iceman's options trading journal

Jim Cramer???

Here I was doing great in OIH and this guy comes on pumping the oil service sector. This guy is either a shill or a contrarian indicator; maybe his buddies wants to distribute more oil stock so he comes on touting the oil sector! Then he touts VLO - the one oil stock I still own!

He then says "high oil is here to stay". Sure -- this time is different just like natural gas! Give me a break!

Translation: TIME TO SHORT OIL???

Well I am net long after closing some oil puts/short calls today so I hope OIH opens up 2+.

Booooyahhhh

 

The fly is trading at $.55

 

actualy did it it at 1.75 (checked my fills)

now 1.80 offer

 

48% vol-line, July options:

65c 5.00
70c 3.10
75c 1.75

fairval: $.55

 

Looks like I'm the sucker at the RIMM table.

Let's see what happens--- and what opportunities there will be to trade this position by Juy expiry!

 

OIH up only 1.71 - but it looks like st bottom is in on OIH

looking for NDX to test 1600

 

legged into more RIMM July flys at .80 this time

(thanks r/a)

 

my Winmau dartboard has been really accurate lately... !

 

Rimm preparing to blast off in direction of 68-69 (and that's just an appetizer) ....... or maybe it's just wishful thinking!

 

just finished:

Psychology and the Economic Mind (Leahy)
Fortune's Formula
Prisoner's Dilemma
(Poundstone)

for those who have not yet read- recommend