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Scary Enough Now?

Posted on July 15, 2008

OK, earlier we had the SKF breaking 210 on the way clearly to infinity. As best I can tell at these levels, each nickel down in Citi now translates into $27 higher in SKF. That double digit volatility of a week ago was apparently the buy of a lifetime.That combo I mentioned yesterday, the July 180-190 strangle at stratospheric prices? It's a nice loser 1 day later if you sold it. Unreal.One day closer to expiration, you can now sell a 30 point wide strangle, the July 190-220, for 19ish. That has a range of 171 to 239 where you profit.At some point one of these will be an insanely blazing sale,...

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expiration , highs , vix , volatility