OFFICIAL STOCK MARKET & ECONOMY THREAD VOL. SCHOOL'S OUT

[lazyj10]

I'm no economist by any means, but isn't the unemployment a lagging indicator?

 

[andycrazn]

i forgot what it was but they use a different number for unemployment recently to make it look alot better than it really is.

 

[vjetti]

Any of u guys trade options moreso than stocks? Few days ago, I was looking at Goldman call options rather than buying the stock, to put less capital down. Iended up just buying shares cause I didn't have approval on my E-trade account for buying naked calls (do now tho). I'm up about $115 on a 3Kinvestment, which is ok but not that great. However if I had been able to buy the call option I wanted, GSGI, I could've made something like a 100% returnsince that option's price went from 5.10 to 10.74 today as the underlying stock's price went up

. MAN I missed out.

So my question is..why doesn't everyone trade options?? I'm sure most of you are in this for a big return on small investment (aren't we all). Nowthat I got that approval I needed, I plan on playing with options mostly to see if I can pull returns like that off.

Related note, anyone trading JPM? I'm assuming they'll have big earnings numbers tomorrow as well, the CEO's even coming on CNBC to talk it up(they only come on when the earnings are good). Think I'm goin to go get some of the 35 strike call options, hoping it pops by Friday.

 

[bijald0331]

^i thought they said the CFO is coming on, not the CEO, Jamie Dimon?

 

[andycrazn]

Originally Posted by vjetti

Any of u guys trade options moreso than stocks? Few days ago, I was looking at Goldman call options rather than buying the stock, to put less capital down. I ended up just buying shares cause I didn't have approval on my E-trade account for buying naked calls (do now tho). I'm up about $115 on a 3K investment, which is ok but not that great. However if I had been able to buy the call option I wanted, GSGI, I could've made something like a 100% return since that option's price went from 5.10 to 10.74 today as the underlying stock's price went up

. MAN I missed out.

So my question is..why doesn't everyone trade options?? I'm sure most of you are in this for a big return on small investment (aren't we all). Now that I got that approval I needed, I plan on playing with options mostly to see if I can pull returns like that off.

Related note, anyone trading JPM? I'm assuming they'll have big earnings numbers tomorrow as well, the CEO's even coming on CNBC to talk it up (they only come on when the earnings are good). Think I'm goin to go get some of the 35 strike call options, hoping it pops by Friday.

options are very risky imo. you have to hit the strike price before you can execute the option and its worthless if it doesnt. then theres theissue with the expiration dates. the only thing good about options imo is the leverage it has.

 

[teddy jam]

JOSB

In @ 31.8185
Out @ 35.26

 

[lazyj10]

Originally Posted by andycrazn

Originally Posted by vjetti

Any of u guys trade options moreso than stocks? Few days ago, I was looking at Goldman call options rather than buying the stock, to put less capital down. I ended up just buying shares cause I didn't have approval on my E-trade account for buying naked calls (do now tho). I'm up about $115 on a 3K investment, which is ok but not that great. However if I had been able to buy the call option I wanted, GSGI, I could've made something like a 100% return since that option's price went from 5.10 to 10.74 today as the underlying stock's price went up

. MAN I missed out.

So my question is..why doesn't everyone trade options?? I'm sure most of you are in this for a big return on small investment (aren't we all). Now that I got that approval I needed, I plan on playing with options mostly to see if I can pull returns like that off.

Related note, anyone trading JPM? I'm assuming they'll have big earnings numbers tomorrow as well, the CEO's even coming on CNBC to talk it up (they only come on when the earnings are good). Think I'm goin to go get some of the 35 strike call options, hoping it pops by Friday.

options are very risky imo. you have to hit the strike price before you can execute the option and its worthless if it doesnt. then theres the issue with the expiration dates. the only thing good about options imo is the leverage it has.

