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Re: opnion post# 420146

Friday, 08/26/2005 9:11:08 AM

Friday, August 26, 2005 9:11:08 AM

Post# of 704019
Posted by: ajtj99
In reply to: plexxus who wrote msg# 58460 Date:8/26/2005 7:45:05 AM
Post #of 58470

Lots of calls at $20 and $22.50 for Sept. on ELX. I don't think those are in the money. Lots of puts at $17.50. I think the support at $20 is tested initially after a tag of $21.79 area. The stock should dip towards $19 by expiration if my read is correct.

The peaks usually occur in the first week of the month on ELX.
I agree about the resistance at 25, but there is a wide band of resistance from 20.91-22.35, including the gap at 22.35.


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