Short facebook. On Nov 14th, it will be trading under $10

Yeah, I suppose I was wrong about this one...Of course the day is not over. My puts are worthless as of right now. Unlike you guys though, I only bought as many puts as I was willing to lose. You guys are jumping on me like I put my whole net worth into this play.
 
Quote from peilthetraveler:

Yeah, I suppose I was wrong about this one...Of course the day is not over. My puts are worthless as of right now. Unlike you guys though, I only bought as many puts as I was willing to lose. You guys are jumping on me like I put my whole net worth into this play.
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Peil the epic fade FTW. 30-odd posts on two threads and we're jumping on you. Right.
 
Quote from peilthetraveler:

Yeah, I suppose I was wrong about this one...Of course the day is not over. My puts are worthless as of right now. Unlike you guys though, I only bought as many puts as I was willing to lose. You guys are jumping on me like I put my whole net worth into this play.
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Yea, I really don't have any suggestions for you. There was another guy who bought puts yesterday, I recommend that he get out at the first sign of a bump this morning. Now that the huge rally has occurred, i'll be the first to admit i have no idea where it is going next, any further trading would just be guessing so i'm completely out of FB now.
 
Fat lady isn't singing yet. IPO was a big day of insider selling too and the stock went up to $45 at one point before settling at $38 at the end of the day. If we close near the same as opening price today, you can be sure of a big sell off tommorrow & friday.
 
Quote from peilthetraveler:

Fat lady isn't singing yet. IPO was a big day of insider selling too and the stock went up to $45 at one point before settling at $38 at the end of the day. If we close near the same as opening price today, you can be sure of a big sell off tommorrow & friday.
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rofl. You gotta be careful when you utter these recos. You might cause a trading halt. +10% on the day. FTW.
 
The sell off really was priced in, it wasn't just retail that got squeezed. Looks like my limit sell at 22.0 would have gotten filled at one point too. If I shall be allowed to place bets with paper money once again, I'll wait until monday for it to hit 20.50...
 
Quote from fareastcoast:

I'm not sure if it was MM this morning or not, but HUGE orders (we're talking hundreds of thousands of shares) were placed as FB neared $20 this morning. Once a big player steps in like that, it's over.
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Yeah, the institutions here for sure. Good job on your prediction. I was bullish too.
 
Quote from peilthetraveler:

Yeah, I suppose I was wrong about this one...Of course the day is not over. My puts are worthless as of right now. Unlike you guys though, I only bought as many puts as I was willing to lose. You guys are jumping on me like I put my whole net worth into this play.
More...

Peil, you are all right. But try to learn from this: when "everyone knows," it is usually lemmings racing toward a cliff.
 
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