Well, made money on GOOG this Oct Expiration, but don't really feel all that great about it.
On 20, Sep I went short the 350, long the 340 puts for a .80 credit.
On 10, Oct I went short the 460, long the 470 calls for a .65 credit.
On 11, Oct I went short the 390, long the 380 puts for a .85 credit.
On 13, Oct I added to the 390/380 put position for a .80 credit.
On expiration Friday, when GOOG was racing towards 460, I was tempted to let my 460/470 call position ride, but after sitting at 456 all day, in the last 1/2 hour she ran to 459 and change, so instead of being able to close the 460's at .15, I was only able to close at .30.
So how do I feel about making $2.60 on a stock that moved $70 in one month?
Stupid.
I know, I know, another strategy would have kicked MAJOR tail, that's just my luck though...
To those of you who employed a better strategy, I tip my hat to you.
I wish I was smarter and/or had more guts.
On 20, Sep I went short the 350, long the 340 puts for a .80 credit.
On 10, Oct I went short the 460, long the 470 calls for a .65 credit.
On 11, Oct I went short the 390, long the 380 puts for a .85 credit.
On 13, Oct I added to the 390/380 put position for a .80 credit.
On expiration Friday, when GOOG was racing towards 460, I was tempted to let my 460/470 call position ride, but after sitting at 456 all day, in the last 1/2 hour she ran to 459 and change, so instead of being able to close the 460's at .15, I was only able to close at .30.
So how do I feel about making $2.60 on a stock that moved $70 in one month?
Stupid.
I know, I know, another strategy would have kicked MAJOR tail, that's just my luck though...
To those of you who employed a better strategy, I tip my hat to you.
I wish I was smarter and/or had more guts.