Hajimow, So lengendary that your short GOOG pick completely busted. That is true and I lost that $300 of 370 PUT. I will shoot my naked call 390 to the next month. GOOG is a tough stock to play.
Gambling was never the way to consistent profits We have las vegas for that.. Only people who should have been in this position were People long from $385/$345 S&P added and 10 days ago (CUSHION TO BET) People with legal "inside" info Fast money is never easy money, in fact its the most dangerous way to play the market.
Hajimow, I make that exact same mistake all the time. The cycle goes like this: Big gain-> Overconfidence to the point of dangerous hubris -> Big loss.
Ok now lets start a constructive discussion: I am thinking of closing my Call at loss or shooting it to June with increasing the stike prike by $10. So there are two strategies: 1- cover the Call and run away. 2- Cover the $390 Call and sell $400 Call for June and Sell PUT $390 for May. Which one makes more sense?
I am praying goog to stay above 430 tomorrow so I can break even. Your pray is fullfilled What about my pray
I have no directional opinion on GOOG, but making decisions with the mindset of "I've got to get back up to breakeven on this trade" ... is the second common psychological mistake traders make. If you can't say for sure that this is what you're trying to do, I'd just fold this hand and play another day...
Like it or not, GOOG will be around $500 the next time it reports. For the next several months, this thing will be pumped like you wouldn't believe. Folks like Cramer will be having a wet dream tonight. Shorts will be killed for the next 3 months....
Tomorrow there''ll be a wild ride. They say: don't say over until it's over ... Too much exuberance ...