High volatility
- Thread starter ChrisM
- Start date
It was frickin awesome, 150+ vols points in a matter of minutes. The puts, which were trading for anywhere from $1.00 to $1.35 the previous couple of days with stock around 6, I bought for 10 cents. I was kind of shocked looking at the P&L over the weekend. It wasn't a lot but it was such a small position.
At least for June, July IVs will most likely maintain a bid but be subdued until we get deeper into summer.
The best book start off with is McMillan's, "Options as a Strategic Investment". After that, I would recommend the Natenberg book.
I`ve had that lovely little experience today with NEOL split. I went to bed on Friday being short June Call 17.5 OTM and I woke up this session being short (again) but June Call 15.325 ITM or something like this.
May I please ask how often you guys handle this pleasure ?
Just one of these little things making the world spinning around.
As you said BPUR sat on its a... Looks will stay this way for a while
May I please ask how often you guys handle this pleasure ?
Just one of these little things making the world spinning around.
As you said BPUR sat on its a... Looks will stay this way for a while
Research Circular #RS03-203
May 16, 2003
NeoPharm, Inc. ("NEOL/UOE") 15% Stock Dividend Ex-Distribution Date: May 30, 2003
NeoPharm, Inc. ("NEOL/UOE") has announced a 15% common stock dividend, with a payable date of June 10, 2003, to shareholders of record June 3, 2003. The ex-date for the stock dividend is Friday, May 30, 2003.
Pursuant to OCC rules (Article VI, Section 11), all outstanding UOE option series will be adjusted to reflect this 15% stock dividend on Friday, May 30, 2003, at 8:30 A.M. Chicago time. The exercise price of each outstanding UOE series will be reduced by dividing the existing exercise price by the dividend ratio (1.15) and rounding to the nearest eighth of a point. The contract unit of each adjusted series will be increased to 115 shares, and the contract multiplier will change to 115, i.e., 1 point of premium or strike price will equal $115. The option symbol will change to NEZ. Adjusted exercise prices are shown below. [Any FLEX series that may exist will be adjusted in a similar manner to the standardized option.]
The option adjustment will appear in the Daily Position Report of the clearing member firms on the ex-date. After 8:30 A.M. Friday, May 30, 2003, all trades, corrections, and exercises must be submitted to the CBOE and OCC on an adjusted basis.
Adjusted Exercise Prices
On Friday, May 30, 2003, the ex-distribution date, trading in UOE series will be on an adjusted basis. At 8:30 A.M., Chicago time, an opening rotation will be effected with the following adjustments:
May 16, 2003
NeoPharm, Inc. ("NEOL/UOE") 15% Stock Dividend Ex-Distribution Date: May 30, 2003
NeoPharm, Inc. ("NEOL/UOE") has announced a 15% common stock dividend, with a payable date of June 10, 2003, to shareholders of record June 3, 2003. The ex-date for the stock dividend is Friday, May 30, 2003.
Pursuant to OCC rules (Article VI, Section 11), all outstanding UOE option series will be adjusted to reflect this 15% stock dividend on Friday, May 30, 2003, at 8:30 A.M. Chicago time. The exercise price of each outstanding UOE series will be reduced by dividing the existing exercise price by the dividend ratio (1.15) and rounding to the nearest eighth of a point. The contract unit of each adjusted series will be increased to 115 shares, and the contract multiplier will change to 115, i.e., 1 point of premium or strike price will equal $115. The option symbol will change to NEZ. Adjusted exercise prices are shown below. [Any FLEX series that may exist will be adjusted in a similar manner to the standardized option.]
The option adjustment will appear in the Daily Position Report of the clearing member firms on the ex-date. After 8:30 A.M. Friday, May 30, 2003, all trades, corrections, and exercises must be submitted to the CBOE and OCC on an adjusted basis.
Adjusted Exercise Prices
On Friday, May 30, 2003, the ex-distribution date, trading in UOE series will be on an adjusted basis. At 8:30 A.M., Chicago time, an opening rotation will be effected with the following adjustments: