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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@Lee@thenewjew Regarding todays play... VIXY 061617 40C. Hmmmm. 197 days to expiration... Deep OTM... 0 Open Interest and 2 Volume... Bid .65 and Ask 1.75 Wide,Wide,Bid to Ask. How do you justify such a trade?
@dirkdigglermight be an 'option' @BS - if you can find a series with enough OI and a reasonable bid/ask spread. Volume is so limited though. looking at the Apr $3.00 Calls - the bid ask is a little less ridiculous than most strikes/months. $CNL#options
@dirkdigglerI don't believe in options as long term plays @Newton. If they're otm and 6 to 12 months out, by the time they go itm, there's a good chance your time value will have eroded sufficiently, and you'll still end up losing money. There needs to be a short term catalyst imo. Of course there are exceptions: $TCK would have been a brilliant long term Call play. #options
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@NewtonRoger that, @dirkdiggler. I recall that from prior discussions and was intrigued to see it borne out in case of $ASR recent price declines. I wrote an article back in July when #Turkey political problems happened suggesting 'obvious trade idea' of put options on the company and just checked back in recently. Nasty price decline since, though partly due to operational problems at mine.
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@NewtonI don't know of good ways to play short side of market in junior space, but think that put #options can be good for that on some bigger names.
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@NewtonAnd a different question for you here @dirkdiggler. You say "there needs to be a short term catalyst" -- any comment on what that may be? I think I've seen you refer to charts and news. Maybe strangest part of question: do you ever play for unexpected news?
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@dirkdigglerEarnings reports are often good for large price shocks @Newton: look at $DGC's recent qtr....A Put position placed at the close before the report was released would've given you fantastic multi-bagger gains over the following day(s). NFP numbers and their impact on the $gold price are good catalysts, if speculating on the large Producer's. Interest rate decisions (like the one we'll see on Thursday) MIGHT be a good way to speculate on severe price shocks, up or down. Unless you are a gifted number cruncher or have unique insights, all of the above scenarios can be little more than coin tosses. #options
@dirkdigglerThe market deplores uncertainty. Current $Gold sector participants are probably best described as 'twitchy F*uckers'. Tomorrow will likely remove much of the uncertainty; uncertainty that hangs over our collective (twitching) domes like a thunderhead. I'm positioning myself in some highly leveraged #warrants, perhaps some Calls and or Bull-Call spreads. #options But that's just $ME
@dirkdigglerThe $ABX 30DEC16 $21.00 Calls are up 1000%+ on this move. They went from no-where-near-the-money to suddenly-in-the-money with only a session and a half until expiry. Crazy action in #Options$gold
@thenewjew$SLX 031717 48 C (Call on Steel ETF): Bid at 0.15, Ask at 1.05. My book cost is 0.45... with a little less than 2 months to go (and anticipation of Trump's infrastructure announcement, including pipelines with AMERICAN STEEL), I am hoping for 100-300% some time in February. Today's closing price - 42.74
@dirkdigglerMixed emotions: love the fact that I exited the last tranch of my Apr $26 Calls yesterday at the high ($58 per contract). HATE the fact that I stuck some poor bastard with a position that is nearly a total loss as of today. $GDX$GOLD#options
@dirkdigglerWarning: really Stupid story here: I bought a raft full of June atm $THO Calls last week, and while the stock was getting thumped on yesterday (Thurs), I considered dumping the position at break even. Instead, I decided to clear my head and take a trip to the local market cuz I was out of Cap'n Crunch (kidding).....as I walked through the parking lot, something caught my eye near the entrance to the market: it was a sign or protest sticker propped up against the rear window of an old Corolla. It read 'Keep Tahoe.....' couldn't read the rest.'Keep Tahoe'....attached to a car window in a small town on the West Coast of Van Isle. Here's the REALLY stupid part: I added to my Call position just before the market closed yesterday. LOL! http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=taho&insttype=&freq=1&show=&time=4 (btw I googled 'Keep Tahoe' and it turns out there's a real movement, complete with bumper stickers that read 'Keep Tahoe Blue') Too much! LOL!! #options
@StarFireI've been thinking of put #options for the second half of the year, if it's true that after a two term presidency ends, the first year after is always a recession? (I was told in a promo I should fact check) I was thinking $CAT and $GS ...maybe one of those train companies or two will crash the most...who knows what happens if the things get de-railed...