Jill and Poet, thanks for the thread. I have been so darn busy these last few weeks I have only had the chance to lurk and contact some folks on the back line. The reasons I have been busy is I have been working on Utility stocks for my dad.....right, Utilities. Guess which one I picked, and for the reason we all love....fiber optics, and it was ENE. In December I started following it, and last week I almost posted to Poet about what I was doing, but who the heck cares about Utility stocks, and options for utilities???? Well, obviously today the April55 calls went up a wee bit in price......and I was just using them to hold the fort until my dad's TE shares cleared the account from Banc Boston (they take a long time to cut a check, like now it has been 3 weeks)....so I had a number of those calls just to lock in the 55 share price, and today just before the close I sold 25% of them just to lock in a double, in a single day, to have something for the possibility of a drop off tomorrow.
This thread has helped me formulate a level headed strategy, and I just wanted to post, before I go back out the door, that without this thread, I would still be in the dark. I am a gorilla investor, but most gorilla stock options are too high of a premium for my time frame. This utility stock was more in line with my investment risk-comfort factor.
I will never again hesitate to let the thread know what I am up to. In that vein, I would like to say the only other play I am involved with is GBLX...I feel its bottom support is 45, and if it re-visits that price, some ATM long calls would be a very prudent buy, but only if the underlying equity is fully understood. IMO, this goes for any options investing, know the player, know the market as best you can, and as Jill said the other day, short term expiry is not the formula for a good nights' rest....thanks again all, will post soon.
Martin Thomas |
