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One Day Boeing Puts On A Friday

I realize that this type of a blog has a limited appeal. A blog about watching option positions move on a minute to minute basis. Now let's learn how it went for Boeing Puts today. It's 9:56 a.m. Now it's five day chart. This is where it will get interesting. Notice it has a rebound off a soft opening? Traders who used the 212.50 series of Calls on Boeing's soft opening were already well rewarded. Only 121 contracts traded during that period of time Here is what the indexes are doing. So that's it. You could wager $100.00 U.S. plus commisions for one Put contract (the 215 seriess of Puts that expire in the afternoon), or multiples thereof and walk away for an hour or two. It's a bet on your abilities to recognize chart formations. Now this. If you bought in and a small gain materializes in a matter of minutes do you take it? Sorry. It's now 10:46 a.m. There is no gain. That opportunity never presented itself. In fact these $1.00 Puts we were once excited...
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Sweet Spots In The Market And More Used Car Market Observations.

This blog is yet another blog about trying to day trade Carvana again. Why? Well Carvana as of the last couple of weeks is in a sweet spot and seems to be powering upwards. Last Friday as I reported in a previous blog it jumped $12.78 in one day. Players in the the "American used car industry space" are reporting their quartertly earning reports and they are all good. Consumers in the last few months where rushing to by cars before the tariffs kick in. Coincidentally,the party may soon be coming to an end. Once again I realize that only a very few readers have any interest in options on these types of stocks however it is a facinating section of option trading to be watching.
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Now lets jump ahead to 11:21 a.m..
Notice the volume of trading in this option series picking up? After three days of rising prices more traders are starting to respect this stock. He is it's five day chart. The path forward is now unclear.
Is this softening of pricing a concern? Would I say to buy Puts? Not really.This looks more like a slight pause. I wouldn't be thinking about Puts unless something really scary started to happen. Now this.
Now a 1:00 p.m. reading. Things have gone flat. Something new must be factored into this equation. The markets will be closed this Friday and they close early tomorrow at 12:30 p.m.. There might be some action in the morning however many traders will be off on vacations so the morning action, if any will be shortlived.
If we look at other companies in the same space their stories are pretty much the same. I just listened to a "Lathia Motors " earnings conference call and they are upbeat about their path going forward.
Here are how the 340 Calls are sitting. Most traders will not want to hold these options overnight tonight. If the markets open lower on the opening they would be in trouble.
Here is how Carvana closed the day on a Wednesday.
Now the action on Thursday morning. It's Carvana. The stock did not disappoint the Call option holders.
Here is how the markets are doing at 10:30 a.m.
Option players still holding these Calls are braver than I would be. Now here are the closing prices on the 340 Calls and it's day trading chart. Notice the sharp sell off in the morning and the sharp rebound!
The spirit of Cavana was still alive.I helped that the DJIA had a strong day.
What is there to learn from this blog? Well holding Call options overnight going into the last day of the trading action is not a smart thing to do. If that's all you learned from this blog that's enough. On a different note, I think all of the stocks in this sector are reaching a peak. Why? Well, here is what others are saying.

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