Friday, September 12, 2008

added SPY 120 puts @ 0.76

10 comments by xTrenders :

IC said...

Taking them off at the end of the day, or are you actually considering holding over the weekend?

admin said...

I have to see the last hour action.
I am think it is about to get very ugly right here.

IC said...

Dude your balls have got to be chaffing your knees if you are even considering holding short term expiration options into the weekend. I am there also, but my balls are small; if I did that I would hedge with shorting the dollar against a possible rate cut Monday morning.

admin said...

Cut? Dont be funny lollll.
But I may close most of the options today, perhaps ES too.

IC said...

What else does Bernanke have left? The IRX is moving down, he has the space.

Odin said...

Is the fact that the SP500 is bouncing off of a descending trend line influencing your bearishness?
Odin

admin said...

I am following a pattern that is shaping up like a text book.

According to the formation, SPY will at least test 123.75

If this happens and close the day around that number, it should gap down below yesterdays low on monday

Odin said...

Could you please describe this pattern to us? I would love to learn it. I too am short ESU8 but because I see it bouncing of the descending trend line and because yesterday's close was a bit bearish on the volume.
Odin

admin said...

i ll try after the close

Odin said...

Hello Admin, could you please describe the pattern to me? Thanks.
Odin