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fogg
I understand but look at the options for you options....
It's all about maximizing and figuring your risk tolerance...
If you really think it is going there and you hold on and the stock goes to $24 you will sell your options at between $14 and $15. That will represent about 4.5x your investment (not bad!) but if you really think it's going down there and you sell your calls now and buy into the Mar 22 $27/$24PS (you can get in around .40)and you max out - you will have made over 11.5x your original investment. You can do variations on that but that is what looked good to me based upon YOUR feelng on the stock.
So Fogg what are your thoughts now? I will tell you what I would do based upon where you think it's going to go.
Remember 2 things.. ER's are due 2-27-14 and the sales were horrible. The street expects a BIG LOSS this quarter.
Think about this... I wouldn't be surprised if they pre-announced to get the debacle out of the way. Also remember that they now will probably announce (IMO) that they will be going to a membership only model in their stores and that would probably mean they will shutter some stores.
Also remember that they do have a lot of value in their components.... Their real estate has tons of value and their private label brands Kenmore and Craftsman have tons of value.
My feeling is that they will pre-announce, take it down one more time to flush it and then it will stabilize and go up a little.
So what I would do is sell your spread now and take your profit, then jump into the Feb $35.42/$34 and try to get in around .50 - .55. That will give you a max 2.5 bagger on top of the 60% gain you have now.
Dsimpson
It's about getting into the spread right. I don't usually buy a spread, I get into one leg of the trade first and then the other leg later on to try and reduce the cost of the spread.
If I see a play I like I will map out the trade I want to do. Then I decide whether or not I think the trade is going to go for or against me at that exact time. For instance if AAPL is trading at $540 and I think it's going to go down to $535 -$537 but I want to get into a Call spread because after the pullback I think it goes a lot higher I will sell the short the call first and wait 'til it moves down to my target before buying the long call. The price I now buy the call at will be cheaper as will the call I shorted. So let's say the price of the spread I wanted to buy would have cost me $2.50 when I decided to play (long call was $5.50 and the short call was $3.00) by selling the short call at $3 and waiting til AAPL went down $3.50-$4.50 you were able to buy the long call at $4.50 the spread cost you $1.50 instead of $2.50.
So Assume that the spread was $555/$570 (the long call is $555 and the short Call is $5.70) that means your max gain $15 (the difference between the strikes). That means you risked $1.50 to make a max gain of $15. Hence a 10 bagger.
Sometimes a spread you can buy together (thereby saving some commission) can net you a 10 or 15 bagger if not more but that is a trade that is very hard to come by.
You don't want to give away too much premium. Watch it carefully.
fogg
don't get me wrong. Any time you make money it is a good trade. Hopefully it will go to $30 for you and it will be worth $10 and you'll triple up. I was trying to give you a little insight into how you could have done "better" (IMO of course). Of course we never know what will happen. We study, we chart, we guestimate and we "feel" BUT.... we never "KNOW". As long as we we do things for a reason and not just throw darts we have a better chance. The play will probably yield you a 50% gain. That's not bad for 20 hours, is it? If you could make 50% on your money every day you'd be a rich man.
WELL DONE.
Foggdogg
two things I would have done differently which would have increased the gains you make on this. As it stands now, if it trades tomorrow at $37 the option that closed at about $3.10 will be worth somewhere around $4.50-$4.75 (estimating what the drop in volatility will be). Even if there is no drop (which there probably will be) it won't trade higher than $5.30 - $5.50.
Now... what I wouldn't have done is gone out so far on this. The volatility is so high that a move like this on that stock is commonplace so you are paying for 2 1/2 months of premium that wasn't necessary. That is a move that you expect to happen within one month. The fact that it had a very large move and is now trading below the strike kills the premium even though you still have time. The lower it goes past the strike the more you will lose in premium.
If you would have played the Feb 38's then you would have more than a double but I still would have rather played a Put Spread.
