TAP

beerntrading · Jun 7, 2017

What the hell is happening here? It just dropped more than $6 in minutes!...can't see any news on it.

Jamie J. · Jun 7, 2017

However, it was really unexpected. Thank God, it hasn't fallen, let's say, to $50. I think the recovery will be quick.

beerntrading · Jun 7, 2017

Jamie J. said:
However, it was really unexpected. Thank God, it hasn't fallen, let's say, to $50. I think the recovery will be quick.

I sure hope so...I'm holding the bag on a short 92.50 put.

beerntrading · Jun 7, 2017

hmmm, I guess this: https://seekingalpha.com/news/3272230-molson-coors-lower-analyst-day-talk

Max E. · Jun 7, 2017

beerntrading said:
I sure hope so...I'm holding the bag on a short 92.50 put.

Ouch, i thought that 92.50 area was going to hold too but it went clean through it, so i tried 92.09, then just bailed when it wouldnt bounce for a tiny win, sure glad i played it safe, i never would have thought it was going all the way too 89.

beerntrading · Jun 7, 2017

Max E. said:
Ouch, i thought that 92.50 area was going to hold too but it went clean through it, so i tried 92.09, then just bailed when it wouldnt bounce for a tiny win, sure glad i played it safe, i never would have thought it was going all the way too 89.

It's not as bad as it sounds. That's actually part of an early entry investment play (didn't have the cash, didn't want to pay margin interest, wanted an entry)...so I'm actually good even if I get assigned. Not as large as a trading play if I had that open.

Max E. · Jun 7, 2017

beerntrading said:
It's not as bad as it sounds. That's actually part of an early entry investment play (didn't have the cash, didn't want to pay margin interest, wanted an entry)...so I'm actually good even if I get assigned. Not as large as a trading play if I had that open.

Well thats good to hear then, that was a sick move, probably lots of people got owned long on that thing today if not at 92.50, then the next time at 90.....

a couple of my buddies thought they were chasing it short at 94.50 and nailed it, i didnt want to take it there, so i was looking to try to bottom pick it for a bounce, wish i had just "chased," short at 94.50, but who knew it was going all the way too 88, thats a huge intraday move with no pullback in this market, lol.