July 33Calls for .63 last. Lot of contracts are betting for an up day Monday. Just have to shave a few cents for good money on a one day trade. Can't imagine taking the other side as they will get trapped with the div payment, unless they are right in PPS decrease.
Monday should be interesting SPO coming Wed or Th , as I've been saying. Anyone want to take my bet?
I just put in an order to buy 20 of the Jan 14 2014 $32 calls at .45. If I get them great, if I don't I'll wait. Also just put in an order to buy 80 of the Jan 14 2014 $35 at .05. We will see what happens.
It's hard to interpret that Friday volume number though, as the total volume for the last eight trading days on the Jul 33 calls is over 10,000 contracts but OI stands at only 3,144, indicating a lot of short-term trading in that contract.
Also, looking at OI, there are more 32 and 33 puts outstanding than calls for those strikes.
Not making any predictions here, just indicating that those tea leaves are a bit hard to read.
BTW I got out of all my short-term option positions before the Greek election, only holding a few AGNC short puts now. Planning to start from scratch once I get a sense of where the wind blows.
You're probably right,how far do you think it will drop?Last quarter according to historical prices that I could find,the lowest it dropped was $2.I"m just learning options and thinking about buying calls.If it drops say to 31 something I may buy Sept calls with a 32 strike.Good idea?
I like ITM(in the money) Call options myself, but even ATM(at the money) strikes as you want to trade, are pretty close in price for all the contract months. Here are the ITM 30's:
See how they are the same price even out to 2014. You will miss the EX date possibly , with the Sept, so you should at least buy Dec. That way your Calls will be able to run all the way to the end of Sept, in case the EX is way out there. Make sense?
On your other question, I think you are exactly right with 2.00. So what the close is tonight, subtract two dollars, and that is your SPO price of admission.
A few hundred of those are mine and the majority of them will be exercised. They were my hedge against my short jun. If someone has these hedged with still other calls, they will be receiving short shares today going into ex div and lose value on their cover tomorrow.