Thank you volatility and option pegging. 1 day later and we're now sitting back on ATM w/1 week till expiration. Rally, rally! Seriously though, let's get some follow-thru to 38 and I'll call it an awesome day
Speculative play Picked up another 35 35 Mar puts for .25 and put a limit sell on them at .50. Trying for a quick grand on the down pressure here.
Lol - good spec play. Too bad I was asleep and lost .50 a share in profits - lol. Now, my position is stable. I've lost $650 or so on AMD dropping nearly 25% from it's high. I'd say I didn't do too bad considering my strategy is designed for stable rising stocks I have a feeling we'll see a bounce to at least 35 by week's end and may buy a few spec calls this afternoon as such. Basically playing this for volatility between peg points. Some MMs lost their asses this month
Some paper published info that Intel plans to put an all out price war on to smash AMD - the same type of article that made the stock drop from 38 to 36 last week. Lame. Anyways, I wish I had put my play on WM and kept my lottery tickets longer - I'd be up 10K instead of down almost 1K now.
The hardest part of the game is NOT looking back...I've left a ton on the table...but every now and then I do score. you cannot possibly be right every time but as long as your right more than your wrong you will make $$$ best of luck!
Scalp play. Bought my 37.50s for a nickel and sold 10 Mar 35s for .40. With this thing being pegged right on 35 (or higher), this should be a very safe trade. I also sode my insurance puts for .40 as well. Alas, when try to close my short calls, I accidently place a buy order for 10 new 37.50 calls for .05. So I now have 10 lottery tickets good for 1.5 days as well.
Well, lost my ass thsi month. Down to 13,500. Easy come, easy go. Selling my insurance was stupid. That cost me another 750. Another lesson learned. I'm supposed to be playing long-term puts, not trading the expiration. Sigh. Ok, I am currently holding 10 April 32.50 calls against the same 1000 shares of AMD. I sold them for 3.40 so they are the equivilent of .90 puts. The thing is, I'm not to happy with this position either. Next support is 32.50 and the the 200 at 27 or so. There will now be resistance at any number of levels above me. AMD is not a "Strong stock" anymore technically. So, I'll sit on it a few days and move on.
Good runup today. I bought 10 Apr 30 puts under my 32.50s as insurance at .35 each. I now am in a bull-put spread again. Now, let's hope for a further run up to the 50 or so an stay there for a bit.