Discussion in 'Trading' started by heilbronner, May 1, 2003.
Long macr and selling a covered call in order to take advantage of the high volatility.
Trade is already done, made my bucks, 16% on whole position within 2 days. Sometimes I wonder why to continue daytrading the futures, because that's really hard earned bucks with lots of traps to fall into, not so with options. This was just easy, comfortable, no sweating- if you know what I mean.
How did you find that opportunity? The other trade to consider would be selling put spreads and holding to expiration.
It was on my list. Don't think that anybody will pay high premiums in puts for macr now.
Besides, do you still hang in in that ebay spread?
I bought ebay at 90.11 average to cover the 90 calls I was short on expiration day. The spread I sold for .70 credit so it was profitable. Take a look at SIVB, it is a bank that gets warrents from hi-tech companies when arranging financing. A lot of break outs from bases this week.
That's funny... I rarely trade individual stocks and I also rarely hold positions overnight -- but I picked up almost 2 points on MACR.
Once in a while I'll scan some charts at night looking for any glaring opportunities. When I saw MACR w/ several huge down days on heavy volume -- and then an even higher volume green hammer (semi-hammer anyway), I decided to play it long.
Held it thru earnings then sold it the next day for some meaty profit!
It's situations like this that make me think I should eventually stop the intraday trading and focus on swing opportunities more. Been daytrading for 4 years so it's tough to change my thinking.
totally agree with you.
Oh yeah, SIVB seems to be a wild thing. But volume isn't really that much. Wouldn't sell a naked call in this case, but anyway this stock is nice to trade. Whenever you consider to go long in SIVB, give me a PM.
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