This morning I sold 10 of the 180 weekly puts for NFLX and made right at 450. I could now close them at a cost of 150 for a 3 hour profit of around 300 but I will wait until tomorrow morning and close these and sell some other puts that expire later the same day.
I have been trying to close the FSLR puts that I have. I have 30 of the monthly ones that expire next week. They are the 95's and FSLR is trading around 132.6 I have tried to buy them to close for .05 but no takers? Maybe tomorrow and then i can use that maintenance for other trades. I hate to sit on over 28K of maintenance for a week and only make 250 or so. But that is part of trading.
5 comments:
Jerry take a look at LULU dose not fit the model but I really like the upside surprise and forecast going forward I will take the stock at 55.. Jan 55 puts .75 3600 margin =20%
NFLX 201.21 I think I'm going to cry :+( congrats to all that held. The up side is I should be able to close out both shorts at a profit Fri. and free up 40K+ margin. GEeezzzzzzzzzzzzzzzzzzzz!
lol... Yes I also took a small hit..1400 or so but making it back now. Hindsight is sure clear. But in this business you have to play what is in front of you. The first time you think, "it has to come back' That is a good way to lose your shirt, pants and even your long johns... Many years ago I did the 'it will come back drill' and watched roughly a million dollars evaporate pretty quickly. The guys on the other side of the trade have to win now and then or they will quit playing.
And that is why I rolled to the 175 it was cheeper than buying the Dec2 190 and making it a spread and maybe a $5 kick in the ass. My days of Hold and hope are waaaaaaaaaaay in the past. Like Dan Sherdan said in class today "nip it in the bud!" LOL
What did you think of LULU?
I like lulu and have used it recently. It is near the top of my list of stock now. With nflx on the s&p, it now has even more institutional holding, therefore should be more stable?
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