Another thing I did once that was kind of interesting is I really wanted to short a stock but there was none outstanding to short. So I bought a put that was about to expire just in the money and on Monday they had to assign me the shorts. I am a little fuzzy on the exact details because it was a few years ago, and it wasn’t for much money and I had the cash to cover. It was just my way around of getting shares to short. I felt pretty smug about my workaround. I don’t know if I would try it again though. I don’t short very often.
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If you do this and your broker doesn’t find any shares to borrow after your put gets assigned, which is pretty likely if they didn’t have any for you to borrow for shorting originally, you’ll be forced to buy back the short position within a few days of the options expiration. This is not a good position to be in.
I agree. It was a small amount and was easily covered by cash. I was mainly just peeved off that I couldn’t short something I wanted to.
Would selling a deep ITM call have been equivalent? (With exception of no assignment, etc). Or a MM wouldn’t buy it in that situation?
Can one of you recommend a crash course on options trading? I’ve watched khanacademy, those just explain the math, not the process / mechanics.
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Time to pick a few more shares of some companies I plan to hold.
I liked the pullback so far.
bought 20 more of the 190s at 1.50. I will keep a very close eye on these. I will be out of most of the calls expiring tomorrow by EOD today.
What are the expected profit for 1 contract on these 1.50 purchase (150 total for 1)?
To lose half your money, if you are lucky.
I sold 30 at .81 and I bought 20 March 2 190 calls at 3.40
for short date BABA I have expiring tomorrow 10 182.5, 10 190, and 20 190 expiring next week. I also have a bunch of long dated calls I bought a week or 2 ago.
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I called Scottrade and asked. But my transaction history on my online account did go all the way back to 15 yrs ago.
out of the last 10 at 9.90 Holding 10 190s expiring today that I will sell soon. I guess I shouldn’t have sold 30 of them yesterday, but if wishes were horses…
ETA: out of the last 10 190s at 250. Lost about 4,300 on those. If I didn’t sell yesterday I would be up on them, but you have to have SOME risk management. I am done for this week. Have my 190s I bought yesterday for next week and some long ones. Overall another good week for me.
If you all want me to stop posting trades I will. If there is a better website let me know. If others want to join in posting trades, please do.
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No please do keep posting. I have temporarily stopped trading options due to some personal issues, but will be back doing so soon. Following along is good form.
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I am reading this actively. Thanks a lot.
02/26/2018 Buy to Open 20 Contracts BABA Mar 02 2018 190 Calls Filled at $4.40
The BABA ride might be coming to an end soon though.
You are the baba bull. I’ll put a limit to buy expiring today for 3.75 in the same position.
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Anyone here with apple have a “fair value” in mind? I’m thinking if a reduced position if/when it were at ~$210 now. I probably won’t think that $200 will be a psychological threshold and push it quickly a little higher. $201 will also be at the $1T market cap and probably get a lot of press.
I’ve got ~1 house of AAPL stock.
Out of 20 at 5.10. Right at EOD. did you get in?
i got the same deal from Schwab last year … 11y free trade from moving my Scottrade account
I’m waiting to break even on my index fund still, bought at the the top.
02/28/2018 I bought 20 more at 3.91
ETA: 20 more at 2.50
ETA2: No bueno, but it is only Tuesday.