Maybe. It depends on the magnitude of the move compared to the spread. The spread caps your upside as I'm sure you know.
I traded directionally based on news. I was going for doubles, but I probably only managed 1 70 percenter. Most were in the 30-50% range. It took just under superhuman discipline and resolve. I could do it again, but thankfully I don't have to. Any mistakes would easily crush a succession of good plays. I looked forward to expirations week, as being right would produce quick, efficient gains. Bottom line is it was a very stressful and exciting time, but it was extremely hard to be perfect so many times in a row. I believe it took like 8-10 trades or so to get to 25K the first time. Probably about the same the second. I finally crossed the threshold with a 33% gain on an AAPL option, going from 18-27K. Wilt
What in the hell are you doing with optionsXpress??? Don't go their if you want to earn money from trading. The commissions are the most expensive in the industry. If you want to earn cash trade using optionshouse or don't trade at all. The cost of commissions really add up with optionsXpress. Trust me, I learned the hard way.
relax its a paper trading... Bought this sucker for my yahoo portfolio.. after going through charts this might head down but if it breaks then 68 is the number to watch for.
another sucker is AZO and WHR. with clash for clunkers taking out so many old junk cars from the road AZO is going to suffer. they might beat the earnings but if they gave guidance they will be below expectation. WHR on the other hand is rising because of GE. so as GE goes down so will WHR.
I looked at WHR for a possible put option play (the spreads are awful), but I figured price was going at least to $100 first. Isn't there a severe washing machine shortage due to all the dirty laundry in Congress?
20.00 PERJD.X 0.55 0.00 2,392 - friday volume. Dell agrees to buy Perot Systems for about $3.9B $30 per share..
spreads take so much cash to make any real profit...if you had $500k could make good monthly money trading NDX spreads..