Couldn't be more wrong. US futures down 5%. Will be very ugly. GOOG could drop $30-$40 in a heartbeat. What happens next is unclear. Does the market continue lower, and if so how much?
I'm guessing today's gains will all go away in a heartbeat. The remain vote may pick up, but they're far behind so will be tough to catch up.
Uncle--You saying the market is expecting Brexit? Early results suggest Brexit forces may win.
Looks like the market is already counting on no Brexit. It the market is right, we may see a little more upside tomorrow. But if the market is wrong, we will see a big selloff in AAL and the rest of the market.
Hopefully we are near a point where bad news no longer has any impact. Enough is enough. Time to move higher may be near.
I doubt AAL will be up more than .30-.40 if the vote is to stay in EU. Looks like it will take quite a while to heal the stock's price. It would totally shock me if AAL moved up as much as $1.00 tomorrow, although I would love to see it start moving higher.
If yes, better own some short positions IMO. I own some SIX puts and am looking for other stocks that don't appear to have a big upside but could be hit significantly if the vote is yes. I'm open to any suggestions from the board.
We should see a lot of short covering as people unwind hedges. Not a bad time to look at buying calls as a purely speculative play IMO.
If the vote is NO on leaving the EU, markets will likely rally. There are many hedging with short positions, and these will be covered quickly if the is no Brexit, very possibly producing a massive market rally. In the meantime, continued upward pressure on FEYE stock seems likely. For .20 you can buy the Jun 24 $18 calls. For those who don't play options, this means for $200 you can buy 10 calls, and if FEYE should jump to $20, those calls would be worth at least $2.00, or 10x your initial cost. For those who can't afford to buy more shares or who don't want to get in after today's move, this is a totally speculative but inexpensive way to play the possibility of the stock going higher. Of course, if the stock doesn't cross $18 your options will expire worthless if held to expiration. I'm long the stock but bought a few just in case.
After the price of BABA plunged on Wednesday, you could have bought the May 26 $77.50 calls for about .20, then sold two days later for around $3.00.
It looked like someone wrote a rough draft of the article at some previous time and then forgot to fill in the current numbers before putting it up on the net. I bought some shares at around $34 for a bounce, and plan to start another round of selling covered calls. Has been a good money maker so far. Maybe someday I'll make enough with this strategy to offset my shares bought in mid $40s.
Congratulations on a great trade. Avoid all or nothing thinking. We should get a strong open in the morning, with a good chance you can get $3 for your calls. You have $800 invested, sell 10 calls early for at least $2,000, probably more and let the rest ride. I would try to sell by end of the day, as there is always a risk of a pullback after a sharp move higher, and holding into Friday with options expiring that same day is risky. The after-hours news about lenders relaxing their terms should move the stock higher. I suggest you stay glued to the screen in the morning and don't sell until you see a hint of momo slowing, then be quick in taking at least some of your profit. Good luck.
but could easily hit $40 this week. The combination of shorts who got greedy and stayed too long now having to cover, and momo buying could send VRX into the $50's next week. Not saying it will, but is definitely possible.