Just wanted to update you on my SDS call options. Market is down sharply again today so I have just taken my Nov SDS 80 calls off the table for a 181% profit in two days. Now thats what I call fast money. I do think the market could fall further and perhaps even as far as the 880 level. But when the market gives you almost a triple of your money in two days, I have learned it is sooo prudent to take something, if not everything, off the table. Other choices I could have made with this trade would be to take half off the table and put a trailing stop on the other half or manually continue to move up a tight stop so I am locking in profits along the way. The SDS is a great way to play the market to the downside and the options are sure a trip. Since Tuesday the SDS is up about 18% and the Nov 80 calls I bought are up 181%. Now tell me this, why are you not trading options yet? Get in the game. Trade safe out there.
Thursday, November 6, 2008
Sold SDS
Just wanted to update you on my SDS call options. Market is down sharply again today so I have just taken my Nov SDS 80 calls off the table for a 181% profit in two days. Now thats what I call fast money. I do think the market could fall further and perhaps even as far as the 880 level. But when the market gives you almost a triple of your money in two days, I have learned it is sooo prudent to take something, if not everything, off the table. Other choices I could have made with this trade would be to take half off the table and put a trailing stop on the other half or manually continue to move up a tight stop so I am locking in profits along the way. The SDS is a great way to play the market to the downside and the options are sure a trip. Since Tuesday the SDS is up about 18% and the Nov 80 calls I bought are up 181%. Now tell me this, why are you not trading options yet? Get in the game. Trade safe out there.
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