S&P has topped for 2006

[volente_00]

Quote from Bitstream:

dont mean nothin'. not long ago when sp was at the bottom before fed meetin' [and first pause] there was still very heavy volumes on the 1225 strike and we know what happend next. still, am not bashin' your call, just sayin' the odds dont favor much more upside after this humongous run.

Seems like just yesterday when someone was calling for 1180 from there.

 

[Bitstream]

Quote from thorn:

Oh, then we are all to assume, based on your assessment that "the odds don't favor..." that you have sold many Dec 1390 calls and will collect double digit premium. Wow, trading this market is ea$y for you.

lmao, just because i have an opinion in one mkt doesnt mean i have to trade it.

 

[volente_00]

Quote from thorn:

oy vey, 1390 - 1367 = 23 pts.

If the chances are "slim or none", why are the Dec 1390 calls trading in double digits??

Because the sellers are afraid.

 

[HolyGrail]

Quote from MaxLD:

If you are determined to sell your longs tomorrow, consider selling covered Calls against your long shares instead. You may be able to enjoy a higher selling price while allowing for downside protection through the premium you collect. If you believe we may REALLY tank, pick a strike price that is deeper in the money. You will be effectively shorting these shares without the risks of traditional shorting and to a limited extent, you may participate in some upside movement (again, depending on the chosen strike price).

Just something to consider. Good luck in your trades...

Thanks for reminding me about that. I used to do it all the time but I have stopped for some unknown reason.

 

[Bitstream]

and altough chances are most of those calls are bot how do u know they aint been sold; if not all of 'em maybe a good slice of the volumes.

 

[volente_00]

Quote from Bitstream:

and altough chances are most of those calls are bot how do u know they aint been sold; if not all of 'em maybe a good slice of the volumes.

Do you understand the only way open interest can increase ?

 

[thorn]

Quote from volente_00:

lmao, just because i have an opinion in one mkt doesnt mean i have to trade it.

yes, we all knew this was the case.

 

[volente_00]

wow, thorn you are full of jokes tonight. Tell us the one about the bird who called top at 1240.

 

[thorn]

now you people beginning to see what i saw when i started this thread?

 

[thorn]

the mighty thorn smelling like roses.