Should I unload my October GM Calls or Hold until next week

Discussion in 'Options' started by StockHustler, Oct 12, 2007.

  1. Bought some Gm October 42.50@.25 and 45@.10 calls and am up big over the past two days. I could see the stock push higher on more day. Any advice? Thinking about taking off half at the close of the day on each.
  2. Sell - Monday could be a 200 down day and you'd be lucky to break even.

    Grats on buying the otm calls ... I just couldn't bring myself to get long on GM ... hehe
  3. This was my target price area anyway looking at the chart short term. Hopefully it pushes up hard at the close and I will unload.
  4. Dam, this thing looks strong though and could be at 45 within a few days, may have another up day. Descisions, descions.
    And guess what I wil be doing with the profits??
    Buying Aapl calls!
  5. Citigroup has earnings on Monday before the market, I think they will miss because of the Subprime mess. I think I will sell all at close.
  6. I believe standard options operating procedure when one has "big gains" shall be to close 1/2 the position and let the rest run for a bit.

  7. ^^^ 5 days left with half barely in the money and half way otm calls ... how much more you willing to run ?