Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.
This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only intended at the moment of their issue as conditions quickly change. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Contact us: support@philstockworld.com
© Copyright - PSW, LLC.
2024
August 16th, 2007 at 2:18 pm
I’ve been lurking on the board for a few weeks now, both while Phil was in town and while he’s been gone. Only been trading options for a short time, focusing more on longer term plays while practicing riskier strategies by paper trading to get the hang of it (wished I had actually implemented that Wynn strangle). Phil, Happy, Sage and all of the members on the board have given me an incredible crash course — what to me seems equally as valuable and educational as the books I’ve read (McMillian, Sages, etc.)
Hope my question doesn’t come off too naïve, but I’m long AAPL 160 Jan 08s and SBUX 30 JAN 09s. Been shorting calls against them to bring my basis down. I’m inclined to hold the long calls and keep shorting, hoping for a reversal at some point, but with the market like this, would it make more sense to dump the calls, go to cash and look for new positions?
Thanks for any advice.