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Hi spindr0, Yes I do love DRYS :)

My pleasure, pretty interesting.

Hi Rick, Yes DRYS has recently put contracts in for oil tankers and the ceo has been getting hit for moving out of his realm. People either feel he is a genius or a nut Drys / Cardiff web site... "Our strategy of sector diversification (i.e. drybulk and tanker vessels) achieves...

Hi DMO, I see your side, and agree to an extent. I think the big seller for me though is the time value. With over a year till exp if it moves and still has a lot of time I could see for a bigger profit. Bben1006 thanks for your thoughts. The thing I don't like about your strategy in...

Three reasons 1. If the stock never goes up and it don't finish below 5, then it was basically a free roll of the rice. 2. I can get more leverage with options, in addition if if were to get in the money with much more time value left I could sell for more then if I just flat out owned...

Hi all :) I am looking at a DRYS Jan 2011 play. Here are my background thoughts. Right now I feel the value of DRYS is an unknown. If oil collapses the drill ships that are being built could have negative value, but the CEO has preferred shares so he has skin in the game. If oil goes...

Thanks spindr0 :) So in general you should pick a direction or range and go with it by picking a corresponding strategy. Rather then being all over the place and trying to do too much.

My thought process was that I would have the shares I own right now be called off for about 1$ profit, and then I would exercise the 7 calls I bought and be about back where I am now, but 1$ up. If it doesn't break 8 then I just keep what I have now and the premium cut the cost of the call.

Thanks for the reply TheoHornsby :) Yes I am long and therefore, it wouldn't be the end of the day if I had to own more and I could if needed roll the puts down out to Dec if that looked good. The only reason I was thinking the call spread was that looking at the charts the next stop up...

Hi all :) Drys earnings are coming around the corner and I have two ideas and are looking for suggestions. First some background. I am long drys and are in at a little over 7. Looking at the charts is seems that ~5.40 has been the support for the last 3 months or so and it tried to break...

Hi Tom, Very nice information thank you! I will look into the concepts you mentioned. Thanks, droid

Hi Tom1am, Thanks for the reply! Sorry for my ignorance in advance, but what is T/A? So it looked like today I could of bought back the Oct 7s for .85 and then sold the Nov 6s for about .55. If I am forced to buy back the stock at 6 in Nov I don't feel I would be in horrible shape...

Ah nice! Thanks spindr0. That is what I am at the time mildly bullish.

Hi spindr0 you mentioned earlier it was a good idea to look into a covered call spread is that the same as a bull call spread? Thanks, droid

Thanks for the ideas spindr0! I will check in to that covered call spread and the roll down out to the Nov 6s. Thanks, droid

Thanks for the replies. I should of mentioned that I am long DRYS and was willing to buy when I initially sold the puts. So I have answered my own question. Yes I would rather buy at 6$ then 6.40. Thanks, droid

Hi all :) I sold 70 DRYS Oct $7.00 puts for .60. They are now .90. The Oct $6 puts are now .30. Is it a good idea to buy back the $7 puts and turn around and sell 70 of the $6 puts basically breaking even. If it is put to me I get to buy at $6 instead of $6.40. Thanks, droid

Thanks for the replies everyone :)

Hi dagnyt, Thanks for your reply. Yes, I was talking about buying. I am relatively new to options, only about 6months. Have been using them to hedge long positions and doing ok. Although the news is out, I still think things are going to be shaky for BAC, C and the others that need to...

Hi all, With the financials going crazy lately and never sure from day to day which way they are going to head what do you guys think about have some straddle positions? Thanks, droid17