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Chasing Unusual Charts. Pfizer

This stock had an unusual trading pattern last Friday. It is now Monday morning and this weeks option trading will be shortened by one day because of thanksgiving on Thursday. Here is the stock chart I am referring to. $24.50 to $25.50 in one day and now chilling at $25.00. It now has to move one way up or down. How do you decide which way? That's the issue. To buy both the Calls and the Puts means that you are going to get burnt one way. Here are the pricings on both the Puts and the Calls two minutes into the opening trading. The open interest in both the Calls and Puts is next to nothing. One thing is for certain. Traders are soon going to wake up to this action. The spread between the "bid and ask" on both series is $.05. That's not an issue. Lets check in at 9:58 a.m. to see what is happening with both the Calls and the Puts. .............. So what to do? Wait. It's now 10:47 a.m. It's now 11:00 a.m.. If we are going to make a stab at playing the d...
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An Introduction

My name is Peter and about 45 years ago I did a short gig as a “Merrill Lynch” broker. Prior to that gig I worked for a well known Canadian brokerage firm that had a fancy office on the 55 th floor of a downtown Toronto building. They took the whole floor. In essence they were a "boiler room" operation (which I think they first started in the 1930's) which focused on mostly penny mining stocks. I did not fit in well. I was to busy watching and trading Exxon options and also watching the back office skim money off of any of my profitable trades I made for myself or any of my clients. Well they didn't skim it off at that Toronto office that I know of however they did at another office in another town I asked to be transferred to. Things were different back then. I now work in an unrelated profession and oddly enough still have the designation of being a broker. I still have a passion for option trading. I like Fridays for trading "one-day" options that will be expiring. Six of my favourite stocks to now trade options on are Caterpillar, Ford, Exxon, Deere, Tesla and Boeing. I watch other stocks in the five and ten dollar range that also have options on them. I missed the 2025 gold run. There are times when I will take a week off from watching the market, knowing that I will be not be handicapped when I return to the action. I don't play options if I am away on holidays. Trading in Australia in a tent in a traller park at 4:00 a.m. during a rain storm with a flickering power source and then waking up tired doesn't work for me. I need to be on more of a routine to play options. Donald Trump has in some ways helped to make option trading easier. He says things which don't make sense. Let me now share with you some of the things I see happening in the markets. I am hoping some readers might enjoy reading something a little bit different. Happy option trading.

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