Rimm

RIMM is an accident waiting to happen!

  • a' coup sur - OUI!

    Votes: 4 12.9%

  • pas question! NON!

    Votes: 3 9.7%

  • backing truck up if it breaks 130

    Votes: 3 9.7%

  • looking to short soon

    Votes: 21 67.7%
  • Total voters
    31
Quote from iceman1:

nice call bro

i was worried when i read your post >> since i had sold some front ATM calls which i just knew could f-ck me but i thought there was a chance RIMM got pinned lower not higher; in hindsight i made a bad decision like f-cking up a wet dream. true, i was short puts and long back month but no need to sell the front so near to the money. IF I had not sold them... today would have been a much better day with RIMM; instead i have to take losses on some front calls and roll out > although i had a lot of puts sold.

don't know what comes next here... might go higher !
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Similar situation here. Sold a few calls at 130 a couple days back when it was breaching 125 because I thought it would head lower prior to OE. Also had a few puts in the bag. The calls came into play to bring in extra premium from my puts that were soon to be ITM. So much for that.

I'm willing to be assigned and see what next week holds. Plan to cover prior to earnings.

Good Luck.
 
I'm entering a short position today. Right before the new year.

I may be wrong, I may be right, but I'm on record.

Double or nothing on my terrible GS short 7 weeks ago. :D
 
Quote from iceman1:

how do u know that?
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Looks like I didn't, it was at level that I knew pretty quickly I was wrong and I liked the RR there, also it was a partial hedge against an index long. I was wrong, gave back about a $1 of previous Rimm gains before covering. I will be looking at what the stock does at earnings on the 21st to see if it is worth another stab on the short side before next year. It is likely it will run up in to earnings if the market stays positive but I'm not bet anything on it. Looks like the options are pricing in about a 10% move on earnings one way or the other and it could easily happen with this stock. Might be worth selling ATM puts and calls and buying otm puts and calls at an appropriate ratio especially if it gets between 130-140 by then.
 
Quote from ByLoSellHi:

I'm entering a short position today. Right before the new year.

I may be wrong, I may be right, but I'm on record.

Double or nothing on my terrible GS short 7 weeks ago. :D
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now i AM worried? :p :D
 
Quote from Mvic:

Looks like I didn't, it was at level that I knew pretty quickly I was wrong and I liked the RR there, also it was a partial hedge against an index long. I was wrong, gave back about a $1 of previous Rimm gains before covering. I will be looking at what the stock does at earnings on the 21st to see if it is worth another stab on the short side before next year. It is likely it will run up in to earnings if the market stays positive but I'm not bet anything on it. Looks like the options are pricing in about a 10% move on earnings one way or the other and it could easily happen with this stock. Might be worth selling ATM puts and calls and buying otm puts and calls at an appropriate ratio especially if it gets between 130-140 by then.
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wouldn't it be interesting if RIMM through a party and no one came? meaning i wonder if everyone is expecting some HUGE move up or down and it's "ho hummm" post-earnings ? it's just something i've been kicking around as a scenario.
 
Quote from iceman1:

wouldn't it be interesting if RIMM through a party and no one came? meaning i wonder if everyone is expecting some HUGE move up or down and it's "ho hummm" post-earnings ? it's just something i've been kicking around as a scenario.
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i know

it's THREW a party (and i used to be in spelling contests back in H.S.); but it's really not a spellinfg faux pas i guess. :p :p

no, i don't need a vacation or anything!!!!!! DUH
 
Quote from iceman1:

i know

it's THREW a party (and i used to be in spelling contests back in H.S.); but it's really not a spellinfg faux pas i guess. :p :p

no, i don't need a vacation or anything!!!!!! DUH
More...

It is also spelling, not spellinfg.

And, "I" should be capitalized.

And, "I was" would be a better choice than "I used to be"...

:D
 
Too much optimism surrounding this stock. Not good in my opinion. Usually this precipitates a strong decline at the first hint of a warning or earnings miss. Combine that with the option related accounting issues the company is facing (which is no longer considered immaterial acording to a recent PR), and something smells fishy.

I'm holding on to my short position into earnings but will sell a few puts to provide extra cushion if there is some upside. Considered the calls as a hedge but as was pointed out earlier...they are way too expensive.

This one is a favorite of Wall Street. Up or down is anybody's guess. We'll see what happens tomorrow EOD.

Good Luck
 
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