Wednesday, October 10, 2012

Wed 10.10 recap

The /ES closed lower at 1425.

$FDX opened at 88.31 then climbed near-linearly to 90.93. That was good for juicing a double out of the Oct 87.5 call and a near triple on the Oct 90 call.

$YUM opened at 70.18 and sold off a bit then worked its way up to 72.00. The 70 and 72.5 calls traded erratically off the opening "amateur hour" speculators (aka, guys like me)

$CMI opened at 86.58 and then slowly zig zagged to 89.60 before selling off to close at 87.79. The call action wasn't by any means bearish.

$NAV opened at 21.70 then creeped up to a day high of 22.39. There's so much damn vol in the weeklies that it completely turned me off from trading it, which was good because I would have lost money. The weeklies were also thinly traded (i.e. like 49 total between calls and puts).

$WMT - I was eyeballing the 75 weekly calls figuring between $COST news and the Walmart investor conference it would have to rebound to where it was trading a day earlier. And rebound it did. It opened at 74.65 and hit a 52wk high of 76.81. It ended up closing at 75.42. The 75 calls were good for 600%, from .30 to 1.86.

$CAT seems to trade with whatever way the wind is blowing that day. It opened at 83.89, hit a high of 84.37 then sold off throughout the day, hitting a low of 82.60. I had also seriously eyeballed the weekly 82.5 puts knowing how fickle $CAT can trade. The 82.5 puts were good for just about a double, depending on what spike you bought them on.

That was all I was really paying attention to today.





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