Who's making money today?

I bot Mar 08 bbry 13.5 calls averaged at 0.50. Could dip lower but I expect it higher next week with the positive coverage.

 

Consult me on AMZN next time

I got this crowd almost "figured out"

After years of trading it you get to know their shell games. It's almost always the same olde, same old.

 

Do you think you can make money by buying options? I don' think so.
But you can make money by selling options.

 

Spoken like a true newbie foolish amateur. Have you been in the markets for what... 2 , maybe 3 months or a year or so ?

 

Haha, did you really make money by buying options for several years trading? Eventually buying options is the way to lose money. You will know that.

 

True. For the majority of stocks you should be a seller rather than a buyer. In fact you should be selling both otm puts and calls close to expiry away from earnings periods. However for certain stocks like amzn and apple, if you can read the stock correctly, buying options close to expiry can yield substantial returns. Also speaking about my own trading, I primarily trade futures. I allocate less than 10% of account for options and 10% of that amount in these 10 bagger attempts. Majority of my options positions are 3 months out as leveraged directional plays as I prefer not to hold positions in the underlying stocks.

Although I lost on a few this time, I made almost a double on bbry on thursdays buy. I didn't average down on amzn, or nflx. If I had, I'd have made 30% on each position. On Thu I was also watching aapl getting hammered and should have bot the 440 puts at around 1, since my strategy allocation was already comitted, I could not buy. Today it went to 7.00.

You're welcome to post any positions you think will make money. Most of us trade alone and its sometimes good to see what other traders have on their radar.

 

What a crock, the bullshit one has to read on this site.

 

Buying options is for the big boys.

Are you talking about selling covered or uncovered calls?

I find that I make little money selling either of the above options.

 

Made an AMZN trade this morning for a quick profit. Bought 18 of the 270 call for $2.46 and sold for 2.82. I was very pleased with my trade this morning, I stuck to my plan and it paid off well!

Last week I had a good week starting off but finished it down after taking a loss on a second trade friday. The spread got me and I was working with too large of a position.