The first thing I do is decide where I think the stock will go. I use that as my starting point. So, if I think that SHLD will be $38 by Feb OPEX that is where I will short the Puts. I will then work backwards to see which spread will yield me the biggest max gain and then play from there.
In this case i could have bought the Feb $39/$38 PS for about .33. at .33 with a max gain gain of $1 (the difference between $39 and $38) that would be a triple.
Trading straight options vs spreads is different. When you trade spreads you want the stock to go to the short end of the spread to realize max gain. When trading straight options you want it to surpass the strike for max gains.
In this case, if you bt the $38P I'll assume you think it is going to $36 or $35. With that in mind what I would have done is bt a $37/$35.42PS - it would have cost me .40 to make $1.60 for a quadruple. The thing about spreads is that it protects you. If the stock moves against you as your long options weakens so does your short option.
Sonny-888
Send me a pm with your cell and I'll explain it to you
All of my current positions.....
XOM Jan 18 $97.50/$95 PS @ .08
TWTR Jan 18 $65/$60 PS @ .425 - Sold @ $4.30 - 10+ Bagger
NFLX Jan 24 $345/$335 PS @ .85 - Sold @ $5.32 - 6+ Bagger
LNKD Jan 24 $200P Avg to $2.385 - and I will sell short the $195P if the stock weakens to create PS
AAPL Jan 31 $570C Avg to $7.615 But first I created $570/$580CS @ $1.10. Then I avg'd down the balance to $7.615. I will also buy higher strike straight Calls in case it spikes high on ER's. I will also buy Jan 18 and/or Jan 24 Calls/Spreads to play the China mobile release of the iphone next Friday
SPY Puts....
Jan 10 $182/$181PS @ .075 - sold 1/3 @ .37
Jan 31 $181.50/$181PS @ .17
Jan 31 $180/$178.50PS @ .16
USO Puts
Jan 18 $33P @ .165 sold 1/2 @ .45
Jan 18 $33.50P @ .28 sold 1/2 @ .76
Jan 18 $34P @ .335 sold 1/2 @ $1.085
Feb 22 $30P @ .12
Feb 22 $31P @ .1775
Feb 22 $32P @ .26
GLD Calls
Jan 18 $122C avg to .255
Jan 18 $125C @ .2725 - DEAD
Jan 18 $130C @ .078 - DEAD
X Jan 18 $28P @ .20 - Then sold short $27P @ .20 to create a $28/$27PS at 0. I have a bunch of these. I can't lose and I can make an infinity bagger!
CMG Jan 24 $520/$510PS @ $1.915 (i avg'd down once)
SLV Jan 24 $19.50C @ .16 - Will sell $20C and $20.50C against to create a spread
SLV Jan 31 $20.50C @ .08 - Straight Calls
What's Next For Me?
I will be a seller of Banks (GS, WFC, BAC - maybe XLF) and I will be a buyer of SLV on weakness (looking for $18.50-$18.75. It could possibly go to $18.25 but I don't think so. I love SLV and I will buy closer dated lower strike calls and further out dated higher strike calls
I'm gonna be a seller of CMG, X and MA and V.
MA and V I will either sell right before ER's (maybe short calls on high premium) or right after er's (if er's are good and it spikes).
I'm also looking at WYNN - probably a seller.
But for those who think I'm ONLY a Bear - remember, I like AAPL, GLD, SLV and oh yeah.....
I'm a buyer of SODA Calls....
All of my current positions.....
XOM Jan 18 $97.50/$95 PS @ .08
TWTR Jan 18 $65/$60 PS @ .425
NFLX Jan 24 $345/$335 PS @ .85
LNKD Jan 24 $200P @ $3.35 - and I will sell short the $195P as the stock weakens to create PS
AAPL Jan 31 $570C @ $8.05 - I will buy more on any weakness. I will then sell short $580 or $590C to create spread as the stock moves higher. I will also buy higher strike straight Calls in case it spikes high on ER's. I will also buy Jan 18 and/or Jan 24 Calls/Spreads to play the China mobile release of the iphone next Friday
SPY Puts....
