I spent most of Friday morning torturing myself for selling all the OIH puts on Thursday. After trying to keep up with the wild market swings, I finally took some AAPL Oct 95 Calls home. We may get a gap open tomorrow morning as current futures suggest but I'm willing to miss out on the gap and enter on a pullback. If we finally get the rebound that everyone is expecting, I'll be looking to enter at-the-money options in UYG, AAPL, GS and OIH. I also like FNM/FRE shares. At $1, the long-term risk/reward looks good.
The fundamentals are still horrible so any bounce will be purely technical. Also, any bad news from MS or some of the dow components such as GM will send this market right back down. We're going to get earnings from a bunch of the banks (C, JPM, MER, WFC, ZION, etc) as well as GOOG so for the daytraders, the volatility will march on. Stay nimble and don't forget those stops/trailing stops!
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OE, bought a bunch of IR calls (22.5's)for a move to 30. Have calls on NCC-playing buyout runmor.
Hope your balls were as big as mine! Lol.
OE, out of IR this morning-nice profit. Just went into INTC Oct 16 Calls (200) @ .45-I think they surprise and gap up-yes it's a gamble, but mm's shaking for this expectation....imo.
OE...correction INTC Oct 17's
D, hope you were able to exit IR on that pop to 27+! GL with INTC. Looks like INTC got a little pop afterhours. I'm pretty much all cash for now.
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