Tuesday, December 04, 2007

Qs on weak narrow range

Some odd behavior from the Qs today as they failed to make any inter pivots moves. The launch from S2 at the open was suspicious from the get go, so as the Qs powered on through S1, it sure looked like the PP was a high probability target. Not so. Instead we were treated to a very narrow range malaise for the remainder of the day, finally bouncing off and then closing at S1 in a bearish display of accelerating volume. Some significant decay in premium today on the OTM puts. I'll examine some possible low probability short puts for tomorrow's session and post the results. As always, reader input is welcome.

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