Couldn't help myself and bought a bunch of put contracts on Twitter....figure once the lockup ends, it should be a free fall if nothing else...though the heart of it is the insane valuation...
I was gonna reply early this morning but I slept in so I wouldn't trade my TWTR short. I kind of thought it was a whatever kind of trade. I don't know much about QIHU but it is consolidating amazingly well at highs after the huge run it had. If anything I would like to sell QIHU puts on any pullbacks rather than trying to sell calls just based on the chart.
Yeah I'm pretty big in this trade too. It's my biggest winner in awhile. I'm trying to figure out where I want to start covering. The price it's at now is still insane. 60 makes a lot of sense as an area to cover a good bit, but even 60 is an obscene price. I'm just going to try to hold this thing thru the new year and see if we get some blow out selling then. I still want to know what the hell happened in the options market with this thing yesterday. That was one of the crazier moves I've seen before. Either way that kind of insane activity paired with the chart would seem to indicate that this was a blow off top and that TWTR likely won't revisit this price level for a long time.
I was thinking these levels ---65.17 then 60 then 54..for the time being. The only thing that concerns me is year end..not sure if it will bump up then. I've never been good trading on quarter end or year end for that matter.
I'm not too worried about the end of the year with this thing any longer, but man it's really really really hard holding trades that are working this well. I feel like there is another easy $10 left in this trade. Well I actually feel like there is probably another $40 left in this trade short, but I won't be able to hold it. There is no way TWTR's earnings will live up to what the market has them priced at. And my best month ever was a December a few years ago. End of quarters are usually pretty good for me due to rebalancing related stuff. Overall, thinner markets have usually been better for me since they do stupid stuff.
Thats funny I slept in till 11am CST too! I had this order up on my screen last night to buy 50 contracts of bidu 170 c at limit 50c because i thought it was going back to 174 (some odd intuition I had). needless to say didn't put it in before I went to bed. Oops.
I just bought stock. It seemed like the cheapest way to do it at the time. In hindsight I should have just bought a ****load of the Jan 7.5 calls
since ive been trading more weekly options this year front week, i have to close with the trend..Its really hard for me to hold anything unless im deep in the money.
A guy I follow on twitter just pointed out JAKK as a potential short squeeze candidate. I think I'm going to pick up some Feb 7.50 calls. That would cover their next earnings.
