Lottery Ticket - FAZ Call 75 Jan 2014

eldorado1

eldorado1

Ask is 2.66..

better chances then powerball + I will have some downside protection on SPY butterfly spread.

might buy one contract today.
 
Quote from Whistlingleaf:

You could do a Jan 13 30-75 Bull Call Spread on FAZ for about the same 2.66 ~
More...

That's much more interesting then mine :)
But spreads are wide, It would cost much more; so how about:
VXX - Jan 14 30-50 bull call (1.60 mid price)
or VXX - Jan 13 30-50 bull call (1.24 mid price)
 
I bet you could get filled at the midpoint on FAZ Jan 13 - give them another nickle if you have to - it's not a trade you need to worry about slippage so much with IMO.

At end of trade losing another 5-10$ won't make big difference compared to reward of 20+ bagger.

If wrong & market doesn't crash make trade again next January for Jan 14 -
 
True, and as the trading day started I noticed the bid/ask spread got tighter so I might really go ahead and give it a shot (still hesitating cause I promised myself to never go debit)
Will go with the 30/50 strikes to reduce cost, Open interest is good too. Cheers!
 
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