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Invest-AGE : GAF 100k Investopedia Challenge

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Damnit, I can't make the right moves on anything today, hopefully the afternoon will go better. Down a couple hundred already.
 
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GILD is kicking ass for me today.
 
Sitting at just under $14k. Had a few nice payoffs today, and a couple that busted today but might turn out ok by the time they mature on 10/20. Still think BBY will be in the 16-16.50 range by then, and ARQL and SIRI (which is close to being in the black) will be good to go at that point.

Had my EXPR puts gone through this morning I'd have been looking at a $6500 profit on a $1000 investment....instead I only came away with about $400.
 
Guys, I literally know nothing about stocks but this seems interesting. Can I still join?

EDIT: Welp, I joined. Time to start fucking up.
 
I'm kind of just letting my portfolio sit as is for now. I am hoping Microsoft stock climbs this month so I don't lose money on my one existing option...
 
When I try to sell something and select the option "good til cancelled" why doesn't it stay in some selling queue until it gets sold? How am I supposed to sell stocks that don't have a lot of trading volume unless I'm sitting there watching the market all day every day? fuck.
 
Timedog said:
When I try to sell something and select the option "good til cancelled" why doesn't it stay in some selling queue until it gets sold? How am I supposed to sell stocks that don't have a lot of trading volume unless I'm sitting there watching the market all day every day? fuck.
Click to expand...

It'd be nice. My biggest complaint is that the volume rule murders me nearly every morning when I try to purchase options because there is 0 volume for the day so far, and my trades end up being canceled in the first 15m.
 
shoplifter said:
It'd be nice. My biggest complaint is that the volume rule murders me nearly every morning when I try to purchase options because there is 0 volume for the day so far, and my trades end up being canceled in the first 15m.
Click to expand...

whats the volume rule?
 
I keep buying shit stocks.... and by shit stocks, ones that have a huge gain one day, I hold onto them too long and then they seem to not be trading anymore because they gain nothing and I cant offload any of them... so they sit there... 0 value... I've got two like that... they gained big the first half of the day when I bought them, now I cant get rid of them because they aren't trading.
 
^^^ are you selling at market or setting limits? I try to sell as soon as I think they've peaked. I'm not in the game to play safe 10% return over 12m, I want that or more in a day. Don't wait, just be aggressive, and don't be afraid to cut your losses either. Look into the limit/stop rules as well if you are having issues with having to babysit your holdings.

You can only purchase up to a certain percentage of the current day's trade volume. If you look at the option quotes for BBY

http://www.investopedia.com/markets/stocks/bby/options/#axzz283MjxSE9

you can see that the day's volume for calls at 16.00 is 54. That means you could only buy 13 contracts.
 
Do you guys research stocks with earning releases for the next day, hoping for a big move?

My macro view is taking too long to materialize.
 
I wouldn't say that I do tons of research - sometimes you can catch something like SRPT at the right time. It went up *so* much that even catching it at $30+ I still was able to make a very nice profit.

Options just increase your profits by *so much* when you hit with them. In my case SRPT was at something like $34 when I bought in and $30 call options at the same time were still in the mid $2 range. Given the jump it already had, I figured it was worth the gamble on the calls. The worst that could happen is that I end up taking a small loss through a limit sale, but the upside was huge.

I do tend to checkout google finance every morning (that's where I caught SRPT, even though I was late with it) and a few other random sites. Might be a great idea to find a few specific sites yourself that you rely on and use those as your base. Maybe specialize in one or two fields that you know a lot about or are interested in.
 
vDaedalus said:
Yea how do you guys know which stocks/options to buy? I would never think to invest in a company like RIMM or SRPT
Click to expand...

For me, I look for stocks that are between $5 and $50, and also have a many ups and downs throughout the day, and I just try to buy when it looks like it has hit a valley and short sell at a peak, then sell or buy when I can get at least $20 profit from it, rinse and repeat throughout the day. Stocks that I have had success with are UVXY, NOW, and ABFS. If that is failing I look at the biggest losers and winners of the day, and try to make a judgement call on whether or not to buy or short sell them. I also look at what other people in our group are buying/selling and making a judgement call to follow them or not.
 
Another thing that I'll do is try to find options for those volatile equities you mention. As you get closer to the option expiry, they get cheaper and cheaper, especially if they're not in the money.

You can exploit buying very cheap options on these equities (sometimes .10 or less per, so $10 per contract!) and dump them when they are in the money. Because you're buying in volume, the swing will be that much bigger for you. The lower the price on the equity, the lower the risk, and the higher the reward potential. I'm doing this one with SIRI right now, and did it with AAPL and GOOG on Friday - AAPL and GOOG options were expiring that day, so the volatility was a blessing.

You can try the same thing this Thursday and Friday with options that are expiring on 10/05. Not every equity will have these available though. AAPL and GOOG do, iirc.

I'm currently sitting on 65 SIRI contracts for calls at 2.50 strike that expire on the 20th. I bought in at a .17 average, and they're up to .21 right now. That's only .04 per call, but multiply it by 6500 and it turns into real money. I'm willing to let those ride for a while still, but late next week I'll be setting up a limit sale to divest if they go back to .17, to minimize any loss and/or break even if SIRI gets swingy.

edit: market closed

JXUG
 
I made a boatload of money with Netflix and Sprint today.

edit: No, a small raft.. a small raft held together by twine.
 
Someone tell me if I understand this correctly. If I expect a company to drop a dollar tomorrow would I want to place a put for the amount I think it will drop to?
 
American Eagle making some money for me today:
Sell AEO1220J21.5 2012/10/20 Call on AMERICAN EAGLE at $21.50 5 $0.45 $0.75 $375.00 -$25.00(-6.25 %) $150.00 (66.67 %)
 
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