Friday 15th of October

Wow, Google hits it out the park and the options I bot for 2.09 was sold for 26.6. More than 12 times the risk, just pure luck I have to say.
Options expirations today and we had fair amount of volume getting done trading 2.644m contracts in the S&P Emini futures(ES) today.
In (ES) the 1162.50 low from yesterday held in the opening hour and once traders realized that level would not break (after testing 1163) it shoot higher to test 1180 towards the close, making a high at 1179.
I continue to note that key resistance to the upside are 1198 and 1207 and key support are 1151 and 1127.
I lost 12.25 points in the futures as I was trading short term against both puts and calls around the 1170 and 1165 levels that I traded on intraday basis.
I made up more than for the loss in the value decline and expirations of the short options and the portfolio rose 1.63% on the day.
Would also like to remind that we had more POMO today and more on Monday as well, which have been supportive for stocks.
See NY Fed POMO schedule here:
http://www.newyorkfed.org/markets/tot_operation_schedule.html

Good basic information on how POMO works:
http://www.datadiary.com.au/2010/09/29/how-the-pomo-works-treasuries-and-the-fat-kid-who-wont-play-fair/

Here is today's Mr Topstep as well:
http://mrtopstep.com/2010/10/15/googles-gangbuster-earnings-and-options-expiration-wrestling-the-sp/

Have a nice weekend, hoping to see a fairly flat open on Monday morning and more theta (time value) flushing out the window, take care.