Options update for Tues Nov 11...(I know) it's only rock and roll...
But I like it, like it, yes I do! Sorry. Sometimes I get carried away. If any of you are Rolling Stones fans and get a chance to see them in a small venue, DO IT! Just got back from Vegas after seeing them in a 14000 seat venue. Best concert and best time ever. Even came back with more money than I left with, and a spiffy leather Stones letter jacket.
But anyway, back to the market. I think it looks sick. Anybody who can shrug off the oldest brokerage in Japan going belly up to the tune of 23 billion is whistling past the graveyard. This is the tip of the iceberg. I think they will start to tumble like a house of cards. You know what they say about cockroaches...you see one, you've got a million.
Option volatility continues to roof; ABX now about 44,40 with no sellers in sight. BCE dipped slightly due to about 10,000 Nov 42s being rolled, but I expect it to regain 28.5 soon.
My contribution to Ballard is now about $8000, which doesn't much please me. To my knowledge, clients have not bought a single contract, only sold. Hmmm...implied volatility? How to tell? Jan, the 70s will be listed tomorrow; at this rate, 65s by Friday.
Well, that's it for now.
Happy trading.
Porter |
