Horrible Bid/Ask Spreads
SKF, SSO and SDS are really bad today. I think the specialists (MM’s) are scalping today because all of these are way way off the max pain for options expiration tomorrow.
Execution is slow (not due to the broker) and spreads are just horrendous. Limit orders only today.
One of the basic rules is: don’t trade intraday/swing in the expiration days.
MM are hunting allways your stops by a theory of conspiration.
It’s heavy reason for many traders to place their stops on paper, in Excel or somewhere else 🙂
I wasn’t using stops since Tuesday this week. I really like trailing stops but even with a generous “safety margin” they kept being taken out too early. It was a total whipsaw.
Since I’m hedged with SSO right now I’m not that worried about stops anyway.