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Snowflake Part Two : Thursday Overnight Position Going Into The Final Day Of An Options Life Are Not My Cup Of Tea Unless It Is Perhaps Tesla

The 172.50 series of options on this stock will expire tomorrrow. Today is a Thursday. The first printout shows a bit of a struggle on the opening in the first nine minutes of trading and a return to price it closed at in the previous session. (It did have a nice rally on the previous day then to only give it up). Could it rally again this morning? Now the second printout below the following paragraph shows the high volume of trading pouring into this series of Calls just after the opening. These high volumes of trading shown below happened in the five minutes and twenty one seconds of the trading session. Traders bought in on a slight dip looking for a reversal. Good for them. Are these traders hoping to be out at a profit in the next fifteen or thirty minutes? Yes. Get in and get out. Catch a profit as the stock is deciding which way it will go. It's early in the morning trading session and the volume of trading is always the highest in the first and in the last hour of trading....
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"Apple" at 3:15 p.m.

Last week we talked about "Apple" being a nice stock to trade options on and one of the reasons given was it's one dollar spreads on it's option. Most other stocks in that price range have options on them which have wider striking prices. A 120 Call, a 122.50 Call and a 125 Call for example. That's what you are most likely to see. That being said, the underlying price swings with these "other stocks" needs more of a noticeable and extended directional move to be able to play them successfully. Weekend articles mentioned "Apple" doing well in a rising interest rate environment because of it's abilities to make money on borrowed money forming low cost debt. I wouldn't read too much into that. Today with the D.J.I up 90 points going into the closing trading hour of the day look at how well the 13 series of Call options that expire this week are trading. Up slow and steady all afternoon.
Notice also one again how the volume of daily trading in this series exceeds the open interest. That's always the way it is. The focus always seems to be on interday trading. ^^^^^^^^^ A Next day update. Notice how the market was down and the volumes of trading was way down.
All things considered the stock rallied again on the opening and then off slightly and these premiums dropped accordingly. Let's now look at how the "Puts" now looked on todays action, this time the 134 Puts and not the 133 Puts. Money can be made both ways.
You can see the low of the day on these "Puts" was about 1:20 p.m. when Apple spiked a touch.

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