is RIG worth a call play here?
- Thread starter crazyoptiontrader
- Start date
On average it drops 14 points from its last top before making a move back up.. we are right about there.. 44+ to just above 30....
Bought Jan $29 Call @ $2.50 a piece... not a bad play for risk/reward perspective. GLTA..
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Being rewarded right now...
Mkt gave another chance in the morning today. Hope some of you took advantage.
Is this a "hold-til-bust" swing trade or do you have some sort of stop in place?
Seems like a pretty ballsy trade.
They're still paying almost 10% dividend, but if that gets cut, you might see some more downside action. Plus the damn thing is hitting 10 year lows.
Seems like a pretty ballsy trade.
They're still paying almost 10% dividend, but if that gets cut, you might see some more downside action. Plus the damn thing is hitting 10 year lows.
Given I only have 2 contracts, it doesn't matter if it busts. But as a trader it is more about ego and being right... only looking for a $ or so up move....