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  • biglefthook_00 biglefthook_00 Jul 8, 2013 3:29 AM Flag

    Many, many years ago, some one asked,,,"Why do you play long term options?"

    For the same reason why Will Sutton, the notorious bank robber answered when asked "why do you rob banks?"...."it is because that is where the money is!"

    the key to playing these is timing.....Last year, about this time I suggested to close out theAAPL Jan 2013 $600 CALLS FOR A $40 PROFIT then sell the JAN 2014 $600 CALLS FOR ANOTHER $80...

    I did not foresee the price fall... was just chasing the premium on an asset....just an hunch

    By the way, those AAPL moves eventually totaled $225 with a third trade. So anyone who bought AAPL at $600 has not lost money IF they agreed and acted upon my suggestions.

    I am rather proud of those ideas

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