The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: patron_anejo_por_favor who wrote (60474)	8/22/2006 8:07:37 PM
From: ChanceIs	Read Replies (1) of 306849

>>>Instead of saying a thousand words, it only whispers 3: "Buy TOL puts!"<G><<< Hmmmm. 7,522 of the Sept $25 TOL poots traded today. The open interest was 13,383 at the start of the day. Having said that, I must relate that I am short TOL (my naked, shorted Aug $25 calls expired ITM on Friday). My risk management practices in my current configuration required that I short the Sept $25s poots first thing Monday - got $1.40 for them. I bought them back today for $0.90 - not bad for less than 24 hours holding. So yes, my purchase today was a bearish indicator, but I made the open interest go down, which some would interpret as bullish. So judging from my own behavior, I never put much stock in option volume and open interest. Suffice it to say that I am in agreement, and that the path to enlightenment and nirvana is paved with TOL poots.

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