The Surf Report

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Quote from atticus:

I have $300k riding on it, so yeah, you can say I took it. GL, but all I see is a take-out of the 3-day low. With these vols, who knows, but I wouldn't be buying until we test 1506 cash.

It's my bot talking. I am programmed to listen and obey.
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LOD: $1504.75. Bought NQ at xx46; BSC 141.
 
marketsurfer


Registered: Apr 2002
Posts: 9129


06-20-07 10:41 PM



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Quote from atticus:

One week 1544 continuous-NT expiring to cash this Friday, no hedge; 315/600k.
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thank you. best wishes!

surf
***
Did you understand what he said Surf?

I didn't.

JJ
 
ok, ok---- wild rollercoaster day today, YM short ended up back near even. nothing has changed yet in the analysis--- continung to hold shorts.

short YM into friday.


best wishes,

surf
 
Quote from JimmyJam:

marketsurfer


Registered: Apr 2002
Posts: 9129


06-20-07 10:41 PM



--------------------------------------------------------------------------------
Quote from atticus:

One week 1544 continuous-NT expiring to cash this Friday, no hedge; 315/600k.
--------------------------------------------------------------------------------




thank you. best wishes!

surf
***
Did you understand what he said Surf?

I didn't.

JJ
More...

One week duration. 1544 strike no-touch. Continuous vs end of day monitoring [path-dependency]. $315k debit, $600k payout.
 
Quote from JimmyJam:

marketsurfer


Registered: Apr 2002
Posts: 9129


06-20-07 10:41 PM



--------------------------------------------------------------------------------
Quote from atticus:

One week 1544 continuous-NT expiring to cash this Friday, no hedge; 315/600k.
--------------------------------------------------------------------------------




thank you. best wishes!

surf
***
Did you understand what he said Surf?

I didn't.

JJ
More...
Exotic No-Touch "Barrier" option. Pays off $600K for the cost of $315K, if SPX doesn't hit 1544 by Friday. Sold OTC by arrangement with broker.

Sheesh. Talk about a pucker factor. That sucker is gettin' close...


At least, I think that's what risk said! I don't speak r/a very well. Maybe some day he'll give us an exotic op primer?

Good luck to all! :cool:

edit: Hey! I got most of it right! (r/a posted while I spell-checked) :D
 
SPX, not ES futures. Spot closed at 1522. Terminology varies with native-tongue, but it's an American up and out continuous knockout, or simply a no touch. Digitals are European, they pay-out at expiration [path-ind].
 
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