Bought at 144. Target 232 expected on sep 15. I think I figured out why my last one didn't work out. Let's see this one.
You expect AAPL to reach 232 by Sep 15 '17? Does this mean that you bought options on AAPL? What strike?
Yes, sep 15 '17. And no, I'm not playing this one with options. Just using leverage and a 3.5 dollar stop. Last one was with options and it burned me even though I could get all the previous swings just fine. As I said, I think I figured out the problem, but doing it more carefully this time (I hope).
But if you truly believe AAPL will reach 232 by Sep 15 '17, a 150 strike at that expiry costs $4.70. Even if it were only to reach $200 by the expiry, the contract would be worth $50. That's a 11 fold return. Why not do that? p.s. What is your stop?
You just quoted my stop lol. I said 3.5 dollar stop. 144.xx -3.5. And I am getting somewhere around 11 fold return using the insane level of leverage I use except I also get the ability to get out at lower levels also. And since I expect one or more re-entries along the way, in that case it would work out as 20 or more fold return.
So then what I was asking is if you are using a trailing stop or the 144.xx-3.5 as you mentioned. If you are using the trailing 3.5 stop and you are stopped out, will you re-enter?
No. I didn't mention any trailing stop. Not using one. I think they're dumb. I will however move the stop to breakeven in about a week or so and then hopefully ride it out until a coming re-entry where I can increase my size.