wgr options

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scriabinop23

A few people hit a jackpot today. WGR 50 July calls went from 0.05 to 9.75.

Thats $1k to $195k overnight. There were 2705 open interests, so someone did well. Just hope there weren't any uncovered writers out there.
 
I have a question....for a lot of these stocks that make these crazy jumps...do they tend to fall back the next few days afterwards?..ie, buy some long puts now on wgr?


Probably a dumb idea...eh
 
Quote from kalikahuna:

I have a question....for a lot of these stocks that make these crazy jumps...do they tend to fall back the next few days afterwards?..ie, buy some long puts now on wgr?


Probably a dumb idea...eh
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Some do and some don't.
 
Quote from MTE:

You can't have all uncovered writers. Each contract has a buyer and a seller.
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I never said they were all uncovered. Some were probably covered, some not. But you -could- have all uncovered writers. Why not? the chances are low.
 
Quote from scriabinop23:

I never said they were all uncovered. Some were probably covered, some not. But you -could- have all uncovered writers. Why not? the chances are low.
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NO, I mean, you can't have all writers, there's an equal amount of writers and buyers - each contract has two sides!
 
I was hoping to find some front running ahead of the announcement. There were 3 big blocks on the 45 calls traded past month, the last one was about 400 contracts I think 2 days ago on the Jly 45. Other than that nothing that would jump out at you. I will look into whether the ATM stradle bleeded up past 10 days leading up to the announcement.
 
Quote from MTE:

NO, I mean, you can't have all writers, there's an equal amount of writers and buyers - each contract has two sides!
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Of course. I was just referring to the selling side. Of course the buyers did well and the sellers hopefully owned the stock.
 
Quote from GATrader:

I was hoping to find some front running ahead of the announcement. There were 3 big blocks on the 45 calls traded past month, the last one was about 400 contracts I think 2 days ago on the Jly 45. Other than that nothing that would jump out at you. I will look into whether the ATM stradle bleeded up past 10 days leading up to the announcement.
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Which reminds me, what the the SEC limitations on insiders buying options of companies they buy before announcements? :) they're not actually affecting the stock price for shareholders, just screwing over fellow option gamblers.
 
Quote from scriabinop23:

Which reminds me, what the the SEC limitations on insiders buying options of companies they buy before announcements? :) they're not actually affecting the stock price for shareholders, just screwing over fellow option gamblers.
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That's insider trading.
 
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