Boy, I wish I would have met you sooner. I've had a crazy ride with options. I started playing them in March...turned $18,000 into $70,000 is about one week. Turned that $70,000 into about $6,000 two weeks later. Now, I stand at about $38,000, but most of that recovery was because I quit buying options, and instead, went back to buying stocks. I'm not planning to buy any more options until I can study them MUCH better. I'm going to take your advice and get the CBOE book, also, I'm dumping my broker, who seems to be learning with each trade I make. My bigger problem was that I got GREEDY!!! I wasn't happy with a trade unless I made several thousand dollars. At some time, I had a substantial profit in each trade, but as I waited for more (holding options overnight), I ended up losing everything. Another problem I have...I'm a great stock picker, but with options, the time premium is what hurt me, as the stocks went up, but the time until expiration went down.
I really have alot more to say, but I need to go now. Thanks alot for the help:)
Oh yeah, som how about ASND...Volume hasn't picked up yet, but the stock has been showing alot of strength. Incidentally, they will be presenting at the H&Q Conference on Thursday, at 9:00 AM Pacific time.
Sal Habash
P.S. Hi Robin! |
