SPDR S&P 500 (SPY)

[Neutral Man]

Blasher/Smart, You're BOTH correct, yes, calls do tend to have higher delta but as of lately that's NOT been the case and the puts have been rather high, Until TODAY!

http://quotes.nasdaq.com/aspxcontent/Options.aspx?mode=&kind=&timeframe=&intraday=&charttype=&splits=&earnings=&movingaverage=&lowerstudy=&comparison=&index=&symbol=qqqq&symbol=csco&symbol=intc&symbol=msft&symbol=jnpr&symbol=&symbol=&symbol=&symbol=&symbol=&FormType=&mkttype=&pathname=&page=options&selected=QQQQ

That said, watch the Mar46 puts, current delta is .24 (2.72 - 2.48 = .24), or about 9%!

The Mar441 call delta is .55 (3.07 - 2.52 = .55), or about 18%, what we have here is a "Tell" and it's suggesting the ST Bottom is about to be Completed?

We went to a ALL Long position and NOT because we'll Reverse and make a RUN for new highs tomorrow, may even fall off a cliff, but we definitely expect prices to breach the R2, 44.92, shortly thereafter!

It's Impossible to TAG the Bottom, well, other than the OEPM factor but hey, whos' keeing count, LOL!? But really, tagging THE ST Bottom is Pure luck but preparing for the inevitable UP action is just plain SMART and ONE of the highest Odds games in town!?

Good nite gents,
nm