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Nasdaq
- Thread starter Smokenjoe
- Start date
are you just going to buy them....... or do you plan on selling as well.....
im very experienced buying and selling commodity options,,,,,, not so much in stock but i presume it works much the same......
where is QQQQ trading and what strike price are you looking at?
there are several spread strategies that you can look at....... buying the nearest strike and selling 2 further out...... selling calls and puts at the same time,, guaranteed one will expire worthless.....
i used to do that one alot..........
if your inexperienced be very careful selling options naked........ if your covered, thats ok..........
im very experienced buying and selling commodity options,,,,,, not so much in stock but i presume it works much the same......
where is QQQQ trading and what strike price are you looking at?
there are several spread strategies that you can look at....... buying the nearest strike and selling 2 further out...... selling calls and puts at the same time,, guaranteed one will expire worthless.....
i used to do that one alot..........
if your inexperienced be very careful selling options naked........ if your covered, thats ok..........
SSI said:are you just going to buy them....... or do you plan on selling as well.....
im very experienced buying and selling commodity options,,,,,, not so much in stock but i presume it works much the same......
where is QQQQ trading and what strike price are you looking at?
there are several spread strategies that you can look at....... buying the nearest strike and selling 2 further out...... selling calls and puts at the same time,, guaranteed one will expire worthless.....
i used to do that one alot..........
if your inexperienced be very careful selling options naked........ if your covered, thats ok..........
:smoking:
SSI,
Thanks for the response. I have an account with OptionsXpress.
This account has never been traded (used) and I'm wanting to start trading.
I have no experience with trading stock options.
I want to eventually buy and sell. However, at the present time,
I'm considering the following trade:
BUY 1 QQQQ (JAN 08) 50 Put limit price at $6.20 option trade is naked.
Suggestions?
joe, where is QQQQQQQQQQ trading and how many weeks left until expiration.... i assume, not many........
also,,,,,, if your merely buying an option, do not worry........ your max loss is simply the cost of the option................. for the most part the sellers make the money in options...... i said for the most part,,,,,, there are homers to be hit.........
however joe, when you buy an option, you need movement rather quickly..
i do not know where QQQQ is at, so i dont know if you bought an option "in the money" or how far out you bought...........
a little more info.........
Joe, if your interested in option trading...... commodites can be done much cheaper and in my opinion with better results......
Options were not my speciality, i was a supp and res trader, however i do know a great deal about ooptions and will help out as i can.......
i am putting myself thru about a 6 week refresher course,,, so any conversation is helpful to me.........
also,,,,,, if your merely buying an option, do not worry........ your max loss is simply the cost of the option................. for the most part the sellers make the money in options...... i said for the most part,,,,,, there are homers to be hit.........
however joe, when you buy an option, you need movement rather quickly..
i do not know where QQQQ is at, so i dont know if you bought an option "in the money" or how far out you bought...........
a little more info.........
Joe, if your interested in option trading...... commodites can be done much cheaper and in my opinion with better results......
Options were not my speciality, i was a supp and res trader, however i do know a great deal about ooptions and will help out as i can.......
i am putting myself thru about a 6 week refresher course,,, so any conversation is helpful to me.........
SSI said:joe, where is QQQQQQQQQQ trading and how many weeks left until expiration.... i assume, not many........
also,,,,,, if your merely buying an option, do not worry........ your max loss is simply the cost of the option................. for the most part the sellers make the money in options...... i said for the most part,,,,,, there are homers to be hit.........
however joe, when you buy an option, you need movement rather quickly..
i do not know where QQQQ is at, so i dont know if you bought an option "in the money" or how far out you bought...........
a little more info.........
Joe, if your interested in option trading...... commodites can be done much cheaper and in my opinion with better results......
Options were not my speciality, i was a supp and res trader, however i do know a great deal about ooptions and will help out as i can.......
i am putting myself thru about a 6 week refresher course,,, so any conversation is helpful to me.........
:smoking:
SSI,
Thank you for your patience. Options for the QQQQ are traded on the
CBOE. I had a limit order which executed on 1/8/2007. The weeks
until expiration is 52. The option does not expire until 01/19/2008.
The strike price is $50...so the trade is well in the money. It was a
purchase of a PUT option. As of this posting the price of the QQQQ is
$44.10. The option was bought for 1 contract at $6.20 x 100=$620
(plus commission).
I apologize if I sound ignorant...but the fact is I am ignorant regarding
option trading. Any advise/help you can offer is very much appreciated.
I regret not cancelling my limit order before execution...but it's too late now...the execution has already happened.... I just hope the price will
drop...
smokenjoe
