Later in the afternoon could have sold them for over $2.50. Ouch. Would have been nice to turn $70 into $1250 in less than a day.
Holding a few long shot calls that have no chance.
Contrarian traders who bought against your spam advice have done well. VXX looks to be headed higher for now. I am holding long until we get past the FED decision and market reaction.
I bought some VXX calls. VXX has been moving steadily higher the last few days, even when the market is up. Any big move lower and VXX will be up big. Hopefully GPRO keeps surging tomorrow.
Whenever former high fliers get beaten down severely, and then more after that, buying calls is worth a look. I bought a few FEYE calls for .90 and sold for 1.50, but missed opportunities I considered in AMBA and CYBR, both up around $4 today. VXX, a volatility measure that usually crashes on good market days like this, is only off slightly. Calls for next week during FED watch are inexpensive and worth a look IMO.
Thanks. Yes we do. But that one was obvious had I not been thinking just about my current position and reducing losses. If you look for those situations, they occasionally come along.
There was no reason to believe the stock would hold up at $61 given the reduced guidance. The range of the $58 puts expiring today has been .20 to $4.00. I doubt you could have bought many for .20, but I'm sure you could have for a little more when the stock was near its peaks. Would have been a high percentage risk given the illogical move higher. Could have made 10x you money in a few hours. Instead I sold some $64 covered calls for around $1.50 expiring Dec 18. I seriously doubt we will see $64 that soon.
Not sure why I held onto this stock, but long term I like it. Short term it looked awful and I was nuts to hold it.
"flying off the shelves"--that's a good one joel! As much negative press as the stock has had, I expect a nice move headed into the holidays. Smart shorts will take their profits and move on rather than risk GPRO having a better holiday season than many expect.
Hopefully AMBA pulls GPRO up with good forward guidance. Either way, I expect GPRO to go higher going into the Christmas season. Mid 20's seems possible.
At the moment I'm glad I added just before it started moving, but the sudden volume increase suggests news. Anyone see anything other than the article about whether to buy?
Finding someone with a lesser known brand in the industry to make negative comments and push the price down further. Funny how they select a pic in which he is wearing hardware that covers his face. Drones will be a popular item during the Christmas season. I'm buying here.
This is a response to the Paris part of your post. Anyone here know how hard it would be to use facial recognition when searching for criminals/terrorists. They have a pic of the supposed mastermind of the operation, and unfortunately police supposedly at one point let him go because they didn't recognize him. Can smartphones use facial recognition with the right software? Would be great when law enforcement officers are looking for someone if they could just aim a smartphone at a suspect and match image to pics in database.
Judging from its recent performance lately, I think it may suffer from Lo T. Sorry, bad joke. I'm long and hopeful we get back to at least mid 50's soon.
Tomorrow looks ugly, and I don't think it will be a one day event. At some point I want to buy some VXX puts but think it may take a few days before topping out.
Makes no sense. Maybe the ETF wants this info to limited, as the relentless downward long term trajectory looks very ugly to anyone who might buy. That's why normally it is a great short, because it eventually goes to zero. As we all know, it can run up quickly, but it can fall even more quickly, as there is no intrinsic value to hold it up. Once volatility calms for a few days VXX can fall like a rock, so if you feel comfortable at some point that we are near the end of the current selloff, it is a great short. Some brokerage firms don't allow trading in VXX at all, ostensibly because many people lose their money and they feel they need to protect the naive investor.
I hate that when people disappear after predictions that don't work out as they planned. Sold my long and profitable VXX position around $19 (ouch) and am watching for an opportunity to buy a few puts. I'm expecting next week to continue sloppy and then provide an opportunity to buy VXX puts. Because they will be very expensive, I plan to buy longer dated in the money puts, probably several months out. Have done this several times and it has always worked, but I may look for an overvalued stock as a hedge in case the market continues pulling back.
Yesterday morning before the market got ugly, I thought about selling my losing put position for .20 per contract. I had bought them for .90 about a week ago. But then I hesitated, thinking at that price I should probably be buying instead of selling, as this market looks toppy. But I didn't. And today when NFLX started falling, I sold the last of my puts for around .60. Last trade of the day was $1.41. If NFLX continues dropping Monday, those same .20 puts that were available yesterday morning could easily be worth $3-$4. Also sold out my profitable VXX position far too early. There is always the crazy possibility that the market will begin anticipating inaction from the FED after the awful retail numbers and have another one of those counterintuitive rallies, so I didn't have the guts to hang in there longer.