Option Millionaires

[DocLopez]

Dude, tell me about it Mikey.... I'm still WAY new to options compared to everyone on this board. Actually, 4 weeks new. My first week I was slaughtering it with XOM CALLs/PUTs and BKS PUTs before earnings. But I had my A$$ handed to me on my last XOM PUT, BBY CALL, SLV call, and NOT taking profits early. I am fairly decent at reading charts and when I am in one I usually get fixated on it so that I see every detail. The BULLs and BEARs on this board also help sway my decision.

Today I made up for my last week and a half red mistakes by pulling in $10k yesterday and a total of $22k today. ALL BIDU $115 PUTs from yesterday close and BIDU CALLs today intraday. Sold some of my $115 w BIDU CALLs and still have 76 of them left at a $0.78 average. Hoping to capitalize on them tomorrow.

My next sure play will be BKS $15 Jan 21 '12 CALLs. A few PR's about how their NOOK is doing, how they have made MORE deals with schools on introducing NOOKs, etc.. will shoot this to probably $16-$17 again by January. Tomorrow if she opens down I am going to pick up the calls. the $1.00 range was attractive today but I didn't pull the trigger. Looking for the $0.90-$1.00 entry point on the Jan '12 $15 CALLs.

Other than that..... I'm watching the boards and looking for some plays for next week. I WILL say this, had I NOT left my desk at home watching L2 when they posted the YHOO ALERT I would have probably dropped $5-$10k on it. Man I missed a super monster on that one. But, I said to myself "You know, I should just go into the office and see if anyone needs anything from me. I haven't been there all day" Sure enough no one needed me, and I missed. Who knows, maybe if I had got in on yahoo I would have had a false sense of security and been a reckless trader after that loosing everything at the craps table in Vegas?

Well, this is my last post. Was good talking and reading post today. Waiting for your next YouTube lectures.

-Rudy