Thank you for your replies. As my capital is somewhat limited (still on the road to the pattern day trader limit), I am long in VRNG hoping for a nice bump.
Currently I have 95 contracts of June 3.5 calls and day/swing trading with 4000 shares (just buying low and selling a bit higher). Currently trying to figure out the best strategy to limit my losses with what I have to play with.
As I see it, I have two ways to play it with a small profit: Day trade to an amount that would make up for the option prices I bought. I'm about $500 to that point (so maybe 1-3 days of day trading). This way I can keep the options just in case it does fly up.
or I can close out the options in another day or two at break even prices or with a very small profit.
I see the first option as the better way to go at it. But the second option is the better day trading strategy (slow and steady gains). Any other recommendations?
I agree cooler its a table game in a casino and imo it ought to be treated as such. There's too much counter-party risk standing between the probable and improbable outcomes.
I follow a few here because of their legal experience and enjoy their posts. But betting the farm on patent litigation case is risky and besides there is nothing worse than sitting on dead money.
I don't doubt the capabilities of the Vringo legal team but most of us didn't negotiate a favorable employment contract with the company either. With that being said there are a number of ways to make money in this play while minimizing risk and I hope everyone gets at least some of what they are looking for
Remember its always better to have money on the craps table when everyone is yelling ad screaming ;)
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