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Strategies & Market Trends : The Options Box

QQQ 625.58

-0.3%

Dec 11 4:00 PM EST

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To: Poet who wrote (9282)	1/25/2001 12:49:09 AM
From: johnsto1	Read Replies (1) of 10876

Got a quick question that may be of interest to others also. Monday I sold HGSI calls I had picked up Friday and waited until Nasdaq low to by 100 EMC feb 95's for avg of .625 when EMC was trading at $74. (I had planed the trade to sell into a EMC earnings run to say 80 on Tuesday) So Tuesday EMC goes to high of about 79-80(I should be able to turn over my 100 contracts for a $1 profit and book 10k,right?)wrong-the calls roll negative to .375 Tuesday and today while EMC is moving up strong at 79-80.(I dumped them today for small loss when EMC was $82 I got .5625) I had tracked these contracts for a few days so I knew if I got 1-4 pts off EMC underlying I would do very well. Question: being 4 -5 weeks away from expiration and it being a Tuesday so there's no weekend delta reason,can you think of a reasonable explanation for this. (EMC options trades on all the exchanges and they all followed the same patern to a T) Without sounding like a complainer(which I'm sure it does)it almost feels like there is legitimate compliance issue with the integrity of the market,but I know that's a reach. thanks

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