11/21 Recap

Good morning, sorry I didn’t send this out yesterday, I just knew it was going to be a slow day just like today will be, so I wasn’t planning on being at my desk all day watching the market. I do of course still log everything for my database, I just did it this morning and here is yesterday’s table which you can is significantly shorter than usual. You have to understand in this space, the reason I can cut off at 12:30 my time most days and capture the bulk of the action is because the majority of it comes in the first 2-3 hours of the day. Anyone watching the tape will tell you that, these people executing the big blocks aren’t sitting at the office all day waiting to place a trade. They’ve usually come to a conclusion the day before or in the meeting that morning, place the trade early on and call it a day. Very rarely do I see something late in the day that is noteworthy and even then I catalog it and I will mention it the next day. So fear not you did not miss anything, what little options activity occurred yesterday is right here.

Also one of the names I highlighted in Monday’s recap, Agilent was up 9% yesterday, that risk reversal paid off very nicely

but it was the one that was in the table Monday that I didn’t highlight that stole the show yesterday, BURL, up 20% up 21%. Admittedly I thought BURL was junk, and didn’t want to mention it up but it did very well after the player put on that risk reversal 3000x expiring Friday. Those 145 calls are now $20 in the money, unbelievable trade.

I will send you today’s recap tomorrow morning.

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