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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Zeev Hed who wrote (61109)5/3/2002 11:28:22 AM
From: brightness00  Read Replies (1) of 99280
 
Unless we get a black Monday, I'm not even gonna bother covering. Why bother, we are just gonna lose 20-40 NAZ points a day. I have been shorting since QQQ35 (thanks Mish for your max pain analysis), more shorts every half point down. Wrote some QQQ32 puts when it was near 32, pocketting $1 premium, so I effectively covered some of my shorts at 31; obviously too early. So when it bounced back to near 32, I shorted more to account for the puts that I wrote, more shorts again every half point down. I will most certainly continue this exercise until we get a massive down draft, like a Black Monday. I think the MM's are delta-hedging this month big times. No Black Monday means more aggregate down next week.
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