Originally Posted by RubberSponge:
At close this was at .54. Bought in at 12:25-12:30pm for .39. 34.62% gain in 2 and a half hours. I look at that gain as insurance in case tomorrow BAC goes down a little. Set up for Friday morning earnings to make the option price spike in the morning. I should be out by noon. If not, I have till the 20th to make a decision. But I don't really to want to hold this position over the weekend.
Still like the position I am in with this trade. BAC took a step back while some repositioned money. If BAC goes down tomorrow. Which I don't anticipate in the morning. I will hold on probably over the weekend. If it spikes on earnings, I'm selling out. [Reply]
I have three cards already. All with zero balances. One I haven't used since 2010 and only keep it because it is my oldest account. Should I cancel it? We will be upgrading houses in 4-5 years and I want a top notch score. [Reply]
Originally Posted by scho63:
I play options to hit a home run or grand slam. I see it as 100% risk dollars as I have no hedging strategies to offset any losses nor do I write options against stock.
I buy puts and calls only, not index options.
I had one good hit last year with Nuance, NUAN, made $11,400 on a $1,500 investment. I've also lost a TON of money since 2009, all risk dollars.
Do you ever buy anything other than a long call or put? [Reply]
Originally Posted by RubberSponge:
Do you ever buy anything other than a long call or put?
I buy MOSTLY short term calls or puts that expire within the week. I've even bought options on a Friday morning that expire at the end of the day hoping to catch a big move with high leverage.
I have to be careful because twice this year I was designated as a day trader for moving in and out of more than 4 round trips in a single day and it caused all kinds of alarm bells.
I need to keep $25,000 minimum in my trading account to satisfy Scottrade if I want to day trade so I don't do it.
One time was an error because I liquidated options that were in the money over two days and in 5-10 contract blocks instead of selling all 70 at once. Got hit with like 6 R/T trades on that the way the new rules apply.
Do you ever notice how traders try to move a stock to close at the strike price on Friday's close? [Reply]
Originally Posted by Dunit35:
Anybody see Amazon came out with a new card with 5% cash back on Amazon purchases. We use Amazon a lot and was thinking about getting it.
And yes, we pay off monthly.
Saw that. I already had the card, so it's nice to just have a new perk. :-) [Reply]
Also-who is into the Medical Pot stocks. I have 4500 shares of one "company" that did not do squat. Some other stocks soared 125,000%. Curious where you think the next play is with so many states changing pot laws. [Reply]
Originally Posted by RubberSponge:
At close this was at .54. Bought in at 12:25-12:30pm for .39. 34.62% gain in 2 and a half hours. I look at that gain as insurance in case tomorrow BAC goes down a little. Set up for Friday morning earnings to make the option price spike in the morning. I should be out by noon. If not, I have till the 20th to make a decision. But I don't really to want to hold this position over the weekend.
So did you sell? Now you're underwater if you held [Reply]
Originally Posted by RubberSponge:
Get out. Take a gain when you see it. Don't try to be too greedy.
I did that recently on WRMT. I had spin-off dividend shares from PWCL, a solar energy company.
I had them at .00 cents due to the dividend and sold at almost $3.00. Here it is a year later and the last week the stock has shot to the moon- 30% daily gains-now sitting at $24.00 per share. Could have bought it 11 months ago for 9 cents a share. :-)
At least PWCL has been moving upwards. Big gain today. [Reply]
Originally Posted by Dunit35:
My only question is.
I have three cards already. All with zero balances. One I haven't used since 2010 and only keep it because it is my oldest account. Should I cancel it? We will be upgrading houses in 4-5 years and I want a top notch score.
If you don't have an annual fee in a card, I would never cancel. It will shorten your average age of accounts and potentially negatively affect your score. [Reply]