Why do you guys care? The OP was a TROLL and he trolled you all good. "Good!" I say!
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Should I panic about my short position on Apple calls?
- Thread starter stevebearman
- Start date
Quote from newwurldmn:
Why do you guys care? The OP was a TROLL and he trolled you all good. "Good!" I say!
Its a good lesson on options trading and how some posters on here ( like ForexForex ) are totally clueless. It doesn't matter if its real or not. 90% of the posted trades on this site ARE NOT REAL.
For example, I stated the trade could lose $350,000 and recommended covering at a $13,000 loss. Lo and behold, that $350,000 loss estimate was pretty accurate.
So how would you make money on this ? Answer is pretty obvious.
Quote from ForexForex:
A quick correction. No way the 470 calls were selling for $0.26 on January 23, 2012, more like $2.60.
What is the point about posting bs "corrections" on real events that are public domain ? Bottom line is, in the past two months you've recommended the worst two trades on this site.
Quote from DeltaSpread:
Historical Quotes for AAPL Feb12 470 Call
January 23, 2012
Open = $1.44
Low = $1.44
High = $2.02
Close = $1.98
Volume = 2,088
( Should be Feb 18s ??? )
Most of the P/L numbers on this thread are wrong then. The 0.26 post say "JAN" calls ??? I understand why I overlooked this, given that JAN wasn't relevant. Typo ??? Or more jokes ???
Quote from Nine_Ender:
( Should be Feb 18s ??? )
Most of the P/L numbers on this thread are wrong then. The 0.26 post say "JAN" calls ??? I understand why I overlooked this, given that JAN wasn't relevant. Typo ??? Or more jokes ???
wtf? What typo? The OP's initial post clearly states Feb calls.
Quote from atticus:
wtf? What typo? The OP's initial post clearly states Feb calls.
I was referring to this post :
Quote from zdreg:
if u did it yesterday
Position
Short 90 Jan 470 call(s) at $0.26
Underlying stock at $420.00
Minimum applies in this case
Initial Margin
Margin requirement: $380,340.00
Proceeds from sale of short call(s): $2,340.00
Margin call (SMA debit): $378,000.00
"I thought I was playing it safe when I sold 90 Feb. 2012 Apple calls at 470 strike price"
are you in the insurance business? incredible that people think they can compete with people on the floor.
I'm not sure why "Jan" was chosen in this post, but it fooled me.
Wouldn't have changed my recommendation to exit the position though, especially because the gain/loss might have been fairly negligible at the time.
I see were the mix up is. Even though the OP stated February options zdreg must have dragged up the January weekly options that expired on Jan 27, 2012. Now those 470 calls were probably going for $0.26
Apple 515+
only 3 days left. I think you should start cutting your losses.
only 3 days left. I think you should start cutting your losses.