Just a quick note. Despite CERN trading up this morning around $81.20 after decent earnings last night, at least a few traders are challenging the valuation at 28x earnings. I see two large blocks of 4388 and 1000 of March $80 puts bought on the offer at $3.00 and $3.30 at 10:10am and 11:02am, respectively. This is against the open interest of 829.
They might be hedging, but something to keep an eye on.
About Me
- Fahad Khalid
- Chicago, IL, United States
- I have Masters in Business (Accounting and Finance 2003) from Michigan State University. I have been trading the market since 1998. Prior to picking up trading as a full-time career in 2008, I was a management consultant at Alvarez & Marsal and Conway MacKenzie for four years. I provided turnaround, crisis management and restructuring services to financially distressed firms. Prior to working in turnaround, I worked in Audit & Assurance at Deloitte & Touche for two years. Trading in the market has always remained my side business ever since I started college. 90% of the time, I trade through options. I love volatility skews and positive Theta plays. While I make a lot of directional bets, in general my favorites are to take advantage of high implied volatilities through calendar or butterfly spreads and vertical credit spreads. I never buy straight calls or puts and I do a lot of exotic multi-leg option trades.
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