I'm an options trader and this run-up has me a little nervous. If this hits $40 today does everyone anticipate a sell-off? I just want to bail out while the going is great and not get too greedy here!
it costs me $6 a trade so I like to spread it out and cover myself......My down target was 38.50 so that was close enough to start nibbling
With gold and silver if I blow it I'm still happy to own it and just means it will take longer than a day
I sold some Feb 39's for .94 several weeks ago..and up till even yesterday I never dreamed these shares would be called away from me...now it looks like i'll have to spend a couple hundred $$$ to get them back.
I was always told...it's easy to buy stock....the hard part is determining when to SELL them...and I'm learning selling covered calls, is just the opposite.
Live and learn....
hbrown412 I sold covered calls for SLW a long time ago when it was around 20 something. I got burned and had to buy them back and learned my lesson. Sell the covered calls once the stock is exploding and extremely overbought ..not at the lows :)
Needless to say I stopped trading covered calls.
I'm still holding those SLW stocks too.. long-term hold for me (no covered calls :)
I was wondering the same thing. I have MAR 42s and JUN 45s. I`m looking at a +300% profit on the Mar 42s as I type (bought at .33 now at 1.12). With exp. today thinking of rolling over the MAR calls and staying put on the JUN calls.
babysit it and use a stop your comfortable with.....you can adjust your stop if necessary.....
we have mid east tensions, inflation, shorts, massive dollar printing, gosh that's giving me a headache
I have to admit...I am starting to think this may be enough to cash in and wait for a possible DIp. It's one thing to be greedy. It's one thing to be foolsih. It's a terrible thing to be follishly greedy. POS has followed the run up nicely so at least there is a "good reason" for this bust out today.