Casino play of the week. Come and get it.

Discussion in 'Options' started by KINGOFSHORTS, Mar 5, 2009.

  1. Wow

    2-3 pennies for March 2.50 calls for Citigroup.

    10 contracts (1000 shares) if its ITM you could win a nice prize.**

    30 bucks plus commision and you can make a nice chunk of money or lose about 30-35 bucks.

    but you will have something to talk about at the watercooler or at lunch.

    Anyhow just offering a fun casino style trade.

    Or the more expensive powerball edition.

    April 3 dollar deal.

    60 dollars + commish. for 10 contracts.

    Make it an office pool and everyone pitches in.

    give them the link to yahoo options to check out the horse race :)

    (OR BETTER YET) charge them small fee, you pocket that as the rake. tell them its for the cost of the commision etc..

    ** Make sure to notify the OCC to not assign ITM, just in case you think the ticket is a losing ticket on friday. You might wake up monday with a surprise you did not expect.
  2. johnnyc


    not a bad idea

    I think you mean notify not to exercise, can't tell them not to assign. you get assigned when you're short ITM, and auto-exercised when you're long ITM
  3. The office pool is very excited today. the 60.75 dollar lunch bet is going.

    Although it would take a miracle but still for 60.75 bucks everyone is having fun.

    I asked if they want to close out or let it ride. (split amongst 4)

    They voted to let it ride.

    (This is for the C March 3 contract that was 5 cents)

    now worth 11 cents

    profit if sold.

    Cost with commission for the initial bet

    50 + 10.75 commish (60.75)

    profit 110 dollars - 10.75 commish = 99.25 dollars

    ($7.10 winning takehome) pays for lunch and a story if they cash in now, but they decided to keep the horse race going.

    39 more days of fun.

    Most likely but who knows this will decay and be worthless track tickets.
  4. April Strike 3 options are higher today. I will be asking deal or no deal.

    From 5 to 15 cents not too bad for a play. This might end up one of those black swan events.

    I just hope I do not turn them into a bunch of degenerate gamblers.

    1000 contracts for 5000 dollars could have become 15,000 dollars (not including commision) although it might be a tad bit difficult to unload right now since there is not enough bidding on this contract right now to get a clean break.

    Liquidity is always KEY!!
  5. spindr0


    What, there's no room for more of us ??

  6. I would go for C $2.50 Call LEAP, seemed have better chance if C not get nationalised :confused:
  7. .40 for those C 3 aprils. Gonna have to ask deal or no deal in the next hour.
  8. Trade still alive? Hope you stuck with it past Monday! :D
  9. Yeah they keep waiting for the big one. I keep asking deal or no deal. And they are being fools. But they will learn a lesson.

    But wow did you see how that option moved in price though, at one point it was in the mid 80s which should have been enough.

    Might end up with the suitcase with 5 dollars or nothing at all :)

    Now there are dollar strikes for C :)

    C DT and C DU for april

    C Jun strike 1 puts bid 13 cents ask 17 (C FT)