A range that survived expiry Thursday
One student in the spring evening series traded a single stock option around a name that always seemed to ‘break’ on expiry week. We printed four prior expiries on the daily, with the range already marked as if the calendar were absent. Three of the four so-called breaks were wicks through a boundary that the daily still owned by Friday. The fourth was a real range shift — and it had started two sessions before Thursday, in ordinary volume.
She kept a photocopy of that board. In week four she still asked whether a cheaper contract in the middle of the range might be ‘safer.’ The room talked her back to the middle being the problem, not the strike list. We do not know what she did with her own money the following month. We know she can now finish a range before she opens the chain, which is the work we sell.