Pinny Thursday

Haven’t talked much about pins this week, after posting like 27 times on it last cycle.

Why? No particular reason. On the one hand, low volatility begets many pins, and we certainly have low volatility. We barely move in any given day now anyway, so not sure expiration will add much excitement to it all. Even today, feels like a crash and we’re down all of .9%. You can basically assume that if a stock hovers near a strike, it will stay put. The only risk these days is the overnight, once we open we freeze lately.

Another reason not to get all excited about pins is these $1 wide strikes everywhere. You can’t help but pin now.

So all that being said, we can look at a few.

BIDU hovering near 420. Not much open interest to keep it there though, only 3200 total on the line.

GOOG? Can’t get away from the 595 strike. There’s no open interest though as it’s not a strike. There’s 11,900 Dec. 600 calls out there though.

How about FSLR? 12,600 total on the 135 line, evenly split. Kind of a risky name to game though, to say the least.


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