Wednesday, June 27, 2007

 

Buy - 1 CTX Dec 55 Put @ 14.30

I think this entry was a little premature. 41 did look like resistance to me, but was taken out during the afternoon rally. The expiration is in Dec, so I might be holding this one for a while.
The funny thing I noticed was that the bid for the 55 strike put options is the same for all the months till Jan '08, the asks are nearly the same as well. I wonder why anyone would actually purchase the Aug Put options when they can buy the Jan ones for the same price.

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