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There is no question that February options have a different dynamic from
the January Gamma trades with one week to go. Buying at the money calls on
a Friday a week before they expire is a very tricky (make that foolish)
high risk thing to do. Ala shades of Neiderhoffer. "E" week is the one week
of the month when it is possible to win the lottery, but it takes some fine
tuning of the intraday chartwatching. It is possible to take home doubles,
quadruples, ney even a ten for one on rare occassions when out of the
monies go into the money.
Attached are the cone charts for today and for Monday with price
probabilities next to the vertical blue line.
BobR
http://www.oextrader.com
At 03:57 PM 1/9/98 -0800, John Chamberlin wrote:
>It looks like a ST bottom to me as well.
>
>Haurlan @ -1100
>McClelan @ -134
>Projection Bands @ 4%
>
>I bought OEXBI @ 12 1/2 (Feb 445 Call).
>
>My trade has an anticpated duration of 4 trading days
>with an exit target of 448 - 450 (i.e. OEXBI @ 18).
>
>I like your OEXAI (Jan 445 Call), however they expire
>next friday. My trading rules don't allow me to
>enter with less than 20 days of time.
>
>I realize there could be follow through selling
>monday and entering calls into this decline is the
>proverbial catching a falling knife trick. Just wish
>us luck.
>
>John
>
>
>
>===
>john@xxxxxxxxxxxxxx
>
>
>
>One friend in a lifetime is much; two are many; three
>are hardly possible.
>--Henry Adams
>
>
>
>---bobrabcd <bobrabcd@xxxxxxxxxxxxxxx> wrote:
>>
>> Went for the oexai for 6 1/4 on smi reversal and
>extreme pivot extension.
>>
>> BobR
>>
>> At 02:15 PM 1/9/98 -0500, G.John Boggio wrote:
>> >Not me!!! Further, if we close near the lows
>today, I will be selling some
>> >current positions so that I am not holding them
>over the weekend. It
>> >doesn't look good right now!
>> >
>> >Boggio
>> >
>> >
>> >At 10:14 AM 1/9/98 -0800, bobrabcd wrote:
>> >>One last view for today. DJIA hit the exact
>bottom of the Stat pivot and
>> >>we have the mid day divergence. Anyone gutsy
>enough to do the Larry
>> >>William's trade.
>> >>
>> >>BobR
>> >>http://www.oextrader.com
>> >>Attachment Converted:
>"c:\eudora\attach\djiP0109.gif"
>> >>
>> >>Attachment Converted: "c:\eudora\attach\flow.gif"
>> >>
>> >>
>> >
>> ATTACHMENT part 2 image/gif name=Oexai.gif;
>x-mac-type=47494666; x-mac-creator=4A565752
>>
>>
>>
>
>_________________________________________________________
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>
Attachment Converted: "c:\eudora\attach\cone22.gif"
Attachment Converted: "c:\eudora\attach\cone11.gif"
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