Of course now that the premium has eroded in
my May 90 puts, the last few hours ticking away,
the market has now given back all those gains
which ocurred later Tuesday and Wednesday.
And so the price is back where it was early Tuesday,
at around 92. It is no wonder folks get hooked on
options (clearly all I had to do was double down on
the May 95's he he, options are truly the one-armed
bandit of Wall Street).
I remember some well-known trader saying that all
you have to be able to do with any bet is keep doubling
down on a losing bet. The trick is to not run out of money
before it finally pays, the problem being that you eventually
will be wrong so many times in a row, that you will indeed run
out of money.
You just need a better chart
maybe a whole new strategy, I was bearish
on the Seagate thread a year ago, but that
did not make me any money. And about a
year ago I had some AT&T calls--T started
going up as soon as they expired. It seems to
be easy to detect whether or not a stock is
over or under-valued, but rather difficult to
have the discipline to be short or long for
a long enough time period to finally catch the
move.
Anyway, the options were somewhat entertaining
while I played with them. I hope Dell doesn't follow
HWP's lead and have a poor quarter, it will be hard
for me to watch the stock tank after my puts have
expired. Just like getting up to stop playing at the
blackjack table, and watching somebody sit down
in your place who starts hauling in wins.
And now some possibly useful information. If anybody
on the thread is interested in speculative biotechs, I
think NTII is not a bad guess. It is on the pink sheets,
trades around a buck. I listened to the conferece call
and was encouraged. Do your research, I think there
is a chance that they could have a Dementia or Alzheimers
drug a year from now. All the stock in my portfolio are
highly speculative, this one has a better chance than
the others to pay off I think. |
