MA: In case Rennick does not open shop today, I think the top of today was around the open (I am following NDX). This might become a reversal day. We will see later today or on Monday. I will not be surprised if market ends at bottom of today's range.
Great Maestro! I did similar with NDX. Bought some June puts (on QQQQs). Do you plan to take it off today, or go with it to Monday. If Monday, how do you deal with weekend premium? I plan to take it off or hedge with May short puts.
I am usually short options over weekend. I sold my long puts and I am waiting to sell 1280 June puts to be short puts. I want 7.50 for them.
My current calculations tell me that if NDX were to bounce up, it would not go above 1990. If it goes there, I plan to sell both premimum and intrinsic (ITM calls), assuming attempt to bounce fails (which are current assumption/calculations).
FRI. 5/2 1:10 pm dow- 4 After nailing the Morning call better than anything Roger Clemens did to that 15 year old, the mighty "Ball" remains NEGATIVE calling for further WEAK Market action this afternoon... SELL ANY RALLY ATTEMPTS you crazy SOB's! Rennick out
I see. You already got your meat/etc, and waiting to see if there will be some good tasty gravy to eat for the weekend