Another bullish piece of news: Builders Survey at 16-year Low 5/15/2007 1:06 PM EDT The National Association of Home Builders' (NAHB) monthly Housing Market Index (HMI) fell back to a 16-year low, falling to 30 from 33 in April. The consensus was for a reading of 33 (readings below 50 indicate conditions contracted during the month). Very bullish IMO. Rate cut coming
The investors who continue to buy puts, when they do get it right, they are going to make a ton of money. As we head into another options expiration, we have seen a steady rise in put positions on the various broad-market exchange-traded funds. Since April 23, put open interest in the May and June series on the iShares Russell 2000 Index Fund (amex: IWM) has skyrocketed by more than 1 million contracts. During the same time frame, call open interest has increased by fewer than 370,000 contracts. As a result, the ETF's Schaeffer's put/call open interest ratio (SOIR) has risen to 2.21, its highest level since April option expiration.
Very bullish for equity markets IMO. High level of pessimism = more bears to be squeezed = more $$$ for all overnight longs!!!
Thats why i love selling naked puts at any price/strike, I figure anyone buying from me must just be stupid and doesnt deserve to have money. Hey free is free. Not like i'm going to lose.
Same here it's amazing but there's always some morons willing to buy them!!!!!! I just hit their bids and sell them puts I am not sure who these boneheads are but I love pocketing their money!!!!! 100% risk free.
Best of luck all.. talk to you after the 20th...... time to get back to vacation in NYC!! as a side note.... breakfast at Norma's in Le Parker Merdian was awesome!!!