EOD Thurs into Fri Report:
Here are my notes on how it went with the Thurs EOD Scan picks, courtesy of Global :)
(Assumptions -- I paper bought 100 shares of each and every one.
Where Options were available, I bought next expiry date, 10 Calls for 2 strikes 1 just above and 1 below the Money) Some had no option volume or options at all
Basket of shares 'cost' $15,025
Basket of Call Options - $8200
FRI Morning at the Open: Almost all shares flat or down. PETZ was volatile, up and down all morning, then really took off towards the EOD.
By end of day overall Shares Basket was up $100.
TUES and SPPI and PETZ were up the most (5, 4 and 32% respectively)
But yeah PETZ took all day to get there.
Most of the day, overall share basket was down over $700
Options: All were flat at the open, but mid morning
SPPI, TUES and GTN all rose. If I'd sold the whole options basket at 10:30 (which the chart was indicating) it would have netted
$700 or so.
Later ORA calls tanked 40% and since it was the largest holding (highest share / option prices) it brought everything down for a $1000 net loss
** Obviously no one is suggesting at this stage that anyone buy any or all of these as I did on paper. Plus one would buy based on closer inspection than I had time to do, lol! Doubt I would have bought 10 calls of the expensive ORA Calls in the first place etc etc.
An interesting exercise in paper trading, Global's very helpful condensed list of Trade Ideas Scan Picks, and just seeing how they all behave right at the Open.
Thanks guys!
TV
