Monday, September 19, 2005

Long Oct 39 puts

I purchased the Oct 39 Puts at $0.50. Not really happy about that as I was trying to get filled at $0.40 on Friday and then again this morning. I moved the price up to $0.45 as the market showed $0.45/$0.50. Getting filled off the bid isn't that odd, but with the massive amount of volume on the Q's...it can take awhile. Then you're just chasing the position. I KNOW I want to be short (or long puts) so this isn't really a time to chase. But I know every $0.05 of options movement is a few bucks. QQQQ's were $39.30 at the time of my fill, currently they are falling slightly and the overall market seems to be turning red. Down we go? My system says so.

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