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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Big Dog who wrote (93357)	11/9/2007 4:38:38 PM
From: ChanceIs	Read Replies (1) of 206181

>>>what is the official time that OIH options open for trading?<<< Hello Mike, I think that options market makers are a little more like humans than the rest of today's computer driven trading. I think that trading opens when the market makers are ready. For major overnight news - Wachovia blowing a gigabuck for example - the MMs will wait and see what happens before things get going. Remember that options are heavily weighted upon volatility of the underlying, and nobody knows what that is until the underlying starts trading. An alternative for not trading is just for the MMs to pull back - create huge spreads. I got nailed last month at expiry on DSL. Things got so volatile on expiry that I would have had to pay about $1.50 to roll out from Oct to Nov with the underlying about $10 ITM. I say I got nailed because I had huge profits I wanted to roll into '08 before ringing the cash register. Now Uncle Sugar gets a big check from me. Ah well. I can take solace in supporting the government because the investment bank bonuses from Wall Street sure won't be doing their fair share this year.

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