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Seriously lets talk shop. CRM: PE of over 200 yet it keeps chugging along. Oh yea, it beat estimates....by a penny BAWHAHA!!!
This is unbelievable. No, I don't have a vested interest one way or another in this trap but it boggles the mind.
Shorts are hurting on that one.
Hey Langs: Quick Question I hope you know the answer to. When you're trying to get out of penny options is it easier to just Sell(be the writer of said option)so that way you're risk/reward is limited or does it play games on that as well? What I mean by play games is only sells a few opts then goes down and there are more costs if I put in a sell for penny opts and the price immediately goes down and if I cancel the order there are costs that go into it. So in effect I'm paying for something that hasn't been honored.
Example: You have bot 100 Put opts of XYZ. They are priced in pennies so you bot @ .09 each. Can you turn around and sell 100 contracts of same opt at .07 so that way your limit risk is .02 and if they expire worthless you'll not have to pay the extra fees/cost that go into opt contracts bc they'll just expire?
Also do you use All or None? I have been(though I'd break my orders up) til this charade occurred. TYIA
Funny you bring that up a friend of mine gave me a story of some airline he bot in years back that was going through problems and got wiped out and they issued new shares...at a great deal higher than the ones wiped out were trading last
That's a fool proof plan for companies. When your shares take a dirt nap cancel them then immediately reissue new ones at 40x what they were last trading at.
You may be onto something there. I remember when TSLA IPO'd same scenario.
I have an axe to grind with companies that wipe out commons then decide to hit the reset button and IPO at 30x what it was last trading at.
Could anybody short GM today? IBKR doesn't have shares to short.
RINO is halted. It's taken a beating lately. I haven't traded it or know any details as to why just looking for possible bounce when trading resumes.
HGSI: Tomorrow should be interesting
LOL! Great Call Spec on PIP
You seem to have a knack for being ahead of the curve. I enjoy your posts
So anyway I was having a really good day on teh markets and decided to buy some GLD Calls on a whim. Afterwards I looked at a chart. HeyZeus, what happened thar?
Chalk that one up to "Don't place impulsive bids"
In for a bounce. Let's see if this doesn't do like CSCO and just keep going down never finding a bottom
Terrible idea. Out and sidelining.
Went long
QQQQ's the pistol whipping continues LOL!
You gotta love it!
Yea that's what my chart says as well but I had to confirm. Not sure why my platform wants to taunt me like that.
Anyway, hope all had a prosperous good week trading and, more importantly, an enjoyable weekend. See ya next week.
Did AAPL flash crash today? I'm showing a LOD @ $212.52 on my platform but the chart doesn't confirm this. Say it isn't so? I need a buzzer to electroshock me for opportune times like that if that indeed did happen.
QQQQ's are getting pistol whipped today LOL!
For Options Traders: You might want to check out QQQQ both Calls and Puts. I'm not talking about right now. I mean take a look at how it trades. Pretty nice set up. Lots of volatility the few days I've followed. Plus you can get weekly expiry opts and the bid/ask spread is tight as dicks hat band and it's liquid(easy to get in and out of). So that's nice.
Happy Trading
I bot in AH's paid too much. After I bot a few minutes later a huge sell block fired off. Take a look.
And to add insult to injury I sold my QQQQ Puts for a huge loss that in all liklihood would be huge green tomorrow.
*Sigh
Sorry I couldn't reply last nite. I was a chatterbox yesterday and ran out of replies I could make.
QQQQ Puts for the day
Thanks Griff...It's on my platform now but I can't see volume. I only see prices so I have to stay sidelines.
Langs I tried to put in a stink bid right before close for NFLX the nite before Earnings but I missed keyed in my trade 2x trying to pay $9K per opt LOL! Glad it kicked but wished I coulda got in.
Good Luck. Not sure if you read this I posted this morning but you can hopefully use it for future reference.
"Langs the PCLN 410's went to $14.50
So from $9.50 yesterdays close to $14.50 this morning high
That answers the Implied Volatility still being in there."
Hey Griff did you call in a ABK trade?
http://finance.yahoo.com/news/Ambac-sues-US-says-IRS-may-rb-2173314900.html?x=0&sec=topStories&pos=1&asset=&ccode=
What's it at if you did? Would you mind to give the high low close? TYIA
I wondered where you were and glad to read you're here. Looks like the markets turned quite a bit. SPY was redlining RSI so it had to be just a matter of time before it turned.
I've been keeping my eyes more on SPY Puts than Calls as challenging as that is. But my SPY trades have been sparse for the most part and I didn't even notice it today til now.
Thanks ChosenOne. Glad to read that you've had a boon day as well.
I'm perplexed by both GLD and SLV. I'm more bullish on SLV but both have hit the mat today after a very strong start.
Last year in Nov GLD went bananas up like 19 out of 22 trading days. Was looking for history to repeat itself but I'm not married to any positions....Unless I'm hip deep underwater in them LULZ!
