Seeking Alpha
  • Ocean Man
    Bought June $87.50 calls on CMI at $4.55.
    6/4/12
    Reply (13)
    • FortSumter: Were all 3 contracts yours? lol Are you playing an expected bump or happy to be assigned?
      6/4/12
    • Ocean Man: Either we're about to bounce or the VIX is about to shoot up. The current relationship makes no sense. I will profit from one, maybe both.
      6/4/12
    • FortSumter: Gotcha. So, you're playing a illogical discrepancy between the VIX and S&P charts? You figure one or another has to correct soon?
      6/4/12
    • Ocean Man: That's funny you ask, as I have been the entire daily volume in an option trade many times. And yes on your 2nd question. 1275/1278 had been
      6/4/12
    • Ocean Man: a serious support level. We can't just go down 10 points to 1268 with no rise in VXX. So I looked for what's most beaten down and what
      6/4/12
    • Ocean Man: bounced hardest from last year's lows. Banks and tech have too much Euro exposure, China has too much copper and iron ore inventories,
      6/4/12
    • Ocean Man: so I chose trucking, construction equipment, and coal. JPM has an industrial conference tomorrow, could get bumps on CMI and CAT. China
      6/4/12
    • Ocean Man: fast-tracked a bunch of infrastructure projects today, helps CAT. And WLT gets a buyout rumor every couple of months.
      6/4/12
    • Ocean Man: And I have 3,000 shares of XIV short left to cash in if we take another leg down first.
      6/4/12
    • FortSumter: There's a stat floating around that since WWII, every 2% reduction in GDP has led to recession. If the rule holds, we are headed back.
      6/4/12
    • FortSumter: If that's the case, housing and credit related stocks are headed south. The economic bump for Q1 was all due to consumer credit increases.
      6/4/12
    • FortSumter: Here in FL, house prices have bottomed out but not to the extent TOL and USG should have doubled. Right?
      6/4/12
    • FortSumter: I was just okay'd for options. My first play was a Jul 21 $13 for $.40 call on LGF. Earnings werent that bad, just delayed. Thoughts?
      6/4/12