MSFT went up to above 27 AH. Buying May 27.5 puts is one way to play with the pop.
It’s good opportunity to buy some SIRI. It’s still in the long-term uptrend.
MSFT
Tag Archives: Long
Option Pinning …
Option strike price sometimes has interesting effect on the market during option expiration week. Looking at MSFT chart, we can see it slides towards 25. Based on the option trading volume data at Yahoo, there were 10,791 contracts (Apr04 25 Call) changing hands with 79,265 still outstanding, the heavest traded strike today. For premium sellers, it’s to their advantages to let the contract expire worthless, which means in this case that MSFT has to go below or at 25 to let Apr04 25 call contracts expire worthless. I have a small long position where I had sold some at 0.95-1.05 earlier and hold some until today I sold them at 0.7.
SOHU
Long SOHU Mar 30 C @2.30. This is a play at major support level. If the support around 28 holds up, SOHU will move back into lower 30s.
Tomorrow is the first day BOX opens for trading. I hope the stupid cancellation fees charged by all current option exchanges will be forced to be removed due to increasing competition. There’s another stupid rule in option trading, that is, you can not have 100% electronic transaction. Up to now, all exchanges require at least somewhere during the order entry process, a human involvement must be present.
Waiting to see job reports tomorrow.
ES
I hit my head when missing the spike 1131 to 1136! It happened seconds after closing a long position. After lunch, a short worked ok although the target was set at 1135 missing half of the plunge. Oh well, I was not watching the market anyway.
Increaded LFC position. It’s moving down lately. Likely it may find support at 25, its IPO price.
Closed SUNW position. I may reopn it when it breaks out or continues building base around 5.5 level.
Long LFC
Open a long position in LFC at 30.67. This is for long term. My stop will be at 25.