Rolled down 3 of the Jan. 12.50-strike calls for Jan. 2011 to the 10-strikes for that month. Cost of just $143 per unit or $445 after commissions.
I am now at my targeted complement of 140 Jan. 10's for '11 along with 260 of the 12.50's. I intend to buy 10 more of the 12.50-strikes when I roll out some covered calls within the next week or two.
Negative cash now stands at $181,110.
03/24/2009 15:28:32 Sold 3 VPEAV @ 3.15 936.04
03/24/2009 15:29:32 Bought 3 VPEAB @ 4.58 -1,382.95
To quote the moron:
"The true champions blow away their opponents - the aren't like "cardiac kids" in football needing to come back in the fourth quarter from 17-point deficits by needing their opponents to fumble, recovering onside kicks, getting unbelievable breaks from the officials with pass interference penalties, etc."
>>>Change "superior" to "irresponsible and maniacal<<<
To be accurate he would have to drop "Method" as there is no method he could write down. He simply doubles down whenever opportunity exists, he is forced to or he has found new money to place in the account.
That isn't a method, it is simply day trading/trading etc etc...
There is no game 1 , 2 or 3.
There is no "recovery blah blah blah"
There is simply trading buing and selling calls and naked puts. As is usually the case he loses on each rollover as well.
<<All Games: 281K investment all told>>
How does that square with this?
<<I didn't actually invest all that much more than I had previously - only 40K to 50K>>
Whom do you think you are fooling? I don't read your dishonestly presented results, but saw the 281K admission quoted above which confirms exactly what I said:
You lowered the breakeven from the original 100K investment mainly by doubling and tripling down when the stock declined, and continuing to add the new money with hyper-leveraged positions. Of course, that lowered the breakeven even as it greatly increased the risk. You are under the delusional assumption that Pfe cannot trade below a certain PE, even though all your similar predictions have been WRONG . There are scenarios under which Pfe could head much lower and the people, like Nuriel Roubini, who correctly predicted the housing collapse and banking crisis have not changed their view and predict further declines. They may be wrong, I sure hope so. But they may be right and if they are you'll be finished. Investors who are not leveraged, have a reasonable % in gold and bonds and write a lot of covered calls and collect dividends, will survive if not thrive if future declines occur. Adding some long puts and/or shorts would further mitigate losses. No strategy that would allow for catastrophe can ever be "superior". Change "superior" to "irresponsible and maniacal" and you would be accurately describing what you are doing. "Gambling" and "addiction" are other terms that come to mind.
So indeed I lost big money in this once-in-a-lifetime credit-crunch market with games starting at $27.99 and $19.18. Now let's see how superior methods fares in a game that starts at $12.73. I think you are going to be amazed.
oh, we're 'amazed' already, ..at your willingness to lie, dodge, distort, brag, and truly 'amazed' at the depth of your need for attention,.. even if it's the worst kind, apparently growing up,.. you amazed no one...
<>>>>I think I have a much better way of doing things and I'm sharing a real-money example with the board. Obviously if I were after adulation, I wouldn't be spending much time on this board of losers. <<<<<
You suffer from delusions of grandeur. It is a disorder. Get help. You are the only one I know of who has lost 3 times his investment in anything.
You have very deep psychological disorders. Possibly generated from being the loser in your family as well. It started early.
Occasionally when I open a webpage I will see a game off to my right side of the page asking how many triangles are in the picture of a triangle with smaller triangles within in.
Mildly fun game to try to count them.
Here is another game everyone here can play and every day you post. How many lies can one count in the post.
This post of yours has many.
You play your games, I'll play mine.
I didn't actually invest all that much more than I had previously - only 40K to 50K. I did have to tap the annuity for sufficient margin to allow me to keep all of my naked puts but merely providing margin isn't the same at all as investing it. That cash is simply sitting there serving as collateral and earning a tiny amount of interest.
Most of the progress that I made in reducing the breakeven was in rolling down higher-strike long calls to lower strikes and using the proceeds from covered call-writing to add to existing holdings.
Yes - the added 40K to 50K in inveestment funds did help lower the breakeven somewhat but nowhere near as much as what I have done in the options-rolling department.
I have no idea where you got the idea that I seek adulation. I think I have a much better way of doing things and I'm sharing a real-money example with the board. Obviously if I were after adulation, I wouldn't be spending much time on this board of losers.
In your TYC days you used to profess you'd roll out and UP.
Lost your ass in those days.
Now days you are rolling down and out (of higher strike ITM options).
How much $$ are you 'out' rolling from the 12s?
IOWs how much did you pay for those 12s that you sold to buy the 10s. You lost money on the sale of the 12s, you had previously bought.
Here is a scenario for you that maybe you can even comprehend.
Buy a stock high. Sell it for a loss, later lower.
Buy the stock back even lower. 'Hope' in the fullness of time that your newest deal will 'pan out'.
In this scenario do not count the losses from the first deal. Only the gains IF your newest deal pans out.
Then come on a stock msg board and claim victory. Claim you used superior methods.
Never mind ignoring you invested more and more money that was never intended when you started.
You are one sick being. I won't even use the word 'human'. Just 'being'.
Wasting life. Losing wealth along with the waste of life.
And, lying all along the way.
Aren't beings like you supposed to be insitutionalized?
Here is an excerpt from your post:
In your TYC days you used to profess you'd roll out and UP.
I used the same methods to get out of the Tyco hole as I'm now employing with Pfizer. Namely, I did options rolling encompassing:
1) Long call holdings were rolled DOWN-to LOWER strike prices.
2) Naked puts short were rolled DOWN - to LOWER strike prices.
3) Covered call options were rolled UP - to HIGHER strike prices.
What I just did was to roll long calls DOWN - just as I did in my Tyco recovery.
Do NOT confuse the two kinds of down-rolling with the up-rolling of covered calls.
It's scary what an absolute options know-nothing you are. To you there's no distinction between rolling long options down and rolling covered calls up.
Be prepared to take it on the chin and to lose credibility every single time you choose to challenge me on options.