selling right? I wouldnt buy a straddle on that stock its got support at 98. But I gave up options a long time ago after option coach cost me 70k selling otm calls on the spx couple years ago you know im messin with ya.
Yen is starting to look bullish again.. wouldnt be surprised to see the market roll over down to 1455-1459. Still flat but looking aggressive for a short side trigger.
I've got some questions on straddles, hopefully some of the more experienced option traders can provide input. http://www.elitetrader.com/vb/showthread.php?threadid=109590
All of my range calls are always in cash due to the fact of eroding premium in ES. Who said we are going to 152 ? Current option interest points to 1440 - 1480+ some time this week. A spring can only compress so far before it pops you in face. [/QUOTE] I only stated 1480+ when we closed at 1439 and only stated spx will not close over 1496 this week.
So much for your SPY 152. So we have 149.50, 152.00, 153.00. Any more high OI zones you'd like to add? Pure Brotelligence. You should use the 20-period EMA, it gave the same result, worthless.