StockFetcher Forums · General Discussion · AAPL Watch<< 1 2 3 >>Post Follow-up
7,051 posts
msg #81396
Ignore karennma
10/19/2009 7:19:44 PM

I just hope I can get OUT @ the open!

4,689 posts
msg #81399
Ignore Eman93
10/19/2009 7:23:36 PM

Way to go K....

What secondarys are a good watch off the apple news?

4,599 posts
msg #81400
Ignore Kevin_in_GA
10/19/2009 7:45:22 PM


Ask and ye shall receive.

Stocks correlated with AAPL

4,599 posts
msg #81401
Ignore Kevin_in_GA
10/19/2009 8:01:30 PM

Looking at these "correlated" stocks, I have never seen many of them. Not sure if this is helpful or not.

7,051 posts
msg #81445
Ignore karennma
10/20/2009 11:54:16 AM

I didn't make much money on my OTM AAPL calls .. enough to buy cat food.
I'm very disappointed.
I'll hold onto the puts .. or just let them expire.

4,599 posts
msg #81464
Ignore Kevin_in_GA
10/20/2009 9:29:08 PM

Here was my thinking on this today:

AAPL hit it's 52 week high AH yesterday (in fact, it hit its all time high). Absolutely going to be a gap up today, which argues that I should take a short position at the open - I then would set my exit at 1% below my entry and wait.

Cleverly, I decided to buy the $200 Nov put (APVWT) instead, which was at $14.25 at the close yesterday. It opened at $5.80, and got to as high as $7.20 by lunch. It closed at $6.50 (up 12% on the day). Sweet! The fade the gap works like a charm!

At least, that's how it was supposed to go ...

What happened is that my buy order was filled at $14.25 (200 contracts) because I hit SEND a minute before the open. I lost about $13,000 right out of the gate.


While I royally screwed this one up because I thought the options prices were real-time at 9:28 AM, like stocks are, the underlying concept seems to be valid.

My plan is to try this again on YHOO tomorrow morning (again, paper trading for now since I can't trade options through my 401k) since they smoked their earnings estimates. Their stock is at $18.04, a 52 week high and outside the upper BB. I am anticipating a black candle tomorrow, so I'm thinking about buying the Nov 18.00 puts (YHQWS, closed at $1.25 today) just AFTER the open when I see YHOO either cross TRO's Buy Zone, or when I see three consecutive red candles.

This week is interesting because of the earnings reports:

Monday- AAPL
Tuesday- YHOO
Wednesday- EBAY
Thursday- AMZN
Friday- MSFT

I am playing this week with my paper trading account - I'm almost entirely in cash right now, waiting to see how things evolve.

I would be interested in people's thoughts on buying the puts the morning after a good earnings announcement. Seems like an easy gap fade to play.


434 posts
msg #81467
Ignore BarTune1
10/20/2009 9:49:56 PM

Lots to learn Kevin, one rule is to never ever enter a market order before the market opens .... I learned the hard way many years ago .... always use a limit order .... and, you are sometimes better off waiting for the dust to settle (although it may be hard to fade the gap that way) ... implied volatility can also spike at the open resulting in an artificially high price, there can also be a lack of buyers or sellers as the case may be ...

Keep up your paper trading!

4,599 posts
msg #81468
Ignore Kevin_in_GA
10/20/2009 10:36:17 PM

Paper trading - good for the pocketbook right now. I can try out different strategies without risk, and hopefully learn more as I go.

7,051 posts
msg #81507
Ignore karennma
10/21/2009 3:09:06 PM

well, I ain't paper trading ...
and the AAPL calls I sold yesterday at practically break-even, TRIPLED TODAY.
#*$(*($# @)_$_ +_+ !!!

4,599 posts
msg #81509
Ignore Kevin_in_GA
10/21/2009 4:07:33 PM

Sorry, Karen.

The puts obviously took a hit today - I think the Nov 200 put is at 3.20 or so.

M4M is posting some outrageous AAPL option numbers in another thread right now.

Like I indicated yesterday, I paper traded the Nov $18.00 puts on YHOO today - bought 200 contracts @$0.74, sold them at $0.84 around 3:30. So far the "day after earnings" fade the gap worked for both AAPL and YHOO.

I'll be looking at EBAY, AMGN, NE, and others that are widely held to see if any knocked it out of the park after hours.

StockFetcher Forums · General Discussion · AAPL Watch<< 1 2 3 >>Post Follow-up

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