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A slam which way? There is a school of thought that would consider the
extraordinarily high put premium you sight as a very bullish sign. I'd do a
little work on the probabilities of the market trading down to the point it
would have to go by expiration to make money on these things before I
loaded up. I'll bet it's not likely regardless of Monica, Russia, Asia,
etc., etc.
Regards,
Tom Alexander
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> From: gary gray <ggray@xxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: sell the rumor, buy the fact: Clinton
> Date: Monday, August 17, 1998 7:34 AM
>
> Wow,
> You want to talk about a setup for a slam. This time last year (almost
> to the day) I bought the March SnP 500 puts (SPZOT) at the time they
> were 3/8 $37.50 each!! and I believe the SnP index was at about 900.
> So I bought puts 400 points out of the money witht 7 months to go for
> under $50 a piece. When the market sold off (record down day) on Oct.,
> 27, 1997 I sold the puts for 2 3/8.
>
> Reality Check: It is one year later. The same puts
> SPZOT ARE NOW THE 700'S They are once again about 400 points out of
> the money and some lucky soul bought 250 of them on Friday at 10!!!
> That's $250,000!!
>
> If this huge premium doesn't tell you the market is going down
> big-time........
>
>
>
> Regards,
>
> Gary
>
>
>
>
>
>
>
> ---khanitha <charlie@xxxxxxxxxx> wrote:
> >
> >
> >
> > ----------
> > > From: khanitha <charlie@xxxxxxxxxx>
> > > To: JER3CUBE@xxxxxxx; RealTraders Discussion Group
> > <realtraders@xxxxxxxxxxxxxx>
> > > Subject: sell the rumor, buy the fact: Clinton
> > > Date: Sunday, August 16, 1998 9:42 PM
> > >
> > > Hey Rt's.
> > >
> > > Here's a common cents($) observation. We have been heading down
> over the
> > > last few weeks in the oex/spz, etc. Well, doesn't this remind
> you of a
> > > classic common cents($) set-up: We are about 1000 lower on the
> globex,
> > > 10pm hawaii,
> > > 4 a.m. east coast. So we open lower, and panic selling:
> BEAUTIFUL, i'll
> > > be buying oex calls shortly after the open, wouldn't it be
> beautiful if
> > we
> > > get down to the 200 day ma, around 505 then reverse straight up
> for the
> > > next few days!!!
> > > i'm putting my money where my mouth is, i'll talk to you all in a
> few
> > days!
> > > reply to all comments welcome......
> > > gary
> > > hawaii
> > >
> > > ----------
> > > > From: JER3CUBE@xxxxxxx
> > > > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > > > Subject: Re: Market bottoms
> > > > Date: Sunday, August 16, 1998 3:00 AM
> > > >
> > > > In a message dated 8/15/98 8:49:50 PM Eastern Daylight Time,
> Remotest
> > > writes:
> > > >
> > > > <<
> > > >
> > > > I see what you are doing. Thanks. Raleigh >>
> > > > See this weeks Barron's Market Watch column. Prechter is doing
> the
> > same
> > > > thing. Calling for an Aug 17th low (MONDAY) 31 days from the
> high, and
> > > > a rally into AUGUST 24...maybe 28, then HARD DOWN.
> > > >
> > > > He relates the count to being identical with 1929. Why Not? It
> > probably
> > > > relates to counts in between. We have a habit of focussing on
> '29.
> > > > Isn't it strange that we should do that?
> > > >
> > > > GerryB/jer33:3/eccl 1:9
> >
>
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