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  • blust34442 blust34442 Dec 17, 2009 3:36 PM Flag

    Anyone remember what happend 47 months ago?

    It happened on January 2006 option expiration Friday.

    Most NASDAQ stocks seemed to be pinned in strike prices until 10:30AM Friday, then high beta stocks began to crumble. GOOG was traded between $478 and $482 from 9:30AM to 10:40AM, then plunged $85 in the next few hours. By 3 PM GOOG was $395 a share. I bought $460 puts at $250 a contract earlier that week. (They could be bought at as low as $70 a contract on Thursday.) At 4 PM close, GOOG closed at $410. Each contract was worth $5000. (Could be $6500 if I sold at 3 PM. But I did better than that because I sold at $440 and immediately bought massive amounts of $430, $420 and $410 puts.) I made $70,000 that day. It was the second best trading day of my life. Miracles do happen! After 47 option expiration Fridays since then, it could happen tomorrow!

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