So who bought BSC 30 puts at 15 cents on WED

Discussion in 'Options' started by stock777, Mar 15, 2008.

  1. after the big boys bought 50k of them on Tues for 50 cents.

    None one?

    And for the many experts here, how the hell does the MM hedge a sale like that? Must be a living hell to trade.
  2. DennisR


    The way I've been trading lately I'm surprised I didn't write those puts.

    How come no one admits to loosing on these boards? Surely I'm not the only one who took a shot this year...

    Anyway I hope some of you were on the right side of that mess. Would have made about 2000% in one day if timed right.

    Anyone going to get in on the LEH repeat?
  3. Most likely the same participants that stopped accepting Bear as a counterparty forcing them into a liquidity crisis. BCS has never been forgotten for not coming to the table in the LTCM bailout and has reaped what it sowed.
  4. I had a strangle on LEH, fortunately, in anticipation of their earnings Tue morning. I figured there'd be fireworks.
    Sat down for my lunch at work, opened up my account, and said "Holy "sh*t". Believe it or not, both legs were in the green, but of course the down was green by a considerably larger margin. Then looked up the news and said it again.
    If LEH turns out to be a repeat of BSC, well, I'll be happy.
  5. trkarl


    My first option writing loss this year was selling 20 BSC March 25 puts @ .33 average on Thurs.
    Small position I immediately closed for a 2500.00 loss the next day. Usually I never trade naked selling on stocks but took the pure gamble and lost. I'm kinda glad it happened because I've been having the best win streak I ever had and started getting that "I can't lose" feeling. This brought me back to reality.