I still think Jim is brilliant, but his image is tarnished a bit after I googled "Rentech leverage limits." He is the first HFT, and an expert tax avoider (with shakey loopholes)...that's not illegal, but it ain't totally pretty either. I thought he made his money just through excellent trading...
bought some cheap nov 27 12.50 GDX puts for .22 so I can still catch a down move and keep my cash ready to buy DUST on a pull back;; i really think i got out too soon, GDX puts keep me in a bit, basically same as going long DUST
GDX should reach its 13.00 support which should sent DUST up about 30% from here. If we can get a weekly close on GDX below 13.00, then DUST could run much higher.
Just bought DUST at about 17.40. Will buy more if it gets below 16 (edit: actually that is too close to my stop; nix that for now). Big report out tomorrow! Stop loss is about 14.90.
I just checked the asx 200 vs the s & p 500 charts. They both plunged over 10% in 2-3 weeks. For a major index that is not a minor move in the underlying. It is a lot of volatility, and that is what made your options spike in value.
Your price spike was about the volatility. The sudden rapid...
Maybe Australia didn't plunge as much as here in US? The VIX went off the charts. It was not a minor move at all, but very violent and made volatility spike in many options, even calls. No doubt they didn't stay at 14 for long. Am I right?