MY GOD- The man IS a GENIOUS! He managed to turn that 1k into 100k in ONE DAY just like he promised! Ok, it is "sim" money but still, to do it on a WEEKEND when options aren't even being traded is just astounding. My only hope is that some day, if I can manage to post enough on this forum that I will be able to achieve similar results......
It's really not going to work for you until you put up a web page displaying how much you can make by taking covered call positions in Goldman Sachs just before earnings and then starting a solicitation thread here for wannabes needing a mentor who can do all this and more. SHAZAM !!!!
Ah yes, the Pillsbury Dough Boy syndrome. You squeeze here, he pops out there. You squeeze there, he pops out here...
Regardless of increasenow's past ET posting history the $1,000 to $100,000 challenge is something that everyone on ET would like to accomplish, and have thought about. You all know that 3x and 4x gains with options happen regularly and that $100,000 is so close - yet so far. If only you could get those few trades. I still stand by my RIMM trade and we will see the results end of the week, then on to maybe GOOG. Will keep you guys posted.
You're putting on the trade pre-earnings? If it wasn't for the Tuesday pre-market earnings factor, I'd consider this a high probability trade, but the high short interest (~15%) could easily drive price into the next 63-67 resistance range on any positive earnings news.
Man the average volume is so thin on FDS that any move could really be exaggerated. I'd steer clear of that one prior to earnings, but that's just me.
Is there any reason why nobody seems to be a fan of spreads? Unless you were expecting a huge move from earnings wouldn't you do better with a debit spread?