As of Monday Aug 17, 2009 4:15PM ET, these levels are:
AAPL – $155
RIMM – $75
GS – $155
QQQQ – $38 (massive massive OI in puts at $38 level)
IWM – $53 –> difficult to see this happening
SPY – $98
GOOG – $440
Added more at $1.90 for average price of $2.00
TNA should move down by 15 to 20% to $30-$32 region.
IWM makes big moves down when energy sector moves down. Dollar has corrected, but oil hasn’t. Look for IWM to make a big move down the day oil corrects.
I expect a minimum 5 to 7% retrace in IWM. This should bring TNA down by 15 to 20% depending upon how fast the move happens, bringing TNA down by $6 or so to $32-$33. I will bail out if IWM breaches Friday highs.
Day trade – tight stop
EDIT: Mistakenly I had written $49 calls in the title of the post when it should have been $48 calls. You can go and check that the highest that the $49 calls have traded today is $0.67 as of 8:00AM PT.
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BOT them for $1.05/contract – 20% loss
Glad to have closed them. They were down to $0.76 by EOD Friday.
