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That is pretty remarkable....I know that the one in July surprised the heck out of me. Thought I was set up beautifully for the july spx expiration, then off to the races we went.
PT...Do you still have us going to the mid to upper 900's for the 10 week low, or has that changed with the explosion up over the last few trading days?
golfin.....do you have a target date? EOM
Market selling off heavily with better than expected economic news....what happens on Friday when the jobs report is worse than expected?
I am trying to get a target for the sep option play. In the 100 puts heavy, I am thinking of butterflying the 94 area.
Deva...I have noticed the exact same thing with Yahoo.
Depending on the day they will either have the headlines very positive all day, or very negative all day. They spin the headline the way they want.
It is kinda like watching the same story on CNN one minute and Fox News the next. Same story, but very different view points.
Here is a link to what one analyst thinks about google's second quarter.
http://www.techcrunch.com/2009/07/14/cheat-sheet-for-googs-second-quarter-earnings-later-this-week/
Starting to take a position in VIX July call options. (27.5's and the 30-32.5 spread)
If we start falling into the 20 week low by Wed afternoon-thursday morning, we hopefully would be in the low to mid 30's by Tuesday's Vix option expiration.
IMO
I will be absolutely amazed if we do not print 900 on the S&P today.
So will the afternoon reverse the large morning move for the third straight day?
We are so close to the 900 emotional mark....my guess is that we close on top of it.
Did anyone notice the crazy ITM option volume on the June SPY options today?
Just ludicrious voulume....
1.3 million contracts on the June 85
815 k contracts on the June 86
400 k contracts on the June 87
500k on the June 88
500k on the june 89
1m on the june 90
ETC....
WTF
Large block of 92 June call options on TLT went through this morning (10,000 contracts). That is 3x the amount of open interest on the contract.
Could be a big bet on the treasury auctions doing well...or a hedge against a huge short position.
Jim....Do you still have the 870 range on the S&P for the low in June, or did the rally last week raise your expected level?
thanks
I hope you are right Bliss. I have quite a few puts underwater right now.
Speaking of that...I hope you got stopped out of your oex puts.
I try and stay away from the oex options because of the large price spread..but it is tempting when they have an extra expiration date like today's expiring options.
The housing market is the key.
A lot of areas in the country are at the bottom of the downturn, while others still have a way to go.
If the 15,000 dollar tax credit is passed this week, I think you will see most of the $250,000 and under inventory vanish. I have at least 10 friends that plan on purchasing a home if it passes. None of them would be thinking of buying a home if not for the no pay back 15,000 tax credit.
Someone just bought 2000 Feb 20 put contracts at $13.30
It is either someone that knows something. Or an institutional owner hedging there shares.
Not everyday that someone spends $2.66 million dollars on an option play.
June Contract is currently at $51 and change. It is still a few dollars above its low. (dxo trades on june contract)
$13 dollar difference between the Jan contract and the June contract. I need to rent a huge oil storage container for 6 months....that is a crazy difference.
Thanks ghmm!
Another thing that has caught my attention is the amount of short interest in the stock. If excellent results come there could be a huge short squeeze.
There has been a lot of activity on way out of the money options for January. 30 35 and 40 call options have had a lot of activity.
What type of price action are we expecting if phase III results are good? The option activity points to 40-45.
the Jan options expire on the 16th. Are results going to be posted before then?
Thanks
RUT and ER2 way out of wack with the rest of the market.
gloe, so how in the world did they keep the RUT down yesterday?
A large amount of feb puts sold to someone with lots of leverage??....geez they kept the whole index from moving.
Yep the market makers are having a field day whipping the ER back and forth.
You know they have to love the bad economic news pre market along with the good news at 10 o'clock. That gives them permission to steal money all day.
I seem to do MUCH better with the NERS system on the NQ than I do on the ER. I think that there are too many people who trade the ER on the 5 minute chart, so the market makers run the hell out of it for the 5 minutes knowing that everyone will buy or sell after the bar.
How big of a stop do you use gloe? I got stopped out this morning (at the absolute low of course)and had to buy back in.
" I'm sure my posting this will drive the ER well above 800"
LOL
You can really tell that the market didn't want to take the ER2 up any further. It kind of hovered while the nq and Es market took off.
Nice hit on the ER Gloe. I got in at the same time as well, but sold a lot earlier than you did. I really need to work on letting my gains run.
Sometimes like right now, on the 5 minute chart the stoc. will be almost oversold on the IWM chart, but will still be overbought on the $rut.
gloe...you seem to know your way around the er2. I am getting conflicting data using $rut and iwm. Shouldn't these two symbols mirror each other? Thanks
Thanks Nocona...I haven't read much on the hfe til now.
So Nocona did you go againist the NERS system at the open and go short?
Anyone having trouble with stockcharts.com.... All of my charts went down!! AHHHHHHH
The small gap up days always kill me. If I enter pre-market it always fills the gap and goes the other way. If I let it alone it runs....LOL
Thanks Gloe..
Thanks about the ER2 info...Just what I need MORE LEVERAGE. Hopefully my heart can take it!
Gloe..Do you close your position in the afternoon and wait for the first trigger in the morning? Also what is ER? I trade the NQ for short term and ES for longer term trades. Thanks
True that gets me in more trouble than anything else.
Anyone else think we come all the way back today?
Closed ES long...going to try and scalp 5 points this afternoon If and when we hit 52 week high.
Stay away from Nevada Pink Sheet companies
It might as well trade under the intials SCAM
Dr. Worm.....Thanks for informing me of the divy on the SPY
Did you know of the divy before today? I sold my Dec Calls yesterday just in time, they took a beating today because of the div.
Buckster....
I have just started trading SPY and SPY options lately.
Do you know why it is down today in an up day for the S@P. Jan options are higher than yesterday, so I guess the drop was expected due to maintanance fees????
Which upcoming trials are you excited about?
I have been out of the biotech loop for a little over a year, and am looking to get back into the game.
Thanks for any response.