Comments on: Sold SFLY Uncovered Calls

By: Alex Fotopoulos

Alex Fotopoulos — Fri, 29 Feb 2008 22:42:33 +0000

I’m completely happy with it sticking around 15-16, even 17.49, I just don’t want it above 17.50. You have a good point though. I’m not selling calls any lower than 17.50.

By: Zach

Zach — Fri, 29 Feb 2008 13:03:26 +0000

I actually like SFLY as a long position in here although I admit the technicals need to shape up before I would put money into it. One thing to note is that the original IPO was at $15 and that level will likely serve as support. Underwriters hate to see a name that has previously been successful break below that IPO range and will likely step in and support the stock buying it in here. - Not trying to talk you out of your position - just food for thought.

By: Alex Fotopoulos

Alex Fotopoulos — Thu, 28 Feb 2008 00:48:25 +0000

I’ll consider selling a FWLT 60 if I see it flattening out better. It’s at the point now I thought it would. Now I’m just waiting to see if I’m right. At least I didn’t go in heavy to start with like I did with NVDA and MOT.

By: Options Strategery

Options Strategery — Wed, 27 Feb 2008 22:46:54 +0000

I am glad you are trading small. Daytrading is too scary for me. And I am pretty risk tolerant (given my knife catching strategy). Good luck.

By: Kadena

Kadena — Wed, 27 Feb 2008 14:08:33 +0000

commissions in TOS are 1.50 for option contract, for buying and selling, so you’re right, take out $3 for each $100, or in a .10 cent move take out .03 cents/my volume is low while i’m working out how i do these — will use stops in the future, also

By: Alex Fotopoulos

Alex Fotopoulos — Wed, 27 Feb 2008 12:55:02 +0000

Kadena, what kind of volume are you trading to make money on $0.10 moves? How much are your commissions?

By: Kadena

Kadena — Wed, 27 Feb 2008 01:55:45 +0000

Tuesday market. bought QQQQ calls for .72, sold for .82. Bought QQQQ puts for .96, sold for 1.10. This was a good day, however, keep in mind I am very early into my new daytrading. Only had about 6 trades to analyze, found some mistakes, and going to track next batch of trades to come up with overall results.