May have been luck or may have been skill but it is likely a combination of both. Either way you're the one that pulled the trigger! Nice one!

I feel that by the time this gets to PDUFA the majority of approval will be baked in if there is no bear raid (which I expect there will be starting a day or 2 before.)

Let's say this closes day before approval at $12, I don't think there's any way it will open back up at $24. There isn't enough short interest this time around for a squeeze to happen (like what happened after their adcom.) Too many people are bullish and will take profit like immediately. That's just my take.

In that scenario I think approval would see them hit something like $16-$17 and sell off from there back to around $14-$15.

A double in the share price or the option?

It will get approved, but it will still sell off afterwards.

Agreed. Especially holding these babies overnight now that this reaction happened.

$SPY ripping more A/H by the way, crazy stuff.

In $USO July 33 calls @ .31

$USO bounce off lows. July calls gonna be $$$.

$SLV looking like it could ramp up here.

Like I was saying..

$AAPL is the new gold, flee for safety!

Got bid up, high IV before release. Have to be vigilant in times like these man, sorry about the comp crash!

These AGQ calls should be interesting..

MMs did a nice job of making impossible spreads after this one. Smart move or they would have gotten crushed.

$AAPL calls

Ballsy play there. GL!

Just in time, nice!

$SPY bear flagging right now imo..

Just ready to pounce for more when we break 135.40 area.

A more civilized world here ;)

I was in very early in KMAG (6,000,000 shares @ .0016) so I definitely know that world, I've seen the extremes on both sides. Pennies are a different beast altogether and if the SEC wasn't busy picking its own ass they would step in and completely reform that market.

Volume is dying over there anyway and will probably continue as options become a more viable way to trade.

Hope those $VXX calls work out for you bud. Saw you're pretty loaded on them.

Anyone interested in watching the press conference can find it at this link at 2:30 p.m. eastern time:

http://www.ustream.tv/federalreserve

$GLD and $USO stabilizing. Wait & see mode across the board right now.

Good time to figure out a strategy..

And by IV I mean implied volatility, which is determined by Vega, which drives the increased premiums (i.e. the option price rises as the stock price stays stagnant).

It is very, that's why premiums are high. IV is everything in the VIX related options imo. All about getting there first.

Stay in, the increasing IV alone will keep you afloat as people keep gobbling up the ask. It is at .39 x .40 right now and should probably be somewhere around .37 x .38

out at 1.63

$GLD 155 w puts 1.28 x 1.29

$GLD 155 w puts .95 x .98

$GLD 155 w puts in @ .50 (currently .65 x .67)

$1.64 x $1.65

$GLD w 155 puts $1.50 x $1.52

Breaking down..

If $GLD breaks 155.50 area here its a long way down to support. If not, bounce imminent. Monitoring.

$GLD 155 w puts 1.28 x 1.29

$GLD 155 w puts .95 x .98

$GLD 155 w puts in @ .50 (currently .65 x .67)

Whoops

Yeppp, the squeeze is on!

18s are now .21 x .22
19s are now .10 x .12

$VXX 18 and 19 w calls in @ .17 and .10 respectively (currently .18 x .19 and .09 x .11)

$VXX going..

Interday $SPY support at 135.50 fyi. Based there twice yesterday.

$GLD 155 w calls .95 x .98

$GLD 155 w calls in @ .50 (currently .65 x .67)

Agreed.

Liking what I'm seeing bud, still holding these babies.

Just to play devil's advocate here re: QE3. Investor sentiment is in the dumps, and although everyone is saying "everyone thinks QE3 is coming, so I don't think it will." This actually shows that almost everyone thinks it WON'T come. It is an interesting dynamic, and with that said I can understand Jimmy's point about the lose/lose situation hanging over the heads of bears at this point.

Like the old saying goes, when the herd goes one way, you should go the other.

Not a chance QE3 is priced in at this point, becase frankly, everyone is expecting disappointment, and when you expect it, disappointing news is a lot less disappointing.

I'm certainly fundamentally bearish short-term, but this market isn't trading on fundamentals, it is trading on expectations and intervention.

I still think we get a small sell-off at very least after news is announced (aside from full-blown QE3), because I think twist could be somewhat priced in...but certainly not QE3

Really hard to play this one imo, though you guys could do worse than following Jimmy's advice here.

Just my 2 cents even if my trading tendencies indicate that I am bearish, it is important to understand psychological dynamics of the market.

Stocktwits (again, totally unconfirmed/unsubstantiated.) Interesting none-the-less for such a specific number. Also, I don't consider the person who first posted this rumor to be credible.

I'll be watching.

Rumor going around that $VRNG has a $480 million settlement offer from $GOOG on the table. Don't know how true this is but if a presser comes out about it $VRNG will FLY..

Just to clarify, this would essentially be a buyout offer of $480 million (valuing $VRNG at $12.50 a share). It currently trades at $4.26.

Again, no idea how true this is but I'll be monitoring the call volume. If it surges I'll have to take a flyer.

$GLD 155 w calls going to be hovering around a dollar today I think.

$GLD 155 w calls in @ .50 (currently .65 x .67)

Yep! Til about noon anyway :D

No but really, Nat Gas will still probably surge as the petroleum inventories could underwhelm (to the upside).