Short AAPL $632 I got 'em

Quote from cactiman:

Cool. I can't take the stress of Day Trading anymore, so I do mostly Credit Spreads for 6-12 month Trends, and some Single Options for Swing Trades - using Earnings Announcements as the Catalyst for the short term moves.
What about loss control? You were talking % with someone yesterday on your AAPL trade, but I couldn't follow the math.
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For this intraday timeframe, I use a tight stop. For the AAPL trade around 80 cents for instance.
 
Quote from rockefehler:

For this intraday timeframe, I use a tight stop. For the AAPL trade around 80 cents for instance.
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80 cents on a $600+ Stock that moves up and down $15 a day? That's tight what is tight. Need great timing!
I've never had much luck with Stops - too many whipsaws. So I just keep my Options net prices at a max -2% of equity, and try to get out before they hit zero!
 
Quote from rockefehler:

Why so soon? I foresee some more downward action.
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Unfortunately, you're probably right. I bailed out of my long calls today and took a nice profit. I'm going to try and get a better prices.
 
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