Gersh's Option trades Message Board

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Strategies & Market Trends : Gersh's Option trades

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To: Elroy who wrote (640)	4/21/2008 4:54:13 PM
From: Mark Johnson	Read Replies (1) of 652

Unfortunately you are correct. Even though it was a high strike price, it was not high enough. I am not happy unless I am perfect. One of the bad things with shorting calls during a market upswing that you can get really burned like I did. Playing the odds and thinking that it would correct (today), breaking $530 (on the downside) was another miscalculation, but I was able to cover my short at $533 and some change. The good news is that I am still up for the year in my account. Its just a numbers game. Still a bad trade but with some luck, its better for me than what could have been (Fridays Close). Hope you did not follow my advice on this one!!!! :) Good trading. M ============================================================== "I like the ideas of shorting the April 530 calls bidding around 30 cents. Hope you didn't follow through on that one.... nasdaq.com. "

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