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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
I think hedge funds are un loading big time to handle record redemptions (and losses)
come to Papa!
looking for 878-882 for a sell zone
Covered flat, should have taken the +8 when I had it.
selling 881.00 one only!
5 min. boll avg is 884
this pause is the 1 min. boll avg 881
Short 877 SL
short one with my stop above the 5 min. boll.
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?"