Nice to see something good come this week. I reversed and went short the S&P at around noon. Just one 1100 put. Paid more than it was worth, IMO. But I was so po'd from allowing myself to become cannon fodder, I just went short and then went to a dentist appt. -GG- And it worked. Er so far that is, I have a small profit.
I went recklessly long into VTS calls this AM, right at 9:35, but I'm serious Lisa, you're not going to believe it, but it was an accident. I kept wanting to get a quote, because I wanted in right away if it didn't gap up too much. So instead of asking for r/t quote, I filled out the order entry screen for my call options, market order. 9:28AM: quote N/A. 9:30: quote N/A. I'm hitting "back" after the second screen, the one which has the "submit order now" button, the one that's saying quote N/A. Then I get impatient and go to the r/t quote screen. I get a quote. It looks high, I'm not sure if that's a stale number from yesterday or what. I hit back. Just once. I think I'm at the first order entry screen, and obviously confused, I click submit.
I stare in astonishment at the screen, as it says, "your order has been accepted".
The VTS option had gapped up over a full point, from 2 3/16 to 3 1/4. I bought a full 33% more than I wanted, and at higher price than I wanted. I feel stupid, and get reckless. I figure if the market is on fire and I'm in, then I might as well go in. So I go market into AEOS options. buy more than I planned. That's about when the market peaked. AEOS, after putting in a 7¢ +earnings surprise, gapped up too, along with VTS. But AEOS dropped like a stone. I don't even know what it ended at. Dropped 3 pts right after I bought it, within about 20 minutes I'd say. I saw the first leg down, the first 1-1/4 pts. No limit order. You know how it is with options. The spread's so huge you feel locked in, unless you want to simply take a hefty loss that's almost guaranteed to get filled. So I wait a bit, thinking it will bounce, hoping. I sold at about the low for the day I think. You know, buy high sell low. VTS took a swoon too, and I bailed out of that too. Too shook by AEOS, and the whole thing which started with that accidental order.
So I brooded over that for awhile, then bought the SPX put. Good thing I won't be attempting to day-trade anymore, as I start a new job Monday. I'll be around though. Probably position trading, always using limit orders and stop orders of some sort.
Go ahead, RFLOL. :-).
later,
DK
PS: Jenna, what happened with AEOS? was it a sell on the news? (No I'm not crazy Lisa, I know Jenna probably doesn't read this thread. :-)) |
