Bill; I chart the options, and look for a ready made market,
the WDCDW april 17.5 call is a beauty..right now 3/4 , if she
hit 16 it'd be about 1/2 maybe 3/8..lots of OI..most sold
over 1.50 to 3.50...get them at 3/8 and any bounce will be
good for a double..
March 11th I got wdccc at 1.25.., March 13 sold it at 2.25,
like at the race track, picking dogs is one thing, playing
the crowd is another..I've said before with options your in
a third world market..you need good OI..with people bought
in way on top of you..a small move in your favor causes them
to want to average down..you got a ready made market..
if you don't pick a good market you go to sell the MM, just
skews the price, you don't make frazz..I done lost enough
money in options to write a book..wait till you lose 20grand
then write me a book on options, ..it's hard to make up..and you
got to learn an angle, and it cost to learn.
You be lucky with puts on this dog to get enough to pay commissions.
she will bounce around the 16 mark..give or take a bit..
I'll put my bid in at 3/8 if I get it good if I don't no big
deal...bet if I get it I do a double faster than lickity
split.
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bottoms are easyer to play than tops.
safer too, I never charted the puts
on WDC heck I don't have too..they are a suckers play at
this point in her history, luck may smile on you and I hope
it does..I'd rather be lucky than smart any way.
Jim
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