Option Millionaires

[jimmybob]

SINA - The trade of the day for me.

Scanned the market this morning for some plays:

Charts from this post on: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70704449

and here: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70704713

Saw SINA getting some huge PM volume and was only up a few %. Checked chart and liked the oversold conditions. Know history repeats itself and figure it runs like a banshee. Pop my order in before open, doing quick math in my head. $55 calls should be .35 to .40 based on the open.

Put order in and filled right at open. Cursed myself at first as SINA goes to 50.40... then explodes and im happy. Waited a few minutes and figured id hedge my position... well not really. Meaning i would get some OTM calls to allow myself to locking the $55 calls with zero regret. So i grabbed the $60 calls @ .08. So pretty much $560 played in the morning on SINA. Little more then i would like to risk on weeklies, but not too bad.

Normally i would lock in the $55s at the double point but held them, as i think SINA will go $60 by friday.

Anyway, great feeling to know i was the one to buy the $55 and $60 calls at the low of the day. $55 calls hit a HOD of 1.65, a 400% move. The $60s hit .29 from the .08 entry.. a 350%+ move.

SINA 55ss

SINA SINA 12Jan13 C 55.00 01/10/2012 09:30 AM 10 Buy to Open
$0.40
Executed



SINA 60s

SINA SINA 12Jan13 C 60.00 01/10/2012 09:33 AM 20 Buy to Open
$0.08
Executed




Had some nice trades on GMCR today, as well as holding DECK and PRX and some others..


Hope that helps folks get a hang of the pre-open routine... I actually broke one of my trading rules.. never buy an option in the first 15 minutes...

But worked out this time ~ ~ :))))

Rock N Roll!!