Thirsty's options

iceman1 · May 16, 2006

Quote from thirst:

I really like how the chart is looking.

OK !!

iceman1 · May 17, 2006

Quote from iceman1:

TIE

p.s. closed all short calls on TIE went long at approx 73 very st downside 2-3/upside 7+. Still long june puts . Be patient!

later,

IcEman1

not trying to hijack thread but I am selling out of TIE near 3875-3935 entered near 73 (3650). we will re-enter after expiry; could or might see 40 though, but I have bull put spreads working which I will try to lift short legs on this week and roll strikes, and also have front 3750 strangle which I will hold into expry, possibly take delivery of one side .

3750 pinning also doable. IMHO

this market is schizo!

GL

hajimow · May 17, 2006

A quick note to everyone although it might see un related to the thread.
I see moderate volume today (except QQQQ and index socks) that does not justify heavy price drops. I believe it might mean we will have a rally tomorrow.

iceman1 · May 17, 2006

Quote from hajimow:

A quick note to everyone although it might see un related to the thread.
I see moderate volume today (except QQQQ and index socks) that does not justify heavy price drops. I believe it might mean we will have a rally tomorrow.

but it is expiration - won't see large vol. at this juncture - I don't think! The nasd m/m and other conspirators all know that expiry will result in certain price levels being attained until Friday close.

Oh wait- its just a coincidence that specific even price levels are reached each and every expiry; no conspiracy possible! it's a 'free' market!

IMHO

hajimow · May 17, 2006

Quote from iceman1:

but it is expiration - won't see large vol. at this juncture

IMHO

Forgive my stupidity and ignorance. Please elaborate. I thought option expiry days can be busy.

thirst · May 17, 2006

Picked up some brcm 37.5 calls. I'm gonna stop posting size. Paid .6

iceman1 · May 17, 2006

Quote from hajimow:

Forgive my stupidity and ignorance. Please elaborate. I thought option expiry days can be busy.

I respect your opinion h

just offering a (possible) explanation other than a bottom being formed. That said - look for a small st reversal on Friday. IMHO

hajimow · May 17, 2006

Quote from iceman1:

I respect your opinion h

just offering a (possible) explanation

And I also respect your opinion and everyone's else. Your point was interesting to me because the volume today is suspicious to me. It seems buyers are on the sidelines and there are not too many sell going on. I thought that you had an explanation and I wanted to know. I think I am missing something in my observation.

der_kommissar · May 17, 2006

Quote from iceman1:

not trying to hijack thread but I am selling out of TIE near 3875-3935 entered near 73 (3650). we will re-enter after expiry; could or might see 40 though, but I have bull put spreads working which I will try to lift short legs on this week and roll strikes, and also have front 3750 strangle which I will hold into expry, possibly take delivery of one side .

3750 pinning also doable. IMHO

this market is schizo!

GL

Why not post this junk on your own journal. That way we don't have to be bothered with these delirious ramblings.

iceman1 · May 17, 2006

Quote from hajimow:

And I also respect your opinion and everyone's else. Your point was interesting to me because the volume today is suspicious to me. It seems buyers are on the sidelines and there are not too many sell going on. I thought that you had an explanation and I wanted to know. I think I am missing something in my observation.

buyers and sellers stand aside since they all have come to 'know" the expiry shell game and thus the r/r isn't great at this level since most of the arbitrage/unwinding has occurred. So on a micro level they need to see which way tomorrow and Friday shake out before committing trading dough!

JMHO - might be wrong