I'm a newbie, went long w/ 10 @7.5 contracts got in on wed, what a great ride!
being a newbie I got a little shakey towards the end of today but I'm stickin this thing out. However I'm thinking of installing some protective puts to bring my delta to zero with the intention of subsequent removal once the shorts clear, I utilize trend software and see some additional decline for monday morning at this point.
The mid to long term is Really impressive for a long.
dam dude ur a newbie and ur jumping in with options? what kind of newbie are u? if you think its going up buy some stock if uthink its going down sell short that option shit is for hedges, buy some stock and a equal amount of puts a month out if u want to be really safe.
Intially bought the stock at $7.95 but sold at $8.30. Because of the high volume and good follow through for the last 5 days Turned around and bought 125 contracts of the 12.5 july calls at $.25 and $.30. Contract highs today about $1.30. Closed up at $.70. WIll close position if price reaches $.60 or volume dries up.