One Day Puts On The Stock Eli Lilly At 2.31: p.m. On A Thursday Afternoon
The DJIA is up 850 points on the day. Eli Lilly has jumped $50.00 on the day. Happy days are here again. If the markets cool on the opening could the stock give up some of these gains? Could it give up 25% of what it gained today? Now it's five day and one day chart. $850.00 for a Put on a stock that has jumped up over $50.00 in one day. It's a Put that expires tomorrow. Is this a recipe for failure? At 242.00 p.m. the DJIA is up 899 points. Now the action at 2:47 p.m. Now this. In at 2:31 p.m. if you like and out at $850.00 and out 38 minutes later at $11.00. That's a gain of $250.00 and all you did was skim a small gain off a hot market. Maybe that could be your trade of the day to avoid all of aggrevations of what might happen next. It would be catching the tail end of a 950 point rally in one day. That in itself is not a bad strategy. Now a 3:30 p.m. update. Another small gain. Let's see what happens tomorrow.