ICE Nov 175 call @ $1.60

Discussion in 'Options' started by forex-forex, Nov 14, 2007.

  1. I bought one ICE Nov 175 Call contract @ $1.60 today. It's down to $1.05 but I'm hoping to sell at $3.20 within the next 2 days, my order to sell is already in.
  2. It's bidding $.85. You'll need >$176 to get $3.20. You'll be lucky to get what you've paid.
  3. didn't you learn your lesson with sbux?


    Today was a good day considering the overall market. ICE sure was jumping around, todays range $168.55 - $173.70 and closed at $172.50. Position still open, 1 day left.

    November 17, 2007 - ICE and S&P 500
  5. Are you nuts? It expires in 2 day.

    <a href=""><img src="" alt="funny pictures" /></a><br />moar <a href="">funny pictures</a>
  6. ......the premium is melting away like an ICE cube. Expiration fridays tend to be choppy. Maybe you'll get lucky. We'll see.
  7. Sold @ $0.20.

    This trade was so close. The GOOG thread about OTM options moving a nickel into ITM on last day of trading and being exercised is what convinced me to close early, if I didn't read that thread I would have let this position go and then have to deal with a possible exercise. Another factor in closing early is that the trade was in the red most of the time it was open.

    • ICE closes at $175.04
    • GREEN dot was entry.
    • RED dot was exit.
    • Loss = $142.00

    ICE 5 day chart
  9. I am borrowing and bastardizing this quote a bit but the point is still the same:

    Ignorance is not doing some thing stupid with disregard to all good advice and common knowledge, it is doing it again and again and expecting a different result.

    Reminds me of a person who is banging themselves in the head with a hammer and each time wonders why his head hurts.

    Stop the insanity. Do you realize that if the next OTM lottery ticket comes through you are still in a big hole you have dug for yourself..
  10. ajna


    Quite frankly your exit doesn't make sense either. Assuming you didn't risk your entire bankroll, why try to salvage a couple dimes on a long shot bet? If your taking a low prob bet in a volatile stock, might as well let the play go all out.
    #10     Nov 16, 2007