I just noticed a week old thread on GM, looks like GM is in a lot of trouble. I might buy some Dec20 Puts. That would be a great trade. I will check the premiums on that. I have always wanted to short it but I every time I thought it is late. I just shorted 200 shares and covered in half an hour. So easy money. No resistance. I am afraid we might see some dead cat bouncing that might scare the shorts and push the stock up a few points. I see the stock at $16 in Jan. I recommend you to sell naked calls 25 for December to get the most juice out of it. American car companies don't want to learn. When they want to get wise,they make mini hummer!!! Wake up hummer is dead. Make a car that can compete with Honda CIVIC.
I think GOOG will reverse soon as well, but farther past $405. I believe 400 is a strong resistance point and that the pressure to breakthrough is still pretty strong, judging by the quick rebound Nov.10. Where do you see demand dropping off? I see volume still about average, if that's what you mean. I sure hope it sails well by Friday close - I'm stuck in 4 quickly depleting Nov.400 calls and don't know enough about options to hedge that.
It's amazing you haven't taken an analyst position yet. The corporate world beckons your precise analysis on Asians and Dell. Multi's experiment has taught me something so i thank him.
A Question: I can not have open orders on both sides (bid and ask) of an option in my IB account. Does anyone know it is a security rule or IB rule. To Multi: I have a suggestion for your future trades. Let me know what you think. Say you want to sell 50 Calls. Sell 10 contracts and wait an hour and if you like your trade after an hour,do the next 10 and ,...... This might reduce your profit if the stock flies but it might also reduce your loss or if you decide that it is not a good trade after an hour,you are only 20% in. To Everyone: Read the "reminiscence of a stock operator". It is very interesting. It is a very good interview with a trader written 80 years ago. The book is less than $20.
Yes. I looked at the pic of the car. Very small gas efficient car LOL I will definitely short GM tomorrow after I saw the pic of the car. http://www.gmbuypower.com/vehicleHomePage.bp?year=2006&makeId=007&make=HUMMER&modelId=090&model=H3
I would recommend paper trading for Multi, he has some issues to work out first before he trades real money. That APA trade was really something.
:: ALERT :: SBUX Starbucks, earnings Thursday after market closes. $30.83 Buy Nov30 Put @ $0.45 Buy Nov32.50 Call @ $0.10 Total debt $0.55 If SBUX hits <$28.90 or >$33.60 on Friday more than double cost of straddle/strangle. Or just buy the puts.