ICE Tease

• Posted by Adam Warner
• on October 16th, 2009

So have spent the first part of today tending to a FAS position that’s gone through 27 strikes already, and missed something I had taken a mental note to watch, a break of ICE through 100 or so.

One thought was to sell call spreads into it, but with a short leash as it might also be about time for that recent tight range to get violated. And lo and behold, it all happened in a half hour. I’m now tempted to play off the bullish side, either short some higher strike put spreads (I have some Octs on that will go away today) or just keep it simple and buy stock with a stop.

As to one we noted yesterday, AAPL a funny one. The market’s not down that much and GOOG is actually holding fine. If I knew all that yesterday, would have definitely expected a 190 pin. But that’s why they play the game (or something like that). IBM I supposed a factor too, though who pays attention to IBM any more.

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