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July 26, 2007

Comments

whitecloud

stock options expiry day today - with a vengeance

Trembling Hand Trader

Yes what a beauty of a hit hey? Surprised me but I guess it shouldn't of. The last couple of months have been the same pattern on options exp. Hope you got onto it i got smoked!!

whitecloud

On Tuesday the SPI held above 6400 on heavy buying, with net supply-demand strong all day, price could not rise, a passive seller was giving buyers everything they wanted. On Wednesday, with the DOW down 200+ points, and once long stops were out of the way, the rebound you were looking for should have emerged. Net supply-demand had aggressive sellers overwhelming buyers all day holding price down, killing off the rebound. The fact sellers were prepared to maintain short positions and not cover yesterday, running into the options-run, was evidence the market was short and holding.

Trembling Hand Trader

Yep no argument there. I was surprised to see that the Open Interest went up yesterday. So the shorts did well the last 2 days. Just one of those days for me.

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