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Spectrism
5th April 2010, 04:58 PM
Thanks for opening up this area. I hope we can collect some knowledgeable players in this paper trade.

It seems to me that options are a quick way to turn a profit in a volatile market. They are also a way to lose big if you do not know what you are doing. I have dabbled for a short while and have been on losing and winning trades.

What I hope to see is this become a place that we can share some working strategies and score on some almost sure deals. Limiting risk is a key thing. Knowing when to get out is also crucial. And, with a rigged market, is there a way we can read the tea leaves for an advantage?

Anyone interested?

bootstrap
6th April 2010, 08:05 PM
Option are too risky for me as I do not have the skills to be a day trader. However, I am thinking of playing some penny stocks in order to make some paper profits.

optionT
6th April 2010, 08:08 PM
I trade RUT options. These past 2 months have be ridiculous, straight up for the market. I sold vertical calls on RUT for March and got bitch slapped.

Spectrism
7th April 2010, 05:56 AM
I trade RUT options. These past 2 months have be ridiculous, straight up for the market. I sold vertical calls on RUT for March and got bitch slapped.


Not a good time to have been selling calls.

The trend-players have been doing well. The fundamentalists who cannot fathom why this market keeps going are getting killed. At some point, it is likely that this market will roll over.

Spectrism
13th April 2010, 06:58 AM
Where do we find good candidates for options?


One place I like to look is insider transactions-
http://finviz.com/insidertrading.ashx


These don't give definite indications, but they can show the attitude of the company leaders about the future prospects of their company.



What are your ideas for these?

Spectrism
3rd May 2010, 06:46 AM
I picked up 10 put options on BP this am.

Jul 49 sp... at 3.60. BP had bounced up above 49 and stalled. We will see how this goes. Just my gut feeling is that BP could get down below 35 by June.

As the law suits begin to pile up, we will see this stock take some bad hits.


Notice in BP's chart their downward trend already in play. This disaster is just icing on their cake.

Spectrism
7th May 2010, 07:53 AM
Turmoil in the markets. Still holding my puts for BP. The damage they are causing will DESTROY Amerika.... so I cannot see BP getting out of this easily. The oceans will be ruined even if their plans work well.

kregener
7th May 2010, 08:24 AM
Quick! Throw all your money at the..."Market"!!!

Spectrism
8th May 2010, 08:48 PM
With the bad news from BP's failed attempt to slow the flow, I expect to see their stock price drop heavy. I also believe there is a simple way to stop the flow.... although great damage has already been done.

I may take profits Monday if the price is right. The long term damage that they should be held accountable for is beyond counting. But, I don't expect that justice will be done.

Spectrism
8th June 2010, 07:06 AM
Holding puts... not as many as I started with. The lies and misdirections continue from BP.