StockFetcher Forums · General Discussion · AMZN Earnings Watch<< 1 2 3 4 5 >>Post Follow-up
4,599 posts
msg #81653
Ignore Kevin_in_GA
10/23/2009 5:19:27 PM


1. While I usually dislike emoticons, I must congratulate you on your learning how to do this in the forum threads. Well done.

2. I asked about after hours purchases because I know you can trade stocks AH, so I thought it might be possible. Also, earlier this week I bought some options a few minutes before the bell, and they were at the close price from the day before.

Anyway, here's the messages i got:

Sent: Oct 23 2009 04:07 PM
Subject: OPEN: #47 BUY 20 BPJKK
Account #A0006950 OPEN: Order #47 BUY 20 BPJKK Nov09 500.00 CALL @ 3.90 Limit DAY to Open

Sent: Oct 23 2009 04:07 PM
Subject: FILLED: #47 BOT 20 BPJKK @ 3.90
Account #XXXX-6950 FILLED: Order #47 BOT 20 BPJKK Nov09 500.00 CALL @3.90 to Open

Filled the order at 4:07 PM. I guess we'll wait and see on Monday.

806 posts
msg #81656
10/23/2009 5:46:26 PM

i actually made 88 million dollars on amzn calls today for a customet of mine- i had a ton of calls from the last 2 days

115 posts
msg #81691
Ignore machismo
10/24/2009 4:01:26 PM

- machismo 10/23/2009 3:44:56 PM
I am sorry karennma if my quesiton sounds stupid since I don't know much about options, but do you trade naked options, if yes with which broker ? Thanks.

NAKED .. always.
I don't "own" any stocks.
I recenlty opened an account with OptionsHouse because now that I'm only trading options, the commissions had become prohibitive at my regular brokerage. 2 Weeks ago, I put in an order to buy 1,000 option contracts on AAPL and commission was $1,250. THAT is outrageous!
Unlike, poster M4M, I am NOT making "millions" trading options, therefore, it would be ridiculous for me to pay such a fee.
At OptionsHouse, you can trade up to 4,000 contracts for only $10.

Ok so in a Naked call option like QZNKD.X for Amazon if one would have bought calls at previous close of .20 they can sell now at 4.85 or before expiration and not have to buy the actual stock any time ?? (e.g buy 10 QZNKD.X at .20 cost = $200, sell 10 QZNKD.X at 4.85 =$4850)

I could not find much about naked options online except this wiki link
And according to that you have to buy the stock when the call is exercised, which is kinda confusing.

7,051 posts
msg #81696
Ignore karennma
10/24/2009 5:20:56 PM


Re: buying "naked" calls ...
The option gives you the "right" to "bet" the stock will go in the direction you THINK it will go.
(calls - up, puts - down)
When you buy the option, you don't necessarily own the stock. You've only purchased the right to place the "bet".
Basically, you're betting that YOUR JUDGMENT is correct.
Diff. between your buy price and your sale price = profit.
If you're right, you make money; if you're wrong, you lose.


115 posts
msg #81699
Ignore machismo
10/24/2009 6:34:35 PM

Thanks karennma, I think optionhouse also has virutal trade available to try, so I'll try that out.

36 posts
msg #81755
Ignore traderseb
10/26/2009 7:19:52 AM

I think "Naked" Calls refers to selling call options to open a position for stocks that you do not own. Considered very risky. Buying call options is not related to whether you own the stock or not.

StockFetcher Forums · General Discussion · AMZN Earnings Watch<< 1 2 3 4 5 >>Post Follow-up

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