Back In The Saddle

Before
I delve into my morning analysis
of the options markets, I want to
thank all you readers who wrote me on Friday expressing your consternation over
the pending legal issues surrounding my column. The
amount of support I received from you was truly humbling.
Believe me… nothing makes a writer happier than knowing his audience is
out there and on his side. 

Further thanks go
to Larry Connors, the proprietor of this Website.
He called me immediately after I published on Friday, and offered his
personal assistance on the matter. It has been a pleasure to write for a man of
such accomplishment and professionalism. Together
he and I pledged to do everything we could in order to keep this column alive
and thriving.

My encounters
with the compliance folks commence this week, and so until then I “have to
watch my p’s and q’s” as they say. I
have decided to forge on and present daily material of some form to my readers
in the meantime…how could I not after reading your emails of support, outrage
and chagrin?  And many
thanks again, my friends…

Briefly, the
options market opened Monday morning wearing the same colors it has for recent
months…Call sellers lead the pack, and put sellers follow on their heels.
Volatility remains steady from Friday’s levels, as one would expect from the
markets relative quietude. Butterfly and condor strategies are still my
favorites, as we believe this volatility will have to come down in the coming
months.

Here are
today’s numbers…

Pre-open
order volume was light this morning. Overall, call sellers led buyers 2:1 while
put sellers led buyers 3:2. 



First
hour order volume remained light this morning. Overall, call sellers led buyers
3:2, while put sellers led buyers 2:1. 


Please
continue to write me
tonys@tradingmarkets.com

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