Skiracer's stock slopes

[Peter Hansen]

River The Banks SUCK!

Billy & Ski, now this is a "small small world" scenario.

So I went by one of my banks the other day (the one where I have my safe deposit box) and noticed their name was changed to NY City oops, "community" Bank. Imagine my surprise! It used to be Ohio Savings, then AmTrust, now NYB! And, thanks to Ski bringing it here quite a while ago, it resides in my IRA and maybe Ohio billyjoe's too. Did you already know that billy? Nice surprise to me, considering it's still in the green by a little bit after being up about 15%.

River of course when ya shuffle off this mortal coil ....your safe deposit box will be locked ....relatives will have trouble getting in ......basically pain in the ass. You may want to buy a cylindrical floor safe .....put it in your garage or basement , IF DRY ! When installed it lokes like a sewer pipe with a cap on top!

Here is just one of many sites

http://www.safesetc.com/floor-safes.html

[riverbabe]

River,
In my younger days I got carded all the time when I was way over 18 then 21. Now they give me the senior discount without even asking....how depressing.

------------billy

Bill, with me the depression started the first time somebody said "yes, ma'am" to me. I almost slugged him.

[riverbabe]

River of course when ya shuffle off this mortal coil ....your safe deposit box will be locked ....relatives will have trouble getting in ......basically pain in the ass. You may want to buy a cylindrical floor safe .....put it in your garage or basement , IF DRY ! When installed it lokes like a sewer pipe with a cap on top!

Here is just one of many sites

http://www.safesetc.com/floor-safes.html

Very interesting Pete! I have a couple of those portable fire safes (Home Depot) at home for the wills, insurance policies, etc. And I keep the key in the lock so the thieves can open them and see there is just paper. But the deeds, naturalization papers, really important stuff like that, I keep at the bank.

Only problem with the cement-embedded one is the water from the possible fire hoses I think. But, thanks for the info. I didn't know they existed.

[skiracer]

C short from $4.24 is now approx. +.20 after todays close. the June 10 puts from $.09 are now at $.31 up $.22 after todays close. is the sell off done or not is a good question. the stock was below $4 this afternoon and the calls were briefly in the money. when they go "in the money" their price moves almost with the price movement of the stock and the appreciation in value can come very quickly as it did this afternoon. im still holding the short trade and the puts as i feel the selloff is not quite finished and they usually do not end on fridays. today was a big drop but there are still alot of issues out there and tomorrow it could still go a little bit farther. im thinking it remains to the downside tomorrow

[wooish]

Today was really a wild ride, was too busy didn't had a chance to take advantage of it. Congrats and good luck to your C trade.

[skiracer]

Today was really a wild ride, was too busy didn't had a chance to take advantage of it. Congrats and good luck to your C trade.

ive been in the short for about 3 weeks wooish. finally in the black. the puts are turning out nice. whatever is going on is certainly helping but i want the govt selloff to bring on its effect to the price. i would love to see the stock price to go to $3.50 range. that would really put the "put" and the option trade in a nice position.

[skiracer]

ive been in the short for about 3 weeks wooish. finally in the black. the puts are turning out nice. whatever is going on is certainly helping but i want the govt selloff to bring on its effect to the price. i would love to see the stock price to go to $3.50 range. that would really put the "put" and the option trade in a nice position.

sold the C June 10 $4 puts around 3:45 p.m. this afternoon. in at .09 out at .32. +.23 or 255%. plus a gold and a silver in the potw the last two weeks. im not sure what monday or next week will hold. looking at the C chart now and the weekly could be interpreted as ready for a bounce. it stopped right on or actually just below support at its 20 ema at $4.03. it closed at $4 today. i would trade the options again next week preferrable to the downside with the puts. strictly short term with the june or august 10 $4 or $5 puts. C will usually follow the markets and right now that is down.

anyone else with any thoughts on what is coming next week. this correction has been swift and extensive across the board. it seems to have taken any wind out of the sails of the bulls myself included. but is the correction done or is there more to come. some leaders are real cheap and much lower than they were last week or so.

[skiracer]

i saw the other day where there were 115 people online at the forum last weekend. thats amazing. i wish that whoever you are out there that are just looking in without saying or asking anything please open your mouths. lets hear your ideas and/or questions regarding stocks.

[dmk112]

sold the C June 10 $4 puts around 3:45 p.m. this afternoon. in at .09 out at .32. +.23 or 255%. plus a gold and a silver in the potw the last two weeks. im not sure what monday or next week will hold. looking at the C chart now and the weekly could be interpreted as ready for a bounce. it stopped right on or actually just below support at its 20 ema at $4.03. it closed at $4 today. i would trade the options again next week preferrable to the downside with the puts. strictly short term with the june or august 10 $4 or $5 puts. C will usually follow the markets and right now that is down.

anyone else with any thoughts on what is coming next week. this correction has been swift and extensive across the board. it seems to have taken any wind out of the sails of the bulls myself included. but is the correction done or is there more to come. some leaders are real cheap and much lower than they were last week or so.

I'm starting to accumulate C...long.

[wooish]

Hey DMK

Since you're starting to accumulate C, it's a given that you think C will move uptrend sooner or later. I'm thinking of long C too but not sure when. Here's what I'm thinking, instead of buying C say @ $4 a share as of closing today, I want to share if this idea might work. Let me know what you guys think.

