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Unfortunately, profit potential is directly proportional to risk in this business. You could buy OTM options but make sure you allow the underlying enough time to move, so '60-90 days' out is recommended.

OTM option with less than 25days to expiration? You're brave!

Several stocks are on my watchlist...will initiate new positions this week. Will let SNDK do the worst it can until April expiration. May contracts are not badly affected by yesterday's downgrade by Goldman.... Will update!

I think it will take some time before OSTK bearish trend is established.....good luck!!

Thanks! I'm expecting SNDK to trade at 60+ before April 7th. That would compensate for the time.

Oh, well..tomorrow is another day! :)

Thanks so much for your enlightening contributions on this board. You are a blessing!

Update: Holding: 3 SNDK May 62.50 Call @ 2.65 25 LCAV June 50 Call @ 2.55 Added today: 8 contracts of April SNDK 55 Call @ 5.80

Yes!

Thanks for clearing the mist. I know next to nothing about technical indicators outside EMAs, RSI, MACD, Stochastic and DMI but use just MACD, DMI and EMAs. However, I am open to learning, hence my reason for the question. :)

Seems I'm catching your drift on why you asked if I look at BB. Could it be that BB is suggesting a downtrend on LCAV? Will appreciate your thoughts on this.

Does BB factor in average directional movement index in its calculation? Or put differently: what is ADX?

OK! Good question....took me down the memory lane...I don't know anything about technical indicators save the ones I use - EMA, MACD and DMI. I've not had any cause to look outside those three since 1995 October. Reason being that I started charting with pencil and chartbooks based on 2nd...

Forecasting direction is one thing, capturing enough price movement to make a difference in your account is another thing - speaking in regards to options buying. What is your price target for shorting OSTK; to what price level do you think it is likely to drop?

SNDK uptrend will be established around 58.50/59.00. Will update if/when I add to my positions.

Moderators/Admin, Can we have 'thumb up' emoticon on this board? Thanks!

A must read thread - assignment for the weekend!:)

Update: Bought yesterday 3 SNDK May 62.50 Call @ 2.65 Bought today 25 LCAV June 50 Call @ 2.55 Will add more positions. Caveat: I'm experimeting OTM options!

SNDK is my first far OTM options since 1996. I'm exploring the effects of gamma on delta, hence my reason for buying 3 contracts. Will add about 20-30 more contracts to SNDK 62.50 Call when trend reversal is established, not there yet as pointed out by cnms2. Profit target is somewhat...

Correct! I plan to hold the position forever. Actually experimenting....