QQQQ Puts

Monday, May 15, 2006 | 11:08 AM

I am unloading the May QQQQ puts (expiry Friday) at $2.85; I am still long the June 125s and September 120 SPY puts. I am also buying some QQQQs for a trade.

The Markets is a bit oversold, these are up nicely, and I don't wish to be a pig.

Given that the VIX calls are trading at a discount to how much they are in the money, I am compelled to hold onto them. You may wish to take the VIX options off the table, but I like having the hedge against any further dislocation.

As always, your mileage may vary.

Monday, May 15, 2006 | 11:08 AM | Permalink | Comments (29) | TrackBack (0)
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Got the makings of an explosive push up here a few days this week. Let's see if the bulls can do it.

Posted by: B | May 15, 2006 11:23:17 AM

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