ZRod Posted March 21 Share Posted March 21 50 minutes ago, BigRedBuster said: What I'm trying to figure out is if I can place an order that's good for maybe 30 days where if the stock drops 3% in a single day, it buys. Or, if it increases 3% in a single day it sells. So far, it doesn't look like I can do that. I would need to really study the options game before I dive into actual puts and calls. My class on that in college was over 30 years ago. You should be able to set limit orders and stops for specific values. I play with options a little, but it's literally gambling unless you have enough capitol to buy options that are 6 to 12 months in the future to reduce your risk. 1 Link to comment
teachercd Posted March 21 Share Posted March 21 5 minutes ago, ZRod said: You should be able to set limit orders and stops for specific values. I play with options a little, but it's literally gambling unless you have enough capitol to buy options that are 6 to 12 months in the future to reduce your risk. Hahaha! SOOOO TRUE! I was just saying that to a friend! Last Friday I bought an option on SMCI that expired that day! It did not end well for me! 1 Link to comment
ZRod Posted March 21 Share Posted March 21 9 minutes ago, teachercd said: Hahaha! SOOOO TRUE! I was just saying that to a friend! Last Friday I bought an option on SMCI that expired that day! It did not end well for me! Yeah... Never buy 0dte or around earnings. I've learned that lesson the hard way several times. Link to comment
teachercd Posted March 21 Share Posted March 21 1 minute ago, ZRod said: Yeah... Never buy 0dte or around earnings. I've learned that lesson the hard way several times. I can't remember for sure but I needed it to go up like 20 more dollars...then it just collapsed in the last 45 minutes of trading. I think I bought that for 275 and sold it for 20. 1 1 Link to comment
Archy1221 Posted March 21 Share Posted March 21 1 hour ago, teachercd said: Dude, the ride with those 3 and a few others has been insane! I bought and sold SOUNW so many times in a short amount of time that my lame account got "Flagged" as being a day trader! Haha If you have more than $25k in your account this shouldn’t be the case. You just need to make sure your account set as a margin account. 1 Link to comment
Archy1221 Posted March 21 Share Posted March 21 1 hour ago, teachercd said: Anyone got any stocks they like right now? I’ve been in ELF for awhile and been good for me. I think it has room still to run another 15-20% this year 1 Link to comment
Archy1221 Posted March 21 Share Posted March 21 1 hour ago, teachercd said: Might as well, right? There is money to be made! And now with basically no trading fees it makes it super easy to make some extra cash. I have been messing with some calls/options and I suck at that. I might as well just toss my money in the trash. What type of calls? If it’s short term (1 week or 2 week) those are pretty tough and you kinda have to wait for a downturn and then get in). been burned on some of those too. Though I bought TQQQ calls last Friday for two weeks out when it kinda bottomed and it worked out well so far. Gonna sell soon though because time value will start eating up the profit if the market levels off next week instead of continuing to rise. longer term options cost more but are also more likely to hit in a bill market like what we’ve had. I got into SOXL Tuesday and have them till May and already doubled my money. The earlier semi conductor downturn, MU earnings and the fed decision to still have three rare cuts yesterday has helped greatly. Thinking of getting out to avoid the time value loss and use the profit to get back in so I’m playing with house money. Also have a Microsoft June call from last week. 1 Link to comment
Archy1221 Posted March 21 Share Posted March 21 55 minutes ago, teachercd said: Funny you mention this! So, I used the "set alert" option on my account so that when, in this case, the stock hit a certain price that it would sell it but NOT before it hit that price. It did not work. It sold it right away. But I think in theory that idea is suppose to work and would be awesome. Did you try putting in a Limit order? 1 Link to comment
Archy1221 Posted March 21 Share Posted March 21 29 minutes ago, teachercd said: I can't remember for sure but I needed it to go up like 20 more dollars...then it just collapsed in the last 45 minutes of trading. I think I bought that for 275 and sold it for 20. If you are buying around earnings, one of the better ways to do this is buy a few weeks before earnings and if the stock runs up prior to earnings, sell before the earnings release and bank your profit. Your time value is better because the volatility will be less. It gets eaten up a lot the day after the earnings report because that is typically the biggest volatile day. 1 1 Link to comment
BigRedBuster Posted March 21 Author Share Posted March 21 1 hour ago, ZRod said: You should be able to set limit orders and stops for specific values. I play with options a little, but it's literally gambling unless you have enough capitol to buy options that are 6 to 12 months in the future to reduce your risk. Yeah....I looked at that. It wasn't really doing what I wanted. Years ago, I tried shorting stocks. Ummm....lost my a$$. Link to comment
teachercd Posted March 21 Share Posted March 21 58 minutes ago, Archy1221 said: If you have more than $25k in your account this shouldn’t be the case. You just need to make sure your account set as a margin account. Yeah! That is what it told me. 48 minutes ago, Archy1221 said: Did you try putting in a Limit order? I can't remember! 1 Link to comment
teachercd Posted March 21 Share Posted March 21 ONON jump in! Just grabbed a call on it for a quick 10% profit in like 45 minutes. Well, not a profit yet, I am gonna wait and try to get MORE 1 Link to comment
Archy1221 Posted March 21 Share Posted March 21 32 minutes ago, BigRedBuster said: ears ago, I tried shorting stocks. Ummm....lost my a$$. I’ve always been too afraid of doing that. Plus I kinda have a fundamental issue with hoping something bad happens to a company. I found out I’m just not wired to invest that way. I don’t like doing puts either 1 1 Link to comment
Archy1221 Posted March 22 Share Posted March 22 21 hours ago, teachercd said: ONON jump in! Just grabbed a call on it for a quick 10% profit in like 45 minutes. Well, not a profit yet, I am gonna wait and try to get MORE Are you trying to get people broke I kid I kid. 2 Link to comment
teachercd Posted March 22 Share Posted March 22 5 minutes ago, Archy1221 said: Are you trying to get people broke I kid I kid. What can I say...I have a gift! Ha 1 Link to comment
Recommended Posts