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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
gone .. now upo only 3.5, Good call, Bruce
long 2@ 925.00 looking for that 932 to be taken out!
cant stay too long, getting very overbought up here!

Nice call on 950 almost there.
out at, impressive move! 7 handles twice 17.5 and tightening up
mini peak at 3:15 working its mojo
1,5 and 15 now overbought.. gotta look to sell, but only one
selling one at 934.00, 3.5 stop
Short at 933, I haven't called a ton of calls in here this afternoon, time doesn't allow. But I have no idea where I sit in terms of points I'd say at least +60. Markets are moving 3 points before I can move my mouse 3 inchs
Out @ +4
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?"