NW; Re> So why didn't you keep some LEAPS? << well I was a little
in shock to find I had bought more than I felt I could afford to.
Besides that I'm not a big option player ( any more )..a few
here and there but very cautious. ( haven't lost a bet in them
in over nine months now but have only made 5 ) I use to trade
that many or more in a week sometimes..allways avoided splits
and such..never knew that 1 contract could equal 2.5..
figured when all that split thing happened it would be like
shares..if you already have them you get more..but if you buy
them after split you don't have to buy 2 or 2.5..but I guess
I didn't figure right, and while I've had close relationships
with some brokers on a personal basis, they were not option
specialist..and in general advised against them. AS I do..for
all but the very experienced..options are tough don't let any
one fool you into thinking they are a road to riches..finding
good ones is not only hard it's rare, and pulling the trigger
when you still have some momentum in the stock is a more a
form of art than any set rule a person can discribe..
like using a sextant at sea..there is a lot of art to it,
yet you have to be fairly fast too, and catch the floor trader
sleeping.
----------------------------------
Any way I had got them at a bargain..on the 18th..with down
momentum on the stock..early today we had good up momentum..
for two days and that was factored in ..they skew a lot with
momentum.. it's not like they just represent time..they have
a life of their own too..any way the profit was good for a week
19% net while the stock is up only 12%..these were deep in the
money..and not el cheapos..if the momentum slows those same
calls will pull back to more or less reflect the gain in the
stock price..deep in the money calls generally track the price,
closer than that. And after I had bought them I was saying
to my self now why didn't I go out to yr 2000..so If I buy
back next week I might go on out.
----------------------------
Last I have a glich about commissions on options..and don't
like giving up the discount by splitting up a batch..
the more you buy or sell the cheaper per contract..so I tend
to go all the way in or out of an option position.
They are a lot more than my $12 commissions on stock, and when
you split them you may as well add another $35 -$50 or more
to your expense even with a discounter.
---------------------------
Actualy I didn't give it a lot of thought at the time..she was
losing momentum, and I was on a margin I had not planed for,
and it happened fast..I'm getting faster on the trigger pull
too ..and I might add a little better also..you can over
analyze easy..most things should be thought out ahead and
targets kinda set..this was not a time to do the thinking..
hell I had goofed and was smelling good , lets get the bkuc
outa here.. <G> can't you remember ever doin taht ?
-------------------------
Jim
word for the day "lucky".. |
