Just bought some puts ahead of the earnings call today. Stock is up 5% with no news or volume ahead of earnings. Bought the July 50 Puts @ 0.65 BURN BABY BURN!
I am guessing you are no Buzzy Schwartz and are a relatively new to trading. Do you have any idea what business SGR is in? For you to go out and buy puts on SGR in front of earnings was absolutely stupid. Buck up kid, you have alot to learn.
Next time if you have no idea about a stock, buy straddle, not just puts... You will lose on theta, but at least won't get burnt with being wrong in direction.
An impressive trade! Down 90% overnight. Always a good idea to buy puts on one of the country's strongest companies just before earnings. Duh. Can't wait for your next trick.
Yea, after I bought the puts I went and looked at everyone else in their sector and everyone was beating estimates so I bailed before the close. Still 28.8% on the puts, but would have lost big if I had held overnight! <BR> <img src="http://img77.imageshack.us/img77/6918/sgref5.jpg">
Gee that looks so convincing. Come here brag about buying puts, watch them lose 90% of their value the next day and then go back and say you sold them for a profit..