Over a million put contracts for QQQQ july strikes between 36 and 39 and only 465K calls. That's a pc ratio over 2. Where are the bears going to find any more ammo, other than naked put sellers covering their positions? Will this be a repeat of the May opex disaster, where hedge funds had to cover en masse those usually easy money puts sold? I hope not. In any case, there is no call resistance until 39 and tons of puts below and above at 38.
This entry was posted
on Monday, July 10, 2006 at 3:33 PM.
