Recess and I had this chat Friday:
2:19 PM me: 57 to 30
so much money to be made
Alan: yeah, that's right. I heard it was like almost half
any particular reason?
me: someone bought 55k $30 puts yesterday
2:20 PM They announced they had short term liquidity issues and JPM and Fed shored them up
2:21 PM Alan: jeez
man, that woulda been huge
2:23 PM me: bear stearns will undoubtably swing again next week
Being on West Coast and having time to analyze at lunch was costly. Markets were already closed. But might have been able to get puts in after hours trading.
If you go to http://www.movoto.com/ and plug in San Jose, CA you will see there are 4400 houses on the market and the green balloons signify on the market for 1 week or less.
Got to believe there is more money to be made in puts than poker the next few months. But I will play the MATH tonight and attempt to make a little.
PLO Saturday saw me take 4th in $2.5k Guarantee, 4th in Saturday's with DrPauly and 67th in the $20k.
$20k I was taken out when QT22 ( 3 diamonds) called my shove pre and rivered a 2s over 6s boat. I was playing 4 card bingo myself with 5789 ds against 2 AA but had flopped a straight.
I did rudely bust the host Saturday, I limped KT88 ds and called Pauly's pot bet pre. Heads up the QJ small flop gave me OESD, gut straight flush draw and 3rd flush draw. I had put Pauly on Aces so I know I only have 6 straight outs and should discount flush draw outs. As big stack I occaisonally show a wafflesque regard for keeping chips early so made a bad gamble and caught turn A which sealed Pauly's fate along with river brick.
Sunday I played a disgusting 6 SuperTurbos to the FullTilt Million Guarantee opting for the $118 + $5 2 seat version. Lost 1st 3, won next 3 and took the $T rather than playing.
867 $T net does not seem that bad for 45 minutes of carefull pre-flop decision making.
My one strategy tip for SuperTurbo noobs. If you draw BB 1st hand it is okay to fold any hand that LJ would not open raise 6 Max from button. You are just committed as SB.
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It was an accident that I signed up... so rigged.
Hmmm Making MONEY GOOD!
Premiums are insane.
march $30 puts and calls on Lehman were both ~$5 today. Quite a volatility premium for 3 days.
I got some friends in the forum to add 6-Handed non turbo sngs for PLO... go crush them without the pushfest!
At some point, people will make a ton by going long a basket of financials. If only I could find out the time.
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