OPTIONS101

[SagDec15]

And then Monday bought more at .45. So I had some from .70 and .45. Yesterday I sold the .70s at .85. That was fun. I also bought some WCOM Sep02 10s, TERN June02 7.50s, and PFE Sep02 45s. The market has to bounce up here! If it does, the calls should be worth more ?? I don't know much about options, but even if I lose all the money in the options I bought, it's still less than I've done even this month with the stocks.

I see this is a new board, but where are the options traders?

I was thinking that options would help me raise some capital, or at least with the Sep & Oct calls, I had a few months to figure it out. But then I got a nice little surprise on Friday. I've been trying to wire funds since Tuesday to get me over PDT status. I finally managed to get it there on Friday... I get on my account and see it's there, but I'm still with PDT status. Then I realized that OPTIONS are deducted and not included in that equation! So my options put me below the 25K minimum, oh so slightly. At the opening bell I was trying to figure out what to do, then at 09:31:13 my VZ calls sold at .85, my account cost changed, and my "Day Trades Left: 1" changed to "Day Trades: Unlimited". WOW! And the VZ calls fell back to .65X.70 shortly after.