AI
Friday, September 26, 2003 5:19:37 PM
LS - Shorts - Chinese Portals options
Here is where it would be worth your while to begin trading options.
The Chinese Portals have been a favorite of the momo crowd for the past six months - NTES, SOHU & SINA in particular. NTES is down 12+ points from its 52-week high and a close of $57 would generate a sell signal. Well, NTES closed @53.93. The October 55 Put Options (NQGVK) were priced at $2.35 at noon eastern time today.
I grabbed a few contracts for a one or two day spec trade. I didn't post because few, if any traders here, actually trade options. My October 55 Puts closed at $4.30 bid/$4.70 ask for an 83% gain in 4 hours. I didn't have a big position, but it was well worth throwing a few darts at, rather than posting disgusting porn all day like some people do.
It more than made up for the small losses in my long positions anyway. Thats the beauty of hedging.
Regards,
Naz
Here is where it would be worth your while to begin trading options.
The Chinese Portals have been a favorite of the momo crowd for the past six months - NTES, SOHU & SINA in particular. NTES is down 12+ points from its 52-week high and a close of $57 would generate a sell signal. Well, NTES closed @53.93. The October 55 Put Options (NQGVK) were priced at $2.35 at noon eastern time today.
I grabbed a few contracts for a one or two day spec trade. I didn't post because few, if any traders here, actually trade options. My October 55 Puts closed at $4.30 bid/$4.70 ask for an 83% gain in 4 hours. I didn't have a big position, but it was well worth throwing a few darts at, rather than posting disgusting porn all day like some people do.
It more than made up for the small losses in my long positions anyway. Thats the beauty of hedging.
Regards,
Naz
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