Having a hard time processing this- Bought 100 $525 CALLS last Friday @ .65 sold them for a $3000 gain and then 90 minutes later they were worth $60,000 more... Cant sleep feel sick---anyone have a similair story from Friday? How can a $3000 gain feel so bad?
I messed up big time too. I pulled out too early. Could have had 20k off of a 1k investment. Be patient next week. The down trend will continue. Look to see aapl hit around $500 by monday or tuesday............ It should hit 400$ before new years..Just sit patient. Thats all...........Youll get your shot again....... Take half that money & look towards some dec22 puts ..strik price $400-$420ish
Sentiment: Strong Sell
As a corollary I SOLD 10 of the 550 puts on 11/2 at 2.85 when AAPL was around 595 and saw the stock plummet on 11/9. I scrambled to close the position at a loss of nearly 10K on that day. It's better to make 3K than lose 10 K any day. It was truly frustrating. The increasing volatility and computer derived HFT will make trading a thing of the past for retail individual investors like myself very soon.
Appreciate the replies cause this really feels krappy----as you mention , I had a plan to sell half to cover my costs and then ride the rest on the house---but when it went negative I freaked...and just wanted to break even ----emotion too over--- and you are correct--I learned--will not happen again ---will cover cost and then ride it out---GLTA
Yes, was a weird day were if you had waited and been pateint both 520 puts were going for under 1.70 early in the day and got up to 20.00, and 520 calls got down to .60-80 range before ripping to 10.00. Just a few grand either way at the right time could have yielded big money. But the real money is to be made if a new uptrend can establish itself and we can see 575 and get back above some of these support/resistance levels.
If it makes you feel any better, I bought 50 520 calls around .75 and sold them for 8.50. I know how you feel housedoctor66, because for the last 10 weeks I've been pretty much losing. Friday was my first win of this size in a long time, mostly been losing big. At least you made money Friday, I've lost a lot the past 10 weeks, more than I ever would have thought I'd be ok with losing. Remember those who bought your calls probably flipped them off too, or had been losing big as well. Its not like this is easy or everything is always supposed to work out for you everytime. Thats what I had to remind myself of.
No!! The $525 CALLS that I bought went as low as .15 ! then went up to high of $6.20 within 90 minutes or so.. I had 100 contracts @ .65 so thats $6500 ..sold them for $9500---then they were worth $62,000 at the high------crapppppppppppppppppppppppp