TLT Puts Out at .50 Lovely!
Hope all have had a great trading day
Cramers jughead pumped MIPS the other week when he had the CEO on and the PPS went up Afterhours from around $13 and change to around $15
I guess he can serve as a useful idiot in cases like that for the short term. Truth be told I just look at volume and that's it for intraday daytrades. I don't listen to Bloomberg or CNBC
CNBC played some mean spirited shenanigans when CIT was going through it's problems last year and Marc Faber I believe it was him that dedicated the show about CIT. The intraday action was nuts. It would start trending up then BAM! Down she'd go and people on a message board said he was talking it down then it would rise during the commercial. At any rate it went from like $.30 to over $1 in a few days.
Ok enough of this charade I'm just about ready to get out of TLT Puts. In @ .20 and it's at .33 I don't think $96 can be breached today and my opts expire Friday so the fuse is lit on a very short fuse and I'm definitely not holding overnight for time decay to rob my gains.
Good Grief. I read your posts earlier but it was after the halt so I didn't see a halt on my platform and didn't think anymore about it. Then I just read your post now and happened to look at the daily high/low so I just had to pull a chart up to see that craziness.
I've never heard of a meltdown on good news WTF
Anyway hope you got some on the cheap.
TLT $97 was breached. LULZ!
*EDIT $97 not $96 I'm an idiot I confess*
Long GLD & SLV
Short TLT
Thanks for the update. If it's a call in then I'm gonna have to pass.
Good trading on your end...BTW why did you get out? I happened to get out after I read a post from someone on Yahoo Finance that looked pretty official and said that it'd cease trading. That did it for me. In @ .20ish out .23ish
Hey no sweat...At least we learned that the implied volatility didn't get sucked out.
When I was eying the SPY Puts channel before the FED meeting they went down drastically after the announcement and if you recall initially SPY traded down before moving up. And quite frankly I was baffled.
So now we know...At least what happened in this particular instance.
Langs the PCLN 410's went to $14.50
So from $9.50 yesterdays close to $14.50 this morning high
That answers the Implied Volatility still being in there.
There aren't any Puts for UST...And no shares for short available. Damn the luck
Got out of ABK and it's Halted. Looks like I dodged that bullet.
Hope it trades again today. Should move around like a pinball.
Meanwhile, Look at SLV go. Just look at it.
UST Nov Puts is where I'm going today
Bot ABK Premarket will close before open then monitor One Minute Line to see where to buy again for a dead cat bounce.
*EDIT ABK*
Well there you have it...PCLN on a rip. Up $20. I was bearish but I'm anxiously awaiting to see what my straddle would have settled at if I had 3/1 Puts Call ratio on it.
However, I switched hats and was just trying to place an order through before close but for whatever reason I kept keying in a $900 opt for $410 Call instead of trying to stink bid between Ask/Bid of $9. By the time I had it right the market was closed.
Congrats to those that got in.
Let's see what tomorrow brings and make a record of it.
Would be interesting to see it trades like GOOG did. GOOG had a drop right before close before earnings then BAM! Moonshot!
One trader turned $7K to $70K overnight on that little endeavor. I'm still waiting for my day in the sunshine to have a blast off trade like that.
No I'm gonna sideline it...Cause like you said the Premiums are through the roof and I don't have $ ATM to gamble. I'm trading extremely cautious ,almost to a fault, until I build my warchest back up.
September/Octobers are unusually cruel for me LULZ! I'm not going to trade those months from here on out...Well I say that now but you get my drift.
However, I am going to get a journal for record keeping to track how the Premiums react the day before and more importantly the day after earnings plays for the volatile high flying ones such as AAPL, GOOG, AMZN, NFLX, etc. I'm not sure if the Implied Volatility would be sucked out of both Calls and Puts even if it were to hit the strike so I'll just sideline it to see and use that info as a template/guide for latter plays down the turnpike.
It's actually gone up far more than my physical gold did. I believe silver was trading at around $10ish and I bot Gold at $850ish about 2 years ago. So there you have it.
However, let's face it...It's not too practical to try lugging bars of Silver around. Gold was hard enough as is. LOL!
SLV: I know this is really late and might have already been posted but I believe it was Glassy that said something about JPM manipulating the Silver market.
I alerted a friend of mine that got me in Gold several years back so I could return the favor but nothing became of it and SLV traded sideways or not really much of a breakout.
Then I just saw this over the weekend
http://www.zerohedge.com/article/jpm-hsbc-sued-conspiracy-keep-silver-price-low-reaping-billions-illegal-profits
Was that you Glassy that posted that? If so kudos for being ahead of the curve on that one. Katy bar the door. I'm liking SLV better than GLD and GLD is a mover. But SLV just might have some legs since this crawled out of the woodwork and the SLV/GLD ratio is so far out of whack.
Baroness seems to be in the know on Precious Metals. But any input from anyone that has a pretty good grip on Metals is appreciated. TYIA