Okay, back on my trading computer and I realized I want more monitors. Monitors are so cheap lately. I’m going to get me some monitors. Anyway, I’m a little rusty at trading. Everything moves so fast… well, not really. Considering how low volume is on some of the big caps, the market does seem to be drifting again.
Meanwhile, our GMCR put-call strategy is still in play. If you noticed, whenever a stock drops about 5-7% after a huge run (ie, GMCR), the calls drop hard on the first day, and if it drops 4-6% on a consecutive day, the calls will NOT drop that far. Therefore, if you want, you can buy your calls here. I did plan on “low-80s” so I can wait a few more points. Remember, we already bought our puts in the high 90s in anticipation of a sell-off before 100 psychological spot.
Oh btw, I did sample the iPad at BestBuy yesterday… so irritating! No, not the iPad, all the little kids playing with each iPad on display. They were all playing Mahjong and getting their snotty fingers all over the display. Anyway it’s a great looking device. I can see why Apple’s stock has been rising and rising these past 3 months. It did seem like a giant iTouch, but I can see many useful ways to use an iPad.
So far, one of my favorite iPad related video can be found here. Awesome guy.
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Gio, your GMCR put spread was genius. I sold off when GMCR dropped to 83 – a 12 point move!. Missed buying the calls. Now just sitting and looking for a re-entry point. Nice call!