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ES 10-16-08

wow, a crazy globex session basically coming out flat. Volitility is very high, so entries and exits have to be quick! looking to buy near the open
short from 881.00 stop , covering
out at 876.50.. 4.5 there, up 23 now .. i didnt hold but got out near the first pause cause i think we now 'mish- mash ' around for some time before resuming the decline. In fact ,im going to grab some lunch (so i dont give it all back!)LOL

Stopped out
Short (small) @ 887, I'll add on the way down
Stopped out -7
AHHH , a little food, a little Mozart, followed by eddie van Halens eruption and im ready to go! selling as close to 899 as i can get
TRIED FOR 898, SHORT FROM only 4 point stop
looking for 882, bailin at 885 area
1 min. avg holding it for now...887.50
a friend sent me this tonight so I thought I'd ask you folks:

"These are for the November options.
Do you have a clue what the catch is?

Sell 94.00 puts 94.00 SWGWP make +$9.48
Short the SPY at $94
Buy 94 calls 94.00 SWGKP pay -$4.73
Net profit $9.48- $4.73= $4.75
This looks like a risk free trade to me.

What's the catch?"