*****UPDATE*****

*****EVEN THOUGH THE TRADE MID PRICE NEVER GOT CLOSE ENOUGH FOR ME TO TRIGGER AT .90 OR BELOW TODAY, I REFUSED TO CHASE ANY OF THE FAS TRADE IDEAS TODAY.*****

Had I chased the FAS trade, more than likely I would have lost in the trade. FAS moves extremely FAS(T) Pun Intended. It moves so fast you have to damn near time your entry perfectly, and never be afraid to set a lowball order as they usually fill with its volatility. Today after the part retracement of the gap down we were in an unusually tight range with FAS the rest of the day. That in turn made my usual FAS strategy hard to execute.

Que sera sera!

Looking at this Bull call debit spread trade in a very small order. looking to catch swing play up tomorrow, or Friday.

This is a RISKY LOTTO PLAY, no more than 3% allocation should be used for this trade.

Order Details

Leg Action Contracts Option Description Price Duration
Leg 1 Buy to Open 5 FAS Call FAS May 04 2012 104.00 Call Debit 0.90 Day Order
Leg 2 Sell to Open 5 FAS Call FAS May 04 2012 107.00 Call
Est. Trade Value: $450.00
Est. Commission: $10.45
Estimated Fee: $0.27
Funds required for this trade: $460.72
Quote FAS   104.12   -2.45 Bid 104.12 Ask 104.17 Volume 5,765,432
FAS MAY 04 2012 104.00 CALL
FAS MAY 04 2012 107.00 CALL
Bid 1.67 0.51
Ask 1.73 0.56
Last 1.68 0.68
Change -1.82 [-52.00%] -0.97 [-58.79%]
Volume 610 262
Delta 0.52 0.36
Open Int 240 613
Desc FAS May 04 2012 104.00 Call FAS May 04 2012 107.00 Call
Net Quote
Bid
1.11debit
Mid
1.17debit
Ask (natural)
1.22debit
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