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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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Another Attempt To Explain Exxon Options.

There are times I feel safer playing Exxon options than I do playing options on other stocks. Why? Well today this happened and the options didn't move all that much.
What the heck was all that stuff? It was information that flows. It's humbling to read it. There are so many parts in motion which somehow mesh together to create Exxon's price at any one momeent. What I like about trading Exxon is that when it moves, it moves quickly. That plus when it does move the options on them move a chunk at a time. That can be a good thing. Here is Exxon's five day chart. It's had some recent really big moves.
I picked something difficult. Two series of options on Exxon that expire at 3:00 p.m. tomorow. Here is how they closed today, a Thursday. Let's be clear. This is not a situation I would like to be in.
Which way is the stock going to move on the opening? I note that there are four times more Calls outstanding than there are Puts. It's not uncommon to see things set up that way. One last thing. A chart showing how Exxon just finished out trading on the day. This time it's pretty boring.
Let's see what happens tomorrow. It opens flat. Here we are 36 minutes into the trading activity.
......
What a swing. Look at how cheap the Puts have suddenly become. Now the end of the story. First a chart showing how Exxon traded on the day.
The Calls hit a high of $1.68. Exxon options are known to move boldly.

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