GE Put Options

Quote from Vinny1:

I sold 2,000 put contracts today of the GE March $5 strike at $25/contract for a total of $50,000 in premium collected. I just wanted to get some opinons on if you guys think GE will go below $5 by March 20th.
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I have no idea if GE is going to move through the strike price, but I do know this: the risk/reward is terrible, although I assume you already know that.

What are you going to do if the Obama administration announces that they have nationalized all the troubled banks over this weekend?

Mark
 
Quote from Vinny1:

I sold 2,000 put contracts today of the GE March $5 strike at $25/contract for a total of $50,000 in premium collected. I just wanted to get some opinons on if you guys think GE will go below $5 by March 20th.
More...


LOL. This is one for the keeper file.

You sold 2,000 contracts and come to ET looking for advice.

:eek:
 
Quote from Vinny1:

I sold 2,000 put contracts today of the GE March $5 strike at $25/contract for a total of $50,000 in premium collected. I just wanted to get some opinons on if you guys think GE will go below $5 by March 20th.
More...

Are these naked? If so, I salute your confidence and the sizes of your balls, as well as your account! :D
 
Quote from Vinny1:

I sold 2,000 put contracts today of the GE March $5 strike at $25/contract for a total of $50,000 in premium collected. I just wanted to get some opinons on if you guys think GE will go below $5 by March 20th.
More...

You are looking for trouble. If you want to sell premium do it on an index stock after a selloff. You will not be exposed to one single stock.

What size is your account by the way? I could have helped you make money without the risk you exposed yourself to.
 
Quote from Vinny1:

I'm hoping that over the next 3 weeks, it stays above $5/share, otherwise, it will turn into a long term investment for me.
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That's 200,000 shares,not 2,000 shares. You do understand that I assume.

Do you always keep a spare million dollars in your account, just in case you need it for a long-term investment?

Mark
 
Quote from Vinny1:

I sold 2,000 put contracts today of the GE March $5 strike at $25/contract for a total of $50,000 in premium collected. I just wanted to get some opinons on if you guys think GE will go below $5 by March 20th.
More...

If GE is over $5 on Mar. 20th, you're the luckiest man alive.

This isn't even like gambling, it's more like choosing to get in front of a firing squad, and praying for a miss.

Kiss your a*s goodbye.
 
Quote from Vinny1:

I sold 2,000 put contracts today of the GE March $5 strike at $25/contract for a total of $50,000 in premium collected. I just wanted to get some opinons on if you guys think GE will go below $5 by March 20th.
More...

So you are the one that sold me $5 put ? Thanks ! :D
 
Quote from riskfreetrading:

I could have helped you make money without the risk you exposed yourself to.
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No one asked for your help, nor was it needed.

This guy needs a lesson on risk management, not how to make money.

Mark
 
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