First Solar (FSLR) gap down today after closing at 62.03 yesterday. The stock shed $5.01 (8.08%) to close at $57.01. I bought 7 Contracts of May 20 2016 62.50 Call at $3.27 a piece. The option closed today at $0.44
There's nothing much left to do about the trade, but to wait it out and hope it...
Yeah! You are correct! The stock was marked down to $56 - $58 by investors after earnings' report. It's trading at 60.45 at the moment. It was up to 60.60 a minute ago.
Will see how the position plays out tomorrow.
Sell to Close CCL July 2016 50 Call @$2.30 for a loss of $300. Commission was about $25.00
I learned something that I will never attempt again for a small account.
Next...
Interesting observation. The limit order was set at 2.50, but the brokerage firm did not fill it when the bid/ask was 2.45/2.55. Still trying to find out why they dd that.
The order was filled immediately I adjusted it to 2.60.
Yes, it is hard to profit from a short term trade with Options. But there are few options left for traders with limited cash outlay.
This venture will work, though it may take a long time.
I wonder how traders who make a living day-trading options are doing!
I read a book on Options years ago, titled ''Trade Like a Bookie'' written by Dave Caplan. The author expounded on writing options when market is range bound.
I think the market is range bound for one or two weeks. That's...
The QQQ trade was initiated too early. I noted the mistake and will avoid it in the future. I was not available to watch the markets until some hours ago, otherwise I'd have bought some QQQ Call options.