SMART TRADER; I think wise that you realise that you dont have experience with options, I too have tons and tons of things to learn about them just no time to do it, options are a tricky animal to tame so ya need to study them WELL BEFORE attemting to use them, and you dont need to know every type of options trade there is either, I DON'T, staight calls or puts can be good to make money with, I most ALWAYS use a few puts to protect a down side market heavy correction, bad news about the position your in that can kill a stock, they let ya sleep at night
BUT
they can be a great hedge to a postiion if done right.
the puts I by are mostly used to cusion the down side of a long term postion at least for me, but can make ya money if ya think stock is going down puts are a better short with low captial risk, you can short a stock with puts and not have to worry about covering them with big money.
Keep this in mind Citi (C) WILL BE GOING THROUGH A STRESS TEST IN MARCH, IF THEY FAIL OR IF THE TEST IS VIEWED BY THE INVESTING WORLD AS THIS COMPANY IS NOT MAKING ANY PROGRESS OR IT IS GETTING WORSE,,,, LOOK OUT BUD IT COULD TAKE A SERVER HIT.
THAT ONE THING alone COULD KEEP THE BIG BOYS FROM TOUCHING IT AND DO NOTHING BUT HAMMER IT IN THE MEDIA,,,,, HAMMER DOWN !
I PLAN ON HOLDING THESE PUTS UNTIL AFTER THAT TIME AND UNTIL IT GET'S BACK OVER $5 AND I SEE INSTITUIONS START BUYING.
I have $150 protecting 1/2 my total investment, CHEAP INSURANCE that lasts into the begining of JAN 2012, but by then they will expire worhtess so hopefully the stock is well above $5 and I WONT CARE ABOUT THEM, if market and co events keep me in them that long.
REMEMBER THIS,,,,,,,, ANY STOCK CAN GO TO 0 ,,,,,,,,,, ANY STOCK
ITS WHAT PEOPLE WERE SAYING ABOUT BEAR STEARNS WHILE IT WAS FAILING.
NEVER LET DIS-BELIEF CLOUD THE TRUTH
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