Well, since I posted my discussion on OEX options I've gotten some interesting responses, most prescient from 'The Shadow' saying to buy puts on Google--which is down about $35 per share today. Nice call, brotha.
Sorry Sean. The strategy of buying Google isn't exactly working out, as an $18000 investment would be down almost two grand today, had someone bought it at the open on Monday. The OEX, while down 5 points today to 581, is still well above my 'panic' price of 560.
If I had some extra cash to spend, I'd be looking pretty hard at Genentech April 85 calls. They're down about $ .90 today. $3.90 per contract actually looks pretty juicy (that's the ask price as I write this). We'll see how this one turns out over the next few days--I wouldn't hold it until expiration, this is a total speculative move--but it's one I'd be willing to gamble on.
Mikey
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