2PM update: enough with this game. Spread closes in to $2.81 and I am out all 1,500 shares. Beer money collected. I sold also the 400 shares I bot at 24.80s this morning. Cracker money in.
Note on the covered call portion: Now is $27.19, twenty cents above where I sold the $1.50 call four days ago, but the call option is trading $1.05-1.20. The decay is pretty good clip. One more dip to yesterday's level and we're done. I suspect everyone would want to be lightly loaded ahead of FNM 5/6 earnings day cuz anything can happen. And if the surprise is "negative", buying at $30s isn't pretty. :D
Hmm, reason tells me QQQQ went up to far and too fast for the smallish bit of news we've got in the past 2 days relevant to it. But why am I not moved after looking at AAPL's action? Too strong to fight.
SRS - on the other hand ....
5pm addon: hmm, the spread is still $3, a bit wider than 2pm, and the closing prints seem to suggest it may attempt $4 if FNM really wants to front-run earnings. Does that mean I should go long FNM and short FRE? I don't even trust my senses anymore. I'll stay out of these two UNTIL after FNM. I will only bet conditional on FRE earnings conditional on FNM (and a couple other things).