8/23/17 11:09 AM: Bid on the 9/1 3.50C contracts is now at .30 as JCP trades at 3.79. A move to 3.85 gets me .36 market I'm wreckin...but a move to 3.90 increases the odds of getting $4+. So what would you do>>> 1) Play it "safe" and take 3/4 of your trade away "if" you get .36 (a 40%+ gain) in a few days? or 2) Be a hero, and hold for the whole sheabangie? ...ass-ooming it sees 3.90+ that is. :-) I won't tell you what I would do. I want to know what you would do. :-)
Nonetheless, see how eeeasy this shit is? :O Stop remains at .25 asked.
8/24/17 9:40 AM update: I don't think JCP will see the 3.90 numba that will assure more upside. And even if it does, there will be a pullback and another short term buy opp. Current bid on the 9/1 3.50C's is .39. I'll go "all out" of this trade with a 50%+ gain.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=jcp&x=35&y=16&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
Sorry man I just saw these posts, I didn't see them because I just check replies when I log on but you've been replying to your own posts, not mine so I missed them. All good though I just need to check the post and not replies.
I'm going to go through your posts in the morning when I'm not under the influence of a few post-work beers, I hope you understand ;) It's a little tricky for me because I have never traded in options before and I'm still trying to figure out if I can get a platform going here where I can do options, or even if its in my best interest to do options stuff, considering I work full time and all that. I don't expect you to care about any of this btw...
I liked your article about why people always lose trading options. A good post for newbs like me :)
I guess I was more interested in learning how you think about price action from charts. You say it's easy but I know that I've got a long way to go, so I'm prepared to.... read... books....
Maybe I'm best to wait for the next GFC and just buy stocks at the bottom. Like I did last time, even though I was too young to know what I was even doing.
I'm following all your posts and look forward to more good banter. Keep up your good work my friend :)
I'm trying to post my spews in direct response to the last pertinent spew just to keep things in order for myself. :-)