AAPL Intraday Updates (Archive)

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    Posted: 24 June 2011 07:19 PM #376

    Hannibal - 24 June 2011 12:44 PM
    lovemyipad - 24 June 2011 11:07 AM

    Brushing up on my McMillan this morning. For a theory on what may have happened in the last hour of trading yesterday (and why), anyone who has McMillan on Options, check out Section 3, “Games People Play” through “Trading with the Arbs.”

    Hi LMI,
    How do you like McMillan on Options compared to his Options as a Strategic Investment?  The best practical (and compact) book I’ve yet found on option trading is Options for the Beginner and Beyond…. by Olmstead. You may have already come across him.

    Alan

    Alan, pop into the Books thread…  I posted a “thank you” to you just a bit ago for recommending Olmstead’s book—I love it! smile

    I don’t have the latter McMillan, only the former.  Have you read both?  And if so, which do you prefer?

         
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    Posted: 24 June 2011 08:14 PM #377

    Unique - 24 June 2011 10:50 PM

    Ipad you don’t need books when you got my crystal ball. smile

    Excellent close, bodes well for next week. +

    Perhaps next week your crystal ball can tell us exactly what trades to make, in advance. wink

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    Posted: 24 June 2011 10:26 PM #378

    You all remind me why I don’t trade options.

    With regular shares you just worry about the stock going down.  With options things can change so quickly for the good or bad.

    I just need to learn how to sell call options with my stock covering me.  I am paranoid that I will be forced to sell my shares when I should just buy and hold for life.

    I want to make some money on the side with options, thats all.

         
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    Posted: 24 June 2011 10:35 PM #379

    Unique - 24 June 2011 10:50 PM

    Ipad you don’t need books when you got my crystal ball. smile

    Well, sure, now that it’s back from the shop… wink

         
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    Posted: 24 June 2011 10:53 PM #380

    omacvi - 25 June 2011 01:26 AM

    You all remind me why I don’t trade options.

    With regular shares you just worry about the stock going down.  With options things can change so quickly for the good or bad.

    I just need to learn how to sell call options with my stock covering me.  I am paranoid that I will be forced to sell my shares when I should just buy and hold for life.

    I want to make some money on the side with options, thats all.

    Spongie, big difference in how traders trade options and how YOU would use options. No reason at all for you to do/risk the things we do, especially the short term stuff.. smile 

    That said, IMHO, the post a while back from Blaze gave a great example of how effective, conservative deep ITM Leaps would actually lower your current risk, raise your reward vs. margined shares. No more margin calls - ever! - or being forced to sell shares.  I don’t know how much you would like or benefit from covered calls, given your usual optimistic Sponginess potentially shaking you out of the position should AAPL (please!) give any sign of resuming its uptrend.

    [ Edited: 24 June 2011 10:56 PM by lovemyipad ]      
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    Posted: 25 June 2011 12:24 AM #381

    lovemyipad - 24 June 2011 09:47 PM
    aaplcrazie - 24 June 2011 05:49 PM

    So… I have a buy order for common sitting at 325.25 to buy back some higher lots sold earlier….Think it will execute at that price as the day wears on, Or do I need to re-think?

    Congrats to the owner of some new AAPL shares! :)

    Thanks Laura!

    Starting back slow got really burned in the 2008 Crash…..Ahhhh Margin…...

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    Posted: 25 June 2011 01:39 AM #382

    lovemyipad - 25 June 2011 01:53 AM
    omacvi - 25 June 2011 01:26 AM

    You all remind me why I don’t trade options.

    With regular shares you just worry about the stock going down.  With options things can change so quickly for the good or bad.

    I just need to learn how to sell call options with my stock covering me.  I am paranoid that I will be forced to sell my shares when I should just buy and hold for life.

    I want to make some money on the side with options, thats all.

    Spongie, big difference in how traders trade options and how YOU would use options. No reason at all for you to do/risk the things we do, especially the short term stuff.. smile 

    That said, IMHO, the post a while back from Blaze gave a great example of how effective, conservative deep ITM Leaps would actually lower your current risk, raise your reward vs. margined shares. No more margin calls - ever! - or being forced to sell shares.  I don’t know how much you would like or benefit from covered calls, given your usual optimistic Sponginess
    potentially shaking you out of the position should AAPL (please!) give any sign of resuming its uptrend.

    Sponginess.?  Ah, looked it up in Websters..“to be optimistic in the face of any adversity (2) to hold to certain beliefs and core principles against all information to the contrary (3) to bear risks at the ‘margin’ of reasonableness ( to share similar beliefs and principles one can be deemed ‘spongeworthy’. grin

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    Posted: 25 June 2011 01:47 AM #383

    lovemyipad - 25 June 2011 01:53 AM
    omacvi - 25 June 2011 01:26 AM

    You all remind me why I don’t trade options.

    With regular shares you just worry about the stock going down.  With options things can change so quickly for the good or bad.

    I just need to learn how to sell call options with my stock covering me.  I am paranoid that I will be forced to sell my shares when I should just buy and hold for life.

    I want to make some money on the side with options, thats all.

    Spongie, big difference in how traders trade options and how YOU would use options. No reason at all for you to do/risk the things we do, especially the short term stuff.. smile 

    That said, IMHO, the post a while back from Blaze gave a great example of how effective, conservative deep ITM Leaps would actually lower your current risk, raise your reward vs. margined shares. No more margin calls - ever! - or being forced to sell shares.  I don’t know how much you would like or benefit from covered calls, given your usual optimistic Sponginess potentially shaking you out of the position should AAPL (please!) give any sign of resuming its uptrend.

    sponge,

    You can make some money on the side by SAVING some money on the side by not being forced to sell your shares at a lower price due to a margin call.

    deep in the money leaps using the same exact money that you bought your shares with (minus the margined amount). 

    This equals..  if you have $32,500 for 100 shares, you buy two deep in the money 2013 leaps that are around 16,250 each or so.  You can get some good calls for that. 

    I’m not saying covered calls are bad..  but I’d first take a look at doing that to avoid all those margin issues you keep getting hit with.  And if you avoid that, you MAKE money.

    Ipad is right too..  doing what ‘we’(option TRADERS) do is WAY different than what has been suggested to you.  Options can me one of the most conservative and smartest investments that exist.. and an example of that is buying puts for protection.  Options are not bad in and of themselves, much like alcohol is not.  But both can be serioiusly abused.

    don’t throw the baby out with the bath water..

         
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    Posted: 25 June 2011 01:51 AM #384

    Red shirted ensign - 25 June 2011 04:39 AM

    Sponginess.?  Ah, looked it up in Websters..“to be optimistic in the face of any adversity (2) to hold to certain beliefs and core principles against all information to the contrary (3) to bear risks at the ‘margin’ of reasonableness ( to share similar beliefs and principles one can be deemed ‘spongeworthy’. grin

    lol..  nice.

         
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    Posted: 25 June 2011 02:13 AM #385

    Unique - 24 June 2011 10:50 PM

    Ipad you don’t need books when you got my crystal ball. smile

    Excellent close, bodes well for next week. +

    Unique, please elaborate.