w000t wednesday, page-53

Robbb, why do you suggest you have to hold the stock in your portfolio to play the options expiry stuff? Writing options this week is probably a little crazy imo unless you are doing very specific spreads. Options expiry week usually has plenty of big swings and weird moves so wouldn't it make more sense to to be an option buyer rather than writer as the risk is only as much as you put in the market.

I feel sorry for those option writers that were on the wrong side of the RIO move. That over night gap would have been a killer and it demonstrates why I haven't played options in a while.

I will use them again but not when the VIX is up around 60. When it's back around 20, I'll look at options again.