Apr 14 Options Trades Update

Shares across Asia fell sharply following last Friday's slump on Wall Street. The Japan Nikkei fell 3.1%. I was queing to write limited N225 May 10000 Puts for 20 points but never got filled. Highest was 15 pts towards the close. The market has been extremely volatile & we have seen it turned on the dime. So anything can happen although the general bias is still bearish to at most cautiously bullish. Being an option seller, we are looking at where the market won't go rather than where the market will go & selling far out-of-the-money Call or Put options 2-3 mths out, allowing for greater margin of error with certain strict cut loss rules which pretty much sums up the strategy.