Ter puts

[ninner]

how about those TER 90 buck puts from last week...made a killing on them LOL

[ninner]

sorry

i meant TEX 90 puts!!

[New-born baby]

how about those TER 90 buck puts from last week...made a killing on them LOL

If she ever clears $77.50 to the South, $67- looks like a cinch to me.

[ninner]

i sold those puts today...i agree alot of support there but i think it may be building cause to go further down...vol has been strong to the downside pushing the lows that tells me its going lower...probably to that area...if it breaks would you go with the 80 puts....i know u are an option expert NB.

cheers

[ninner]

Bucy

Im also thinking about buying some BUCY puts they report earnings Thursday after the close.....im looking at the 70 or 75 Aug puts....im just thinking of when to pull the trigger on it...any suggestions...im just learning the option deal!!!

[New-born baby]

i sold those puts today...i agree alot of support there but i think it may be building cause to go further down...vol has been strong to the downside pushing the lows that tells me its going lower...probably to that area...if it breaks would you go with the 80 puts....i know u are an option expert NB.

cheers

I am not an expert--somebody like Bernie Schaeffer is the expert. But concerning the BUCY puts . . . let's see: BUCY has already fallen to its $62.50 support. The PnF likes it South all the way back to $44, and the weekly chart would say that BUCY's intermediate support between $62 and $44 is not all that impressive. You stated you were thinking $70 or $75 puts. That would steepen your risk considerably. Why would you not sell the $65 put since it is already in the money, and risk a lot less? The put would change on a dime by dime basis.

I myself would buy the $65 put at $2.80. Man that's cheap--only $0.30 above the current stock price. Thus the breakeven point is at $62.20. The $60 put is $1.30, so you need the stock to move to $58.70 just to break even. That is giving up way too much, in my opinion. See what I mean?

Let us know what you do. I like your eye, Ninner.

[ninner]

the 70 and 75 puts are also in the money puts and have been more volatile than the 65 puts i thought that would be a better play.

[skiracer]

i meant TEX 90 puts!!

did you buy the aug or sept 90 put ninner? not much time value left in the aug 90 puts or the sept 90 puts for that matter. brassy and lucky move on that play but a nice outcome. what did you pay for them and what day did you buy them last week. I was looking at both the daily and weekly charts on TEX and was wondering if you would explain what you saw there that brought that play to mind. It had been in a nice uptrend for awhile before that recent drop.

[ninner]

hey skiracer, i sold them yesterday actually..and im looking for a new play...they were the Aug 80 puts...i will go into more about what i saw in the chart and the overall market when im done work...i have been out of the market (long pos) for a few weeks now and been short....i love those TWM's baby!!!

[ninner]

sorry i bought them on wed...cant think the last few days lol

[New-born baby]

the 70 and 75 puts are also in the money puts and have been more volatile than the 65 puts i thought that would be a better play.

A $65 put and the $70 and $75 puts are all going to move at the same pace. They all have very little time value in them, but the risk is greater with the $70/$75 puts because you are putting more money down on the table. And if the market bounces hard--it could--you'd be stung pretty hard on the $70 and $75 puts.

[ninner]

how i knew that i would win on this trade....pretty simple....i knew for the last month or so this market was going to be going down hard....so i was pretty cautious...the indices were going up on very low volume so they were bidding up prices with no one in the store....distributing the stock in the market place...bad sign...i noticed companies from this group were starting to sell off abit ...and running up on no volume just like the market indices...bad sign. I knew Terex was reporting after the bell on wed and had a hunch that they would show slower growth and in this market it would be just an excuse to sell off....i didnt know they would miss revenue estimates..that was the nail in the coffin...this market is done for awhile and we are going alot lower.......

cheers