Stanford You caught it. 1875/1850 PUTS ******************************* Whoops almost 2 p.m. market time and noon local time and the OEX dropped below 500 to 498. Aiiiiii! Shouldn't do that. Humid day here, sweating. Got thunder rumbling over the foothills of the Belize Alps, to my back of the house. ***************************** To make it worse, made a sandwich and my tooth broke off, half of it. Going to have to go to the dentist about 4 p.m. local time. Market closes 2 pm local time.
Stanford What town and province of Canada you in? Boy you go take a nap for an hour on the verandah hammock and the market goes to hell. Got to watch it every minute mon!
A dentist huh! Aaaaah well, too bad your not here right now. Got a sister lives someplace 30 miles north of Victoria. At least she did. I lost her address and have been unable to locate her for the past ten years. Wonder where she is now? I'm hoping for a sideways market the rest of today and tomorrow.
FL and Michael: You moved the spot where you hang out! I just went to the other thread to post a message I got about timing the NDX/QQQQ, and read the message posted by FL. I would have not known you moved if I did not go there. Usually I follow threads using the forum feature, and since nothing happened on that thread since 9 days ago, it did not pop out. I thought you gave up. How are you doing guys? I need to read the posts to catch up. Will do later. Some points: 1. First, my apologies to Michael. I did not yet read and respond to his request for opinion. Since it is paper account, I hope it is not a serious thing. I will do it Michael, assuming that if I need opinions on my teeth you would not advice me to just pull them out. 2. My market models told me at the market open of today to cover the short puts (short puts is a way to play upside). This upmove is done or almost done. 3. I am starting to sell some calls, but the premium sucks! Did you notice this? It is important to learn it. On the QQQQs volty is around 16%down from 25. 4. I shorted some calls on end of month calls because sellers seem not to be in that cycle, and volty is a little higher. (19 instead of 16). If you want to play with something new. You may want to buy a time spread. For instance you can buy an OTM put and sell one expiring earlier. Try to get as close as you can in getting the ratio of time equal to 2, or close to that. See you later.
TJ Max, good to hear from you. I assumed that falconview had told you that he decided to move here. We were hoping that it wasn't that you took a big hit and were keeping to yourself! No hurry at all, just another thing I am looking at, and wondered what you thought of their recommendations and trades. I am just paper trading now, or I would have bugged you a lot more. Take care, Michael
FalconView: I was in a hurry, and I mistyped your initials. I assume I can use FV. I typed FL in instead--- like Floria. Stanford: Do you check volatility? If yes, what do you check? If no, I can suggest where you may want to look. Think of volty as blood pressure. You want to monitor it, particularly if you sell insurance (which you do in case of option premia).