Hi jazzcat2000: Hey, I was just reading a PM you sent me back in January of last year the other day when I was deleting a bunch of posts. Was going to drop you note and see what all was going on since it had been so long. Now, ya show up!
Don, I bought QCOM March 35 and March 45 calls. Looks like we both had about the same thoughts there. I'm up 29% on the 35's and 31% on the 45's as of close Friday. Not bad for one day. Gives me some room.
Strategy for exit? Well, a few thoughts:
1.) I want a double. I'll take some off the table at that point, or if it gets near that point. All or part, don't know. Will depend on the action at that time. The positions can double, I think, if some positive news adequately refutes the negative report Friday.
2.) If the news turns worse, I'll close quickly. Won't hesitate to cut losses and run. Preserve capital rule 1. I, too, bought a considerable position, so I need to balance the risk accordingly.
3.) If QCOM holds in the 35-39 range for a couple of weeks, I'll close the 45's. Time running short. Won't wait. Will hold the 35's maybe one week longer than that, assuming the 35 area holds. At that point, I'll just be looking to get out before time erodes the profit.
How is everything? You still across the way? How's the family health?
RR |
