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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

-1.5%

Nov 20 4:00 PM EST

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To: HairBall who wrote (29658)	10/14/1999 4:18:00 PM
From: Lee Lichterman III	Read Replies (1) of 99985

Well I will call it max loss from now on so I don't infringe on any copywrites <g> but it will be meaningless at the close tomorrow. Options are settled based on the closing prices the third Saturday of each month which means obviously that Friday's close is the basis. Some options do expire early on Thursday's close but I am not sure which ones. The OEX and most other index options actually trade for 15 minutes past the close so I usually close them out even if they are winners just to be safe. I have seen the pits rally or dump after the 4:00 close just to align everything to thier liking too many times. <ng> Just to make clear to any lurkers out there, my attempted play was a one day play only on tonight's earnings and a dead cat bounce expectation for tomorrow. I would NOT buy it tomorrow morning for a play. Good Luck, Lee

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