I still believe apple is a 650/share stock, but unfortunately I gathered so many apple callsI had to sell for a huge loss when apple was at 395. If this move up would have been one week earlier I would have made 200K, but instead lost 140K. should of, could of , would of.. That's why you never overleverage. Not all is lost, still hold over 600 shares, but my breakeven went from 435 all the way up to close to 600.. Ouch! I will never do options again! This will be my last post, so wanted to wish the bulls well. As far as the bears go, I think you got lucky (for now), but I would find better prey than apple. I would be licking my chops at Pandora, Tesla, Netflix if I was shorting but timing their fall can prove difficult. Apple would be the last stock I would short!
Options are for short term movement hedges. e.g. if an iffy earnings is coming up you might want to hedge your equity position with a corresponding spread of puts well out of the money but within what you can afford to "lose" in equity on your hedged position, accepting that if the puts expire worthless you've SLIGHTLY increased your average (not like having hugely expensive in the money calls croak).
Hedging is the best and for the retail investor most reasonable use of options. If you want to use a LITTLE leverage then use the margin in your brokerage account. The interest will cost alot less than ONE failed options position and you can hold a temporarily out of favor issue until it recovers.
Been there more times than I would like to admit. Learn what you can from the experience and then forget the feelings associated with it. Focus on other things now, like you said, your family and we will talk again north of $600
3 downgrades in a row last week, Jeffries, i forget who on Tuesday last week, then Susquena on Wednesday
looks like Raymond James has more clout than those 3 combined.
lost some shares on margin call but still have most of my stake,
need to write calls on pops like this, did so for the first time today July 12th 420s at $6.50
will buy back today for sure at gain or loss and try again tomorrow
sorry I did write $400 calls last week but closed at small loss that same day, would have expired worthless. The muppet that I am, took me a few months to see that call writing was more repeatable trade than going for the big kill ten bagger. I might making a stab at a V bottom in the future but will try call writing for now
It's refreshing to find open honesty on these boards every so often. Sorry about your bad trade. We've all been there. I was damn close @ 388 but held tight. There's a lot of volatility with Apple. Your health and family are number one for sure. Keep in touch....
Stop back in @ $600 in a few months
Sentiment: Strong Buy
I can't do options or day trading. I have a bookie that's only open during football season. Starting about right now I get real excited. September comes and I'm in heaven. Come January I am rag tired just from the stress. I retired from what studies showed was the most stressful job with the highest sustained rates of elevated adrenaline levels. I guess I shot my wad so to speak. I've done a couple of contracts since but generally I can't even take the stress of deciding whether or not I want an umbrella in my drink.
Anyway I feel ya brudda (form annuda mudda) and you'll break even in time plus an additional 100 grand or more. stay LoooooooooooooooooooNG Good Luck and Vio con Dios