Sweepers active, mid-morning, selling calls with largest positions at the 172 strike.  On the put side, the 165 strike sold at the open.

The 170 strike saw the most activity on Friday.  This is a customized database that captures buying and selling.  Sweepers bought QQQ calls from 10:40 AM to 1:33 PM and then, aggressively, from 15:55 – 15:56 PM.  This can be seen in real-time, as well.

Initially buying on weakness and later, buying high.

This UOA scan revealed high volume in AGN calls.  Two weeks ago, prior to the tumble over breast implant litigation, some shareholders appeared to be selling covered calls.  Half of that volume was covered today.  Is this a long signal or just a marker for shorts taking profits?  Another example of the importance of context.

1. Traded without new decision support tool that displays expected range in right sidebar and buying/selling volume in subgraph.
2. Overemphasized options chain data, neglecting the complementary perspective provided by the chart.
3. Took the trade as a “breakout” following a long signal, a practice that often gives up margin of safety.
4. Elected to stay in the trade, biased by my initial profit.