Thats less than three days range(1.08 ATR over the last 63 days) from where its trading right now (68.28). Not much of a move in my opinion. Selling aug volty? BTW, I love the hotels..killed it in FS last year...
My present strategy is in long options only. Little move indeed. Expect it to follow OEH, FHR, and GET. Cheers !
You are right. The analogy was for entertainment purposes only. Do you have any open positions in the sector ?
Nope, no pos at all. In fact I have not traded one share or contract of anything in over 1.5 weeks. IMO, equities are at an inflection point. Too extended to go long...and to strong to go short. I have absolutely no idea what do to.....so I do nothing. Fact is my system hasn't fired a fresh long signal in quite sometime...shorts are popping up all over in individual names...when I get the short signal in the majors i`ll lean that way....almost there but not gonna anticipate. Good luck!
Agree. But what happens with your system if we were to rally the rest of the year, which is a possibility. Just curious.
Well if we rallied from this point and didn't look back I would miss the boat. In a perfect world(for me anyways) we would vacillate sideways for a month or so and the system would refresh itself sort of and seek fresh entries.
I don't understand your post -WHY are you putting out a discussion of MAR going to $65 if you trade only from the long side & MAR is over $68?
In option terminology "long" means owning either puts or calls. So you can be "long" puts, expecting the underlying to move lower. And my reasoning to post this thread was only to create history for future use. Cheers and good trading !