"BANG" Option Trading...taking $1,000.00 to $100,000

Quote from ForexForex:

Here is one of my trades I have planned this Monday September 21, 2009 for the $1000 to $100,000 challenge.

Buy RIMM Oct 2009 85.00 call ..... I will post # of contracts and exact strike depending on Mondays price, but it will be 1 strike OTM and 2 contracts for about $1000.00. RIMM earnings Sept. 24 and RIMM has been trading in a range for a few months

rimm
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great stuff..thanks for sharing...!
 
Quote from increasenow:

"BANG" Option Trading...taking $1,000.00 to $100,000

Will deposit a FRESH $1,000.00 into my OptionsXpress account...will trade up to the whole $1,000.00 in my account...will trade once per day or...buy and than sell the next day...

will demo trade to begin with... [/QUOTE

So does this mean you have given up trading forex?
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Quote from increasenow:

"BANG" Option Trading...taking $1,000.00 to $100,000

Will deposit a FRESH $1,000.00 into my OptionsXpress account...will trade up to the whole $1,000.00 in my account...will trade once per day or...buy and than sell the next day...

will demo trade to begin with...
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I have a word of advice for you. Make the trade when it's there rather than scheduling one trade per day. It may take a couple days for things to line up. Good luck Increasenow. You're going to need it. Beware of size.

Wilt: I've seen that same thing happen. Back in the "good old days" 97-99 it was indeed possible to turn 10 K into 100K +. Also possible to have it eat your shorts. $1000 per day gain on options only was easy. Look at the price history on stocks like Qualcom, INTC, CSCO. 40 contracts and a quarter point move on the option was all it took. It took more than a thousand bucks to lay the position on though.
 
Quote from ForexForex:

Here is one of my trades I have planned this Monday September 21, 2009 for the $1000 to $100,000 challenge.

Buy RIMM Oct 2009 85.00 call ..... I will post # of contracts and exact strike depending on Mondays price, but it will be 1 strike OTM and 2 contracts for about $1000.00. RIMM earnings Sept. 24 and RIMM has been trading in a range for a few months
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My prediction is that you lose around 20% on this trade alone in around 3-5 days.
 
I agree.

Even if you have correctly called the direction of movement after the earnings announcement, the vol is likely to contract because the 'unknown' is now 'known.' I don't like holding into an earnings announcement.
 
Quote from white17:

Even if you have correctly called the direction of movement after the earnings announcement, the vol is likely to contract because the 'unknown' is now 'known.' I don't like holding into an earnings announcement.
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quite true but surprisingly, RIMM's IV hasn't increased that much over the past month. What happened to the good old days??? :)
 
Quote from white17:

They went up in smoke as I recall
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I think that the peeps in charge of the lexicon should change current vernacular to

"They went down in smoke"

:)
 
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