Jan 10 $182/$181PS @ .075 - already sold 1/3 @ .37
Jan 31 $181.50/$181PS @ .17
Jan 31 $180/$178.50PS @ .16
USO Puts
Jan 18 $33P @ .165
Jan 18 $33.50P @ .28
Jan 18 $34P @ .335
Feb 22 $30P @ .12
Feb 22 $31P @ .1775
Feb 22 $32P @ .26
GLD Calls
Jan 18 $122C @ .3825
Jan 18 $125C @ .2725 - DEAD
Jan 18 $130C @ .078 - DEAD
Coach - I'm in the AAPL Jan 31 $570C @ $8.05 and will by more on any weakness. I will then sell the $580C or $590C short to create a spread. I will do this only after it moves up to create my spread at the cheapest possible price.
I will probabaly also buy straight Calls at $600 or higher in case it spikes hard on er's. Another event to look forward to is next Friday's China Mobile release of the iphone. I will buy some calls for Jan 18 or Jan 24 OPEX as well
LNKD - I bt Jan 24 $200P @ $3.35 with the plan to sell the $195P short to create my spread. I will wait for a pullback in the stock to sell the short puts higher to lower the cost of my spread
Thx Vish. Happy New Year.
I'm in the Jan31 $570 Calls @ $8.05.
AAPL - Out at $2.58 - I will now see if it weakens some more and then jump into the Jan 31's. Lost a dime no biggie
Dam!
Thx Vish - my etrade site shows 1-23. I will sell these and jump into the Jan 31's - I'll probably wait a little on the 31's to see if premium will erode a bit. I was wondering why it was so cheap.
Hello All,
Chat is down so I have a minute to post here...
AAPL I have purchased Jan 24 $570 Calls @ $2.68 avg with the goal of it bouncing here and then I will either sell short the $580 or $590C to create a spread. ER's are on 1-23-14 and I anticipate it going up into er's and then with a beat spiking to near $595-$600. I might also buy some straight calls in case it gaps up hard to $620 after er's - I will buy more of the $570 Calls on any weakness.
XOM - I avg's down on my Jan 18 $97.50/$95PS to .08
TWTR - still holding my Jan 18 $65/$60PS as I think we see it under $60 this week - my cost is .425
NFLX - Loving my Jan 24 $345/$335PS I bought yesterday .85 - I am holding as I think we will see $325-$330 soon and I have time
My SPY Puts not working today but I was up so much that I still have between 60% and 100% gains on my 3 spreads. One spread expires this week and the 2 others expire Jan 31. I will use any strength in market to avg down on Put Spread if it gets to the point where I am losing in the trade.Sold some yesterday on this week OPEX for a 5 bagger
GLD Jan 18 $122C - I avg'd down to .3825
I'm a loser on the Jan 18 $125 and $130 Calls (unless we really spike)
USO - I have Jan 18 $34, $33.50 and $33 Puts and I'm up nicely on all of them and I also have Feb $32, $31 & $30 and I'm up small on them
LNKD - I will be jumping into the $200/$195 PS shortly. I will jump into the $200 long Puts first and as the stock goes down I will then sell the $195P short to create a spread
BTW - if you think i'm posting after the fact all my trades (except today's) have been posted on OM Chat - you can verify with members like JB or UPB.
penny
resend me your email. i lost it.
Penny
I may have a chance over the weekend but if not then maybe at night sometime. Send me your email and I'll contact you.
Hello Penny
Sorry I didn't get back to you sooner but I didn't see this post. The only way you can follow me is if you go to the OM chat and follow my posts. I am usually too busy to post here during the day and I also am on chat only sporadically.
