what I really want to do is find a way to automatically spot these giant abberation call purchases when they happen so i can pile on. any way in IB or any other services? options monster should have picked up on this. did it?
Schaeffer's done that for a long time. I haven't looked at it closely in a quite a while so I don't know how good they are. http://www.schaeffersresearch.com/streetools/centers/sttc/tools/unusually_high_option_volume.aspx
I suppose one could buy hundreds of calls on insider info and claim to have bought them on the unusual call volume? It must be very hard to prove most of these trades, so fines for the ones that are proven should be very very high, and made very very public.
imagine owning this before the news broke.... 28,700%%%% DJ May 2007 40.0000 call (OPRJEH.X) Delayed quote data Edit Last Trade: 14.40 Trade Time: 3:49PM ET Change: Up 14.35 (28700.00%) Prev Close: 0.05 Open: 14.80 Bid: 15.50 Ask: 17.50 Day's Range: 10.00 - 20.00 Contract Range: 0.05 - 0.10 Volume: 97 Open Interest: 20 Strike: 40.00 Expire Date: 18-May-07:eek: :eek: :eek:
Deepfried - I wanted to clarify my earlier comments. I know there are many hard working, diligent people looking out for the average investor's better interests on a daily basis, and pursuing fraud when they detect it. I did not mean to impugn even a large minority of the people working at the SEC. I sometimes, maybe it's fair to say often, wish they were more zealous, however. It seems there's an awful lot they miss, and I'm sure there's a lot that lies beneath the surface that we don't even know about. Regarding this leaked ISM survey this morning, that stuff is akin to stealing, as far as I'm concerned, and I hope the SEC treats the matter the same way.
$475 a month. Pony up. http://www.trade-alert.com/ He posts the mid-day order flow summary at http://www.theoptionsinsider.com . Its updated daily, and gives an interesting no bs no fluff rundown of whats going on.
amazing how the game is played......... Dow Jones and Co. (DJ) DJ reopened up $20 to $56 today as the company confirmed receipt of an unsolicited offer. No options trading took place this morning because the stock was halted this morning. However, activity from last week suggests that a few traders were well positioned for the news. The stock hasnât been above $45 in several years, and it closed last night at $36.33. Over the last six trading days, more than 6500 upside calls have changed hands, giving the owners a significant windfall today.
There are good people there but what they do should be made more open to deter those who opt to delve in illegal or unethical activities.