I'm saying once a lifetime not on the o/n move xflat but a once a lifetime divergance of SET value from opening spot. SET at 1279 was 19 points above the opening high!!
> "most options expire worthless = risk free money" I was short 1275 puts, so for me the theory still rules.
unclosed long 0.01 contracts on QQQQ and IWM did great work for me today. They had no bid before, so I could not close them. I could not believe my eyes today! Unfortunately, I had only a small number of them. Wings is indeed a good name for them, as I could feel flying with them in today's high winds.
Its not once in a lifetime. Those dates that I mentioned all had settlement values significantly above the high print on the screen and the opening prints you see.
Thanks I'll look them up. I've seen quite a few 5-7 points but I'd never seen anything like 20, although given that huge opening spike in futures this wasn't TRULY as obscene as it looks if one only looks at the cash value.
Wait no longerâ¦From AUG08 handle: âand statistically as i remember 90% of options is expired worthless or closed before expired, right ?â In this case he is just askingâ¦but it just a matter of time until next new handle will be advocating same nonsense http://www.elitetrader.com/vb/showthread.php?s=&threadid=137538&perpage=6&pagenumber=2