Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Bid.com International (BIDS) -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (16578)	4/5/1999 4:22:00 PM
From: Gee-Man	Respond to of 37507

Hey Dagan/Dougie whatever, where are you now?? Are you going to be making another prediction tomorrow morning about BID going down? Have you noticed your propaganda's not working here. As the song goes "Don't want no Short Short man"! Breaking 20 tomorrow!

To: Sam who wrote (16578)	4/5/1999 4:41:00 PM
From: Crazy Canuck	Read Replies (2) \| Respond to of 37507

>>I am new to buying calls ,so I hope I havn't screwed up as there is a lot of bucks here << This statement explains that you have entered into an agreement to purchase the right to buy the Bid.Com shares at a set price (called the Strike Price), on or before the 3rd Friday of April. You are not bound to exercise that option on that date, and you can sell it at any date prior to the close of business on the 16th. If you purchased the calls prior to today's movement, then there is a really good chance that you did not screw up. LOLOL You could most likely sell them tomorrow at a significant profit (relatively speaking). A rule I try to follow when buying calls is to ensure that I buy them with the strike price as close to the current price as possible - and with a expiration date as far out as possible. This strategy does not give you the maximum leverage that buying more inexpensive calls that are way out of the money - and close to the expiration date, will provide you. However, I find that you often have a better comfort level with your purchase over time. The volatility that options provides can be staggering. For example I recently sold closed out (sold) my contract for Sun Microsystems (SUNW) 100 calls. I had held these for months, and they rose and dropped like a ship in a gale storm. Two days prior to selling them, I was down approximately 25%. Two days later, I was up 36%. That is when I finally sold them. That was last week. I looked at them earlier today, and had I held them I would have realized a return of 114%. It reminded me of this quote . . . "Do not spoil what you have by desiring what you have not; but remember that what you now have was once among the things you only hoped for." Epicurus I like options. I think that when they are used properly, they can provide some excellent insurance for your main holdings, as well as provide you with the opportunity to get a piece of the action of the more expensive stocks. By the way, I hold some call options on Bid.Com as well. I am very pleased with the returns they have provided to me (on paper anyway), and I think that they will do much better for me than the SUNW ones did. Disclaimer: I have also lost a fair amount of money buying calls and puts. I started to learn more about how to trade these, and as a result, my track record has improved considerably. So Good Luck Sam, I hope it works out well for you. Crazy Canuk