I am not bullish on oil at all right now. I think we struggle to get over 55 and on towards 60. Too much blustering BS going on with pumping nations. All of them are pumping more they they say. And I don't see it ending anytime soon. I do not think we will see the gains on oil like we saw last year. Of course I could be very wrong and oil make another 45% gain this year. [Reply]
Originally Posted by RubberSponge:
My uncle and father love playing that way. I have seen them lose money and make money. But damn does it not tie up a lot of money that could be making money elsewhere. They are looking for big paydays. I look at it as daily bread.
Him and my father do not like the way I trade very much. They think I take a lot of time sensitive risks. I will buy options with 3 days expiration if they are cheap. My call this week of course was a no brainer with BAC. Monday morning I bought in at .36. Just sold out at .58. 100 contracts, 1 day. You can do that addition I m sure. Didn't even make it to the earnings like I thought. I at least thought it wouldn't be till Friday to hit 23. I was wrong, it was today. Don't care too much if I potentially left anything on the table either. I made money. That is the whole point. Trying to make daily money. Not watch an option go up and down for 2 yrs. That shit would drive me insane.
I'm not embarrassed to admit but this is way over my head. [Reply]
Originally Posted by lewdog:
I'm not embarrassed to admit but this is way over my head.
I made a $3600 investment in Monday that expired on Jan. 27th. I cashed out with $5800 on Tuesday with that one position. I'm sure that is not over your head.
And boy do I wish everyday is like that. But unfortunately it is not. Options are just a fun game I like to play. [Reply]
Originally Posted by RubberSponge:
Just bought back into BAC. 23 calls, expire on Jan 20th. Paid .39.
Pretty much same position as last, just a week less time. Same strategy. Be out of them by this Friday morning.
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. [Reply]
Originally Posted by lewdog:
What brokerage provider are you using?
I trade through TDAmeritrade. I use Worden TC2000 for charts and other notes. Charts I mainly follow are, price, volume, rsi, money flow, momentum, and fast stochastic. [Reply]
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. [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.
I need to get this done.
Our card for personal stuff is a Cabela's CLUB card. Which I'm going to dump because Bass Pro is rolling that business into Chase. I know a lot of people at WFB... :-) [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.
They actually modified the existing card
It used to be 3% amazon/2% some categories like restaurants, etc. 1% everything else
They modified it to where non-prime members get 3% but prime members get 5% now. Pretty sweet.. I'm assuming they'll get rid of the Amazon Prime Store card that used to give 5% off at Amazon with nothing else. [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.
Very nice. How long did it take for that position to play itself out?
Options are just a fun game to me. I don't really care about losing too much because it is going to happen with options whether you like it or not. I try to limit losing by taking short, less expensive positions. OF course there is more to it than just that. But nonetheless, if I make money, great!. If I lose, I hope to learn something. I do not concern myself with any fees either. That is just part of the game. I will say I have made more money than lost. But most of that has just come down to luck. [Reply]