Who is actually exercising the options? You can still sell the contract, regardless of the strike price.
Playing earnings ahead of July's expiration is a risky move, but then again, the risk is what pays off.

GS had a ton of activity around 140-150 on the calls and some puts during the week.
GOOG has had a ton of activity in preparation for their earnings.

I would agree that JPM will probably be a good play based on the press they've gotten and paying back that TARP.

 

[uncleo28]

Is there any online brokerage in which you can day trade without an 25k in the account?

 

[vjetti]

Indeed JPM is a winner bank like Goldman, I expect a pop. I just bought 10 call option contracts @36 strike with a 1.02 premium. So it's basically in themoney as long as JPM stays above $37.02. Andycrazyn, your assuming I'm holding onto the option until expiration. Granted expiration is on Friday, whichis cutting it very close, but I plan on selling the options by EOD tomorrow (hopefully at some kind of decent profit).

 

[throwedindagame]

Yall think FAZ/FAS will still run thurs and Friday due to JPM and C earnings?

I'm thinking about shorting FAZ.

 

[lilchico4life]

I'm not sure if there is much more fuel left in this rally. Lets see how the news on CIT is received...

http://www.cnbc.com/id/31926789

 

[teddy jam]

day of red i reckon

thinkin of getting in BAC on a dip today ...already down 2% atm

 

[nicefro]

out all day yesterdqy missed the opportunity to get out of AN @ 18.10+

 

[desent]

Originally Posted by uncleo28

Is there any online brokerage in which you can day trade without an 25k in the account?

 

[andycrazn]

im gonna take a rest from the market for a while. i broke my arm and its really hard to adapt to everyday things.

LazyJ10 yea i keep focusing on exercising the option. is there less gain when you do that?

 

[lazyj10]

Me personally, I don't bother with exercising them, I'm not into options to build shares of stock. The contract themselves are a fine tool to trade, amore common derivative. Honestly, I don't even know how to go about exercising the option for the block of shares. If you had a lot of capital, it seemslike it would be a good tool to use in order to have a lower basis in the equities especially if you're looking long term.

I try to be in and out of options quickly, unless I was extremely speculative and they didn't cost me crap (ie - Jan2010 calls).

 

[oh you mad]

Have any NTers made big money in this thread?

 

[lilchico4life]

CIT
50K Shares
In @ .39
Out @ .55
$8K baby!

 

[ieternalv]

Originally Posted by andycrazn

im gonna take a rest from the market for a while. i broke my arm and its really hard to adapt to everyday things.

damn son, i just tore one of my rotator cuff muscles (again) this weekend. hope you feel better.

i woke up too late to do anything, i think ill go enjoy the beach today

. however, MA has been looking great the last week or so.

 

[lilchico4life]

Originally Posted by desent

Originally Posted by uncleo28

Is there any online brokerage in which you can day trade without an 25k in the account?

Don't think so.

 

[nicefro]

definitely not. thats an sec rule.

chico, whats your take on AN

 

[lilchico4life]

Originally Posted by nicefro

definitely not. thats an sec rule.

chico, whats your take on AN

AN looks to be a hold. Good support near $16 though I would say. It'll probably dip and then continue on its uptrend. Could possibly get in cheaper.

 

[scarface2k1]

chico - whats your take on jmba?
ive had it since june 1st @ 1.08, and i am feeling speculative on it.
any thoughts?

 

[lilchico4life]

Originally Posted by Scarface2k1

chico - whats your take on jmba?
ive had it since june 1st @ 1.08, and i am feeling speculative on it.
any thoughts?

IMO, you should've sold in the 1.30's. Support near 1.04. Daily RSI ticked downwards. MACD crossed 0 to the negative. 20dma looks to be heading down.If it crosses 50dma, this can go much lower.

 

[freakydestroyer]

Originally Posted by LiLcHiCo4LiFe

CIT
50K Shares
In @ .39
Out @ .55
$8K baby!

I'm not trying to jinx you or anything but, do you ever lose?