Seeking Alpha
  • J Mintzmyer
    $OCZ closing down fast! Likely only 1 or 2 more days until my 50c puts payoff.
    12/10/13
    Reply (14)
    • ChrisGriffith: Been watching it, looking good to get out at .45 for the puts
      12/10/13
    • J Mintzmyer: Hoping to get out tomorrow. We'll see though.
      12/10/13
    • jd7: this worked out to be a wonderful trade. However, it has the largest transaction cost to return ratio I've ever experienced
      12/11/13
    • ChrisGriffith: JD what are you referring to? If you bought the 50c puts at 35 and sell at 45 that's a pretty good cost/return ratio in my book
      12/11/13
    • J Mintzmyer: Not out yet, but it's looking like later this afternoon or tomorrow morning 45c will be filled. OH requires 5c increments which is annoying.
      12/11/13
    • J Mintzmyer: If it wasn't for those rules, I'd probably hold out for 46 or 47c. Return will be approximately 28% (10c gain/35.5c cost) in two weeks.
      12/11/13
    • J Mintzmyer: I think JD7 is referring to the commission impact due to the fact the options are 50c a pop. OH charges 15c a contract + $8.50.
      12/11/13
    • ChrisGriffith: Totally agree. I hate the 5c increments rule
      12/11/13
    • jd7: that's right. I'm paying a hefty 9.95 + 1 dollar a pop. But given the super low risk and fast timeline, I should stop complaining
      12/11/13
    • ChrisGriffith: Yeah mine are 75c a pop
      12/11/13
    • J Mintzmyer: That's a huge commission for both of you! Guess it's not a big deal on things like $AAPL and $NFLX... Can hardly sell c-calls tho!
      12/11/13
    • J Mintzmyer: 5c rule is a how OH makes up for their cheap commissions. I don't think Scottrade has it... They profit from all the spreads.
      12/11/13
    • ChrisGriffith: Wow got so close to $.055 and total rebound
      12/11/13
    • J Mintzmyer: Extremely low volume, it's already falling back apart.
      12/11/13
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