any DYN traders??

O

optionsplayer

Well if there was ever a poster child for a major downtrend this one would be it. About two weeks ago amid some positive earnings news, beat street by 2 whopping pennies, DYN had a tremendous gap up as shorts stumbled over themselves and raced to cover driving the stock up $4 from the overnight close all the way up to $18.00

I bought in two days later on a pullback around $16.25. I had a very lose stop placed and thus got clobbered by 3 1/2 whole points as DYN has continuously broke to new lows, like every single freakin' day. I would have bought puts, but at the time at the money puts were tremendously overpriced in premium.

Including today. I was watching the $7.50 May strike puts at the open bidding for .50. By midday, DYN was yet again puking to new lower lows, a new 52 week low in the $6ish range. Those puts more than doubled.

In any event, is anyone looking to play a bounce here soon, or have the pros officially declared this thing dead -- thus the downtrend will continue until penny status is reached.........At this point, I am not really sure if T/A and charts will do any good -- the stock looks like a ski slope from Aspen.
 
Well if there was ever a poster child for a major downtrend this one would be it. About two weeks ago amid some positive earnings news, beat street by 2 whopping pennies, DYN had a tremendous gap up as shorts stumbled over themselves and raced to cover driving the stock up $4 from the overnight close all the way up to $18.00

I bought in two days later on a pullback around $16.25. I had a very lose stop placed and thus got clobbered by 3 1/2 whole points as DYN has continuously broke to new lows, like every single freakin' day. I would have bought puts, but at the time at the money puts were tremendously overpriced in premium.

Including today. I was watching the $7.50 May strike puts at the open bidding for .50. By midday, DYN was yet again puking to new lower lows, a new 52 week low in the $6ish range. Those puts more than doubled.

In any event, is anyone looking to play a bounce here soon, or have the pros officially declared this thing dead -- thus the downtrend will continue until penny status is reached.........At this point, I am not really sure if T/A and charts will do any good -- the stock looks like a ski slope from Aspen.
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I looked at DYN, REI, and CPN. I liked what I saw, so I put a simple spread on first, then a more complex one that simulates a butterfly (all in the common tho.)

The spread, as I expected, went my way immdediately. However, I started watching it very closely after I put the spread(s) on. All of a sudden, out of nowhere, 100K offer appeared. The bid disappeared - I wanted to exit my spread(s) and help the seller down, but it was too fast and I had to unwind the positions - way too slow and I was forced to watch at this point. The seller continued to smack the stock down, and even increased his offer to 200K, forcing the stock below the figure .

I have traded DYN before and I knew that this spec. is as "good" (crooked ?) as they come, so I was watching him carefully. I noticed he printed some at .81, and I thought maybe this was a short term bottom, but I was catious as I have seen big sellers back away from a stock, let it drift higher, and pound on it again, and when this happens, the bid disappears. So I did not play the .81 prints even thought I wanted to.

As far as your question goes, who knows what is going to happen 15 minutes from now, let alone Monday?

nitro
 
I wouldn't say it's dead. Just not very lively. There's a good chance though that DYN has indeed bottomed today and will move up to about 10. I just think that it's a mistake to play dyn. I have lost over 50k to that specialist and just refuse to trade that stock with size. I prefer some of it's brethren like rri, rei and cms. I played all 3 of those today and made 6k just scalping them mainly back and forth. CMS had a nice tradable rally. I intend to play them again on monday.
 
Of the few NYSE issues I've traded, DYN is on my blacklist for being the toughest to get a fair deal. It would be a great stock to make money on technically, but the fills are terrible IMO. :mad:
 
Originally posted by nitro

As far as your question goes, who knows what is going to happen 15 minutes from now, let alone Monday?
nitro
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This is a relative point. And the other posters share in my frustration from similar experience also. As I typically flip stocks -- in the case of DYN, I became an unwilling investor from a bad trade that did not fill. WHat happened is I had offered my shares at $16.30, for merely a nickel gain. Many orders were being filled at and above the $16.30. Meanwhile either my order was being ignored or just poorly routed.....but literally within 15 seconds after a 30 second wait for a no fill, the bids disapperead and DYN was at $15.80. I figured I would stay put on it for a few days with a lose stop and it would surely bounce back. After all, the CEO came on CNBC and proclaimed that the SEC investigation was over and that DYN was in the clear (bull *#%*) The stock obviously never recovered!!! I would imagine at the range from today, at some point, you are going to run out of sellers, period.....as far as shorts go, unless the SEC and this caveat perception of ENE is true here, which I do not believe, there will also be a definitive point where it simply is not smart to borrow the stock anymore. At this point, I also am suspect on the specialist here, this stock can be hard to trade. It can move very quickly, which is good if you are on the right side of that particular trade. If I go long overnight for several days or more, I am buying puts for insurance from now on..............
 
...Many orders were being filled at and above the $16.30. Meanwhile either my order was being ignored or just poorly routed.....but literally within 15 seconds after a 30 second wait for a no fill, the bids disapperead and DYN was at $15.80. I figured I would stay put on it for a few days with a lose stop and it would surely bounce ...
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I don't get it. Since you left the order in, why not call your broker and complain? If indeed he did not fill your order when he should have, then this would have shown up in the audit.

I had something like this happen to me. I think that _EVERY_ONE_ that trades NYSE has had this happened to them at one time or another - most of the time those guys are so fantastically busy, they make mistakes!

I just take notes and try to avoid those specs. that aren't just making honest mistakes and do this time and again. I honestly don't know about the DYN spec., I do know the guy takes no prisoners.

nitro
 
This specialist is a prick. He's the old pvn guy. Just avoid and move on. Trust me. This is one of only like 5 posts that I won't do business at.
 
This specialist is a prick. He's the old pvn guy. Just avoid and move on. Trust me. This is one of only like 5 posts that I won't do business at.
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P2, what are the other five please.

nitro
 
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