Correct on that statement. The market will begin leg 5 of 6 to the down side tuesday so get off the long side unless it is doing well. SPY july sept puts is one of the best ways to capitalize next to SKF and FAZ calls. The tech sector is going to pop now and it won't be pretty look at the july aug put spreads put on by institutions on AAPL RIMM HPQ DELL etc etc.
ZodiesPK
Sent via BlackBerry by AT&T
From: george barson
Date: Sun, 24 May 2009 14:37:23 -0700 (PDT)
To: <OptionClub@yahoogro
Subject: Re: [TheOptionClub.
Here is a link to some information on BH and selling puts. It would appear that they expect the market will drop and adjusted their sold put prices down.
George
--- On Sun, 5/24/09, Sandra McMakin <s.mcmakin@comcast.
> From: Sandra McMakin <s.mcmakin@comcast.
> Subject: [TheOptionClub.
> To: OptionClub@yahoogro
> Date: Sunday, May 24, 2009, 11:39 AM
> Hi,
>
> I'm new to this board. I have studied and used TA
> extensively for the past 10 years. I know very little about
> options.
>
> The following post is on another site (May 18):
>
> Warren Buffett confirms to CNBC's Becky Quick that
> Berkshire Hathaway has made changes to some of its
> controversial bets on the long-term health of stocks.
> Buffett told Becky last night by telephone that roughly $2
> billion of put options on the benchmark S&P 500 stock
> index have been altered. Changes have also been made to a
> derivative on a foreign stock index, but he's not saying
> which one. The new contracts have a lower strike price but
> cover a shorter time period.
>
> What does this mean? Is he expecting another quick market
> drop in the near future?
>
> If he is selling puts now - is he expecting the market to
> drop? I realize that he is completely invested now. It's
> been well publicized that he has very little cash left and
> has been on a buying spree for most of Q1 so it makes sense
> he is in puts.
>
> By the way, would he be selling puts or buying them? (Yes,
> I know nothing but need to figure this out - thanks!)
>
> sm
>
>
>
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