Friday, January 05, 2007

Nymex Holdings

My synopsis of NYMEX Holdings, Inc. (Public, NYSE:NMX) is that it's been coming down off it's recent high of $132.99 in a steady pullback. Today that short term pullback may have seen it's last breath. It printed a textbook Hammer Candle and firmly reversed on a 30 min time frame. I'll be keeping an eye out to add to a longer term position I've started.

Position: NMX June 2007 $150 Call
Purchase Price: $2.45 per contract
Objective: I put on a small position to add to later, if it pulls back to $115 support, or trends higher to $120.

Near Term Solid Support: $115.00
Current Closing Price: $118.86

Today's Chart:

Since IPO:

More Techy Analysis Coming..

1 comment:

Terence said...

It's interesting that you mention NMX. I write a blog at http://optionjungle.blogspot.com and I was about to post my longer term call play on NMX on 1/3/07 when it closed at 124.01. I was looking at the JUN 07 120 Calls which were priced at $14.50 with a delta at .64 and an IV level at around 34% (just off 52wk lows. I too think that this is a sleeper in the hot exchange sector especially since NYX will likely move higher after Cramer's recommendation on Thursday. Also, I liked the fundamental prospects of NMX after reading Reuter's update on increased e-trading volume. I will looking at an entry price next week especially if it holds 115. Thanks for your post. Terence K.