I agree trading the volatility is easier said than done, but if you figure on 2900 as probably the lower support (could break--but so far seems unlikely) it's interesting to see what you can do--don't bet the house but, for instance,
Both SEBL and NTAP have been in a pretty consistent trading range (unlike QCOM--I wouldn't trade it right now for anything, who knows where it's going). I put in a limit that I didn't get (low) for SEBL Nov 150s (had previously traded the 180s). They were a little under 6 at the low today, I tried 5. SEBL traded down to about 91 or so, and closed up at 113 I think, or thereabouts. Those calls went from 6 to 13. Not to say this would necessarily happen in one day, but 91 was a good opportunity, and it's been pretty consistently hitting the teens, and on any NAZ rebound (which we may continue to have tomorrow and Friday) it would go back into the 120s. That would be a lot of $ to make in a few days.
Not recommending this one way or the other, just noting how it traded today--also it should only be what you're willing to lose. Although as far out as Nov you should be able to trade them successfully.
As I said that was a trade I *didn't* make today, I did trade NTAP agian successfully. Those low limit orders hit. I don't feel like accumulating any positions yet as I assume the ride will continue to be bumpy. |
