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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: Alias Shrugged who wrote (37418)4/30/1999 6:26:00 AM
From: John Pitera  Read Replies (1) of 86076
 
Mike, I had may and july 65's. as dal was spiking down to 60 the implied vollies expand on them and I just wanted to rotate out of it.

there is TA support at 60 and the 200 dma is a 57 so DAL should not go plunging lower than that unless the mkt really starts to cave in and PVN and ctxs will sell off in that situation.

Pretty Much the same reason that when I had puts on G last month that I got At 63 I sold them 2 days after it had it's revenue concerns,
and had moved to the 50 level. The volatility premium comes out
as a stock stabilizes.

I am short UAl so I have some downside for the industry specific
concern of higher energy prices.

DAL has really taken a drubbing on little news this week.

so hopefully it will continue to go vertically down for you...
at which point you owe me a frosty bottle of the ThunderChicken
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