Thirsty's options

It was an estimation. I didn't say I was going to buy 1/4 at each of those .2 increments. I was just thinking my eventual position will have a price of around 2.6. Looks like that avg will be cheaper. I am waiting for the dust to settle and will be buying those 1/4 increments in the coming 3-6 trading day. I will be waiting for an uptick before I buy, so the 1.9 stop may hit before I can continue the trade, given MSFT's delay in vista and the potential reaction tomorrow. Further, the reversal on the markets today could lead the market down and hit my stop.

 

What is your current P/L?

 

Based on the closing bid of 2.35

I am down .55 on entry 1 and .25 on entry 2

These 2 positions represent 1/4 of my account. At an average loss of .4 on a cost basis of 2.75. That is a 14.5% loss on the current position or 3.6% of my entire option trading portfolio. Given MSFT's news sending ripples through the entire tech sector, I will most likely be stopped out. the loss will be .8 or 30% of the current position and representing a 7.7% loss on the trading portfolio. I will not be adding unless I see the situation improve.

 

Adding an additional position. 10% of portfolio. AAPL April 62.5C @3.1

Target 5, stop 2.

 

thirst, your AAPL call got stopped out last week, right?

 

Yep. Sorry was away. If AAPL does close with relative strength today, I will rebuy the position. I am looking for a 60.5 and above close to rebuy position.

 

FYI I picked up the rest of my QQQQ position at 2.5 today and rebought back the position in AAPL at 1.8 60% in position and 40% cash.

Stop on QQQQ remains the same
AAPL stop at 1.5

Same targets as intial entries.

 

I closed out half of the AAPL calls. Given the uncertainty of wekeend events. May close out all by close.

 

Friday's sale was at 3.2. I am raising the stop on the remaining position at 3. I picked up a 10% position in AMD april 30 calls today at 4 dollars. Stop at 3, target 6.

 

Vol's in front month April are very high in relation to may...therefore prob more expensive...you might check out the may options...if vol's rise you'll profit. I have a put calendar and looking to roll but waiting for the vol's to come down (although admit they might not since they will report earnings after Apr exp )