SEPR time spread

Wow, what a day. Too bad these babies don't come along every day. I can't remember the last time I saw over 50% of the float trade in a midcap or large cap stock.

This baby was up 57% in one day. Wow, unreal.

Congrats to all those who had long options or backspreads.

I'm still holding on to my backspread. We might get another strong up day. If she starts to roll over I'm going to sell some stock.
 
We need to talk about Martha too fellas. IV crush when? After the conviction?
MSO front month IV's 105%, apr 79%, jun 65%.

wee
 
Also, on a side note, that hedge fund that bought the March 35/37.5 call spread 48k times last week for .45 made out like a bandit today. I guess somebody knew something.
 
Quote from weewilly:

We need to talk about Martha too fellas. IV crush when? After the conviction?
MSO front month IV's 105%, apr 79%, jun 65%.

wee
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She'll need an IV after her conviction.
 
Wow, what another wild day for SEPR! She ran up 4 1/2 pts off her lows today squeezing all the shorts trying to get in. The stock traded almost 16 million shares today. Here is how I traded it today. I came in a little bit long. I sold some stock to flatten my deltas. I figured today would be a very sloppy sideway session. So I wanted to wait for the stock to make a move one way or the other.

Once the stock started to break out, I bought back my short stock and let the long deltas ride. I also saw a nice uptick in premium today. At the end of the day I sold all my deltas and am now flat on the stock. If we get another up day tomorrow this thing might really run. If that happens I will buy back my stock. Otherwise if the stock comes in, I'll stay flat to slightly short on the deltas and maybe catch a few points of premium on the upside.

Other then that, this trade is just about over. Unless she takes off and runs to the upside in which I'll stay long deltas until the ride is over.
 
It looks like this baby might have finally topped for the short term. Another heavy volume day. It had a huge spike in the morning before rolling over in the afternoon. I leaned a little long for most of the day that sold off all my deltas and got short about .50 off the highs. Premium ticked up some more today. I am short a little bit overnight. The plan here is to see if there is any follow through the next few days to the downside. If the stock just chops around and doesn't go anywhere, I will start legging out of this position.
 
Quote from Maverick74:

It looks like this baby might have finally topped for the short term. Another heavy volume day. It had a huge spike in the morning before rolling over in the afternoon. I leaned a little long for most of the day that sold off all my deltas and got short about .50 off the highs. Premium ticked up some more today. I am short a little bit overnight. The plan here is to see if there is any follow through the next few days to the downside. If the stock just chops around and doesn't go anywhere, I will start legging out of this position.
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Shouldn't be too hard to leg-outta a one lot backspread! lol, j/k

Good trade, SEPR is one silly stock.

riskarb
 
Quote from riskarb:

Shouldn't be too hard to leg-outta a one lot backspread! lol, j/k

Good trade, SEPR is one silly stock.

riskarb
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I don't know man, sometimes it takes me 3 to 4 days to leg out of a one lot. LOL.
 
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