aggie028 said:

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I think the volume on your chart is wrong.

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CNBC shows 13.9M shares vs a 10 day avg of 14.6M.

Micron also announced a $10 B stock buyback this afternoon after hours........

cgh1999 said:

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aggie028 said:

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I think the volume on your chart is wrong.

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CNBC shows 13.9M shares vs a 10 day avg of 14.6M.

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Thanks....yes I had a lot screener on. Doh!

aggiehunter3 said:

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oldarmy1 said:

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AggiePeeps06 said:

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Couldn't you just sell calls against the holding instead of selling the actual holding?

I'd hate to sell 50% and miss out on a continued rally

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Depends on the number of shares you planned to carry longer term. If you have 300 shares then you wouldn't do a thing. If you owned 10k shares you might sell a covered call against 25%-50% of your holdings. When you accumulated 145k shares with a goal of holding 50k longer term you do any of the above, including straight selling, up to 95k shares.

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What would be your strategy on LEAP calls? I started trading options in February, so still pretty new. I've mainly bought only weeklies or a couple weeks out so far. My basic strategy for exiting is to sell 50% at a double + commission in order to take all risk off. The tricky thing for me is determining my sells for the other half of the positions. I've caught some big runners in recent weeks (baba, aapl, bidu, chk), but have had a tendency to sell a little early.

Here's an example with CHK: last month - I made a small bet 100 contracts $4 strike 7/20 expiration .10 premium when the stock was trading around $3. Earlier this week I sold 50 contracts at .24, I sold another 20 contracts at .53, so now I have 30 contracts remaining. Even if these expire worthless I'll net $1k gain off the trade. Of course I'm sitting here kicking myself now for selling the first half so soon, as I missed out on ~$2k on the spike to .7 this morning.

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Remaining calls are now .84 from my .1 entry with 2 months until expiration. I love options.

My other open option positions:
1. 1/18/19 EPD $30 calls .80 premium (large call sweepers in these calls- 25k open interest following "smart" money)
2. 6/15 CL $65 .35 premium (looking for an oversold bounce)
3. 7/20 LPSN $20 .5 premium (overbought chart but in breakout mode - looking for continued momo into next q earnings)
4. 5/25 XLI $77 .1 premium - sold half today at .25 chart busted through lower high resistAnce

Another sector that is going to continue to explode is the screening kit manufacturers and labs that receive them.

In fact if anyone on here has access to Tricare Select and Prime data I would be interested in discussing it.

SWN $4.83

Tariff debate all you want but check out auto manufacturers. Proof is in the money and so are GM and F Call options.

Bet on Trump. Where have I heard that before?

CSCO and all posted option trades will be giving a premium pop today. The markets continue that pivot point move upwards.

BAC June 15th $32 calls are one of my "now that even casual observers can see the trend" lagging entry opportunities.

No claim of timing the markets given.

oldarmy1 said:

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BAC June 15th $32 calls are one of my "now that even casual observers can see the trend" lagging entry opportunities.

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Really new to this, can you expand on this statement? I know enough to understand the June 15th $32 calls.

Big Cat 05 said:

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oldarmy1 said:

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BAC June 15th $32 calls are one of my "now that even casual observers can see the trend" lagging entry opportunities.

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Really new to this, can you expand on this statement? I know enough to understand the June 15th $32 calls.

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Certainly. I'm saying it dropped back below $31 on the market consolidation last week and did not participate on the upward move, but it is very likely to. Entering those $32 Strike price options with BAC under $31 would give some nice premium pop as it catches up.

People are going to be able to "plant" a net free CHK holding as it approaches $5. Amazing move towards the double. Yeah-yeah I said in the next year it would double - so shoot me!

Old army, once the Dodd frank rewrite passes do you see the whole financial sector getting a lift?

We bounced off mid-channel yesterday. We haven't played on the upper band since mid-March. Break through that and we should move within 25380 area on the DOW. Obviously there is no confirmation of a resumption in the bull market so traders should be taking advantage of these opportunities from 2 weeks back to that mark.

Long term holders could sell some covered calls on a % of their portfolio (if their 401k, SEP, etc. allows it).

I pivot from the covered call strategy into buying cheap Puts out to July instead of risking having core share holdings called out. I will still employ covered call strategy closer to the money on excess trading shares.

leoj said:

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Old army, once the Dodd frank rewrite passes do you see the whole financial sector getting a lift?

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Heck yeah!

Let's see what those June 1st 6 cent $5 Strike SWN calls yesterday bring today.

oldarmy1 said:

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Let's see what those June 1st 6 cent $5 Strike SWN calls yesterday bring today.

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First trade 11 cents. So almost a 100% ROI from close to open.

Only problem is I couldn't get them filled before the bell yesterday.

It's loading time right now on the gap up fill. Signal is shining forth to traders amd investors with it above that nasty resistance.

So if I had gotten it for .06, would you have suggested to hold or take the money and call it good?

OA1, I bought ~ 1000 shares just under $3... I'm still
holding. What is your recommendation, hold for the double? I can stomach a dip if bigger profits are in the future.

AVEO up 8%... any particular reasons why?

Huge insider buys

That sounds positive

what say you said:

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OA1, I bought ~ 1000 shares just under $3... I'm still
holding. What is your recommendation, hold for the double? I can stomach a dip if bigger profits are in the future.

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Then absolutely

jakal0722 said:

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So if I had gotten it for .06, would you have suggested to hold or take the money and call it good?

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I would hold with a $6 investment looking for the home run. Now if you were to have bought 100 then set sell at $0.12 for 50 and ride the rest for net free.

BAC - what a freaking gift early.

Thanks for the info. I've learned as much from watching missed trades as I have from trades I made.

Another attempt to break through that mid channel bounced back. Any consolidation that holds above previous trend resistance isn't a bad thing.

oldarmy1 said:

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BAC - what a freaking gift early.

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My first option buys...taking your advice from a page or two back. Buy 1 and watch it. So, I did it with BAC $31 strikes for Friday at .08 and 1 SWN $5 strikes at .04. Spoiled that the first ones I buy are both up 100% in two hours!

jtmoney03 said:

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oldarmy1 said:

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BAC - what a freaking gift early.

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My first option buys...taking your advice from a page or two back. Buy 1 and watch it. So, I did it with BAC $31 strikes for Friday at .08 and 1 SWN $5 strikes at .04. Spoiled that the first ones I buy are both up 100% in two hours!

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I'm gonna fund you a trading account and let you go to town!

Nice! So I'm up 175% now...as a rookie, again with only 1 being held, how long do I hold out? I'm not worrried about the $8 loss it drops to worthless on Friday (just to familiarize myself with the process), but this is likely to just keep going up at this point, right?

With a Friday expiration I would take BAC when shares hit $31.20. On SWN I'd risk it on the breakout looking for $5.50.

I bought too high on BAC. Did you ever sell the ones you bought at like .30 cents oldarmy?

Same question but 10 call options Jun 15 32 strike. Based on recent conversations I'm assuming you would hold for the near future.

Which publically traded company would profit most from increased use of options?

I already bought Schwab to profit off increased trading but would appreciate the board's thoughts on any other companies that would benefit from this growing trading trend.