Option trading for a newbie

Quote from frostengine:

Ben,

Are you thinking of playing any of the earnings tomorrow? Perhaps CAG or BBY?
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Yeah, I grabbed 10 RHT April 15 calls at $1.50 and 10 BBY April 35 calls at $1.45. My total cost on both is ($2,980).


Ben
 
Quote from frostengine:

Good luck, I actually thought about the BBY for a put, but decided not to. Did buy some CAG 15 calls though..

You got me hooked on this now
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Yeah, good luck to you too. I've got one down already, looks like RHT is a winner already. I'll see if BBY can hold too.

Ben
 
I'm curious. It appears to me that your strategy is heavily based on predicting stock direction on earnings release. I presume this is mostly based on fundamental analysis? How often do you win versus losing? What is the ratio of hits versus misses?
 
Quote from frostengine:

Good luck, I actually thought about the BBY for a put, but decided not to. Did buy some CAG 15 calls though..

You got me hooked on this now
More...

Nice trade on those CAG calls Frost, easy money there right?
 
Good thing you didn't take the BBY puts and play against me again this time, I think those BBY puts were crushed. Only reason I'd say that is because I sold my 10 calls at $3.90 and also closed out RHT calls at $2.85. My gains on these trades are $2,420 and $1,320. My gains are now at $43,347.25. These are some great times for trading.

Ben
 
Ben,

Yea the CAG calls worked out ok.. but nothing compared to how well the bby or rht calls would have worked.. but its free money so I can't complain...

I am very lucky I didn't take those BBY puts... great job
 
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