Pain Management

I was very patient, waiting until this week before putting on significant short exposure. I decided to pull the trigger even though I knew there was a good chance I would have to wait until after expiration for my bets to pay off. I thought that the opportunity was juicy enough that I would be willing to take some pain. Even though I was ready for it, going through the pain is no less painful. I am stopping the pain for today and calling it a day. Its going to be a long few days until expiration. Have a good night.

6 comments:

Anonymous said...

Oh my God. The CBOE equity Equity Put/Call Ratio was 0.32 today.

Is that not an actual record?

Anonymous said...

Yep. I can't find a lower value going all the way back through 2004.

Anonymous said...

This is what Spitzer paid $2,000 an hour for
http://dealbreaker.com/2010/04/this-is-what-eliot-spitzer-paid-2000-an-hour-for/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+dealbreaker+%28Dealbreaker%29&utm_content=Google+Reader

Anonymous said...

Very surprised to such a low CBOE reading. do you think because of inverse ETF's total amount bet on call Options is much less than other instruments (e.g. etfs and futures, which is why market is ignored. Just curious

Chaos! said...

Was the ISE number similarly extreme?

Tsachy Mishal said...

I don't know about Monday. I was thinking Monday would be weak but we might have seen that weakness today. I am staying net short because I think we are seeing an intermediate term top. I did a fair amount of covering and put selling today. I will be happy if we go higher because I will get a chance to reload. I will also be happy if we go lower because I'm net short.