Should I panic about my short position on Apple calls?

Yep, interesting. I called the op out as a troll back then and then got a pm from him stating that he had contacted about 15 people by pm. Despite numerous requests to provide specific trade details, account details, and his intentions, the op has failed to do so. No one can give him any good advice without knowing all the details. A few people told him to hold which is beginning to look like losing advice but it is the op's fault for not giving them enough info to make an educated call on. Accordingly, I can't care much about what happens to the op even if he isn't a troll. Apparently his account can handle it and a newbie wouldn't make that trade.

 

Where did he say he sold them at $2.70? That would've been >200% vol at $425 on AAPL.

 

You are correct, I went back to read and didn't see any entry price explicitly stated by the OP. But at that time, the calls would have been closer to $0.27 than to $2.7. In that case if this is a real trade, he was margin called long ago.

Any of you guys buy far OTM calls or puts betting on a strong move in a particular direction? I don't usually do it. The best I have done is a 10X my money with BAC once. But the position was relatively small.

I'm sure some of you remember the day GS was charged with violations by the SEC back in 2009 (could be 2010, can't remember exactly). They did it on options expiry day. It was trading up around $165 on Thursday and dropped $30 on Friday. You could have bought the $135 to $150 puts on Thursday for close to one cent and they were worth 1000X or more the next day. Sure it would be a big red flag that some bloke buys massive amounts of puts that are expiring the next day which happen to go 1000 bagger, but just saying.

 

Another "great" recommendation from a frequent poster on here.
Options now worth $8.90 real time ( $80,100 ).

 

You are quoting my post out of context.

 

I can't get off the floor laughing.

In sincerity, try trading the deep in the money calls to neutralize this disaster. The March 455's have little premium and move well in the AAPL trend which is strongly up.

 

which post is out of context. you made more than 1 post on this thread.

 

That is correct ...... Perhaps Nine_Ender could respond to the post in question.

 

The only thing missing in the pic is a dim sum takeout box.

 

100% in context, you just didn't put the bs "I was joking" follow up post after your recommendation got destroyed. You seem to have a knack for recommending other people lose tons of money.