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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
out at 10.75 massive for me! up 33.75
PS: there was no real reason for that incredible exit. Pure luck, the 5 min. boll avg is 882 and change, just had it in my head to front run it and got lucky!
selling one here
short one from the 5 min avg 898.00, 3 point stop
WELL THAT DIDNT LAST LONG. stopped for a 3 handle loss...watching
selling here 907.75
wow, didnt even get my stop in! FREAKED AND UN LOADED AT 910.75 for another 3 handle loss.
one last try, selling 912.00, 6 point stop
dead, i give up... for now... up 21.75..
buying one
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?"