A week ago Tuesday morning, March $4 calls were bid at $0.00. They are currently bid at $.04. They have been over $.20 in the meantime. I started with 500 calls, now I have 230. (I will wait until tomorrow with my remaining calls.) I sold 270 calls at prices ranging from $.05 (a few minutes ago) to $.21. With the money I bought 90 June $4 calls over the last few days. The way I have to look at it, I bought the 90 calls with "found" money.
I have to believe that the "powers to be" are going to keep C at around $4 through tomorrow. Just in case I'm wrong, I kept the 230 March calls. I believe C goes higher next week, (after options expiration) but I hope it's sooner. I would love to see C go higher tomorrow and make some money on my remaining calls!
Regardless, it has not been a total waste. At least I was able to buy at least (depending on tomorrow) 90 June $4 calls with my "worthless" March $4 calls.................
C is bid at $3.99.
C March $4 calls are bid at $.01.
None of this surprises me.
What would surprise me is if C trades up to $4.10 or so today, and I am able to sell my remaining 230 March calls.
C will be going up next week.
(It's on to June $4 calls and let's "win" there!)
if my shares don't get called away (3/10 4's) i plan on selling the apr. 3's . a pullback is coming not only for c but the market as a whole.
this obama hc crap is scaring the heck out of many investors. jmho-bucko
Yes, Bill. I am only trying to help b/c I feel like you are a nice and sincere guy. Since you insist that you know exactly what you are doing, I will just keep my opinion to myself from now and wish you luck. However, your constant lamenting on your option trades get a bit old at time; you may consider giving that a break.
Your attitude is less than kind. "YOU ALL deserve to lose it all", is a rather mean spirited comment. Anyway, I believe playing options with a "strategy", is a responsible (although risky) way to play the market.
In regard to today:
I have 230 March $4 calls left. I do not have high hopes for them. Frankly, I would be ecstatic if the option traded above $.10. If I am able to sell, I will in all likelihood buy June $4 calls with the money. It's hard not to believe that the market makers do not manipulate the market on options expiration day/week. I wonder if they truly have that kind of power?
Wow, everyone has to hit their own "rock bottom". I think that is quite a statement to make. You really don't know me. Anyway, apparently you are trying to help. I appreciate the sentiment.
There is a difference between strategic risk taking and pure gambling.
I think you told me once that you were a broker. I am really surprised. You should know how the games are played, and the house always wins. I just hope you are not putting all your capital in short term option plays, but from the sound of it I am afraid that is the case.
Anyway, I was just trying to help, but doesn't look like I am doing any good so I will stop. I guess everyone will have to hit his/her own rock bottom.
Do you know the meaning of passive aggresive?
Anyway, I think it would be a miracle if C goes significantly over $4 tomorrow. It will probably close within a few cents of $4, one way or the other. At least I sold some of my March $4 calls and reinvested the money in June $4 calls. But, you never know what tomorrow will bring.
It's not over till it's over..............