Seeking Alpha
  • Ocean Man
    Bought $GS weekly $150 calls for $5.40 with stock at $155.27. $13 per contract of premium controls 100 shares for $15,000 (96%) less cost.
    7/10/13
    Reply (8)
    • Ocean Man: And limits your downside.
      7/10/13
    • weed: Looking for a Fed bounce?
      7/10/13
    • Ocean Man: Yep.
      7/10/13
    • neobliviscar: Like my Cousin Vinny says, "Nuice!!"
      7/10/13
    • ChrisGriffith: OM just curious but why did you pick $GS for this play?
      7/10/13
    • Ocean Man: I look at a lot of indicators, and they were lining up for GS nicely. Also due to a lack of anything similar already in my portfolio.
      7/10/13
    • ChrisGriffith: Gotcha. Have you ever looked at buying UVXY puts due the to decay and negative roll yield, or avoided doing it since the premiums are high?
      7/10/13
    • Ocean Man: Selling calls works better than buying puts. Get 2 kinds of decay working for you.
      7/10/13