I will not do a ditto trade as it goes against my nature. I am not a CFP and I don't profess to have a long term strategy. I do not get paid to advise people and thus I would not look to put people into trades. It is my opinion that no one should follow anyone blindly. You can use their trades and/or advise as a starting point for entering a trade. What I mean by that is to see what others are doing and then do your own DD. Check the charts, check the news, see when events such as er's are due to be released, etc. I am against anyone who follows others blindly without doing their own homework. If you are paying someone to manage your money that is a different story, but as a trader if you can't formulate your own opinion you shouldn't trade the stock/option. If you can't find any opportunities yourself or you can't seem to formulate an opinion on anything, you shouldn't be trading. There are many here who want to know what JB and UPB and some others are trading and that's ok. They will usually give you their reasons for doing the trade. Just do some DD first. There are also some who want to do ditto trades with them as well. That is your right and as you are paying for the services of the chat and that is one of their selling points, that is ok as well.
I trade a little differently than others and I have a high tolerance for risk. I usually go into trades with the knowledge and expectation that my first, second and even 3rd dips into the play will be early. I am ok with this as it is my strategy. I decide where I think are good entry points and I will usually enter the trade slightly before it gets to my target (in case it turns before reaching my target). I also will play larger on my last dip to really get my avg down. It wouldn't be fair to others to have them dip into a play multiple times to get the really big benefit of the trade and some may only want to buy one option so they wouldn't get the benefit of avg'ing. Yes there are many times I will catch it right on the first dip, or I have a conviction that the option should be bought right then and there but that is not always the case.
My advise to you is, if you want to follow my trades, is to take out a free trial on OM chat and watch all the players. There are some VERY good traders with different strategies there. Watch my posts and do your DD.
I entered a trade last night that is something i love and is still where I bought it....
AAPL Dec 21 $555/$575 Call Spread. I entered the trade at $2.02
This will give me the chance to make a 10 bagger if it reaches $575 by OPEX. If you don't understand spreads let me know and I will get back to you as soon as I can. This is a bet that AAPL will get to $575 by Dec 21
Of course. Just too busy at work and home to post here. You can find me on OM chat sometimes during the day
Just had one of my best weeks in a long time. Had many Puts that I killed it on and then reversed right and bought lots of calls and VXX Puts. I still have VXX puts left for this week OPEX and I still have some Calls left over as well.
These were my positions coming into last week, see my post 185604:
[color=blue]My Positions for the Week and Beyond....
SLV Oct 11 $20/$19.50 PS @ .05 - expired
UNG Nov $20/$21CS @ .10 - sold small - Locked in a nice profit so far
UNG Oct 19 $19C @ .10 - killed it for about a 6 or 7 bagger - still holding small
SPY $168.50WP @ $1.13 - made about a 3.5 bagger
SPY $168WP @ .96 - made about a 4 or 5 bagger
SPY $167.50WP @ .83 - made about a 4 or 5 bagger
SPY $167WP @ .70 - made about a 4 or 5 bagger
SPY $166.50WP @ .58 - made about a 3.5 bagger
SPY $165WP @ .35- made about a 3 bagger
MA Oct 11 $665/$650PS @ $2.43 - made about a 7 bagger
MA Oct 19 $630/$610PS @ .786 - made about a 3 bagger
MA Oct 19 $620/$600PS @ .506 - made about a 2 bagger
V Oct 19 $175/$160PS @ .24[/color] - made about a 4.5 bagger
SLV the only ones I didn't kill it on. I then reversed and jumped into the following:
AAPL $485 WC - i'm out with a multi bagger
VXX $17P - i'm out - with multi bagger
VXX $16.50P - i'm out - with multi bagger
VXX Oct 19 $16P - sold some - Locked in more than a double
VXX Oct 19 $15P - sold some - Locked in more than a double
NFLX $305/$315CS - sold some - Locked in a multi bagger
PCLN $1015/$1030CS - sold some - Locked in a multi bagger
TSLA $180/$185CS - sold some - Locked in a multi bagger
ER's Play
WFC $41/$40PS - made a 3 bagger
Porgie
Revs down 13% YOY and trend will likely continue. One of the reasons there ER's looked ok was because they lowered loan loss reserves. That trend might not continue and if there is more volatility in the markets and the economy continues its weak trend then the gov't may require the banks to hold even more in reserve.
