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Strategies & Market Trends : Calls and Puts for Income -- Ignore unavailable to you. Want to Upgrade?

To: Bridge Player who wrote (5836)	11/14/2013 4:57:43 PM
From: Jerome	Read Replies (1) \| Respond to of 5891

Thanks Bridge....Interactive brokers does have the best option prices..no doubt about that. As I understand it...IB also charges each time you make a change to an order. I do a lot of that. Most of the options in my account are doubles or triples from the starting point. BP options that I paid $225.00 for are now worth $1150. So a one dollar fee or a eight dollar fee does not significantly change the final outcome. One of the option books I read by Michael Thomsett, said If you buy an option, buy it far enough out, so it has a chance to work. And if you buy an option (call) keep it till very near expiration so it has a chance to work out. I used to trade for small profits, and that was fine till some stock took an unexpected hit (like CSCO) and cleared the deck of all those little profits. Of the twenty-five option positions I closed out so far this year 22 have been very profitable. I missed on INTC, BAC, and MU. I have a different batch in my portfolio now that close out in Jan, March and May..and they are all profitable. One of the things I do is use the week-end to full advantage. Starting Friday during market hours, and sporadically on Sat and Sunday I write down all that option positions that I should consider for Monday. Sunday evening I review them again and cross off those I deem questionable. By Monday morning I'm down to one or two options that I need to do the math on. Monday by 10 AM I put in the orders. I like the 10AM hour because by that time I can get a sense of the market attitude. Banks could be doing well, Oil poorly, and gold doing nothing. Thank You for Your suggestion, and let us know which stocks are on your horizon.