I believe I missed something. Plain vanilla calls are long, plain vanilla puts are short in essence, right? I think it's going up so call.
Sorta...long calls are bullish, long puts are bearish. Short puts are bullish, short calls are bearish. And not to rain on your parade, but pretty sure it's premature for you to be looking at exotics you were asking about on the other thread.
There's no parade to rain on to my knowledge. I was not asking a question earlier, but stating a rhetorical. A short call is selling (writing) a call option to pocket the premium received from someone like me who buys them. I did not write a call option. I bought one. I thought I made that clear. Buy call GS 222.5. Are all of our wired uncrossed now?
@hhiusa Are you staying with your GS calls ? if you don't mind, what are your stops, time frame, etc. thanks
%% That just goes to show you , cant predict; honestly who would have ever dreamed BAC would get back above$20????? Adjusted for inflation it may NOT be over $20 LOL. The other side of the trade, its down >>10% from peak + pays a sorry dividend if you like sorry dividends. Jim Cramer have have known something years ago, he predicted said ''BAC will go to ..$60 in a heart beat.'' I opened a savings account with them [BAC], worst savings mistake i ever made. When a big bank ties to rip you off, like my banker dad warned me ==go to the federal reserve[ bank regulator.....]
I don't use physical stops, I just watch the market closely. I have market data so I can what's happening as it is happening. I also don't have an issue with order execution. I buy with an expiry in mind. That is essentially my time stop. I buy "directionally" as someone said. A stop means you have too little confidence in your trade in my eyes. “If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” -WB I am staying with my GS calls. Despite it falling to $221.80, I hear there is news on the Trump Admin front about bank deregulation that he could still get through. However, that is only a small part of the reasoning. Even if it drops to a support of $218.00, I would still be bullish. "Be Fearful When Others Are Greedy and Greedy When Others Are Fearful." So to speak anyway. 06/30 price target >$230.00
Thanks for the reply. I never use physical stops, but I'll have a mental stop at a short term support level, if it is broken and if there is not enough time for a recovery by expiry due to theta. But I understand your expiry time stop concept.