The Snap Back

The market snapped back hard today.  Rather than get into some analysis of what that could mean, or why it happened.  Instead, I am going to discuss what conditions still exist and what option traders

Option Pit Logo and Info Site Unveiled!

Why would I pick a day like today to unveil our Logo and launch the information website for Option Pit?

Because the principles on which Option Pit was founded:

Trade Structure, Risk Man

One More Time, All Together now UNIT$

The main driver behind this news is obviously the bailout of Greece. The Germans are mad they are bailing out the Greeks, and the Greeks are mad they are being bailed out.

Check Me Out at SFO

I wrote today's daily SFO, check it out here: SFO Magazine

I have all these Units, Now what?

Traders that bought units are currently sitting on little gold mines.

Alpha Exposure

Let's briefly discuss how much implied volatility was up then discuss what savvy traders were doing over the last few weeks and what they might be doing now.

Yesterday the SPX May 1175 Calls had an

9 Thoughts for this week, including: "Is the RUT still bad to sell?"

It has been a crazy couple of weeks, the market has dropped 2 standard deviations twice and recovered (mostly) twice. Over the last week the market is only down about 10 points!!!!

Check Me Out at OptionsZone

I wrote a piece over the weekend on GRMN earnings, check it out here: OptionsZone

MY poor GS

I guess we can conclude that I was a loser on my GS calls today. Hopefully traders followed my other idea of buying an off-center strangle instead of just calls.

What Do You Think?

On April 21st the SPX closed at 1205.94.

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