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Joe Springer
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It is very hard or impossible to time the broad market consistently — there are no famous investors that got rich by consistently knowing what the broad market would do next. This only makes sense, as there are just too many variables in the broad market. But there are many famous investors who... More
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  • Strange Things Afoot In SandRidge Options 1 comment
    Feb 20, 2013 2:01 AM | about stocks: SD

    Maybe just a profit-taker after a quick run-up from $5.60, but on a nicely up day with SandRidge (NYSE:SD) closing at $6.01 both the nearest dated $6 and $7 strikes saw significant volume exiting, and the $6 strike went from out of the money to in the money - usually the most profitable day a call option can have:

    (click to enlarge)

    (click to enlarge)

    Maybe a chance to buy the calls, maybe somebody knows something, but those calls should have made nice gains for holders today, hmm..

    Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in SD over the next 72 hours.

    Stocks: SD
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  • Valueplay98
    , contributor
    Comments (582) | Send Message
     
    Less than 10% of the open interest traded (not that much in the grand scheme of things) ... could have been a covered call seller ?

     

    I guess we'll know more when looking at open interest tomorrow.
    20 Feb 2013, 03:42 AM Reply Like
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