Let’s start off with the bad. I bought a September 470 Put Option on Google and I did not follow the rule book on this one. The S&P500 was not in an official down trend, even though it is darn close as of this week, so buying a Put option in the S&P500 was not the right thing to do. I’ve been down as much as 37% on this one option, but as of today, I’m only down 11%. I will be happy to get 90% of my money back on this one. I need Google to lose another 3 or 4 dollars a share form today's closing price of $474.02 and I will be good to go.
Here is my real money shorts:
BEN – 4%
BP – 16% – This one is awesome for me, but not BP.
MAN – (3.5%)
MT – (3.5%)
PCLN – 5%
After talking to TD Ameritrade on the phone, I will not be charged interest on any of my shorts because I’m using cash and not margin for my positions. I will not be paying margin interest to no one. I like the short positions, because they are exactly like buying the stock out right and they do not expire. Yea you can make a lot more money faster with options, but I’m not ready to risk that today.
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