Looking at GE Aprils

Discussion in 'Options' started by KINGOFSHORTS, Mar 23, 2009.

  1. Interesting, lots of bids for the 9 strike call.

    Not much for the 8 strike put

    And bit less for the 10 calls

    I sold GEW DD 9 strike calls

    I had a bunch of orders sitting for opening that got filled for 1.71

    GE options are nice, liquid and the spreads can get tight even for ITMs

    Any folks here trade GE options? and follow GE pretty carefully? GE is like an old friend.
  2. Well looks like OI on 9 calls slightly decreasing with an increase in the 11 showing the most strength with good volume

    But strong strength on the 8 puts for May.

    Probably looks like folks expecting a short term pop to the mid 11s for GE right around earnings and then a potential bias down towards a slide to 8.

    still a bit to early to see.

    But Choppy waters lately, and choppy it is.

    Someone seems to be sniping blocks of GE when it drops a bit around the middle of the day and then sudden sell offs around the latter part.

    And best time to go short calls are either early morning or now it seems down around the first hour or so.
  3. We shorted GE today at $10.94 after its visit to the high of 11.ish. We took off too soon with the plan to nail her on a visit to $11.15 area. We thought to get her between $11.15 and $11.20. She did not show up. We were planning to hold until $9.20 area. We are on the same side it seems (with different implementations). We may shake hands in that area.
  4. market is bullish now, may be it is time to long ?:D
  5. Using GE as a hedge for some other positions.

    Long the GE J 6/8 ps and short the GE J 5/7 ps.
  6. I jumped out took my loss. This morning at 1.97 contract.

    Someone out there is buying up chunks of GE sniper style.

    Dont want to be in the way of the steamroller got out of there like a cat on a hot tin roof :)

    well at least I can use it as short term loss for tax purposes :)

    Probably TACGNOL he always sneaks up on ya.
  7. The market just keep on bulling- regardless how bad is the news, what happen ? :confused:

  8. Looks like time to buy to close out the may puts.

    GE bond spreads have been indicating bullish sentiment for sure. The 5 year notes (2billion) traded at not too bad of a spread compared to the older notes.

    Also one point CDS's were trading at levels indicating GE default, which I thought was a bit overblown.