options trading is like crack

[ahnuld]

Man, you guys gotta get into that stuff. The swings are totally ridiculous. I bought two last week and each is up over 50% in that time. One is a long dated put option (jan 09) on crocs which got destroyed, so that explains the pretty huge move. The other is a short term very out of the money put on the SP500 for dec 22nd. Since the drop yesterday it took off.

Because these things are so volatile you really can only put a small portion of your portfolio into any position. If you like to hold it until maturity you will probably get nothing most of the time with the periodic huge scores. It makes poker swings look like nothing. And its alot of fun to see your hunches work out!

[luckyjimm]

[x] two things

[icanseeyourcards]

ok ... but isnt trading with $ like gambling with playmoney ?

[dlorc]

[ QUOTE ]
ok ... but isnt trading with $ like gambling with playmoney ?

[/ QUOTE ]

Ya, use a real currency.

[[Phill]]

[ QUOTE ]
[ QUOTE ]
ok ... but isnt trading with $ like gambling with playmoney ?

[/ QUOTE ]

Ya, use a real currency.

[/ QUOTE ]

Oooh, snap.

[goofyballer]

What, in case poker isn't degen enough?!?!? Also,

[ QUOTE ]
One is a long dated put option (jan 09) on crocs which got destroyed

[/ QUOTE ]

[PugsMcGee]

if u like crack u should try heroine...it's a degens dream

[john kane]

i agree with ahnuld, i get 3 breaks during work and i can check the internet (not 2+2 though...boo...)

yesterday i dropped $6k, today up $4k, overall last 4 weeks or so up $11k, ill probs end out busto but it really is good fun.

problem is whenever a position goes wrong you wish you hadn't done it, whenever it goes right you wish you'd put more on.

[kcheel]

I tried it a couple of times and went busto each time. Never again (hopefully).

[SukitTrebek]

buying options is for pansies, if you really want to take on risk -- sell puts.