Hi Trades, Hal,
I was side tracked much of the day but most of what I saw looked like a "day with no conviction" !!
Markets waiting for another revision to the employment numbers or "some other shoe to drop" !!
You may be "right on" with the 12000, 1300 observation. Everyone sitting on the fence waiting for someone else to stick their neck out !!!
While at it, on the "Max Damage" discussion on the SIH11 options.
For all practical purposes the Feb. options did expire in the Max. damage range of 27.50 to 28. (BUTTT not quite)
But there is more to the story and I have to carefully write it out.
Just how these things "settle" at expiration can get messy.
AND, if you have a slightly ITM option you are at risk of getting seriously burned before it is over.
That stuff about "having the RIGHT, NOT OBLIGATION" only holds water until you get assigned.
If the market starts moving against you it looks like there is opportunity to get into "deep pucky" quickly. I have a lot more work to do in this issue.