Rhythm--MRVL options doing well this morning. Good call there. XLNX next up.

Hope a few can get going this week like BFHJ and ISGM. Also, Would love to see MRVL and XLNX gap up. I don't have any new ones on radar yet but my favorite is still UWRL at .001 or less. Gave up cheapies there today at .0009. Good luck with the wedding Rhythm!!

Me too:)

Rhythm--you buy any options on XLNX??

Thanks a ton Auroradude-thought ought to keep me busy.

Hope so!!

Thanks, appreciate it. Earning on UWRL this Thursday. Hopefully CE dropped shortly thereafter to lead up to merger. Lots of good things going on not to mention the chart is nice. Hope MRVL goes up tomorrow!!

Wow, looks like late this week into early next week this will finally take off. Financials due on Oct. 28 (this Thursday). I would think that the Ce should be dropped shortly thereafter. I have been waiting for about 3 weeks so no hurry but it sure looks like all the pieces to the puzzle are being put into place.
An announcement about a merger contract during any of this time would be explosive!!

Rhythm, when I go to sell I just choose "sell to close" correct. Sell to open would be switching to s short position right?

UWRL

Hey Rhythm, hope you are getting all your wedding stuff taken care of. I haven't found a place for the 20, 50 90 day HV avg but Etrade does show me the black scholes and the binomiaol calculations on each contract. If the price is below those then it is figured to be a good price. Above it and you are overpaying. Now I need to find some stocks to watch. On the penny level, I still think UWRL is going to be a monster when it moves. GLTA

I picked up 2 million at .001 Friday. 12 million total now

Thanks Rhythm. I understand and wonder where we can go to find the 20 day historical volatility on a stock. Clearly, it is preferable to buy an option with an implied volatility less than the 20 day historical. It would be nice to be able to check that out before buying.

Hey Rhythm- I got a few contracts of MRVL strike 19 price .18. Can you tell me what your take on implied volatility is. Do you have a range you look for or are comfortable with? This will be fun to watch next week. Thanks for your help along the way.

What strike price would you recommend on MRVL? Thanks in advance

Rhythm--last question today. Example--LOW is trading at 22.00 right now. Say I buy call option contract at 24.00 If the trading price of LOW goes to 22.50 that would make that contract more valuable clearly. One question is you can sell the contract before it hits the strike price correct. Thus I could sell the 24.00 contract even though the stock is trading at 22.50 for example. Just want to make sure of that.

Rhythm--I got my level 2 options account set up on etrade. So, let me know when you get your next option pick. I wnat to try it on a small scale first. Thanks

Auroradude--Quick question. I need to clarify the difference between covered and uncovered calls. I believe covered are the safer bet as far as possible loss. Isn't just the premium paid for the covered option the only money at risk? With uncovered calls can't the investor be forced to actually buy the actual shares that the options are held on? Thus shouldn't I just sign up to trade covered calls so I only risk my premium.

I trade through E-trade so I imagine they have what I need. I will have to call them because the only choices I see are what I posted. Clearly I need uncovered not covered. If anyone uses E-trade for option trading and can let me know what account choice I need to choose let me know. Thanks

Thanks for your continued help Rhythm

Thanks I will definitely try the practice account. I figured I only needed uncovered calls/puts.

Thanks Aurora. One question-In my application on etrade is asks what level of option trading to apply for.

1. Write covered calls
2. Write covered calls, purchases
3. Write covered calls, purchases, spreads, and uncovered puts

If I just want to be able to buy calls and puts what level do I need and also, what is the difference between 1 and 2

Sorry for all the questions but I am just trying to learn the basics first.

Rhythm , ignore that last post. I have that understood. Only weird thing is that for example walmart is trading at 53.16 now and youcan buy NOV 20 calls at 47.50. I'm guessing a buyer of that option has a lot of confidence in the price continueing to go up??? I thought if you thought the price was going to drop buy puts and buy calls if you think the price of a stock is going up. Hmmm

Rhythm, I have not traded options yet. I understand what a put and a call is. What I don't know is the cost. For example if you had five thousand to invest in one transaction, how many shares would you have options on? Are you just covering the spread so if a stock is 20 bucks and you are buying a call at 20.25, you pay ..25 cents per share for the call option? You can sell your option at any time right? If you could put an example of a transaction that would make it very clear. Thanks

I use etrade. Having trouble getting marketcaster to pop up. Will figure it out tomorrow. Thanks

Where can I get free Level II quotes?

Great board guys. I would love to see TI do a chart on UWRL. Thanks

it sure looks like it should go anytime. As far as the pot plays--are you solely interested in grnh and cbis or do you like others. I liked sfio yesterday but too big of a pop today for me to jump on. Good luck Thanks

That would be nice. I am still holding half my shares. Seems to have bottomed out at least. What makes you believe it is go time? Is it the Golden Cross?? Thanks and once again good call on the pot stocks.

My 10 million shares aren't going anywhere anytime soon. Patience will pay off. Just have to wait for ce drop and merger updates. Must remember that this really hasn't been a long wait at all.

My thoughts exactly. Thanks for sharing.

So that is really meaningless I guess. Thanks for the info-much appreciated. I can't see a pullback for a while considering the vote is two weeks away.

Anyone have the level two to show what's up with the afterhours trade at .029?

Very nice Phish on GRNH!! I picked that and CBIS up this morning. Do you think they will continue to rise until election day in two Weeks?? Thanks again

UWRL No-brainer here

Agree UWRL. Accumulation curve outstanding golden cross very close.

UWRL Golden Cross very near. Accumulation high and MACD about to cross for the first time in five months!!

The Chart is outstanding. The accumulation curve is high which shows people are hanging on to their shares. Strong support at .001. Macd positive as well. .002's in very near future. If the ce news comes out then it will blow through the .002's and land around .0035 IMO. Yes it would be great if it hit .008 but realistically .0035 is a pretty fair short-term target.

Nice call Rhythm... Sold half my ANO today. Thanks for that one as well. I din't get any ABK but I do have the VLNC you picked. Love that chart!! Thanks again for all your help. BTW--what are your thoughts on HLNT?

Golden Cross!!!! Now it will rock IMO That will set of alot of alerts on scans.

I received the same e-mail. Can't hurt that's for sure!!