I would not try options play on this like you ask, if you never play options before. Take your profit, then learn options after that.
ok gents, do i have to get rude and belligerent. is this the only way ET works? look, I made a profit, and now it has suddenly grown larger. check out my p/l postings in the P/L thread; i'm no rookie and I've probably posted more legit $$ blotters this year than what most will make in a few years. so again, i ask: what does one do when a trade suddenly goes into favor much quicker than anticipated and what strats are avail to maiximse profit?
LOL, yes, I'm sure that'll work. Hey look. You're just being a greedy pig. It's obvious to everyone but yourself. atticus commands a lot of respect on this board, and if he didn't give you some complicated trade involving derivatives, but rather told you to sell. THEN YOU SHOULD SELL. P.S. You're very welcome.
Use an option collar...buy an OTM put and sell and OTM call. The call is a covered call so can also pick the stike as a profit target. The put you buy can be paid for by the money you get from the call. If the stock tanks, the put will rise in value and the call will drop (buy back the call for a profit, sell the stock and put to cash out).
thank you for your help. I will sell cause nobody here cares to even remotely think about a strat that a live trade could undergo. (and by sell, I mean--continue to look for better solutions than the pedantic "sell" cause atticus said so. I'm not Scout.) but, jesus, if this had been some bs debate about back-testing or r/r ratios this thread would be over 200 pages. where are the traders?!? not the paper losers!!! gents, this is a legit trade, and I am seeking legit answers. gl but EliteTrader this ain't. and this ain't even sourgrapes.
Just an opinion but here goes: sell 25% of the position, buy slightly OTM put to cover the rest. Expiry would depend on when you actually want to get out...
Here piggie piggie ... You got a lotta nerve asking for help with your 400k trade, having experienced traders come onto your thread and tell you to close out your position and then whining and complaining about it. Have fun in the trough.
yes indeed. this is what it's all about. I'm a PIG Dirty PIG. are you serious man?!? think about is. u have a profit, now what does one do if it moves into the green very fast. this is not a question about pigs gettin slaughtered--as u wish i get--but it is about how to MAXIMIZE a given trade.
thanks w/ the option strat. so if i do the collar trade--what percent or dollar value should those purchases be made if it's a 500K trade? i don't think it makes sense to buy 250k put and 250k call for a specific expiry? i'm i thinking about this the right way?