Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (41048)	6/24/1999 10:30:00 PM
From: pater tenebrarum	Read Replies (1) of 94695

Bill, index put o.i. is remarkably low right now, which is clearly a danger sign. when i checked the various DJX series, i noticed that there is vast call o.i. at the december 84 and 88 strikes - somebody is betting big that the market will tank until then. 100's at 1/16! i sometimes play these low probability otom puts as well, especially when i see put demand and the VIX jumping; i traded a huge position of OEX april puts from 1/8 to 1/4 one or two days before expiration. i just speculated with 'house money' so to speak, and i'm still amazed i found a buyer. btw, the DJX 100's closed at 9/16, 1/2bid 5/8ask. regards, hb

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