LONG since the open yesterday, result: I GOT RAPED!!! please read carefully

Discussion in 'Trading' started by caddyshack2006, Aug 17, 2007.

  1. did any of you cats get raped on selling your longs near the open? i bought sept 48 qqq callls near yesterdays open with the qqq at 44.75 for 56 bucks each(dow was down 115). after yesterdays late reversal with the qqq closing around 45.50 my 48 calls were worth less than i paid for them at 52 cents. i'm like that was weird, never seen that crap befo. anyway fast forward to this morning. I overslept and wake up at 9:42, flip on the tube and see the market up over 300. i'm like yes sweet feathery jesus, i'm friggen rich!!!! so i flip on my trading sgreen to see that those mofo auggie 48's are only at 52 bucks, even though the qqq's was at 46.25. this is a huge friggen move for those and my timing and direction wuz perfecto. i'm like this market is likely to reverse so i dumped em at 50 bucks just to get the frig out. so right on que the market retreats down tO DOW +80 and the qqq's at 45.70. guess how much those calls were worth at todays lows,,, 61 bucks.. and now with the underlying qqq's trading again at the same level i dumped my sept 48s would anyone like to guess where they are trading. 72 friggen bucks.

    i know that wuz alot so i'll put it in a nutshell. i sold my calls very near the top today and recieved far less for them than when it wuz at the lows today.

    wassup wit dat. can someone who knows please tell why i got raped.
    austin, rennick, riskarb,rearden,mischy, surf, optionpro1,2,3,4,5,6, and 7 ,bigboy bright and if i'm forgetting anyone worth a shit i apologize. i need your wisdom as to why i shouldn't load up in my camero and kick my brokers ass.

  2. It is called retail options trading, in which the broker's prospectus should call for KY jel and muscle relaxing meds.
  3. xiaodre


    the man is keepin you down, dog.
  4. Volatility...you bought at peak volatility and sold at lower volatility.

    If you continue to trade options without an understanding of option pricing you will only be funding the great lifestyle of real options traders.

  5. Hello, I need another new Rolex, please send me a check for $25,000...
  6. You mean Patek Phillippe.


  7. I'll take a timex, and trade the balance in my son's college account... :cool:
  8. Panerai is the new Rolex....
  9. sweet feathery jesus?

    you deserve to lose
    #10     Aug 17, 2007