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Pastimes : Play It On Paper- Clappy's Newbie Option Thread
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To: Clappy who wrote (1)7/24/2000 4:36:16 PM
From: Clappy  Read Replies (3) of 176
 
Play It On Paper: Day 1 Trading Results Report

Here was my first trade that I posted this past Friday:
I'm going to buy the Aug 160's Puts for $11. Ticker JUDTL.
I'll buy 2 contracts for a total of $2200.
In addition I will buy the Aug 120's Puts for 1 3/8. Ticker JUYTD.
I'll buy 20 contracts for a total of $2,750.

(See the post that I'm replying to to see the original message.)

Here are the numbers that are listed for these options today:
Ticker- JUDTL August 160s Puts : Last 16 3/4 Bid 17 1/4 Ask 18

Ticker- JUYTD August 120s Puts : Last 2 9/16 Bid 2 3/16 Ask 2 9/16

Value of JUDTL if I had sold today: 200 x 17 1/4 = $3,450
Value of JUYTD if I had sold today: 2000 x 2 9/16 = $5,125

Total = $8,575
My initial investment was $4,950.
Today's potential profit was $3,625
My potential return on investment was 73.3% in one day.

...sorta makes me wish it wasn't only on paper...

Probably if I had been trading this live, I would have been tempted to sell the Aug 120's and took my profit.
At least 10 of the 20 contracts, anyway.

However, because this is just paper money I believe I will let it ride.
Tonight I want to look at some charts and decide what I will do.

This was an exciting first day as a wannabe options trader.

I think I'm going to like this.
Is it always this easy to make money?
:^)

A guy can dream, can't he?

-Clappy
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