Strategy Central

[shortterm]

Anyone thinking of going long today?

I'm going to reduce my June put positions and I am very tempted to buy a small number of at money May calls for selling them after the bounce on Monday, but what if there is no bounce on Monday? I think I will stick on just reducing the puts and when the bounce comes, just add June to August puts.

I think it is dangerous to assume that there is a bounce on Monday. We will have some kind of bounce at very soon but Monday could easily be another day down, as people have the weekend the digests the events of the last two days.

It is also option expiry so that should have some "stabalising" effect. The dollar drop is scary.