Any takers on LUFK? Could this be a 23 pt sym trian? One neg is industry trend.

Brian K

Brian, not sure I like the 7-8 month time frame on LUFK. Looks like a smaller one over the past 3 months that shows a 12 point opportunity that might be better with options if it manages to breakout.

Jon

If you want a huge move, check out CTRP's flag break today.

Bret,
What option do you like on this. i was thinking the Jan 55's because the spread on the 60's is HUGE.

Brian K

Yes, I know. Silly me for taking it! LOL!

Can someone please beat that Vanilla Ice song out of my head for me??? ICE has me losing my mind.

Brett,

Nice call on CTRP, I took jan 60's(I only saw a .15 spread,seems good to me).

Sarah

I'm really having a hard time finding the "falling wedge" on CME. Can anyone enlighten me here?

Brett ~ I'm curious about CTRP, but the volume is really not there?

Hey Allen,
What rules do you use for your long options? I see the delta's on LUFK for March 65 and 70's to be marginal and the pricing to be a full point over the T-Val's.

Brian K

Brian,

I hope you haven't checked my deltas!!! Or lack thereof!!!

Hi Toni,

I disagree. It was the highest volume in 2 weeks and pretty strong, in my opinion.

Jeff,
Ok, point taken. Do use any Greeks or over/under info. If so which one do you like to check?

Brett~You're right about the 2 wk volume. Being a newbie, I thought "strong volume" should always be higher then average volume.

Toni,

I actually have the Mar $60's. If you see the huge symmetrical triangle since July, that has roughly the same target as this flag break, so I want to give it enough time to complete itself.

Jeff, with only crude inventories tomorrow, do you expect a continuation of this updraft?

Oops, I meant Sarah.

Here's a couple more to look at.

DDS bull flag (flag is a bit extended)

SNDA (bull flag breakout)

MikeH

Toni- If you want to see that falling wedge that confirmed today on CME, send me an e-mail and I will forward it to you.

Brian- I do not use any greeks to evaluate options...especially not the t-val or over-under. (that might have sparked an idea for a post!)

If you have followed this blog for awhile I am an OTM options trader for the most part.

Brett- If I had to guess the market direction...inventories wind up lower than expected, oil prices rise, market opens slightly down? At least that's what the magic 8-ball says.

I hope I kept the receipt just in case.

looks like a bull flag with resistance at 93 - beware of negative article this AM on reliability of iPod

Also, beware of running DEERE today. DE looks ready to bust this flag.

Anyone else in AMAG? What a move.

Allen,

Thanks for the suggestion. In the archives I have written several posts about OTM options and risk reward. If you have trouble finding them, e-mail me.

Thanks!!!

Jeff