Traders Playground

Buying Swing: buying BP 52.50 calls OVERSIZED at .54-.56 This is an aggressive bullish position in a stock that is sinking fast for a multiday bounce play. I see here a significant intraday positive clearing on BP that should start the bounce and the loss of premium on these calls gives a unique although high risk opportunity on BP here. Also on my formulas here I see multiday buy signals on the verge of clearing on GS here after a full day of build. Even though we bought the calls friday on GS when it was at 144s and now she has built to 150s this is not enough of a move due to premium loss as we approach expiration on may 170 calls. a move above 160s this week is necessary for these calls to regain potential, that would be a real short covering bounce, if its not seen but we do get to around 155 lets say tomorrow with not additional follow trough higher, then will have to lock in what should be some profits on fridays entries and loss on older calls entries and turn the full stake into a bearish short on calls. Today and tomorrow critical for GS. AAPL here has had another nice build after the news of pad 3g sales on its release on the 30th, if market witch has now erased all the losses from friday continues then AAPL should break highs once again. But for no BP should bounce guys on this formula