walking into the fire

[(former)FormerSanDiegan]

I’m dollar cost averaging into this market. Started in the early 1990’s, addicted to it. Can’t stop.

[Coronita]

I’m debating what I should do before today

1) Close out my position in BAC opened yesterday for a 12% profit, or

2) Write some covered call, expiring Oct 18 with a strike price $35/share with an option contract at $2.24, to see if I can book a larger profit if a bailout happens, while reducing some of the potential fallout if another bailout isn’t gonna happen.

Selling a $35/share covered call with expiration in 3 weeks, I can pocket $2.25, so if the bailout does propel BAC, I’ll book a $5 profit + the $2.25 option price.

In the event the bailout doesn’t happen, BAC tanks the covered call expires worthless, so I’ll get to keep the the $2.25/share, plus whatever price BAC fetches, which means my cost basis would end put being around $27.85 before i lose money….

Hmmmm decisions, decisions. Thoughts? Yeah it’s gambling. So what….

[Coronita]

I’m debating what I should do before today

1) Close out my position in BAC opened yesterday for a 12% profit, or

2) Write some covered call, expiring Oct 18 with a strike price $35/share with an option contract at $2.24, to see if I can book a larger profit if a bailout happens, while reducing some of the potential fallout if another bailout isn’t gonna happen.

Selling a $35/share covered call with expiration in 3 weeks, I can pocket $2.25, so if the bailout does propel BAC, I’ll book a $5 profit + the $2.25 option price.

In the event the bailout doesn’t happen, BAC tanks the covered call expires worthless, so I’ll get to keep the the $2.25/share, plus whatever price BAC fetches, which means my cost basis would end put being around $27.85 before i lose money….

Hmmmm decisions, decisions. Thoughts? Yeah it’s gambling. So what….

[Coronita]

I’m debating what I should do before today

1) Close out my position in BAC opened yesterday for a 12% profit, or

2) Write some covered call, expiring Oct 18 with a strike price $35/share with an option contract at $2.24, to see if I can book a larger profit if a bailout happens, while reducing some of the potential fallout if another bailout isn’t gonna happen.

Selling a $35/share covered call with expiration in 3 weeks, I can pocket $2.25, so if the bailout does propel BAC, I’ll book a $5 profit + the $2.25 option price.

In the event the bailout doesn’t happen, BAC tanks the covered call expires worthless, so I’ll get to keep the the $2.25/share, plus whatever price BAC fetches, which means my cost basis would end put being around $27.85 before i lose money….

Hmmmm decisions, decisions. Thoughts? Yeah it’s gambling. So what….

[Coronita]

I’m debating what I should do before today

1) Close out my position in BAC opened yesterday for a 12% profit, or

2) Write some covered call, expiring Oct 18 with a strike price $35/share with an option contract at $2.24, to see if I can book a larger profit if a bailout happens, while reducing some of the potential fallout if another bailout isn’t gonna happen.

Selling a $35/share covered call with expiration in 3 weeks, I can pocket $2.25, so if the bailout does propel BAC, I’ll book a $5 profit + the $2.25 option price.

In the event the bailout doesn’t happen, BAC tanks the covered call expires worthless, so I’ll get to keep the the $2.25/share, plus whatever price BAC fetches, which means my cost basis would end put being around $27.85 before i lose money….

Hmmmm decisions, decisions. Thoughts? Yeah it’s gambling. So what….

[Coronita]

I’m debating what I should do before today

1) Close out my position in BAC opened yesterday for a 12% profit, or

2) Write some covered call, expiring Oct 18 with a strike price $35/share with an option contract at $2.24, to see if I can book a larger profit if a bailout happens, while reducing some of the potential fallout if another bailout isn’t gonna happen.

Selling a $35/share covered call with expiration in 3 weeks, I can pocket $2.25, so if the bailout does propel BAC, I’ll book a $5 profit + the $2.25 option price.

In the event the bailout doesn’t happen, BAC tanks the covered call expires worthless, so I’ll get to keep the the $2.25/share, plus whatever price BAC fetches, which means my cost basis would end put being around $27.85 before i lose money….

Hmmmm decisions, decisions. Thoughts? Yeah it’s gambling. So what….

[underdose]

Hey, stockstradr. Assuming your 2X s&p position was taken before open of business today, you’re up almost 9%! Not a bad return for a whole year. Spectacular for just one day! How long to plan to let it ride? When do you take profits?

[underdose]

Hey, stockstradr. Assuming your 2X s&p position was taken before open of business today, you’re up almost 9%! Not a bad return for a whole year. Spectacular for just one day! How long to plan to let it ride? When do you take profits?

[underdose]

Hey, stockstradr. Assuming your 2X s&p position was taken before open of business today, you’re up almost 9%! Not a bad return for a whole year. Spectacular for just one day! How long to plan to let it ride? When do you take profits?

[underdose]

Hey, stockstradr. Assuming your 2X s&p position was taken before open of business today, you’re up almost 9%! Not a bad return for a whole year. Spectacular for just one day! How long to plan to let it ride? When do you take profits?

[underdose]

Hey, stockstradr. Assuming your 2X s&p position was taken before open of business today, you’re up almost 9%! Not a bad return for a whole year. Spectacular for just one day! How long to plan to let it ride? When do you take profits?

[peterb]

The corporate representatives in congress will probably get something out of this by Friday. So this should be a good week to buy puts and get some shorts. Or sell those crap equities that have been tanking most of the year. DOW at 9000 be December looks pretty possbible now.

I am very tempted to take a bite from the buiilders. TOL, LEN and CTX may be ready to adjust in the next couple of months. I think good old TIF may be ready as well.

[peterb]

The corporate representatives in congress will probably get something out of this by Friday. So this should be a good week to buy puts and get some shorts. Or sell those crap equities that have been tanking most of the year. DOW at 9000 be December looks pretty possbible now.

I am very tempted to take a bite from the buiilders. TOL, LEN and CTX may be ready to adjust in the next couple of months. I think good old TIF may be ready as well.

[peterb]

The corporate representatives in congress will probably get something out of this by Friday. So this should be a good week to buy puts and get some shorts. Or sell those crap equities that have been tanking most of the year. DOW at 9000 be December looks pretty possbible now.

I am very tempted to take a bite from the buiilders. TOL, LEN and CTX may be ready to adjust in the next couple of months. I think good old TIF may be ready as well.

[peterb]

The corporate representatives in congress will probably get something out of this by Friday. So this should be a good week to buy puts and get some shorts. Or sell those crap equities that have been tanking most of the year. DOW at 9000 be December looks pretty possbible now.

I am very tempted to take a bite from the buiilders. TOL, LEN and CTX may be ready to adjust in the next couple of months. I think good old TIF may be ready as well.

[Author]

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