Safer and selling OTM puts is imo an OXYMORON unless you have some sort of hedge, but you did not mention it.
Two thirds of yesterdays losses now gone on 1/10 the volume....That is what you call magic...the magic futures.
Well anticipated RM. That Chinese intervention and glitch on NYSE sure postponed a selloff until further notice.
I just want this Greek drama to be over with. Here we are again looking at another weekend deal possibility. Im fairly certain this weekend will be the weekend something gets done. Sundays 5pm futures opening will be one giant gap up. Position yourself long, just take small position though.
So do we get sloppy trading today. Can you believe all of yesterdays losses are almost erased overnight, on thin volume. Makes you stop and think. Im telling you this is all psychological, last night all the masses saw was red. Today they wake up hearing every news outlet screaming, big surge overnight, markets set to rally. This leaves the masses thinking everything is ok, lets not sell.
These markets are so rigged it's sickening. Can you imagine needing to sell Chinese stocks and the government not letting you. What the hell is going on. This is such a tragic event.
Today's lunch special will be....AT THE HIGHS OF THE SESSION.....make it pretty for the masses. Bought the 100 point dip this morning in YM, long 5 at 17600, looking to sell near 17680.