I've never been aware before that options are traded so voraciously upon their expiration date. It seems that the volume was the highest on the August options today. Interesting, huh?
I had 120 of the150 sept 12 1/2 calls on OO today. First, I hung them out there at 5/8 premium. Then after a while, my broker called and said that 3 of the 120 contacts had been purchased. He suggested that I lower the ask premium. I said "Let's go for 1/2, down from 5/8."
Curiously, enough,
about something less than an hour later,
my broker called to tell me that the remaining 117 contracts had been filled at 1/2.
Hences, about 6k in pocket today.
When you start trading futures, its harder & harder to draw the line of dertimantion, up or down, black or red, . . .but I view it as a step up or towards black.
grasshopper |
