First I'd like to apologize for not posting replies. We went to Las Vegas for New Years and I picked up some horrible virus and ended up in the hospital. Today is my first day on the computer. I am still feeling like shit, but wanted to declare the winners of this poll. I think it was amazing that 14 thought I'd make 50% and 14 thought I'd lose my ass, but the winners are those who said I will make money, but not 50% I closed the position today for a net credit of 22.71. You can do the math on that one Attached is the file to show the position is closed. Zboy, congratulations, well done, she is a great person Sorry I did not call when I was in Miami. I had my mom, sister, wife and son to entertain, so I couldn't exactly do what I wanted to do. I will catch you next time hopefully. BTW, I did not put all the eggs in this trade. I don't know why you thought so. I know better than that Happy New Year everyone. I'll be back when feeling better. Tony PS, Don: I'm sorry I did not call you back. I had 106 fever and no voice. Some New Year Vacation eh ...
Tony, I thought you were taking this as an investment for a year and not a trade? I thought you would be closing this out at the end of 2002, not the very beginning. So which was it? Did I misunderstand or did you close early? ~Sal
When 27% of the maximum gain I could make on this investment were realized in three weeks, the risk/reward formula changed. If I hold to expiration, the return is 32% from here on what I can get today. The holding time is the same (a year plus). So since a lot of premium was taken out of the option, the smart thing to do in this case was to close it and ring the cash register. So in other words, yes, I did cut it short. But 2.71 X 33, 000 shares is not a bad way to start the year. Tony
Tony that's a dammm nice way to start the year. In all honesty, i'm glad to see you close this one, that's the way to play it!! CA-CA-CHINGOOOOOO!!! lol PS Keep up the good work.
Thanks, I went back to the doctors this evening and was diagnosed with Pneumonia. Got an antibiotic shot and a direct order to rest for the next two weeks. So you don't have to worry about me taking your money for the next two weeks Trade Smart! Tony
Doc said do not watch the market and rest, so I did not watch the market until the close. Turned on CNBC at 12:58 and watched the ticker. I saw this stock IGEN going nuts, so I ran upstairs, started RealTick, read the news and bought it. I sold it about 75 minutes later Damn this was too easy. As my friend Linda Raschke says, "you have to take the cookies when they pass the tray by..." Hope you all made money today. Tony
Hey Tony I was watching IGEN too, but I didn't play it. It looks from my chart like it just shot up from 45, but when I watched it after the halt, it started out at 51 and started going down from there. It must have bounced at 45 and shot up. I gave up on it because I didn't see any direction. Looks like I didn't wait long enough. What price did you get in at? Was it just going up at that point?