karennma
8,057 posts
msg #125453
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10/7/2015 9:55:25 AM
XOM - currently 78.93.
Prolly a bad trade.
Good thing I didn't sell puts.
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karennma
8,057 posts
msg #125454
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10/7/2015 9:59:08 AM
Hmmmm ..let me think ....
I should've bought a put and a call.
Definition:
Long Straddle
A long straddle is a combination of buying a call and buying a put, both with the same strike price and expiration. Together, they produce a position that should profit if the stock makes a big move either up or down.
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karennma
8,057 posts
msg #125455
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10/7/2015 10:05:01 AM
karennma
5,555 posts
msg #125447
- Edit message 10/6/2015 4:34:38 PM
Chicken$#*+ trade
XOM close = 77.89
B (1) Oct 16 2015 XOM $78 put @ 1.21
B(1) Oct 16 2015 XOM 77.50 put @ 1.01
Adding this call will make this a long straddle.
B (1) 10-16-15 $80 call @ .74
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karennma
8,057 posts
msg #125456
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10/7/2015 10:06:31 AM
Final position:
B (1) Oct 16 2015 XOM $78 put @ 1.21
B(1) Oct 16 2015 XOM 77.50 put @ 1.01
B (1) 10-16-15 $80 call @ .74
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karennma
8,057 posts
msg #125462
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10/7/2015 11:16:09 AM
XOM - and down she goes1
At least I stayed short.
Don't switch horses mid-stream.
No point in chasing.
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karennma
8,057 posts
msg #125480
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10/8/2015 3:05:36 PM
B (1) 10-16-15 $80 call @ .74
I could sell that for 1.06, but I'll wait till next week.
It's not really in profits since I have 2 puts outstanding.
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karennma
8,057 posts
msg #125482
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10/8/2015 3:11:28 PM
So, XOM would have to go above $82 for me to cover my puts and the call.
This options thing is no "picnic" if you're wrong.
Almost as bad as trading the actual stock EXCEPT, the amount of money you're risking is minuscule.
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karennma
8,057 posts
msg #125483
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10/8/2015 3:12:19 PM
My point is -- a loss is a loss. I don't care if it's $300 or $30,000.
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karennma
8,057 posts
msg #125484
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10/8/2015 3:17:06 PM
chasing.
karennma
5,564 posts
msg #125480
- Edit message 10/8/2015 3:05:36 PM
B (1) 10-16-15 $80 call @ .74
I could sell that for 1.06, but I'll wait till next week.
It's not really in profits since I have 2 puts outstanding.
REVISED:
OUT of the call ....
Changed my mind. Sold for $1.01. Better than nothing.
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karennma
8,057 posts
msg #125485
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10/8/2015 3:18:18 PM
Now, it's $1.05.
Play small, win small.
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