Just because something seems cheap doesn't necessarily mean it is. Buying options this far out of the money a day before OPEX is like betting on black when 33 of the roulette tiles are red, imo.
Everybody here seems to hold the market makers in such contempt, I don't know why they'd be so eager to give them their money.
If you wanted to trade June options, IMO you should be trading ITM. I don't like that play, either, but at least you'd be holding something of value.
To me, it looks like it had been in a falling wedge since last Tuesday, that it just broke out of yesterday. From that, it ought to work up to its old high, but the path will probably meander.
There's another formed over the past week, with the neckline 1090-ish.
Sounds good!
It is all gambling, with varying risks and rewards. This option goes in the money at 1090. I think we'll see that today.
I wouldn't bet the farm, of course.
the neckline is around 1102, so probably 1080
1075 close enough I guess
You mean the one pointing at 1075?
H & S ON 15 MINS SPX?
Just because something seems cheap doesn't necessarily mean it is. Buying options this far out of the money a day before OPEX is like betting on black when 33 of the roulette tiles are red, imo.
Everybody here seems to hold the market makers in such contempt, I don't know why they'd be so eager to give them their money.
If you wanted to trade June options, IMO you should be trading ITM. I don't like that play, either, but at least you'd be holding something of value.
They are $0.04 now.
For $0.04, I'd watch a monkey relieve himself. 🙂
OTM options that expire tomorrow are not a good r-r, imo.
To me, it looks like it had been in a falling wedge since last Tuesday, that it just broke out of yesterday. From that, it ought to work up to its old high, but the path will probably meander.
I am in your Camp on this one Diablos 🙂