Excellent find and story. Did you make any dough? I like hearing about the setup and exit. (I should be on vacation--low volume and market action--last week was busy with ops. and econ. #'s plus weather...why couldn't i predict this?lol)
I am currently short SPY, VRSN and YHOO. These are entries from yesterday. Two stocks I am watching for longs are DRI and DO. I am looking for daily chart breakouts to occur on both, and should they occur I will be long.
Thank you , guys for your warm words and support. It feels great to be back! My first trade: Sell RIMM Sep 65 puts @ $2.60. There is an announcement pending from RIM regarding their new product development plans and possible deal with Intel. IV is high too.
maestro, do you think IV is high compared to HV, or what else makes you think vol is too hig? sep65P trading 41 IV. 50d HV = 36. i'm relatively new to the volatility game and trying to understand perspectives. with news coming out, wouldn't you expect vol to rise? or is it that news is expected to go up so the put will intrinsically become more valuable? thanks