There's plenty of logic behind it. RIMM has no credit market risk, nor are they leveraged up to the hilt in potential liabilities every quarter. ibanks won't get rewarded additionally because there is -zero- growth prospect from here.
What's going on with RIMM now, stuck in Neutral. Even with 2 recent upgrades. 1 downgrade and all hell breaks loose!
Sounds like you're trading from the noobie side. All you need to do is get on the right side of the game, since you know the scam now. Right?
I don't know whether you're being facetious or not but this obviously was a scam. RIM mgmnt timed the earnings report to maximally exploit options expiry day. Knowing that it's a scam doesn't necessarily help because the premiums are usually set so that even straddling can leave you screwed unless the earnings are outside a certain range. Some traders are good at second-guessing the crooks in this sort of situation but judging by the failure rate of traders, and options traders in particular, that's a rare talent. All things considered the shrewd play was to buy the stock itself, but I chickened out; too often I've been betrayed by my interpretation of trading action and technicals and this one could easily have opened $20 lower. I trade RIMM daily but I blew it on the big play. If you played this one right I'd appreciate your insights.
Facetious? Not really - I was just razzing the guy for whining about being on the wrong side of a news trade. I assume that these kinds of games will be played. I find your statement about chickening out quite telling. So you knew what the right play was? 'Nuff said. Did I make money off of RIMM on Friday? Actually, yes I did, a small amount. RIMM and C were my daytraders on Friday. However, I did not even know about whatever news you guys are referring to. That's not ideal, I admit. I knew about the big news last week when RIMM gapped up huge and then gave away a bunch of the gains in the morning. I shorted the stock that morning for a gainer. I was just trading the chart as I saw it on Friday but let me say that I am relatively new to the serious intraday world (just took 3 months for the first time to watch every tick and it is a fascinating process). Basically I was just razzing the guy for saying 'Damn analysts, damn market makers, damn broker, damn exchanges, damn macro news events, damn solar flares, damn horoscope this morning'. I find all of it to be rather lame, making excuses for why you lost. He lost because he placed a trade and then the trade went against him. That's it. Not because of the analyst. When I first placed a trade in 1999, I also sometimes wondered 'Can they see my stops? How could I get stopped out at the exact bottom? Why the hell did the Fed pick today to announce tightening' etc etc. All of that is pointless and in fact detrimental. These guys we see on here whining are the same guys who can't take responsibility for their own outcomes. Like fat people and smokers. (steps down off soapbox)