VMW is now trading below the price I bought @ 55 on the IPO day.
Hey you bastards at VMW, get your arse working and stop eating those free food at your company.
Whoops sorry I reccommended the wrong Dummies book, the one you want (it's coming out soon) is "Trading Options For Dummies" which you can pre-order. (although you could learn the equivalent online for free....)
Unfortunately I don't have time to do that, but I would suggest that you consider a book or an online tutorial to get an idea of how they work. Take a look at the options tutorial on Motley Fool for example:
or buy a good starting book on Amazon like "Stock Options for Dummies" (buy a used copy cheap) These kind of books are actually quite good if you're just starting to get involved in trading as they present the concept in easy to understand practical terms. You might want to also consider a long-term investment book like "Standard and Poor's guide to Building Wealth with Dividend Stocks" which is a GREAT guide to making serious money over the long term.
Hope that helps!
I don't know if you read my other post to you , so I will ask again. We live a couple of miles apart. I am in Kensington, CA. Would you be willing to meet me and spend an hour explaining options? If you would prefer to answer this off the board I have an annonymous yahoo e mail at firstname.lastname@example.org. Or you could just say no and I would understand.
Just remember you haven't lost money until you sell. We had a losing position in Hologic Inc (HOLX) and now (about 5 years later) we are up about 300%. Just something to keep in mind. We just kind of forgot about the holding and ignored it for a while.
My current loser is a small position in C which I bought just before the crash. Now I don't even look at the price much, and figure it will return to normal in about 2-3 years.
You may want to consider either:
1. Put in an incredibly low market order at (for example) 45 to lower your cost average; who knows, it might get picked up on a long day if Ambac (or some other mortgage insurer) goes bankrupt for example..
2. Take a look at some call or put options to protect your positions. They are cheap (at least the out-of-the-money ones are) and can reduce your exposure on the downside.
It's probably worth reading up on them if you have a high cost average...(or are impatient). There is a lot of value in VMW, and they are rapidly consolidating their market leader position. As I said, my only concern is the effect on share price when (not if) EMC releases some portion of those 87% still-held shares...
Good to hear you are in business that uses VMW. You have a better vantage point. I hear the same from all the tec people on the board. Sometimes I even try to read and understand White Papers, on the topic. Some days April can't come soon enough!
I am a data warehouse consultant and I am using the product on a regular basis.
So I have a great deal of faith in the product both working with it and seeing it installed literally everywhere I work at an astounding pace. The more data center guys learn about it the more they like it.
Yes, I definitely should have taken profits but to be honest I figured I would let it ride (instead of buying put options which would have been smarter....). Oh well! I would certainly consider putting a stop order in but I prefer the put option as it is more flexible.