But I have a feeling that a good bet for May-June will be PUTS/Go SHORT on GOOG. ( right now around $481.00) Whadda think?
You could be right as some prices are getting INSANE. But who cares where they get as long as we make $$$$$$$$$$.
Well today is Sunday, April 29th and I put my money where my mouth is and bought a couple of June PUTS on GOOG this past Friday.. I betcha tomorrow GOOG goes DOWN!!!!!
Well I sold the couple of June 450 Puts I bought on Friday that I paid $4.60 Each today around 3:45p.m for $ 5.80 Each Yeeeeee Haw!!!!!!!!!!!!!
Thanks!! When I bought the PUTS on Friday my plan was to sell them as soon as they increase in value by 25% and that is what I did. They cost $4.60 and 25% added to that would be $5.75 and I closed them out at $5.80! If I would have waited until near closing ( another 15-20 minutes from when I sold them) I could have got $6.00 or even maybe $6.10 for them but I wanted to stick to my game plan of taking profits if my PUTS increase by 25%. I'll take that for ONE day! Thanks again!
Congrats! I give anybody mad respect for making money on the GOOG downside. Very rare. I'm still waiting for that 50-100 point decline day. Yes, I'm still sore about not catching the GOOG wave. I will never buy it, cause the day I do, the next it will drop like a rock....my luck
25% gain will not make up for any bad option plays, you sold too early. You MUST let your winners run.
25% gain is nothing compared to the spread and risk of total capital loss which happens quite often with otm options. Good luck losing all your capital with those risky bets and small rewards.