2 This is my theory for between now and next friday:
BKS JUN 16 2012 16.00
PUT
PUT
DDM JUL 21 2012 60.00
PUT
PUT
GME JUL 21 2012 20.00
PUT
PUT
LNKD JUN 16 2012 90.00
PUT
PUT
LULU JUN 16 2012 65.00
PUT
PUT
RPRX JUL 21 2012 10.00
CALL
CALL
RPRX JUN 16 2012 7.50
PUT
PUT
SPY JUN 16 2012 130.00
PUT
PUT
SPY JUN 16 2012 131.00
PUT
PUT
SSW JUN 16 2012 15.00
PUT
PUT
YHOO JUN 16 2012 15.00
PUT
PUT
It’s a bit white knuckle, but I’m not buying this rally at all: They’re gonna need to show more strength by the afternoon or else everyone but the permabulls will get out, and certainly nobody’s going to want to hold over memorial day weekend…
2 Responses to “The Crack-Up”
Tom
I take it you’re buying the options, not selling them…
smerdyakov
Of course, of course–second day the bulls held the line, but tomorrow’s gonna be tough, especially with the long weekend and I think they’re exhausted. Once the 131.50 line goes and everyone realizes they especially don’t want to be holding over the long weekend, it’s all blood.