I'm not trying to dissuade you from your opinion but there just look at things from both sides.
I thought JPM er's would be good but not good enough to make money on the calls but I also didn't like WFC and played a put spread for er's and tripled my money. While the stock eased its way back up I will be a seller again if it moves much more
Porgie
I would have to disagree with your assessment that JPM is "undervalued". What do you base this on? It's trading at the same PE as it has for the previous 8-10 years except during the financial crisis and the yar following it. The reason that the stock is trading at these lofty levels IMO is because there is now some clarity as to how much JPM will have to fork over in fines and litigation costs. The clarity that has been provided may still be low as there is a chance that JPM may be the "scapegoat" for this whole mortgage disaster based upon their own actions and the actions of WAMU. If the powers that be get their way it is possible that they may make JPM admit fault which is the worst possible thing that could happen to them. Why is it so important not to admit fault, and why do companies agree to settle and pay big fines? Because if they admit guilt they would be open to all kinds of civil lawsuits which could cost them more that triple of what they suspect it will cost them now.
Be that as it may, lets assume that there is no indication of that happening, and let's look at it from a "fundamental" basis as you state...... Net revenue down 13% YOY. Mortgage revs will continue to weaken as higher interest rates will slow refi's and home purchases. Investment banking and trading will decline as this Bull market starts to fade. Volume is continuing to weaken in the markets which will continue to put pressure on investment banking. New Issues will slow as well as the market starts to reverse IMO.
The good news is that with higher interest rates comes higher margin but the whale that has been driving loan lending is large corporations borrowing money for larger dividend payouts and share repurchases. At these low interest rates it pays for larger public companies to do that. That will slow and stop as interest rates rise. All the companies that borrowed at those levels will be sitting pretty while the banks suffer.
My take..... I'm a seller of JPM here with a pullback to $50. I think it will rally again after that to test the highs where I will be a seller again and the next time looking for a more pronounced pullback.
That is my opinion FWIW.
My Positions for the Week and Beyond....
SLV Oct 11 $20/$19.50 PS @ .05
UNG Nov $20/$21CS @ .10
UNG Oct 19 $19C @ .10
SPY $168.50WP @ $1.13
SPY $168WP @ .96
SPY $167.50WP @ .83
SPY $167WP @ .70
SPY $166.50WP @ .58
SPY $165WP @ .35
MA Oct 11 $665/$650PS @ $2.43
MA Oct 19 $630/$610PS @ .786
MA Oct 19 $620/$600PS @ .506
V Oct 19 $175/$160PS @ .24
I understand. My thinking is that near term the markets will be choppy. I think it goes up a bit short term (maybe $167 SPY) but then we get a selloff to $160-$162 area before it makes another run @ $175. I think that this will be shorter term (by mid to late Sept) but then we run into some strong headwinds such as weaker Ecnomic #'s and political wrangling and we are scheduled to run out of money again in Oct. The Fed will be forced (IMO) to stay on track to taper because of political pressure and the stark reality of having to shrink the balance sheet. JMHO
I am not sure why you would go so far out on these Calls. Can you explain your thinking?
I know it is a relatively "safe" play short term but 2 months premium seems like a lot to me when the option is so close to ITM. If it gets to $40 relatively quickly (a week or so) you would have a double. If it got there in a month or so you would make 75% or so and if it gets there within a few weeks of expiration you probably will lose or maybe break even.
If you went with Sept $38C you could garner almost a triple best case.
Personally I usually look for higher risk/reward in my options plays. It's sound logic if you want to be safer and have smaller returns and there is absolutely nothing wrong with that it's just that I play quite a bit riskier. That's just my style and everyone has to do what's right and comfortable for them.
You should consider trying the OM Chat Room. I think you'd get a lot out of it. Many ideas get bounced around there. I actually find some of my best ideas when some alert me to a stock i'm not watching. I evaluate and I sometimes take the other side. I use all ideas there as an opportunity to evaluate and then make a decision. There are a great bunch of people in there with varying levels of knowledge and experience.
