Even yesterday the volatilities and spreads were too high to make straddles a goer. MMs have learned something through the last few major declines and it's become harder to crack them. I managed to load up with puts near close, which was probably the best play - though I wish I had 3 times as many and had been able to enter futures. Well - there'll be another chance later on.
Market appears not at bottom at this stage, really a fairly leisurely descent at 200 down (3.10 am). Seems a fair chance that the present congestion area 7500- 8000 will hold the Dow for now. This is really very much like trading all the big losers we've had recently - but for the whole index.
Because I didnt have time to get set on something more spectacular (just came back from OS) essentially I'm trading a stock at a time. If something breaks a major resistance, I short it. If something hits a downside target and stops - I clear.
Best not to short too many stocks or you wont be able to follow them - or to sell them all if they all hit target at once. Very big positions on a couple of stocks is probably a better strategy if you have time to get set.
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$4.81 |
Change
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Mkt cap ! $3.230B |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 19659 | $4.81 |
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Price($) | Vol. | No. |
---|---|---|
$4.82 | 1109 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
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1 | 5000 | 4.790 |
1 | 435 | 4.770 |
2 | 230 | 4.750 |
4 | 11347 | 4.710 |
Price($) | Vol. | No. |
---|---|---|
4.820 | 1109 | 1 |
4.830 | 1109 | 1 |
4.970 | 201 | 1 |
4.990 | 200 | 1 |
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