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BlackBerry Limited Message Board

  • SMAC693 SMAC693 Dec 22, 2006 8:56 AM Flag

    Man, I really fukced up buying options

    I thought this would swing huge up or down, not fukcing flatline a little above 135

    I straddled the Jan 135s for 8 bucks each.

    What should I do?

    I know the moment I sell the calls for a loss the stock will go up and my put will become worthless. Or worse, this will open at 135 and both will expire worthless.

    Goddam it, I hate this fukcing stock.

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    • The good news for you is that you still have 29 days until expiration, and RIMM is a hugely volatile stock. If I were in your shoes I would probably wait for a 10-12 dollar swing and then sell the winning leg of the straddle for most of the $16 you invested. Leave the other leg alone and hope for a correction.

      But don't wait too long on either side. You rarely get 2nd and 3rd chances after big moves this close to expiration.

    • You are victim of option market makers who screw you on both sides as stock probably closing around US $135 today.

 
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