RE:RE:Reason for Yesterday declineThanks for your information Reels65. What do you expect will happen next week/in weeks to come as it relates to your theory of options?
Thanks
G
Rebels65 wrote: Krisruna I partially agree. The negative posts were designed to manipulate the price in accordance to the option positions. Look at the options that expired yesterday on the NYSE..Large call options between $22 U.S and $25 U.S...Lots of put options between $22.50 and $24 U.S
Now compare the last 5 trading days to the week of options. PRIOR TO YESTERDAY the previous 4 trading days closed above $24 U.S with 3 out of for having highs above the magic $25. U.S
THEN ON FRIDAY open at $24.76 U.S ( .20 above previous close ) then climbs to a high of $24.96 , on high volume ,just shy of the $25 but close enough to make money on the options.. THEN MAGICALLY THE SP DROPS 7,78% and hits a low of $22.55 just .05 cents above the magic number for puts of $22.50
NOW one must remember the whole rally in Canopy was on NO NEWS and peaked around the $25 option that expired yesterday.. NOW YESTERDAY, AGAIN, other than a conveniently time analyst oppion there was no news, certainly nothing to warrant an almost 8% SP drop,,,,
OH AND DID I MENTION THAT YESTERDAYS MANIPULATION WAS DONE ON EXTREMELY LOW VOLUME. It's pretty clear that once the price was high enough for the call options to settle the buying just evaporated other than day traders tring to time a trade. With zero buying on the table the price was walked down by the High Frequency Trading platforms with mostly 100 share lots to cover the put calls.