RIMM ==> The USVI Winner!

[skiracer]

Friday RIMM hit $78.84 and went no lower. I think that was the retest that I mentioned. Sorry it never got down that last $0.18. Ninner is correct: volume was lower.

he was correct on the volume call but the stock was up 8.35 last week alone and from the beginning of August is way up. the short side call wouldn't have worked out for either the stock or the markets. i still like it to the upside although institutional ownership has shown some recent selling and downside. the call option a week or two ago would have been a nice play. I would be interested in hearing what you, or ninner, think of it from this point forward.

Total Positions365142,075,904New Positions868,629,984Soldout Positions154-15,221,639Net Position Change-72-10,373,531Buyers21323,469,380Sellers285-33,842,912

[New-born baby]

Ski,
RIMM has big target: over $130. So I like it to the upside.

[squarepusher]

do you all this RIMM is a strong buy at 77.20 now ?
________
Lovely Wendie99

[skiracer]

do you all this RIMM is a strong buy at 77.20 now ?

Squarepusher,
looks like ninner had it right as of yesterdays close. RIMM will most likely follow whatever the market does. to volitaile right now. may be best to watch for awhile before making the play. my feelings are that it follows the market. if today is an up day RIMM will probably go back up. i still like the markets to go up from here and stay above the 13000 level.

[New-born baby]

do you all this RIMM is a strong buy at 77.20 now ?

I like RIMM here at yesterday's close. It was a retest of the breakout level, and therefore a support, and an excellent place to buy. Buy support, consider selling resistance. The $70 option on RIMM at the $77.20 closing price is $8.75, giving you protection down to $68.45 if the stock drops, and giving you $155 profit per 100 shares if she doesn't drop.

[billyjoe]

Newborn,
With all due respect it seems to me that you're often wanting it both ways. If a stock keeps going up up up you like it and if it starts down you don't like it. That's the way it appears. What am I missing here?

-------------billyjoe

[New-born baby]

Newborn,
With all due respect it seems to me that you're often wanting it both ways. If a stock keeps going up up up you like it and if it starts down you don't like it. That's the way it appears. What am I missing here?

-------------billyjoe

You are missing the fact that I played RIMM short (with the options), and now am playing RIMM long with the stock. And I am not a buy and hold type of guy.

[skiracer]

wouldn't you have to agree that it is following the markets. if tomorrow is a down day you can bet it will track down with the market. not a good trading trend in the markets right now and way to volitaile to be trying to swing trade.

[spikefader]

You are missing the fact that I played RIMM short (with the options), and now am playing RIMM long with the stock. And I am not a buy and hold type of guy.

Speaking of those options, what have ye done wit' 'em?

[New-born baby]

Speaking of those options, what have ye done wit' 'em?

The $220 call became three $73.33 calls due to the split. I rebought them and sold three $80 calls at $4.50 each. (I did this the day after I bought 100 RIMM at $223.60. So I now have 300 RIMM at a net cost of $74.53, and 3 calls out there for $80 per share. It took the $4.50 to cover the move up in strike, so IF RIMM is $80 or more per share, I'll get $80 for RIMM. I kept the three puts.

If I had been smart today, I would have rebought those calls at $3.20 today, and resold them later in the day for $4.60. The OCT $80 is going for nearly $8.

It would have been so nice to cover those calls at the bottom, eh Spike?

[Gatorman]

Newborn,
With all due respect it seems to me that you're often wanting it both ways. If a stock keeps going up up up you like it and if it starts down you don't like it. That's the way it appears. What am I missing here?

-------------billyjoe

I don't know about NBB, but that surely describes me regarding ALL the stocks that I own.
I love them when the go up, up, up and absolutely despise them when they go down!

[spikefader]

Thanks fer th' update NB. Aye, it woulda!

[jiesen]

RIMM back in gear today!

One more day like today, and we'll be cashing it in for our next 15% win!

Glad to hear you're making $$ on the way up as well, NBB. Hope you get a nice profit on the shares- buying them looks to have been the right call so far.

[skiracer]

The $220 call became three $73.33 calls due to the split. I rebought them and sold three $80 calls at $4.50 each. (I did this the day after I bought 100 RIMM at $223.60. So I now have 300 RIMM at a net cost of $74.53, and 3 calls out there for $80 per share. It took the $4.50 to cover the move up in strike, so IF RIMM is $80 or more per share, I'll get $80 for RIMM. I kept the three puts.

If I had been smart today, I would have rebought those calls at $3.20 today, and resold them later in the day for $4.60. The OCT $80 is going for nearly $8.

It would have been so nice to cover those calls at the bottom, eh Spike?

I just wish that NB would have mentioned all his trading with the puts and calls on RIMM as he was doing it or that day instead of this much afterward. I would have liked to have heard his strategies and the logic behind them as the trades were made, and also that he was doing it. we've been talking about the stock and which direction it was going to go in and he never mentioned any of this beforehand or while he was doing it or contemplating doing it.

[New-born baby]

One more day like today, and we'll be cashing it in for our next 15% win!

Glad to hear you're making $$ on the way up as well, NBB. Hope you get a nice profit on the shares- buying them looks to have been the right call so far.

Thanks, Jiesen. However RIMM's up move yesterday was pretty low volume, so I expect some selling today. The thing about options is that one can adjust his position. I can adjust to the $83.65 strike like this: they'll give me $3.00, and I'd have to buy back the $80 at $4.75. They originally gave me $4.50 for the $80 strike, so it would cost me a net of $0.25 per share, or $25 total, to move up from $80 to $83.65 strike price. If RIMM closes at or above $83.65 on Sept 21, you'd get $83.65 plus the $2.75 you already received from the call for a total price of $86.40.

If one thinks RIMM is going to take a dive for away, sell a deep in the money call. For example one could sell the RIMM SEPT $70 call right now for $12.50, and if RIMM fell back to support at $78.65, that would trim about $3 off of that call, so you could buy it back for around $9.50, keep the $300 and the shares.

Okay, Ski: I'm comtemplating moving up in strike to $83.65. Would you do it?