My gamble trade

CaptainObvious · Nov 6, 2006

shorted the qqqxp Dec. put @ .60
Don't know crap about option pricing. Rarely trade them. Just playing a hunch that the market blows off later this week. We'll see if the casino trade pays off.

uncleTom · Nov 6, 2006

You sold a put and you think the market is going to "blow off". I hope "blow off" does not mean decrease in price.

CaptainObvious · Nov 6, 2006

My mistake in terminology. Bought a dec. put. Was just testing ya'

El OchoCinco · Nov 6, 2006

Not so obvious after all eh.....

CaptainObvious · Nov 6, 2006

Quote from optioncoach:

Not so obvious after all eh.....

Touche' I have a feeling I'm going to never live this down.:eek:

forex-forex · Nov 6, 2006

Buying puts at market highs is almost a sure way to lose money. You might get lucky, but generally you will lose money.

RCMLLC · Nov 6, 2006

FWIW the man said his gamble trade

rallymode · Nov 6, 2006

Quote from forex-forex:

Buying puts at market highs is almost a sure way to lose money. You might get lucky, but generally you will lose money.

You obviously have no clue about options. I can find much worse bets than getting long gamma and vega at "market tops". Please stay in forex land.

forex-forex · Nov 6, 2006

Quote from rallymode:

You obviously have no clue about options. I can find much worse bets than getting long gamma and vega at "market tops". Please stay in forex land.

I know from experience that buying puts at this time is not a good idea. Might get lucky on this trade but if you always try and time the "market top" with puts you will lose money. QQQQ puts are very tempting because they are so cheap.

Bitstream · Nov 6, 2006

Quote from CaptainObvious:

shorted the qqqxp Dec. put @ .60
Don't know crap about option pricing. Rarely trade them. Just playing a hunch that the market blows off later this week. We'll see if the casino trade pays off.

ah shit, u bot puts.

and i thot we topped.