Having positioned myself in about every China stock possible, they are all ripping higher here this morning.
SINA, CTRP, SOHU, YOKU.
If you are looking for something actionable today, watch GMCR. I am full tilt in this stock.
OA
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OA,
I remember previously that you liked BBG to about $25. Is this still the case? Thanks!
Good structure above $24, yes.
GMCR to 80. Woot.
I have NFLX and FSLR lotto longs here.
July 50’s
July 275’s.
Good luck!
really hope you are right, my nflx july 275 is down 60% 🙁
Really? When and where did you buy them?
Like an idiot at the high this Tuesday
With options, it is imperative to buy red sell green. Don’t chase. Anticipate.
Live by that and you’ll make it out just fine.
Usually, I can’t monitor things but every couple of hours. This is the way I avoid buying at the top, but you have to be willing to miss on some great moves. Never buy at market and allow at least 1 month on out of the money. Put in a buy, good at way below bid depending on the stock and expiration, good til selected date. Do that on 10 different stock setups and usually you will get at least one hit. Immediately set your sell once you get your hit, I try to use break even price so the remaining options are “free”. Caveats, OA is the only trader I have seen that makes money on trading options! I also like covered calls and buying with naked puts when I own the stock.
Hope this helps,
Out
I hear you. I bitched all day about missing NFLX, all because I missed the low and the options move .25 on me. Watched them do 150% without me yesterday
May be a little bit crazy here, but what do you think of trying to pick up YZC near it’s potential low?
OA what time frame do you watch intraday?
I watch tick charts.
This is because I am a fairly high strung individual.
appreciate the response, especially during mkt hrs. How do you avoid selling too early, etc when watching tick charts?
With short dated options, selling into strength is a good thing. I’m early on a few here and there…but I get my target prices on higher time frames.
Again thank you. Also thanks for CTRP, almost a double for me here. Cheers
What’s your target on CTRP. I already have a nice profit.
What is your strike or sell point for GMCR? Thanks
With any luck, I will sell at the high.
OA, gmcr looks great, thanks. Options are pricey. Are you long the common?
No, I have three different call positions here.
What’s your target for GMCR for this week? i’m looking to get out at 75. already took a huge winner and got back in the lotto’s with ya =D
Wow, OA. That’s the longest hot hand I’ve ever seen, kudos!
Picked up some GMCR week 4, 77.5 at 0.46 this morning. And holding some X Aug 19 also bought at 0.46. Mental stops at doubles, firm sell at triples, since I can only check on things every couple of hours. Is there a better way to do it?
If this works out, I may even make up for my loss on NBG…
Thanks, you the best!
Out
Oh man, you lost on NBG? Did you mention that because I was in it?
NBG was a monster winner.
Well you managed to turn it to a winner. I thought it was a good price long term at the time and hold a paper loss. My foolish choice, but maybe it will come back since there has to be some kind of bank there, no matter what?
Should I get out to get better use of the money now?
Thanks,
Out
Oh, you are still in?
Yep, that was a bad idea from the price now, unless I “average” down as the “Fly” likes to do? Everything I’ve read says never average down, but the “Flymaster” makes plenty of $ that way….
Thanks,
Out
Don’t average losses in options.
I like your idea of selling profits, btw.
Sold Aug. 17 $CTRP call @ 2.55 from 1.35 and $CTRP @ 36.44 from 32.56
Just booked SINA July 57.5 calls for $5.35.
Long at $.88.
+500%
just another day at the office!
ha ha
very nice win
Thanks breh.
Hope everyone is making a few bucks out there.
so you are out SINA?
Read above, yes.
Thanks–you think SINA reverses from here?
No idea. I just wanted to sell into this breakout.
Thanks OA awesome job on the 500% gain–maybe someday I will do that
Hi OA,
Great job with everything. Thanks for all the work!
Do you still like RKUS a lot? Is this a good buy spot?
Thanks!
Yep, still like RKUS. Let’s sit back and let it work.
OA
SINA only 500% slacker…just kidding..an obvious option savant ..jeez …that was nice
It’s fun to monitor the percentage of capital allocated to options, stocks, cash, etc before and after a monster move like SINA or BIDU or GMCR and then again after you sell it. It’s really interesting to see how quickly your cash position as a percentage can dwindle as you take more positions and then positions blow up. Then watch as cash % skyrockets again as you take profits from your oversized positions.
True. Ought not to let positions blow up on you.
CHINA MAN LOOKING GOOD!
R.O.R!