Covered most

Measured move of H&S on the hourly is done. May crash but I'll look for higher prices to reshort. I added this morning but VIX premium must have been baked in as not much gain by eod.

I hope you made a bundle... Nice trade.

I hope you made a bundle... Nice trade.

Thanks, made back some of my loss from last week.

I think they waited for cash to open so they could leverage with $300
per contract margin maintenance. They probably covered most on close.

I have a trade idea that is high risk, maybe I can get some input on it. I'm contemplating shorting PCLN ahead of earnings, supposedly 8/04. My reasons: 1) TZOO cratered by 40% on their earnings already. 2)The last time we had the flash crash PCLN dropped 35%. 3) $XAL is 30% off it's highs and diverged the flash crash by months like now. If I buy the Aug 450 Put @$5 I might end up with 10-20k or lose the whole $500.

I hope you made a bundle... Nice trade.

Thanks, made back some of my loss from last week.

I think they waited for cash to open so they could leverage with $300
per contract margin maintenance. They probably covered most on close.

IMO, the selling just started yesterday. There may be a bounce (I don't know!) but we will see lower prices.

http://www.zerohedge...-sale-hits-tape

I don't suggest reading ZH during trading hours as it skews your emotions towards being bearish, rather than neutral.

I have a trade idea that is high risk, maybe I can get some input on it.

I'm contemplating shorting PCLN ahead of earnings, supposedly 8/04.
My reasons:
1) TZOO cratered by 40% on their earnings already.
2)The last time we had the flash crash PCLN dropped 35%.
3) $XAL is 30% off it's highs and diverged the flash crash by
months like now.

If I buy the Aug 450 Put @$5 I might end up with 10-20k or lose the whole $500.

To clarify, the $XAL divergence in place now is the way it was preceeding the 08 top.
There was about a week of divergence with the flash crash.
PCLN derives over 90% of it's profit from hotel bookings, airlines only fractionally.
However, they are all tied together and even though Priceline had a good first quarter,
the stock price was 100 points lower over the next month.

CLK, I too covered (FAS short) at the close, and AH I am laughing at myself for being a whimp. Nevertheless, the name of the game is money in the bank. The celebratory 'tini still tastes pretty good.

Nicely done...keep your discipline. Fib

CLK, I too covered (FAS short) at the close, and AH I am laughing at myself for being a whimp.
Nevertheless, the name of the game is money in the bank. The celebratory 'tini still tastes pretty good.

Selecto, congrats on the profit. I think you will get another chance to reshort tomorrow.

I have a trade idea that is high risk, maybe I can get some input on it.

I'm contemplating shorting PCLN ahead of earnings, supposedly 8/04.
My reasons:
1) TZOO cratered by 40% on their earnings already.
2)The last time we had the flash crash PCLN dropped 35%.
3) $XAL is 30% off it's highs and diverged the flash crash by
months like now.

If I buy the Aug 450 Put @$5 I might end up with 10-20k or lose the whole $500.

To clarify, the $XAL divergence in place now is the way it was preceeding the 08 top.
There was about a week of divergence with the flash crash.
PCLN derives over 90% of it's profit from hotel bookings, airlines only fractionally.
However, they are all tied together and even though Priceline had a good first quarter,
the stock price was 100 points lower over the next month.

CLK, I looked at PCLN options chart. I followed all giant stocks' earnings. The MMs opened Aug weekly options only between 480$ and 575$ strikes. I have observed that for NFLX, AAPL, AMZN as well, MMs are opening limited strike prices for weekly options. I reckon when the MMs are confident that stock will be contained between these strike prices, they don't open options with strikes below or above. That is my feel on PCLN earnings. One may open sell positions on weekly 480$ puts and 575$ calls. I am not doing that, as I don't want to jump down the bridge, but that's my take . If anyone has a solid technical analysis on the stock, they could combine that with my view and estimate the move.