My Options Play

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Quote from Multioption:

Yes! Based on the technical outlook, this stock could fly up to 34, then 36. I'm keeping a close tab on it. There's this urge to bail out but that would violate the 7-day rule. The stock is shooting up with the possibility of over $2 gain; but then, the option expires this week.

You may bail out if you so wish. I will go the extra mile with the trade. Profit is at 2K, profit management may kick in anytime soon. I'm looking at a rise to $33/share before pulling the plug! That should give $3,200 gain. Anything short of that is like a waste of time and efforts.

It's dicey!
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Well so far not so bad, but we could have timed the entry a whole lot better....

Anyway, I'm committed to following along, so if you don't mind, just let me know when you take action.

Thanks,

- The New Guy
 
Quote from thenewguy:

Well so far not so bad, but we could have timed the entry a whole lot better....

Anyway, I'm committed to following along, so if you don't mind, just let me know when you take action.

Thanks,

- The New Guy
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Actually, I've resolved to take profits today should PEET hit $33/share. I will update if/when I bail out.
 
Quote from Multioption:

I'm out. Position closed at $3.20/contract for $4,000 profits.

I will post new trades......
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Way to kick ass, Multi!!!

I still think it was too much risk, but hell, you got the MONEY! :D

C
 
Quote from Choad:

Way to kick ass, Multi!!!

I still think it was too much risk, but hell, you got the MONEY! :D

C
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Yeah! The risk is there, but the skill is also there!

So it's skill vs risk! :)
 
Quote from Multioption:

I'm out. Position closed at $3.20/contract for $4,000 profits.

I will post new trades......
More...

Dang, I was busy with another trade. Still a decent trade tho, thanks!

- The New Guy
 
Multi, you alluded to buying front month options that were 1 strike ITM (true?). What other characteristics are you looking for? Historically low IV? (i.e. low time value = cheap)
 
Nice trade Multi"brassballs"option. You list a number of indicators and say you are pro-T/A. You find money where there is chaos and misunderstanding--the purest of trades. List some NYSE or AMEX stocks, will you. I am definitely intrigued but can't allow myself to believe that your option trades, taken according to your purpose, consist of signal failures from the indicators you list. I would bet the farm and say you definitely have constructed custom indicators that assist in finding and measuring possible trades. Nonetheless it's nice to see you post and show confidence in your trades and work. Keep it up.
 
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