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Bank of America Corporation Message Board

  • whasaubee whasaubee Jul 1, 2009 12:57 AM Flag

    1000 Jul 13 Calls...What to do? Serious answers only.

    Should i sell or hold until earnings?

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    • Any help out there?

    • You are an idiot and god help you.

    • First.... I would never take suggestions from the board on when or when not to trade. I may consider ideas etc from here but I always make I own decision. with that said, from what I am seeing in the charts BAC has been staying above its 200 Day Moving Average and today punched through the 50 Day moving average a bit for the first time in this uptrend. I am having a hard time as I analyze this tonight to determine if it is going back down to low 12s then only to pop up again through the 50MDA. I think that is what is going to happen but I am not certian..... If it does to that, that I think it is very possibly going to go as high as 14 maybe even reach 15 in the short term. Long term, as long as nothing is hiding in the closet in BAC it is trending toward the upper teens. again... this is just my opinion and you should do your own analysis.

      To see the chart I am referring to. go to add a 10 Day Simple Moving Average and you will see how it is bouncing off that as well.

      • 1 Reply to cgptmsi
      • Apparently, you don't know how to read charts.
        1 - BAC is following a 20 Day Exponential moving avg as support, not the 10 Day simple moving avg.
        2 - BAC has been trading below the 200 SMA not above as you say.
        3 - BAC "punched" through the 50 day SMA 4 months ago not "today"..."for the first time"
        4 - One does not need to go to that stupid link stockchartsblahblah to see a basic chart

        Having said that, I'm sure you just switched the 50 SMA & 200 SMA. Continue to do more "research"...

    • If you have good profits so far, then sell half and hold the other half imho.

    • The bounce of the 20 DA to the upper BB repeatedly appears to show that we are headed higher. This has been a good trade for a few weeks. Do you agree?

      • 1 Reply to whasaubee
      • I think it does show it is going up over the next few weeks. I think the fact it broke through the 50ma for the first time is another indication that it is going to continue to climb. I am just trying to make some $ as it bounces a bit.. I used a 10day MA which showed it was going to do this last spike over the last three trading days. Todays doji above the 10D MA makes me think it will drop down below the 10D MA which puts it at about 12:40 or so consolidate a bit and then ...hopefully...bust through the 50d ma..

    • First, I agree with the poster who suggested you not take buying/selling advice from anonymous posters on a message board, myself included.

      Secondly, I'll be happy to tell you what I plan on doing and why. I don't know anything about charts. MA's I understand, candlesticks ...? I focus on the company's fundamentals and the big picture of the economy then go with gut instinct. A couple weeks ago, I had a feeling BAC was going to continue the "run up to OE week, then drop" tendency its shown since April, so I went in pretty deep (for me) in July and August calls from $14-17. Unfortunately, I bought BEFORE OE week last month (still learning options), so I'm sitting on huge losses right now.

      On the upside, I'm still sitting on them and still think I'm right. I expect a nice bump next week because SOMEBODY is going to preannounce. Maybe BAC, maybe GS or JPM, but someone is not going to be able to keep a secret. Then all the positive buzz that's been going on about the stupid profits the big banks are expected to report in Q2 is going to create a buying frenzy.

      I'm going to ride that wave to whatever price level it drives BAC to then hit the sell button on the 9th or 10th. I'll cash out and buy the stock because their long-term (2-3 years) earnings potential are astronomical. Even if they disappoint on the 17th, I'll take the 6-8% drop and ride it back up, no problem. Probably even buy more.

      That's just me. If you had enough sense to load up that much, you have enough sense to know what to do next. Trust yourself ... it's your money.

      • 1 Reply to rlcfromdaltx
      • Over the course of time you ought to know who is a reliable sounding board and who is a poser!

        Never say never!

        i subscribe to the view that it is my responsibility to do my own due diligence and to make my own decisions.

        Though I'll always be open minded and listen to what others with credibility have to say, regardless of subject matter!

        I would hold the July 13 calls for a while longer if they are likely develop more value. Shares will have to work higher in price so your delta gains can out run the loss of Theta (time)!

        The fact is that your calls cost you a premium, so you theoretically (upon exercise) own BAC @ $13 plus the price per share you paid for the option rights!

        (13+xyz=13+) We only trade at $13.16 right here and now, with trading fees it is hard to see a profit yet..

        Healthy Trading!

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