Quote:
Originally Posted by scho63
I try to buy something way out of the money 2-3 years away. Any stock over $250 per share and the ones over $500 are going to be crazy expensive.
I'll look for something maybe $50-75 a share that has potential for a $10+ or more move.
Oil companies look good right now for some of this IMHO
|
My uncle and father love playing that way. I have seen them lose money and make money. But damn does it not tie up a lot of money that could be making money elsewhere. They are looking for big paydays. I look at it as daily bread.
Him and my father do not like the way I trade very much. They think I take a lot of time sensitive risks. I will buy options with 3 days expiration if they are cheap. My call this week of course was a no brainer with BAC. Monday morning I bought in at .36. Just sold out at .58. 100 contracts, 1 day. You can do that addition I m sure. Didn't even make it to the earnings like I thought. I at least thought it wouldn't be till Friday to hit 23. I was wrong, it was today. Don't care too much if I potentially left anything on the table either. I made money. That is the whole point. Trying to make daily money. Not watch an option go up and down for 2 yrs. That shit would drive me insane.