Greg, for any posters or lurkers here who may be interested in MRVC options, the Options Clearing Corp. has now authorized for trading the January, April, and July series for the 45, 50, 55, and 60 strikes. That's what happens when a stock goes up 18 points in 2 trading days...<vbg> They trade under the symbol VQX.
Presumably the market makers at the options exchanges will establish quotes after the opening tomorrow (just before the close today no quotes were available).
FWIW: MRVC options are multiply-listed on 3 exchanges: the Pacific, CBOE, and Amex. And please note: the pricing is NOT electronically synchronized and DOES vary at the same moment in time. [The option exchanges are under some pressure from the SEC to provide some kind of electronic linking in order to address this issue.] For those interested in trading these, I highly recommend that you not rely on a real-time quote system, entering orders electronically, unless your quote service provides actual quotes from each exchange AND you can control routing. A human trader can check the various exchanges and direct routing on orders to obtain the best price.
A final note....I used to think that selling covered calls on long-term MRVC positions after a strong run-up was a clever way to scalp a little premium and reduce margin debt.
I didn't get caught today, but it was close <shiver>.
No mas, no mas.......my timing just ain't good enough.
BP |
