need a winner fellas

P

Persdawg

You guys love these stories. Long one, short...I'm buying naked puts on ETFs only expecting a minimum 5% move down sometime before the election.
Pretty limited option knowledge here...just enough to get hurt.

I got overly excited and bot in at QQQ 117 Sept 30 puts a month ago...I barely cashed those last Friday (first otm option/actually first option trade ever...it was barely otm) after sweating them in a sideways pinball machine the entire time prior.

I work for a large investment firm...so I'm pretty limited as to what I can do, but I can trade these options w/o going through compliance. (Can't flip them the same day)

I'm only in on these trades for $5K...so if that blows up, my wife will yell at me, but she will still let me come to bed.


Any ideas which ETF(s) to move on? I have no sector or regional or cap bias.
And is picking an expiration just pretty arbitrary in this situation?
The only thing I realized is that I was about 1.5 weeks early on that initial trade, but who would have known that? Now that some volatility is finally back, I don't think it's a huge deal.

QQQ is top heavy, but moved pretty good when everyone realized that the iphone 7 sucks.
IWM, EEM?

I should add that, I recently looked at limiting my risk with a long ratio put play, but I don't have enough time, imo, to understand and implement something like that without missing a big move. And I don't mind gambling.

thx
 
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buy AAPL?
OptionGuru said:
RE: Need a winner fellas


  • AAPL at $108.12
  • Buy AAPL 109.00 September 16, 2016 calls - ask at $0.59



:)
More...


This is pretty much the opposite of what I plan on doing. And I'm not allowed to sell you that call or I would.

Need an ETF with a lot of downside to run.
 
I think the Iphone should come to a peak even thou I basically know nothing about it nor had I owe one before. It's 90% hype & brand to me!
 
So you want us to do the work for you in picking an ETF to invest in and buy puts on... because your job forbids you from doing research and investigating or lifting a finger for your own money? Or is this more of the lazy looking for financial information handouts to make a quick buck because hard work is just...too hard?

Option Guru ... here is another example of what I was talking about...
 
optioncoach said:
So you want us to do the work for you in picking an ETF to invest in and buy puts on... because your job forbids you from doing research and investigating or lifting a finger for your own money? Or is this more of the lazy looking for financial information handouts to make a quick buck because hard work is just...too hard?

Option Guru ... here is another example of what I was talking about...
More...

I was more or less asking for an opinion. nbd if you don't have one on the subject...I don't consider this trade to be investing.

But I'm always open to be coached up.
 
It's one of those things where I've been in the industry for several years...make a decent living...but found recently myself just going through the motions...up to the point of getting completely out.
Getting approved for these trades has reignited a spark.
And the fact that I've been gambling on sports for over 20 years helps contain the emotions. :)
 
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