My trading of SPLK and GPRO call options on Aug 29, 2014 OE day# Stock
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Several years ago, I traded a lot of GOOG options on OE days based on Option
Pain theory. The result was not good since the MM have too many degrees of
freedom on OE days.
The post by ID NFLX was truly good and I decided to try OE play again on
August 29, 2014.
Being in California is a bad drawback since you have to get up around 5:30
AM to figure out the situation.
Last night, I studied several candidates.
1. GPRO: it jumped from 45 to 49.5 on Thursday, Aug 28, 2014. It is clear
the MM wants to move it up. GPRO was a hot discussion topic on MITBBS.
2. SPLK: it reported a very good earnings after market close on Thursday,
Aug 28, 2014. On Friday morning, it was on the headlines of market watch.com
. I checked past 6 month history of SPLK, and it looks like SPLK's moving
range could be big in one day.
3. TWTR: it was reported that TWTR was moving up. When checked this morning,
I found TWTR moves about $1.5 on previous 3 days, so the range is small
compared to SPLK.
4. TSLA: on Firday morning, TSLA had big good news. But studying the past
history shows that TSLA turned to jump at the market open and remain
basically flat in the trading day.
I also looked at BIG LOTS, which had ER on Friday morning. But its ER was
not too good.
On Friday morning, the consumer spending news was not good, so I felt that
market may not jump up much.
I wanted to trade 3 stocks, due to limited attentions that I can pay.
Finally, before the market open, I made the choice of narrowing it down to 2
stocks.
The first choice is SPLK, and the second is GPRO.
Since this is an initial try play, I want to play small, and have $300
budget on each stock (later I violated this rule too much).
Before the market open, I input all the option tickers into my broker
account, and ready to go 10 minutes before 6:30AM PST.
Pain theory. The result was not good since the MM have too many degrees of
freedom on OE days.
The post by ID NFLX was truly good and I decided to try OE play again on
August 29, 2014.
Being in California is a bad drawback since you have to get up around 5:30
AM to figure out the situation.
Last night, I studied several candidates.
1. GPRO: it jumped from 45 to 49.5 on Thursday, Aug 28, 2014. It is clear
the MM wants to move it up. GPRO was a hot discussion topic on MITBBS.
2. SPLK: it reported a very good earnings after market close on Thursday,
Aug 28, 2014. On Friday morning, it was on the headlines of market watch.com
. I checked past 6 month history of SPLK, and it looks like SPLK's moving
range could be big in one day.
3. TWTR: it was reported that TWTR was moving up. When checked this morning,
I found TWTR moves about $1.5 on previous 3 days, so the range is small
compared to SPLK.
4. TSLA: on Firday morning, TSLA had big good news. But studying the past
history shows that TSLA turned to jump at the market open and remain
basically flat in the trading day.
I also looked at BIG LOTS, which had ER on Friday morning. But its ER was
not too good.
On Friday morning, the consumer spending news was not good, so I felt that
market may not jump up much.
I wanted to trade 3 stocks, due to limited attentions that I can pay.
Finally, before the market open, I made the choice of narrowing it down to 2
stocks.
The first choice is SPLK, and the second is GPRO.
Since this is an initial try play, I want to play small, and have $300
budget on each stock (later I violated this rule too much).
Before the market open, I input all the option tickers into my broker
account, and ready to go 10 minutes before 6:30AM PST.
