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BlackBerry Limited Message Board

  • scamhunter9111 scamhunter9111 May 8, 2013 10:14 PM Flag

    Options Comments.

    Down on my 30 June 7's $16.50's at $1.65, up a bit on the second 30 I opened of June 7, 2013 $16's at $1.80, but total position in the hole about $1,200 as of today. Will end up ahead if stock price remains unchanged from today, but not my best trade of the week. Had lined up enough for 3 or 4 shots at this, but holding steady right now.

    CLF has been the star of the week, but it is dangerous due to the big swings. Due to hot market, just don't see much left to do any short puts on left, but it changes every day.

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    • Looking better now I assume. It seems most the bull action is $16/$17 near term calls.

      • 1 Reply to jaypcl2002
      • Most the near term action is June 14-18 calls, June 9-15 puts. The out of the money calls aren't cheap, some of the lower price puts are low cost gambling.

        Combined position up $1,089 net as of the time I'm writing this, but ultimate objective is expiration of the puts on June 7 for a profit of $10,299. Breakeven would be a BBRY close at $14.53, below that would have a loss.

        Writing puts is a bit like private lending on real estate, never do either unless you are willing to own the stock or real estate. Otherwise a bit like the casino owner, be backed by strong capital and try to recognize the occasional big loss and cut it off. I may start looking more at short calls on a few stocks, but this is a tougher game.

 
BBRY
7.17-0.11(-1.51%)4:00 PMEDT