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Post by lovemyipad on Jan 17, 2014 13:17:17 GMT -8
Anyone take a taste long? I'm long enough already.
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Deleted
Deleted Member
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Post by Deleted on Jan 17, 2014 13:30:19 GMT -8
Just added a little to already very long position: Sold Jan 24 542.50/535 put spreads, used proceeds to buy Jan 31 572.50/590 call spreads.
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Post by mrentropy on Jan 17, 2014 13:40:55 GMT -8
Whew.
Today ended a long round trip on Apple for me. It began in full 2012, as it did for most people I am sure. I made some money on Oct call spreads, although not as much as I should have as I got caught in the down draft and didn't sell when I should have. I thought a 50 point cushion on my spreads was plenty, but that evaporated very quickly and caused me to give back 70% of my gains. (Note to self, better to take profits at 90% potential on a spread than let it sink to near break even. ) As Apple started its slide, I, like many others, thought it might hold the 50day as it had done so many other times. I started taking more bets in the low 600s and high 500s. January's earnings, in a word, we're not kind to me. I saw my single biggest one day loss ever. By the time it was all said and done, my portfolio was worth less than half what it had been 6 months earlier, a not insignificant portion of that realized loss. I've had better months. A month later, the company I worked for went bankrupt, as our industry expedited it's exit from the US. 2013 can burn in a fire, I've had better years.
Ok, the story is getting to be a bit of a downer. As of today, with apple closing well above 485, the last of my bull put spreads (475/485) expired worthless and I have been made whole again. The funny part about the whole story is that the original positions I took were to help me buy a new dream car, an Audi R8. As of today, I made enough to do that, but only after losing that much first. Needless to say, I don't recommend that as a trading strategy.
That's it for big trades for me on Apple for a while. I'm going to sell some common to pay off my retirement property, but I'll hang on to the rest and just let it divvy re-invest. I'm not going to be as active now, because I, as apparently the rest of Wall Street as well, don't trust Apple any more. The biggest lesson I learned was sell every pop, every time you are profitable.
Btw, I've had a lot of success trading with FitzStock. He's a big part of the reason I was able to claw back. I'd recommend him.
Good luck to everyone else.
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Post by gtrplyr on Jan 17, 2014 13:42:32 GMT -8
Anyone take a taste long? I'm long enough already. That's exactly what my wife tells me What a crappy day ..... always seems to happen when Monday is a holiday ! Gotta wait till Tuesday to lose even more ...
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Post by lovemyipad on Jan 17, 2014 13:45:25 GMT -8
Whew. Today ended a long round trip on Apple for me... HUGE CONGRATS on clawing back to even!!!!!!!!! That is a TERRIFIC victory!!!!!!!!!!!!!!
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chinacat
Moderator
AAPL Long since 2006
Posts: 4,433
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Post by chinacat on Jan 17, 2014 13:54:10 GMT -8
That's it for big trades for me on Apple for a while. I'm going to sell some common to pay off my retirement property, but I'll hang on to the rest and just let it divvy re-invest. I'm not going to be as active now, because I, as apparently the rest of Wall Street as well, don't trust Apple any more. The biggest lesson I learned was sell every pop, every time you are profitable. Glad you managed to escape in moderately good shape. Just for clarity, is it Apple, AAPL or both that you don't trust?
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Post by mrentropy on Jan 17, 2014 14:29:45 GMT -8
That's it for big trades for me on Apple for a while. I'm going to sell some common to pay off my retirement property, but I'll hang on to the rest and just let it divvy re-invest. I'm not going to be as active now, because I, as apparently the rest of Wall Street as well, don't trust Apple any more. The biggest lesson I learned was sell every pop, every time you are profitable. Glad you managed to escape in moderately good shape. Just for clarity, is it Apple, AAPL or both that you don't trust? AAPL definitely. Apple I don't have a problem with. Much less so than say Google. At least with Apple I know I'm the customer, not the product
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Post by Red Shirted Ensign on Jan 17, 2014 15:59:04 GMT -8
Glad you managed to escape in moderately good shape. Just for clarity, is it Apple, AAPL or both that you don't trust? AAPL definitely. Apple I don't have a problem with. Much less so than say Google. At least with Apple I know I'm the customer, not the product A great story. Today for me, as with many, saw the expiration of gobs of long calls....worthless, some short legs too... On Monday my portfolio list of holdings will shrink dramatically and all those filthy losses become realized. But in the rest of the portfolio are spreads stretching out to 2016 with some juicy gains. I won't get caught looking for that last five percent gain EVER again. I also have bull put spreads well in the money...awaiting closer to maturity. But what a year this has been. This date, today, will live in AAPL investor infamy
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JDSoCal
Member
Aspiring oligarch
Posts: 4,189
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Post by JDSoCal on Jan 17, 2014 16:01:17 GMT -8
Anyone take a taste long? I tried at the end, but I bidded too cheap, they didn't bite. Very interesting how there was a floor to options pricing at the end, no matter how low we went. God forbid the EO's let you get a real bargain. It's almost as if they knew we are going back up...
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JDSoCal
Member
Aspiring oligarch
Posts: 4,189
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Post by JDSoCal on Jan 17, 2014 16:10:22 GMT -8
But in the rest of the portfolio are spreads stretching out to 2016 with some juicy gains. I won't get caught looking for that last five percent gain EVER again. This is what whacked me in late 2012. Not 5%, but last 15%.
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Post by aapl4kiki on Jan 17, 2014 16:34:10 GMT -8
Anyone take a taste long? I tried at the end, but I bidded too cheap, they didn't bite. Very interesting how there was a floor to options pricing at the end, no matter how low we went. God forbid the EO's let you get a real bargain. It's almost as if they knew we are going back up... This definitely was happening. In the last ten minutes as we drifted down only the bids drifted lower with the share price. Rat bastards.
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Mav
Member
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Posts: 10,784
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Post by Mav on Jan 17, 2014 17:05:17 GMT -8
Sorry Raffi, you lost btw
Not quite enough time left to finish the drop to 500
Kidding
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Post by firestorm on Jan 17, 2014 17:32:36 GMT -8
As a 15 year investor in AAPL, I have ceased to have a faith-based trust that this company can revolutionize anything ever again. It might just be time to dump it all, and to stop crossing my fingers, crossing my legs, praying, hoping, excusing, wishing, and all the other behaviors I've engaged in for the last year and a half. People are willing to invest in a vision of an exciting future, which is why some companies now appear to be valued way out of proportion to their value. I waltzed a bit with Tesla last year and did well; perhaps it's time to dance with other partners once again.
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Post by terps530 on Jan 17, 2014 19:18:36 GMT -8
BTO 550-555 BPS @ 1.75. (Wed) STC 550-555 BPS @ 4.75. (Today)
Fuck thank you, option pain, that was great. I won't say how many contracts, as it would give Lovemyipad conniptions. Suffice it to say, it's the most contracts I have ever traded in a single trade. God bless random supply and demand price action! Power move JD nice. I've been so busy at work I couldn't get money on the table this week. Great job
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