KLAC tom is doing white lightning.
YHOO tom is doing white lightning.
option expiry today. these white lightnings opened up with volume. came down with lighter volume. tom is gunning for them to get back to those highs of the open and it may take two pushes to get there. 1PM EST market will get dull and any premium will move out of the options so be careful later in the day.
BCSI up on very light volume.
Bud:
INTC is now retesting the april lows.
[seems there should be very little premium in the options in the morning (when going long) because it will leak out during the day.
maybe selling the slightly in-the-money calls that have too much premium in the morning would allow capturing of the premium that leaks out during the day. then buy them back before the close. this would mean the other side of the calendar spread would need to be set up earlier and probably for a much longer time frame so that one day would cause little leakage.
look at yahoo today and going long 37.5 out of the money would cost .05. bid 0 ask .05 all day. then sell the 35 (.65 to .35 range for day). now bid .40 ask .45. selling for .65 and buying back at .40 = .25 minus .05 from the long side = .20. .20 * 100 * 20 = $400]
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