AMD and BIDU report after close, just watching this time
My WYNN put probably going to expire worthless... was a gamble on a day like yesterday anyway. In and out of XIV for 2.1% gain today and covered my loss a few times over.
AMD and BIDU report after close, just watching this time
My WYNN put probably going to expire worthless... was a gamble on a day like yesterday anyway. In and out of XIV for 2.1% gain today and covered my loss a few times over.
Don't let that put expire worthless, sell it for whatever chump change you can get! Helps cover future commissions at least.
I think I may be done making moves this year. 50/25/25 stocks, gold, and cash will be a good setup for whatever comes.
Although I may be tempted to look at the Groupon IPO. It may be a laughingstock, if you catch my drift.
It dropped from $180 to $12 lol. Commissions exceed the cost of the trade so definitely not worth it... I'm on a losing streak with options, save the Apple trade which was only paper. I think the 100x leverage makes me use them more carelessly. I shouldn't have bought it yesterday, but I said what the heck its only $180. Feels like a lotto ticket.
Being long has been like throwing darts today, just buy a bunch of anything and it's probably going to go up
Si, si, how about that?!Originally Posted by zylon
I bought those shares for long term [with profit money], so have not paid too much attention to them lately until today! Anyway, I'm on the + side, but not by much. However, I'm very happy with my POP/TLM trades of today; the former up 14% today.I love the little stocks!
“Simplicity is the ultimate sophistication.”
ddkay, if $12 is around your commission cost then that means you'd have to make around 14% return just to break even on that trade! Either you need to trade bigger or change your broker. Also, consider put/call spreads to lower your risk.
Take your potential Jan '12 124 strike spy puts trade from the other thread for example. They're trading around 3.94 right now. If you're trading based on the chart you posted, then you expect SPY at slightly lower than 110 before January. So, you buy a couple of the 124 puts (3.94) and you could sell a couple of Jan '12 110 puts, currently trading ~1.42. Then, your cost basis is lowered to 2.52 and maximum gain is realized anywhere below 110. Alternatively, you could forego selling the 110 puts and just sell weekly calls for income whenever you foresee a short-term market rally. Trade like a pro by lowering your risk!
Sold Agrium for about 3% profit (OMG, I am becaming a day trader.... T.Gal what have you doneMay repurchase it if there is a weakness before or after weekend.
Potash hasn't moved on me so I am holding on.
I'm with TDW, which options broker are you with? It woulda worked fine had the market not rallied on the thinnest of headlines again
Yesterday the WYNN weekly $125P contract had a range of about 1.40 - 4.10 (don't have a record exactly, just going from photographic memory), hitting the higher end of that range around 11am when WYNN was at $121. 14% would have been easy.
Today we opened at $138.76, so it lost 87% of its value from yesterdays close
If I sell right now I don't get much back, so not worth doing anything IMO
Estimated Transaction Value
Estimated Principal Value: $8.00 US
Estimated Commission: $11.24 US
Total Proceeds: $3.24 US
Last edited by ddkay; 2011-10-27 at 03:49 PM.
You need a T-Shirt that says - The market gained 324 points and I made $3.24
I'm with Questrade. The options commissions aren't great but I trade large enough that they never exceed 1% of the principal. I don't trade options frequently but if I did I would consider a cheaper broker such as IB.
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