We have had a high over $100 for several days so this looks good for $3 move. This is a high beta growth stock.
I am looking for $5100 here on the options when we go over $100. We may even see it again this week.
Wish me luck because I took a hit on AAPL options selling and buying this today.
You'd do better with the stock than the options...
The risk reward is not worth it for a small profit like this.
If you use options that lose value fast as they are close to expiration, you need to make a good plan for your risk reward. but glad you got out well.
i like that you want to trade options but you have to have all 3 things correct to make money, strike price, direction, and timeframe
and you were right i did tell you on sept 30 to sell at the open. so i will prove my point with good ole fashion math.
you posted on 9/29 at 12pm i dont know the stock price so we will take middle of candle at 98.50. i told you tell sell the pop on the 30th. the high was 98.33 taht day so not much loss but lets assume you had a 20% loss for math purposes.
6.79-20% = 5.43 loss of 1.36 *1900shares(19 contracts you added 2 later)=2584 loss.
5.43 a share and buy at the 2.60 it got down too gets you 39 contracts. today its setting at 6.55 split bid/ask. almost a triple on your reinvestment or over 10k profit- 2500 loss gives you 7500 profit today your out of trade and no worries.
one freindly tip NEVER EVER EVER buy at the money strike price in any option. there is too much premium built into it. the last week of the strike that premium is eroded very very very fast so that 6.55 would be actual stock price minus strike price or 97.22 - 95 = 2.22
No problem. We all just want to make money. I have no agenda.
Yeah sometimes I get scared and sell too soon but usually do best if I play out the original thought especially if I am going to sell losing half my money in 3 days with a couple of weeks to go.
Having said that I am trying to get better at buying 1/3 positions and averaging down should the position turn on me and my original idea is intact.
I also try to use stops taking small profits if it turns and letting it run when I can. I am trying to get better at limiting losses especially with options but it is tough when the market does what it has done lately.
well sir first off your wrong i didnt tell you to sell. i said i feared your oct(front month calls) wouldnt work for you.
but to answer you question yes i have left 80% sometimes, sometimes i have left 10%, sometimes 50% but i have also cashed out for profit 100% 300% and just yesterday 700%. if you jump on SQQQ message board you can see where i closed out my short positions and went long with a list of 15 tickers and deck is included in that list well before market closed yesterday and if view prior days posts you can see where i said at what levels i would close out at.
i am a trader on technicals. my gut feeling does not come into play.
i never intend to critize, riducle or anything just help a fellow investor. this game is hard enough with the high speed computer trading and hedge funds i am just sharing my eperience and hopeing other successful traders do the same.
i still hope your front month calls work but it has been my experience purchaseing front month options just because a stock has been over 100 for several days and has pulled back slightly will fail more then it succeds.
Thanks for your advice but selling at $3.10 is leaving too much on the table when we are now at least at $5.6.
That is over an 80% gain over where you wanted me to sell. I know that the end of day huge rally was unexpected but I just wanted to show how incredibly wrong you were today.
I hope you are not leaving 80% on the table for all your trades.
You may be right about this.
There is plenty of time since most of the loss happened in 2 days. I just do not know if the market will turn with all this overseas BS.
It already looks like the stock wants to be down over $2.70 pre-market so I may not have a chance to bail. I guess what sounded like such a good deal a few days ago turn horribly sour quickly. It is a long time since we had 5 days down in DECK but me buying risky options will do it I guess.