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Wednesdays Can Be Turn Around Days for One Week Options. Deere

Let's start with two charts. A five day chart and a one day chart as we approach noon today. .... ... Now a look at these two series of Puts which will be expiring this Friday. The 512.50 and the 510.00 Puts. These are thinly traded options with the built in worry of having a wide spread between the bid and ask. In some ways that doesn't matter, knowing that a ten dollar swing would not be out of the norm. More concerning however is the size of the spread on these next sightly "out-of-the-money" Puts. With spreads this far apart they would be difficult to buy into and sell out of. No one is giving away free money. Let's follow this story and see what ends up happening.
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Could These G.M. Puts Go up 50% This Week?

Fighting strong stocks is a tough game especially with the indexes seemingly so strong. The Nasdaq Composite ended the holiday week at 23,366 - up 5.8% over four days. The DJIA turned up last week after a four-week slide. Now this.
G.M. only reports it's production numbers on a quarterly basis and it's next report is not due out until 2026. I also know that about six weeks ago G.M. popped on an earnings report.
So why will this week's stock performance be anything different for G.M. than last week? I don't have an exact reason however I just want you to hone in on this series of Puts which expire in two weeks. The open interest in this series of Puts is next to nothing. That's a sign of strenght, not weakness.
Two weeks away is a long time in the option market. I feel that G.M. is overextended as it seems to sell off near the close everyday. Yet then again, what do I know? Attempting to pick the tops of these swings is most often a losing proposition. Monday and a suprise. An afternoon readout.
$1.20 to $1.40 playing options two weeks out is not a good enough trade. Remember however I said it was going to jump on the opening like it always has. Here is a one day chart showing a stronger opening and a dip late on in the trading session.
Had you got in around 10:00 a.m. you could have picked up the Puts in the $1.08 cent range. That would have created a proftable trade. To be continued. Weekends with the it's accompanying Monday morning resets are a good time to figure out Monday trades like this. G.M. closed the day a touch lower.
*** A Tuesday look. Here is that same series of options again. It's not a bad trade if you pick this time to get out.
Here is it's closing five day chart at the end of Tuesday.
Look at how the Puts closed on the day.
Note they never made it to the bid $1.61 ask $1.71 level we saw back at 10:43 a.m.. A final comment. If these were easy options to trade the entire world would be doing it. Obviously they are not but they do pay off in spades when a catch a directional move correctly.

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