Bailed out @ 4. Now flat. 5% drawdown YTD. It only takes a bonehead trade like this to wipe out most of my gain for Dec.
bummer...thanks for letting us know..FWIW as I said OIH is a bitch..I wonder how much manipulation really goes on...hummmm
I am king of the bonehead trades, so don't beat yourself up over this one. As RR said, the OIH is a tough one. I have been trading it a lot. By the time it finishes whipsawing you around, you will forget your own name. AZD (I think)
From today's expiration close of 132+, it looks like this was the way to go. Of course, hindsight is 20/20.
The only problem is that it took ...THE... LAST day of trading to finally get above 130...if you had a lot of $$ on that trade you would have been sweating bullets....as MTE said it was NOT a good risk/reward trade. If it doesn't close above 130 you've lost it all.
Key statement: "If it doesn't close above 130 you've lost it all. " Not true. If it doesn't close above 130, you don't receive maximum profit. If it closes below 125, you've lost it all, and that is only if you decide not to close it out before the end of expiration day. Yes, the OIH makes you sweat bullets, but for the past five days, your perspiration would have been minimal. Closing prices: 1/19 132.36 1/18 128.6 1/17 130.10 1/16 128.38 1/12 129.69 AZD