es - 9-29-08
I'm begining long campaign down at 1183.25.I may be early and I may even be wrong....but we had the low tick s and high volume thrust.....real key numbers are at the 79 - 84 area....1202 has overnight single and part of fridays key volume zone.....no doubt a hard trade to take..good luck to all today
Covered 1/2 of those longs at 36.5 (+16.5 on those) Buying some 112 SPY calls
MINI TOP HERE 1 MIN CHART AND 5 MIN PROJ (1135) JUST HIT
The limit hit before regular hours.
5.7 on those calls, there overvalued 1.5-2$ This is crazy.....buying some NOV as well
Great cover Joe!
I have never seen the premium on options rise so fast...Thanks to the VIX closing in on 50
mov avg support 1123.50-25, thats where id add calls, Joe
ive never seen the vix that high! think 1987 maybe.
Thanks kool I got smacked hard on some options a while ago, I could have lost the whole thing and still been okay for the month I should have opened an option account years ago. I bought at a bad time on those last calls but I am confident it'll come back before Nov exp.
I think the VIX was 150 in 87, thats what a trader who trades who trades options or futures or spread on the premiums or something related to the VIX from the CBOE floor told me....
Thanks Charter Joe, I will work with them and ask questions along the way, if you don't mind.