Option opportunity...

[pietistic]

RMBS PUT .BNQMW

Wait for RMBS to show weakness before entering it...

[pietistic]

I'm in a $2.20... very speculative play.

[jacobnbr1]

i got in to work late and didnt see the post in time, the chart looks like a pull back is needed to fill a gap. i will watch closly for an entry point.

[pietistic]

jacob, what do you think about this extremely tight trading range MSFT has gotten itself into?

[jacobnbr1]

i am not sure. muse has been doing the same thing. i would have to say news trumps technicals. it looks to me that is building a zone or a foundation, the only thing is, i think xbox360 takes it higher through christmas as "funniemental christmas hype" so i am just really waiting for a movement that says stay short or exit... it might be another appl you know? if it is another apple i am going long with a leap or till april....

[jacobnbr1]

well pie? looks like we get burned for holding muse so long. and msft bucking us.

[vthokienj]

I bought some shares and sold the RMBS calls (.BNQAW) for Jan 06 - 17.50.
A lot of volatility built into the price, this is easy money.

[pietistic]

MUSE is definately a wash, I've wrote that off as a complete loss. We should have take the 30% prior to earnings being released. We were pigs and got what we deserved.

Don't give up on MSFT. Fell on heavy volume late in the day after it bumped it's head on the 28.08 resistance. In addition, a block of 5 mln shares went off after hours @ $27.89. I think we just needed to break out of that resistance to increase our option value and now watch the fall.

I doubled up on my RMBS PUTS. I'm a little skeptical because I haven't been trading that well lately. Still up quite a bit but I hate losing trades.

[jacobnbr1]

i see mr. msft got fined 32 mil by south korea watch dog? this should be good for da shorts i guess, never knew it was going on or there was a possibility of a fine. what about you piestetic???? you on vacation this week?

[pietistic]

I'm not on vacation, just busy. MSFT is looking good still. No idea why it's fighting the downward pressue so strongly, I would have thought it'd be down to atleast $27.25 by now.

[pietistic]

Out of my MSFT PUTS at .45 (tried for .50 and couldn't get filled). 36% gain, enough for Christmas!

[jacobnbr1]

Out of my MSFT PUTS at .45 (tried for .50 and couldn't get filled). 36% gain, enough for Christmas!

you dont think its gonna fall more? i was out on bidness today and did not watch the market.

[pietistic]

It may have an up day tomorrow, and the options expire on Friday. I do think it's going to go down to $26.50 or so...

[jacobnbr1]

It may have an up day tomorrow, and the options expire on Friday. I do think it's going to go down to $26.50 or so...

ok. well i am gonna watch close and get the hell out. forgot about the exp. :roll:

[jacobnbr1]

that was close. i am out. good!good!good! msft.

[pietistic]

Argh, you probably made more than me! Saw it was trading for .60 and I got out at .45. DARN!

I'm announcing my lock option trade of the month.

EYE - JAN 45 PUTS .EYEMI @ 2.15-2.20

[pietistic]

$2.10 is a hell of a bargain for these things. Implied volatility is near 52 week low, so the premium is super-cheap. In addition, stock has shown ADX/price divergence over the last two weeks; stock price increasing, ADX decreasing.

[vthokienj]

I see the price and this option in Yahoo, but through Scottrade I see a Jan 45 put with symbol .AVOMI with an ask of $6.30. Something is not right.

[pietistic]

.AVOMI isn't even a valid symbol according to OptionsXpress.

[vthokienj]

I just confirmed what I saw again. Not sure why Scottrade does not recognize this contract then. It is a basic 100 share contract, no other shares or cash mixed in. Weird.

[pietistic]

Very strange, I'll check the womans Scottrade account and see what it says. I buoght in at $2.20 (just 3 contracts) but the ask is now sitting at $2.10.

[pietistic]

She doesn't have option access, but I typed in .EYEMI into the quick quote and it came back with the option...

[vthokienj]

Yeah if I punch in that symbol I can find the option, but still doesnt appear in the option chain. December and April chains all start with .EYE but the Jans are all .AVO. Again, weird.

[pietistic]

Has to be an issue with their option chain view. Oh well...

Yeah if I punch in that symbol I can find the option, but still doesnt appear in the option chain. December and April chains all start with .EYE but the Jans are all .AVO. Again, weird.

[pietistic]

Sorry you all missed the boat... I tried to tell you, LOCK of the month. I'm already up 22%. :)