Drys

As always with Fib stuff: draw enough lines and the market is bound to bounce off ONE of them.
Forget it. DRYS is dead for trading....move on. Once a $100 stock, now it will trade as all BLOWN AWAY stocks like SUNW(JAVA), and IPIX did: it'll stay low and go nowhere. In IPIX case, it went to zero.

 

DRYS now at 4.44 !
You still holding those calls short at a strike of 5 ?

 

Yep, no change in the position. Sold my Rimm calls today though

 

Sorry to see you got crushed....DRYS was between 5 and 7.5 at expiration.

 

I'm not a complete idiot although I may play one on ET

Reread the thread.

 

I never said you were an idiot.
You were long 7.5 calls and short 5 calls.
And reading the thread is a lot like reading Bernie Madoff statements...

 

What I meant was that had I held the position in to expiration week I would have been an idiot.

I see now that I didn't post that I was looking to get out of the spread at $45 or better as I thought I had, my bad. The other 400 7.5s expired worthless.

 

Gap filled for for all intents, sold remaining half. It may go furthur but it hit my target.

 

Nice hold, guess that's why you're the Boss

 

$475 million common offering