waingro1's  Instablog

Send Message
In the beginning there was thought
  • Derivatives/Options Trading 0 comments
    Apr 4, 2011 4:51 PM | about stocks: WHR, DNDN, GM, OVTI, RVBD, BA, CCJ, BBRY

    Ok, so good day in the market after a weekend of sweating it out on my first options trade ever.  Of course not looking at risk levels I bought naked puts, probably will not do that for a overnight hold again.  I took WHR Apr 11 $85 puts at $1.66 per last week and sold them today at $1.82 for a net profit to my portfolio of 7%  I started paper trading a few options today to see if I am any good at picking based on intraday action and chart analysis.  I am definitely more comfortable with an options day trade then holding it overnight, especially in the current market environment.  That being said I held my portfolio in cash tonight to setup a couple day trade verticals to continue practicing over the next few days.
      Paper trades today:(some these were higher but this is paper so i'll do the bid at close)
      DNDN Apr 11 $38 PUT @ $1.25 -> cover at close $1.56 (up almost 25%)
      GM Apr 11 $33 CALL @ $0.45 -> cover at close $0.40 (down 8.8%)
      OVTI Apr 11 $33 CALL @ $1.45 -> cover at close $1.70 (up 17.2%)
      RVBD Apr 11 $34 CALL @ $1.20 -> cover at close $1.25 (up 4.1%)

    Three out of Four isn't bad, and I should know better on the GM, stay away from companies with bad books.  All positions were taken at the time I first looked at them and normally would have decided to get into them.

    The Next three I will be tracking based on some longer signals, so far all three are dogs.
      BA May 11 $75 CALL @ $1.80 -> 
      CCJ May 11 $31 CALL @ $1.95 -> 
      RIMM May 11 $52.5 PUT @ $1.76 ->

    That's it for today.  Happy Hunting.

Back To waingro1's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • AAPL really needs to test $435 tomorrow so we can see if we are going lower or bouncing
    Feb 4, 2013
  • GOOG at all time highs, look for some flatness or range bound this week. if GOOG continues to put in upward movement lookout for a pullback
    Feb 3, 2013
  • This market is going to log a full week of downs
    May 17, 2011
More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.