So what happened to your short? I think I pretty much described how this was going to play out to the T. I was somewhat surprised that the stock didn't try to test the open price this morning, but there was just too much buying pressure. Again, a lot of this was initiated on the option flows off the open.
Gooooooogle
- Thread starter IV_Trader
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So what happened to your short? I think I pretty much described how this was going to play out to the T. I was somewhat surprised that the stock didn't try to test the open price this morning, but there was just too much buying pressure. Again, a lot of this was initiated on the option flows off the open.
How many downgrades did we have this morning? I'm not being a smartass, I never checked. Just curious.
OK, now I am being a smartass, why didn't any of these big houses want a chunk of their profits? LOL. Where were the margin calls?
You knew this was coming Iceman! Great call!!!!!!
hajimow
if you had sold ITM (deep) puts and bought a couple deferred calls in the morning - you'd be sitting OK on GOOG. No?
My first mistake was that I did not cover after I shorted and it went down to 359 AH. But today I sold a couple of PUTs 360 for February for $3.50. I did not sell any Call. You are right about your strategy. I am still holding to my short.I did not want to have my first losing trade in 2006. I Know that I did not take the right action. It was ideal if I had covered my short at 384 BH this morning and went long but I still have my conspiracy theory which is:
I think we had 3 downgrades and two upgrades today. I belive no one (even I) did not like to see like $90 drop in GOOG because it would hurt everyone portfolio even those who don't have GOOG as it would drag the market down . Those analysts who came to support GOOG were saying they would buy GOOG at low 300 which implies they also believe GOOG is overpriced at this level and there is room for more drop. Many shorts covered today and some traders got in as they saw it a bargain. Once GOOG becomes a market performer ,it will start to drop. I believe it will happen very soon. GOOG is a great company which is overpriced. IMHO
if you had sold ITM (deep) puts and bought a couple deferred calls in the morning - you'd be sitting OK on GOOG. No?
My first mistake was that I did not cover after I shorted and it went down to 359 AH. But today I sold a couple of PUTs 360 for February for $3.50. I did not sell any Call. You are right about your strategy. I am still holding to my short.I did not want to have my first losing trade in 2006. I Know that I did not take the right action. It was ideal if I had covered my short at 384 BH this morning and went long but I still have my conspiracy theory which is:
I think we had 3 downgrades and two upgrades today. I belive no one (even I) did not like to see like $90 drop in GOOG because it would hurt everyone portfolio even those who don't have GOOG as it would drag the market down . Those analysts who came to support GOOG were saying they would buy GOOG at low 300 which implies they also believe GOOG is overpriced at this level and there is room for more drop. Many shorts covered today and some traders got in as they saw it a bargain. Once GOOG becomes a market performer ,it will start to drop. I believe it will happen very soon. GOOG is a great company which is overpriced. IMHO
OK, now I am being a smartass, why didn't any of these big houses want a chunk of their profits? LOL. Where were the margin calls?
Maverick:
I have no ego. I have to admit that you were right . At least temporarily. While I wish you were wrong !!!, and to be honest I don't not buy your option rotation theory (I am sure you don't care) as the reason that GOOG went up. Remember if GOOG drops more in the next couple of days, I will come out with my "LOL" to you.
Maverick:
I have no ego. I have to admit that you were right . At least temporarily. While I wish you were wrong !!!, and to be honest I don't not buy your option rotation theory (I am sure you don't care) as the reason that GOOG went up. Remember if GOOG drops more in the next couple of days, I will come out with my "LOL" to you.
Maverick, I am sure hajimow is not happy about his short trade. Just let him cool down a bit.
From +2,800 to -3,000 (lowest today) or even -6,000 (still holding now) on just 200 shares is quite devastating to a lot of traders. Hope hajimow covered premarket.
You are right. I am not happy but I am not mad. I will fix my trade by options. Actually GOOG was not in my list and I believed that GOOG is for gamblers and as someone said there are many other stocks that you can make money. I broke my rules and traded GOOG. But no matter what is my position on GOOG, I believed it is overvalued.
From +2,800 to -3,000 (lowest today) or even -6,000 (still holding now) on just 200 shares is quite devastating to a lot of traders. Hope hajimow covered premarket.
You are right. I am not happy but I am not mad. I will fix my trade by options. Actually GOOG was not in my list and I believed that GOOG is for gamblers and as someone said there are many other stocks that you can make money. I broke my rules and traded GOOG. But no matter what is my position on GOOG, I believed it is overvalued.