Replies to post #2164 on T/A ETF AND INDEX

[James Bondage]

The only thing we have to watch out for now is what is called delta hedging, So many calls in the money, that additional calls have to be bought and brought in the money too. Happens every now and then, and I just wish this wasn't OPEX week. That could be the only curve here. And I really hope thats not the case, and that MAX PAIN was dealt with earlier this week somehow...

[positiontrader]

PS,

What level would we need to reach to change your prediction?

Regards

Marc

[koepkesd]

your points make a lot of sense to me
I was thinking 38.40 to be the top for this OE, and then with profit taking settle in closer to 37, but I loaded up on sept puts to early afraid of missing the down swing,
37.70 makes a lot of sense to me(however I'm thinking we could tag 37.50 and still be in the trading range)
when I thought we had destiny with 39.50 sometime this year it looks like we could hit that with this c wave
I'm however a little different on the timing
I think we will end the week closer to 37.50-38 area just because of more pain to option holders
have a false start to the next option cycle with us going up on monday/tuesday, and then start a trend down