Okay, so yesterday with $4500 in my account I took a BIG bet on Apple’s stock that since it was swimming around $630 and not dropping that it would move higher. It did move higher into the close so I double upped big time on AAPL OCT 670 CALLS @ $.23. Now, I bought 1 contract of AAPL OCT 670 CALL @ $2.71 only a few days earlier. I think only 2 days earlier. So $3 to $.18 cents isn’t that promising to just JUMP into, but I felt the bear gunslingers in this trade were getting tired and the bulls were regaining energy. I mean, how much positive news does it take to make Apple move again??? All good news and the stock was just constipated sitting on its ass. Once that poop went through it would run again. Well, I was in luck today because although there were always rumors finally luck came my way with an actual fact that Apple was going to show a product in the next week. Apple went from +$5 to +$13 making the out of the money calls suddenly more volatile and quickly change from snails to rabbits immediately as the market maker saw the opportunity to make money. Believe it or not this happened in less than 45 minutes. My option doubled and I couldn’t even be sold out of my GTC because I had an ALL OR NONE on my price of $.50 with the current bid/ask of $.67-.70. In a helpful way that ended me gaining another +$3000 profit as I cancelled it and did a limit price opening it up to partial fills taking around 1-2 minutes of complete thrill as I saw it being filled up at $.80 instead of $.50 (+248%). I wanted AAPL to reach $650. This was my target to sell out but I was able to sell out quickly around $647-648 with my option target above what I wanted. I didn’t wait. I wanted to be out of this trade BADLY. I like big fat tech stocks but not in near death $0 expiring options. I know what happens at the end of expiration when you wait – and HOPE – nadda – zero – sorrows – and lack of discipline that only leaves you unable to stay in the game. I told myself if Apple didn’t do shit today I would sell out at a bigger loss if it ended at $.10 to $.18. However, today I really got lucky and the support on technical charts which I saw a crater forming over the 5-10 day chart make Apple finally pop – however Apple could have just continued to fall – so I WAS lucky on this one even though Apple really was constipated in price. I would have stayed in the trade if my options weren’t near death because it’s a high probability chance that AAPL now will move even higher tomorrow with a big white candle with a kicker bullish chart setup. I’m happy with the cash I got and I’m on to a less risky in-the-money intraday trade. I’m better at trading intraday – smaller profit – less stress – no worries what the price will be the next day.
My currently account status
August 15th, 2012 – began trading again and started with $2000
October 15th, 2012 – into my tenth trade with an ending balance of $12,500 (up 525% – 60 days)
In my my 12 month plan I would be in month 4 so I am 2 months ahead. See post here how to make a million in 12 months trading options IF you are the BEST if you suck you’ll loose your ass.
October 16, 2012 | Categories: aapl options, aapl reversal chart, bullish kicker chart picture, rumor, technical charts, trading aapl options, trading stock options | Tags: 2012, aapl, Apple, bullish kicker chart on apple, how to loose your ass trading the stock market, how to make a million dollars, october crash? crater support, out of the money calls are risky, risky plays with big pay offs, trading stock options | Leave a comment
My two recent option plays:
Description: QQQQ MAY 50 Call
Stock: QQQQ at 44.13
Action: Bought To Open
Quantity: 30 contract(s)
Reg Fees: $0.00
Net Amt: $465.00
bought qqqq’s because I think heavily nasdaq tech stocks are ready for a run into april earnings.
also on the weekly chart the stock rsi is about to cross over and stock looks to move up big
Description: AAPL MAY 145 Call
Stock: AAPL at 143.22
Action: Bought To Open
Quantity: 3 contract(s)
Reg Fees: $0.00
Net Amt: $2,999.95
bought aapl calls going into late april earnings call + big news on new iPhone which will be annouced in June 08. will likely sell calls before earnings then rebuy calls after earnings going into the new iPhone annoucement. also charts in my opinion show a real U shaped bottom reversal moving up on daily charts, weekly stock rsi has already crossed going up. 2 white soldiers on weekly breaking downtrend.
March 31, 2008 | Categories: aapl, Apple, april earnings, call options, news, QQQQ, tech stocks, technical charts, where is the market going? | Tags: Apple, april earnings, call options, may, new iphone, news, QQQQ, tech stocks, where is the market going? | 1 Comment