Seeking Alpha
  • Ocean Man
    The GOOG Oct $730 puts I bought on Friday for $7.70, just sold 'em back for $11.90. I realize this is convoluted, but it's basically buying
    10/11/12
    Reply (8)
    • Ocean Man: a strangle, adding to the losing side on a price move, then adding to the other side as the price swings back. Then on exit, you sell the
      10/11/12
    • Ocean Man: calls on rips and sell the puts on dips. Sold calls w/ stock at 758 this morning, sold puts w/ stock at 750.50 just now. Calls were bought
      10/11/12
    • Clayton Rulli: Sounds like an article is due on your strategy. I like
      10/11/12
    • Ocean Man: as low as $8.50 w/ stock at 744 on Tuesday, sold for $11.30. Puts were bought as low as $7.70 on Friday w/ stock at 774, sold for $11.90.
      10/11/12
    • Ocean Man: All the while I'm (mostly) hedged and IV gains as earnings approach offset time decay. Essentially this is buying strangles at $16.20 and
      10/11/12
    • Ocean Man: selling them at $23.20 for a gain of 43% in 4 days, offset a bit by the original strangle being down a bit (about 6% with about 1/3 weight).
      10/11/12
    • caddy311: ...opening my mind to all of the possibilities out there - thanks OM
      10/11/12
    • adawg304: head spinning
      10/11/12