Thanks. I'm a pretty seasoned trader. Was a NASDAQ MM for 20 years. I trade options now exclusively (that's trading, not investing). As a matter of fact 1 1/2 weeks ago I sold (2) PCLN $885/$985 strangles before er's when it was trading at $935. Sold them at $15.10 each and bought them back for $5 each netting $3010.
Nolerman
Thanks for the input!
My Trades Today - No Closed Positions
SLV $22P @ .225
SINA $77.50/$75PS @ .30
TSLA $155/$160CS @ .42
UNG Sept $20/$21CS @ .11
PCLN $960/$965CS @ .60
CME $70P @ .965
CMG $395/$390PS @ .57
CMG Aug 30 $385/$380PS @ .35
VXX $16/$16.50CS @ .05
X $18P @ .27
I'm still holding my TLT Sept $104/$102PS @ .38
I missed AAPL - I didn't want to pay more than .65-.70 but it ran away. I think I will get my chance again though.
I missed GOOG as I was hoping for a pullback before it ran.
This week's plays
AAPL - if it holds $500 - $520/$525CS (Weekly)
PCLN - $960/$965CS - If it holds $940 - if not I will pick my spot to jump in, maybe with a lower strike
VXX $16/$16.50CS (weekly)
VXX Sept 6 $18C and $18/$18.50CS
TSLA $155/$160CS - hopefully on a small pullback
X - $18WP
UNG Sept 21 $20/$21CS
CME Sept 21 $70P
CMG $395/$390PS (weekly)
CMG Aug 30 $385/$380PS on a break of $400
SINA $77.50/$75PS (weekly)
GOOG $865/$870CS - on a pullback to $850-$853 hopefully
ADS Sept 21 $195/$190PS
SLV $22WP on strength. I'd like to see it around $22.75 before I jump in.
Of course I will be looking for some strength in SPY so I could jump into Puts again.
SPY i had targeted $165 and I had a lot of Puts which I cashed out on Friday. When it hit the $165's I thought we were in for a bounce. I am hoping we get a bit of a bounce so I can short the market again. I think we will see between $160 and $162 in the short term. I will be playing SPY Puts of course on any bounce and I will be playing VXX calls.
read my post "please read" on top.
what news in AAPL?
eschaton
if I have my chat open you can private chat me and when I see your question I will give you my best answer. My advice to any newbie is to paper trade for at least a week consistently. When you feel comfortable then start to trade small. I usually will enter trades in "slices". I am a contrarian so I usually am going against the grain but I am not arrogant enough to think that I will catch the bottom or top so I buy multiple times and I will usually scale out of my sales.
buying an option is the easy part. knowing when to sell is by far the hardest part. you can make bad purchases (as we all do) but the trick is knowing whether to dump, hold or avg down. conversely when you make a good purchase knowing when to sell is crucial. I have seen traders with 3 - 10 baggers who never sell because they are looking for the grand slam (myself included). they end up losing money instead of taking profits. That is why I am a big advocate of making sales and scaling out of positions.
Why OM Chat Room?
Just a sampling from Friday!!
2013-07-26 02:15:55 PM retiredmm
PCLN out at $3.20 cost - .40 - 8 bagger actually meant to cxl and i had to discuss work items and it got executed! dam
2013-07-26 01:01:42 PM quamquat out NFLX 240wc 4.50 from 2.90 still have 250wc
2013-07-26 01:27:14 PM dubi_m out second 1/3 AMZN 310 3 from .23 avg
2013-07-26 01:29:12 PM coach1281 Sold my July AMZN at $2.66 from .50 ......still holding Next weeks....Thanks AGAIN JB! :D
2013-07-26 11:59:01 AM DocLopez
TSLA $130's yesterday at $0.16 was a good alert, however I did not partake :( But I got my 1.95 bagger with SPY today :D
2013-07-26 12:10:04 PM quamquat out AMZN 300wc 7.70 from 2.15
2013-07-26 12:11:57 PM Royalflush out 2nd 1/2 of SPY 168wcs .44 from.21
2013-07-26 12:35:04 PM leemalone2k3 Sold 1/2 LNKD 210c .55 from .17
2013-07-26 11:00:39 AM DocLopez Out SPY $167.50 @$0.30 from $0.11 :D
ER's Plays Mon-Wed (Repost)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=90384536
UPB
Thanks. Enjoy your weekend.
