<p>As I figured, aapl went further down today and I unloaded it. I’m taking the loss in one account and buying it back in an ira - with more safety - combination call and put spreads through earnings next week</p>
<p>Expensive stocks are getting hit today…</p>
<p>GOOG…LNKD…CMG…PCLN</p>
<p>Last week I sold aapl 605 weekly puts and got assigned - I didn’t think it ever got to 605 but apparently it did. I sold it first thing this morning around 609, fortunately. I sold 76 iwm puts, 133 spy puts and 560 aapl puts for this week. Also just bought aapl 480 calls, sold 650 calls, bought 590 puts, sold 550 puts (May)</p>
<p>So you are long the may 590 calls…and will get longer Below 560 and again at 550…</p>
<p>I am assuming the 480s are not going to come into play…</p>
<p>What kind of premium did you have to pay for the 480s?</p>
<p>You can exercise options even if they are out of the money…Which means if you are short options you can be assigned…</p>
<p>Which is why…If I don’t want to take a chance on getting assigned…I close out the positions.</p>
<p>Nice trade though…really helps to make an extra 4+. :)</p>
<p>I have no idea where Aapl closed after hours on Friday…</p>
<p>I’m long 590 puts</p>
<p>Yeah…but you are long deep calls against…against those puts…which really makes those puts calls…</p>
<p>If the stock goes down…you lose…on the 480 Call 590 put postion, right?</p>
<p>jym, I think it has something to do with summer holidays and typical lack of earth-moving financial news and business transactions during the summer months. Of course, our Government can always organize another “Kabuki theater” show. :)</p>
<p>DocT, thought I read somewhere that taking a loss in one account and buying back the same item in an IRA is still a wash sale. I don’t know how they police it, because trades in the IRA are not itemized on your tax return.</p>
<p>I sold the May 62.5 PEP puts today.</p>
<p>I have other orders in a different issue…but I am not getting filled…</p>
<p>I did sell…100 puts and 10,000 shares of stock in an issue recently…giving me a synthetic short call position. …for the big potential profit of… $300. The puts expire Friday…I wanted to make more…but the stock moved against me while I was putting the trade on…that happens sometimes…I am hoping the puts are exercised early. I am only doing this kind of trade because interest rates are zero and I have cash balances…and the chances of it working are 99.9%.</p>
<p>This isn’t really a trade many people should be doing…</p>
<p>I am really just bumping this thread up. :)</p>
<p>I typically do not like to sell puts in individual stocks unless I really really want to own them. Wow - 100 puts, you’ve got really big b***s.</p>
<p>I only sold 19 puts in PEP. I am willing to buy PEP at 62.5.</p>
<p>The other issue…I did sell 100 deep in the money puts…but I sold 10,000 shares against those…</p>
<p>So I am really short 100 otm calls with 3 days to go…</p>
<p>I dont know what it would cost me to borrow 10000 shares of whatever, but the commission on 100 puts would be prohibitive… for me.</p>
<p>100 puts commission = 8.95+100*.75 = ~$84 - not so bad</p>
<p>"DocT, thought I read somewhere that taking a loss in one account and buying back the same item in an IRA is still a wash sale. I don’t know how they police it, because trades in the IRA are not itemized on your tax return. "</p>
<p>You’re correct. The only way to be “caught” is if the irs does an in depth audit.</p>
<p>Njres…which firm do you use to trade options?</p>
<p>And do you like the firm?</p>
<p>Options are a dangerous game. Please do not take Option advice from anyone here, period. Naked puts have wiped even the sophisticated investor out. Your losses are UNLIMITED.</p>
<p>I use Schwab. Overall, I like the firm a lot; I have a bank account there, brokerage account, joint brokerage account with 1 kid and several IRA accounts, but I only use them for execution, while I watch the stocks and options on Tradestation, which I use for futures trading. Options commisions are a little high on Schwab so I am not real active.</p>
<p>Absolutely…ldavis…most people blow…</p>
<p>"Options are a dangerous game. Please do not take Option advice from anyone here, period. Naked puts have wiped even the sophisticated investor out. Your losses are UNLIMITED. "</p>
<p>Wow - I never knew this! I thought a stock could only go to 0. Perhaps you’re thinking of naked calls?</p>
<p>or perhaps buying a put. By the way - I view options as safer than stocks.</p>