LABD Option Question

trader99 · Nov 14, 2017

stepandfetchit said:
1) you are trading an ill-liquid product
2) The BID/ASK values are dynamic
3) The BID/ASK do no reflect a market order.

For other ill-liquid products, I have been amazed at how my small QTY Limit order, was able to significantly alter the BID/ASK value and sizes. -- It seemed algorithmic responses to my orders modifying the BID or ASK!

OK. Makes sense. I was able to get out most of my call positions which previously didn't even have a bid! Whew. I hope I don't regret getting out now and it shoots up by Friday. I only have 1 left. I got in at average price of 0.14 and sold most of it at 0.25. Not bad.

But now it's at 0.10x0.30

spindr0 · Nov 14, 2017

trader99 said:
Just as predicted. LABD is now 5.50x5.51

You could be the next Miss Cleo

Suppose by Friday it's in the money, but there's no bid?? Then it will just expired worthless?

Exercise the calls and simultaneouly sell the stock, nabbing the ITM amount.

P.S. Now the bid is 0.10. Stock is at $5.60 now. I got in at average price of 0.14 and sold most of it at 0.25. Not bad....You guys better jump in and ride this!

Are you offering a subscription service yet???

Strangest thing! The bid is 0.10 and the ask is 0.20. Yet I was able to sell two times in batches of 5 lots at 0.25. How is that possible? Some hidden exchange I'm not away of?

Prices fluctuate. They can pop and drop briefly. And then there's the FANTEX (Fantasy Exchange) where all internet traders get the best fills :->)

trader99 · Nov 14, 2017

After I unloaded all of my call options at 0.25, it's now at $0.40

spindr0: Predict is the wrong word usage. No need for a sarcastic attitude.

I'm trying to build a track record. My trades are tracked on FundSeeder. It's doing ok. I'm trying to quantify it and build systematic/quantitative trading strategies on top of my "intuition."

spindr0 · Nov 14, 2017

trader99 said:
No need for a sarcastic attitude.

If you don't like what I write, complain to management or put me on ignore.

trader99 · Nov 14, 2017

spindr0 said:
If you don't like what I write, complain to management or put me on ignore.

I've been here on ET long enough to understand where the attitudes come from. I approach trading from an experimental and "oh, that's interesting" perspective.

Don't misunderstand me. It's not that I don't like your comments per se. It's just I like an environment to have open discussions and exploration without unnecessary sarcasm.

I admit my use of predict is a loaded term in this context. hehe.

It's all good..

P.S. Now it's 0.40X0.55 Still holding to one lot only.

spindr0 · Nov 14, 2017

trader99 said:
Don't misunderstand me. It's not that I don't like your comments per se. It's just I like an environment to have open discussions and exploration without unnecessary sarcasm.

OK, you're right. Lets's turn this into a learning moment for me. So help me out. Was teasing you about being the next Miss Cleo what got your panties in a bunch or was it teasing you about offering a option recommendation service because you made 11 cents on your posted trade? TIA.

LOL

trader99 · Nov 15, 2017

spindr0 said:
OK, you're right. Lets's turn this into a learning moment for me. So help me out. Was teasing you about being the next Miss Cleo what got your panties in a bunch or was it teasing you about offering a option recommendation service because you made 11 cents on your posted trade? TIA.

LOL

I have made 8x and 15x on my other option trades in the past. I just don't post everything. I'm not doing any investment letter.