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David
I would greatly value your opinion on the following. I have been daytrading OEX
options and usually pick the at the ATM front month for example today I scalped
OEWTH from 3 1/2 to 4 1/4 and then back in at 2 15/16 and back out at 4 1/8, I
have noticed that further in the money puts don't have the volume to scalp in
and out as much. Is this symptomatic of this market and expiration week? Also do
you think calls move better on up days than puts on down due to an over all
bullish sentiment in the market? I usually pick the option to daytrade based on
the best Delta and open interest combined. Yet the screen will usually show me
something a little different after the open and I have little intraday
opportunity to short calls on down days as they seem to move down and stay. Any
thoughts you have time to pass on will be appreciated.
"The darkest hour in any man's life is when he sits down to plan
how to get money without earning it"
Sentinel Trading
rjbiii@xxxxxxxxx
____________________Reply Separator____________________
Subject: Re: market/oex update: NOT hindsight
Author: owner-realtraders@xxxxxxxxxxxxxx
Date: 8/20/98 1:10 AM
Gary,
I LOVE your enthusiasm.... AND "word to the wise;" do be cautious with the
way you choose your options' strike prices and expiration dates.
As you see in my e-name, I AM into the "Delta-Beta" stuff. A good way of
thinking about options (especially OEX options) is that the closer to ATM
(At-The-Money) or deeper ITM (In-The-Money) the option is, the more
HORSEPOWER and higher OCTANE it has. The farther OTM (Out-of-The-Money) it
is, the more immature and weak it is.
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