-Sell the June 18 $4 puts for .31 (credit)
-Buy June 18 $4 calls for .32 (debit)

So in this trade since you're bullish on C, you sell the puts for .31 and buy the calls for .32 so you're only paying .1

If C continues to go down below $4, say $3.69 and the stock put to you which is ok because that's your breakeven price anyway. If stock stays above $4 by expiration, you will get to keep the premium as well as making $$ on your calls. If god forbid, C goes way below $3.5 which I doubt, you still own it at lower cost compare to buying C at $4 now.

[dmk112]

Hey DMK

Since you're starting to accumulate C, it's a given that you think C will move uptrend sooner or later. I'm thinking of long C too but not sure when. Here's what I'm thinking, instead of buying C say @ $4 a share as of closing today, I want to share if this idea might work. Let me know what you guys think.

-Sell the June 18 $4 puts for .31 (credit)
-Buy June 18 $4 calls for .32 (debit)

So in this trade since you're bullish on C, you sell the puts for .31 and buy the calls for .32 so you're only paying .1

If C continues to go down below $4, say $3.69 and the stock put to you which is ok because that's your breakeven price anyway. If stock stays above $4 by expiration, you will get to keep the premium as well as making $$ on your calls. If god forbid, C goes way below $3.5 which I doubt, you still own it at lower cost compare to buying C at $4 now.

Wooish, unfortunetly I'm not too into options and the straddle, saddles, strangles...etc just confuse me. C may drop to $3.50 but if it does I'll keep adding.

[skiracer]

Hey DMK

Since you're starting to accumulate C, it's a given that you think C will move uptrend sooner or later. I'm thinking of long C too but not sure when. Here's what I'm thinking, instead of buying C say @ $4 a share as of closing today, I want to share if this idea might work. Let me know what you guys think.

-Sell the June 18 $4 puts for .31 (credit)
-Buy June 18 $4 calls for .32 (debit)

So in this trade since you're bullish on C, you sell the puts for .31 and buy the calls for .32 so you're only paying .1

If C continues to go down below $4, say $3.69 and the stock put to you which is ok because that's your breakeven price anyway. If stock stays above $4 by expiration, you will get to keep the premium as well as making $$ on your calls. If god forbid, C goes way below $3.5 which I doubt, you still own it at lower cost compare to buying C at $4 now.

good ideal wooish. definitely puts the edge in your favor if you like C to go up from here. i am leaning towards liking it to go further down from here myself but took the gains today because of the "bird in the hand" thing. dmk questioned my short on C when i first mentioned it back a couple of weeks ago but my strategy was right and the trade endured and made some great gains, +255 % on the puts plus the short trade which i am still holding from $4.24, and now he's accumulating C which might be a bit premature like i was initially with the short trade. i like your idea but the time element with the June 10 $4 options might be to short as there are only 42 days left until expiration while the the sept 10 $4 calls and puts are almost exactly the same situation with the calls @ $.56 and the puts @ $.55 but there are 143 days left until expiration. im going to hold the short trade for a couple of more days or until it goes down to $3.50 - 3.75 range before i would exit and then think long with either the stock or the options. but you have a good idea going there.

[skiracer]

i thought everyone might be interested in this bit of info regarding how the govt computes their unemployment numbers. at first i thought it was a goof but then it kind of made sense to me.

The economy added a net 290,000 jobs in April — the biggest monthly total in four years. Yet the unemployment rate rose from 9.7 percent to 9.9 percent.
How did that happen? It's because of how the government calculates who's employed and who isn't.
The government does two employment surveys each month.
One is called the payroll survey. It asks companies and government agencies how many people they employ. This survey produces the number of jobs gained or lost during the month. In April, the payroll survey showed a net increase of 290,000 jobs. By contrast, in January 2009, the survey showed a loss of 779,000 jobs.
The other is called the household survey. Government workers ask households about the employment status of adults living there. Those without jobs are asked whether they're looking for one. If they're not, they're no longer considered part of the work force and aren't counted as unemployed. The household survey produces the unemployment rate each month.
As recessions drag on, many people who have lost a job and have looked for one for months, give up. These "discouraged" workers were counted as unemployed in the household survey while they were looking. But once they stop, they're no longer counted as unemployed. About 2.4 million people were classified as "discouraged workers" last month, up from 1.4 million when the recession began in December 2007. That exodus helped keep the unemployment rate from rising even higher.
Once a recovery gets under way, positive news — like rising stock prices or companies announcing plans to hire — leads discouraged workers to start looking again. As they rejoin the work force and look for jobs, these people are once again counted as unemployed in the household survey. And they drive up the unemployment rate.
All that's happening now. Previously discouraged workers have become encouraged enough to start looking again because companies have started hiring again. So these people are counted as unemployed again. The result is that in April, the unemployment rate rose from 9.7 percent to 9.9 percent.

[wooish]

Ski

Great info on the unemployment stuff as I always thought those numbers are rigged to make them look good.

As for the time decay in June vs. September, I think it cancels each others out because you're selling puts and buying calls at the same time. However, thinking about it now, September may not be a bad choice. Looking at the price action of C today, I think it may not go lower than $3.7. I'm going to watch it next week and probably wait for the best time to carry out this put/sell strategy.

[skiracer]

Ski

Great info on the unemployment stuff as I always thought those numbers are rigged to make them look good.

As for the time decay in June vs. September, I think it cancels each others out because you're selling puts and buying calls at the same time. However, thinking about it now, September may not be a bad choice. Looking at the price action of C today, I think it may not go lower than $3.7. I'm going to watch it next week and probably wait for the best time to carry out this put/sell strategy.

i would exercise patience. i like the strategy and will be looking for an opportunity to use it myself but let patience prevail.