"The premiums are very high so if things do not move your way in two weeks or so you will be in my situation"
i think u misunderstood me. i didn't enter a trade YET because it is in "chop". i trade for a living so i don't trade chop, i trade trend. u said u were already in an option position so i was merely telling u this wasn't the best time to be in one unless it was leaps or ur a daytrader. when it breaks out/down, then i will enter a trade. if it gaps up/down, even better. those are the best trades to take. buying otm calls/puts and just waiting it out isn't the best way to trade options as those are low probability trades. i rarely hold my trades longer than just a few hours/days.
"As you know the real enemy of any option speculator is time, and for me time is running out"
hence the reason i don't trade "chop". chart is bearish w/ it below 8 wk ma since may 9 but there's no movement. it's in a volatility squeeze so it is setting up but wait for the break and then trade in that direction. u'll make it back that way. gl....
hello, unless ur selling premium, u really shouldn't trade options on stocks that are in "chop". u should wait for a trend and then place ur trade. if u have leaps though, i wouldn't worry as u can sell weekly premium against ur position thereby lowering ur cost. btw, there are plenty short this stock and the last update shows that short interest has risen again but as i said, it's in "chop" so u have to wait it out or exit and use actual stock.
hey iskie. when i saw the id at first, i was like "who's this?" lol. good thing u signed ur name. i haven't talked to sg in a while either. i trade mostly spy now but if i see something moving, occasionally i'll do a quick trade. nice to hear from u. if u talk to her first, tell her i said hello. take care.
don't know if anyone still checks in here but i wanted to say hello.
a friend of mine opened a property management business and asked for my accounting expertise.
i've been busy helping him with that. i'm still trading, just not as much. also i post mostly on stocktwits now.
anyway, hope everyone is well. take care.
from a ta perspective, there's a large bear flag on the weekly chart. price is currently in the flag portion so 1 of 2 things will happen: flag will break down in which case price could retest lows or price will head back to the top of the flag area which is roughly 35ish. the post er implied move is +/- roughly 16%.