Positions Thread

[Jimbo]

Now own 3 Nov 100 calls on GRMN (RZJKT) AT $6.30 each for a roundtrip trade cost of $6.46 each or total investment of $1939. Will unload these at a target price of $9 each though I do not have a sell order in here, will monitor them closely and pray for a $15 to $20 spike back to $115 or $120.

Jimbo

[Jimbo]

[ QUOTE ]
Sold my GYPWA (GS $250Puts) at $13.30 so no I did not double my money but it was close enough for me. Total profit after comissions of $1602 in less than one trading day.

Hope my earlier explanation was sufficient CrushinFelt
.

Jimbo

[/ QUOTE ]

Ha Ha, looks like I was a little impatient, to say the least. These sold for as high as $24 per contract this morning, only left $3000 or so on the table. Well just like poker you forget that river value bet ocassionally I suppose.

Jimbo

[Jimbo]

[ QUOTE ]
Since I am on an options roll I just bought 10 contracts, Microsoft $37.50 puts at $.93 each for a total round trip cost of $1000 even (well OK actually $999.90). I have a sell order in for these at $1.60 and hope to see that happen within a day or two, perhaps today but I have two weeks to work with anyway.

Jimbo

[/ QUOTE ]

Got up first thing this morning and cancelled my limit order on these, sold them at $1.51 each and am satisfied. May try to catch MSFT back on the upswing after it drops a bit lower. Plus $510.00

Jimbo

[CrushinFelt]

You seem to be on a roll. Any not-so-hot trades you've made? ;p

[CrushinFelt]

[ QUOTE ]
wtf... there has been so much good news.. this recession [censored] is gonna be a self-fulfilling prophecy. Even the real disposable income numbers were really, really good. As soon as I free up the cash from my mutual fund I'm jumping into AMD, DELL, and maybe a retail ETF (which has been getting hammered all year).



[/ QUOTE ]

Just cross-posting that in this thread.

also note that I'd prefer to buy some Jan 09 options on these but Charles Schwab is a piece of [censored] and aren't giving me approval for Level 1 (aka being able to go long options and options strategies). Bunch of pieces of [censored]. Most of my job is analyzing options/futures strategies and quantifying their downside risk. I THINK I MIGHT BE ABLE TO HANDLE AN AMD CALL OR TWO.

pricks

/rant

[ahnuld]

meh, the market was at the same level as it was in early july, even after all the subprime crap. It was pretty overvalued overall so to me this week of going down despit the fact of pretty solid numbers is just people getting closer to realizing the true value of some of these companies. And in regards to consumer spending, it probably will start to drop pretty soon, like 3-6 months, but I think expecting it to drop now when housing prices are only now (last 2 months) really starting to drop heavily is expecting people to react too quickly.

[Jimbo]

[ QUOTE ]
You seem to be on a roll. Any not-so-hot trades you've made? ;p

[/ QUOTE ]

Sure, my trade on ETFC posted in this thread, I bought BAC waaayyy too soon but added to my position to cost average down and may add some more today. I got in a bit too early in SIRI and XMSR but they are trading higher today on some very good news. You can call my GS put trade not so hot since I only made 30% of it's potential.

Since this thread started I have posted all my trades of any major significance and have not omitted any losses just to look like a savant. [img]/images/graemlins/smile.gif[/img]

I started a new post to concentrate on 3 spec stocks I like (and own) Smith and Wesson, Las Vegas Sands and an IPO, symbol GA.

About the only positions I haven't posted are pretty small, I own 500 shares of UMC purchased at $3.57 per share. This one I just took a flyer on hoping it recovers with the chip stocks in general. Also in this Vein I bought 300 shares of Sharper Image when it dropped below $2, wish I had bought 10 thousand of these shares instead. [img]/images/graemlins/smile.gif[/img]


In summation I am still long BAC, SIRI, AUY, UMC, SHRP, NAT and NILE (making money hand over fist selling covered 85 calls on NILE). Oh yeah, I bought and sold 100 shares of Scandisk and made $2 per share but again did not consider it a major play worth listing.

Have short term positions on LVS, GA and SWHC, will exit these with profits whenever the whim strikes me, no real specific price targets on these yet. Also hope to exit both my option positions on GRMN today even if I just break even it did/does have a lot of potential.

Am trying to figure out how to profit on the Writers Guild strike, if anyone has any idea on this I am all ears.

Also since I am a glutton for punishment I will try to buy back into ETFC if it gets back to $9.25 per share or lower today, if so I will post in this thread.




Jimbo

[ahnuld]

does it make sense if I buy cemex for long term but am worried about it [censored] up in the next 3 months so I buy calls? I mean, should I just buy in 3 months then and save the commission or is that trade standard when you arent 100% sure of your convictions and think things could go wrong very quickly?

[Jimbo]

What is the stock symbol ahnuld? I'll look at it real quick if you want.

Jimbo

[ahnuld]

cx