Very nice run, Thean.
Often, we see players (both bulls and bears) lose sight of the goal - to make money and preserve capital.
You were right on the mark with HD support at 42 - 42.5. This was a good trading day for me. As HD dropped, I shorted 5 Aug 55 puts for 11.25, then 5 more for 12.25, then sold my long 47.5 puts for $5, put in an order for 20 aug 47.5 calls for 7/16 (they sold me 4 - I was too cheap this time), then the silly stock bounced back up - I bought some aug 37.5 puts and was too cheap on my price for more Aug 40 puts. I don't care whether this thing moves up or down - just so it moves.
PC makers have suffered some heavy damage. This may be the last Dell conga-line call party, where all the bulls line up to buy their Aug/SEP calls for the big earnings announcement. At some point the party must end. But, no way do I play Dell - long or short. I do have some CPQ calls & puts. We'll see. CPQ at 15 by November?
Last month, I had puts out the wazoo for GTW; did it drop? NOOOOoooooo. This month, puts seemed pricey and I moved onto other game. So, did GTW drop this month?? I don't even want to think about it. :-(
Thean, thanks for your help. If you want to play HD, buy both puts and calls. HD has not been wounded yet - the bulls could take it to 50 or 55.
Mike |
