By the way, another curious observation I made today was that someone either bought or sold 1,104 EPD January $50 Calls between 0.55 to 0.65 today. If they bought them, they are probably betting that EPD will rebound and go to at least $51 by January Options Expiration date. If they sold them, they possibly sold them for a loss.
Don't forget Feb Options are coming on-line today. Jan OPEX is early so I see some danger there with Jan Calls. FC is almost a certainty and danger there. I would wait until direction and economy is clearer. I was looking myself at EPD for the Long Feb50Call offset with the Short Jan49Put for .15 debit. If things were stable that would be my bet....but things are not stable...;-(
Good luck in whatever you decide. Hey, whatever happened to your Jan EPD Calls? Didn't you have about 2000 of those??
I looked back and saw your exit. Good thing you got out when you did, as those Mar48's are selling @ 2.20( a .55 hit to your original 2.75 cost) currently. I think we see 47.00 or less as we go over the cliff. Lots of good prices soon served...;-)
No, Doc. I don't own 2,000 Epd January Calls. I'm still wondering why EPD closed up at $50.08 today, I was afraid that it would go down to $47. I don't know, Doc, the market is out of control and unpredictable during this Fiscal Cliff thing.