PLEASE READ!!!
For any of you who truly are serious about trading options and are not yet a member of OM Chat please read the following:
FOR THOSE OF YOU ON THE BOARD WHO DO NOT KNOW ME I WAS A NASDAQ MARKET MAKER FOR 20 YEARS. I LEFT THE MARKET IN 2002 AND I HAVE STILL PLAYED THE MARKET SINCE. I HAVE ALWAYS DABBLED IN OPTIONS TRADING BUT IT HAS ONLY BEEN ABOUT 5 YEARS THAT I PLAY OPTIONS ON A REGULAR BASIS. I GUESS YOU COULD CALL ME A SEASONED PROFESSIONAL. IN ALL OF MY YEARS IN THE MARKET I WOULD HAVE TO SAY THAT THERE HAS NEVER BEEN A CHAT ROOM OR TRADING ROOM THAT I THOUGHT WAS WORTH ANYTHING. THEY WERE SITES TO PUMP AND TO PAN STOCKS, NOTHING MORE, NOTHING LESS. I HAVE ALSO BEEN ON MANY OPTIONS SITES AND HAVE FOUND THEM TO BE MEDIOCRE AT BEST. THAT IS UNTIL ONE OF MY FRIENDS ALERTED ME TO THIS OM BOARD. ALTHOUGH THERE IS SOME OF THE USUAL STUFF HERE I FIND THE POSTERS HERE TO BE HELPFUL TO "NEWBIES" AND HAVE GOOD INSIGHT TO THE STOCKS THEY WATCH AND THE MARKET IN GENERAL. THIS BRINGS ME TO MY POINT.....
BEFORE I START I JUST WANT TO SAY THAT I HAVE NO AFFILIATION WITH OM CHAT ROOM OTHER THAN BEING A MEMBER. I HAVE NO FINANCIAL STAKE IN IT AND THIS IS JUST MY HONEST OPINION.
IF YOU ARE TRULY SERIOUS ABOUT TRADING OPTIONS EITHER AS A MEANS OF INCOME OR JUST TO MAKE EXTRA MONEY OR IF YOU JUST FIND IT FUN OR FASCINATING YOU OWE IT TO YOURSELF TO CHECK OUT THE OM CHAT ROOM. BEING A SEASONED VET I CAN USUALLY TELL THE REAL DEALS FROM THE PHONIES. ALTHOUGH THERE MIGHT BE A PHONY OR TWO FROM TIME TO TIME MOST IN THE ROOM ARE HONEST AND OPEN. NEWBIES ARE WELCOME AND AS LONG AS THEY AREN'T SHY ABOUT ASKING QUESTIONS THERE ARE TONS OF PEOPLE IN THE ROOM WHO ARE WILLING TO HELP. THERE ARE MANY TRADERS ON THE SITE THAT HAVE TONS OF EXPERIENCE AND THEY ARE WILLING TO TAKE TIME OUT OF THEIR DAY TO DO SEMINARS AND TO JUST SHARE AND HELP OUT. AS IT IS A DYNAMIC ROOM THERE ARE CONSTANTLY NEW IDEAS BEING THROWN OUT THERE. SO IF YOU ARE TRULY SERIOUS ABOUT OPTIONS TRADING YOU OWE IT TO YOURSELF TO MAKE THE INVESTMENT IN YOUR TRADING AND GET REAL-TIME FEEDBACK FROM OTHERS WHO CAN HELP YOU FIND YOUR OWN TRADING STYLE.
JB AND UPB - FEEL FREE TO STICKY IF YOU LIKE!
I have a $135/$140 CS for ER's Monday morning.