I'm with you, dude!
My horizon is weekly and monthly -- I try to make my last trade before any option expiration a call that expires worthless. The closer that is to the closing price of the stock, the better. In the meantime, we have all seen that there's usually a 10% round trip one way or another and a couple round trips of a couple of points, and I try to play them as well. None of that day-trading crap for me. I use the time-of-day stuff for entry and exit of option positions, although you would have made some nice money made this week by buying at 10:30, no matter what your time-frame is.
Yep, after the tout-fests, look out below. Even though there is a tout-fest the week of option expiration, I'm expecting that it will be a big dump week. Call buyers have done too well for too many months in a row, and this month is the first one in a while that we have not had a straight-up, month-long run. My conclusion is that there won't be as many profitable calls being sold back to the market-makers to be exercised. |
