I’m bored so I bought options

This trading day is so slow, I think that it reminds me of manipulation Monday, where anyone with $10k in their trading account could manipulate a stock price. I’m just sad I haven’t made it to $10k yet.

In order to attempt to reach the $10k mark (and beyond), I’ve decided to follow the sheep. Though the idea is that usually the higher money can dictate in some respect where and how a market is going to move, there are often times different ways to interpret movements and positions taken by those in the money.

I’ve decided to follow the herd, though this doesn’t seem to work well for me so far, I am a retard and believe that I can truly try the same process multiple times and come out with different results.

Something I won’t do every time because I think it’s a pain in the ass, I’ve included a trading window screen shot so that you can see the position was really taken. I’m a retard, and annoying, and sarcastic, and some people insist I’m an a-hole, but nobody ever accuses me of being a liar. So just to help legitimize everything I say on here, here are some screen shots (btw: leave your requests in the comments and I’ll do what I can to fill them — proshares, I haven’t seen Lindsey since your request but will get that pic up).

Buy:
ESLR Jan08 $17.50 calls (QLUAW), 10 @ $1.95
stock price entered $18.08

And since I can’t take a chance that people will find me to be an optimist, I also decided to get some puts.

Buy:
WFC Feb08 $27.50 puts (WFCNY), 10 @ $.60
stock price when entered $31.34

Now sure, there is lots of money to lose here, but there is also lots of profit potential. The question on the profit side is if I’ll be smart enough to get out when the profit exists or if I will ride a 100% profit into a loss, like I’m doing on my AAPL puts.

While I was screen shot crazy, I took some pics of other interesting option volumes too.

Check out the $25, $27.50, and $30 put volumes below. Someone is expecting more bad news:

DTV (DirecTV) is actually the company that I use for my mind-numbing cable provider. I didn’t act on this one, but I’m sure there is some sort of news expected, the $22.50 puts had a lot of volume (and the open interest at the $15 level is pretty high compared to the other strike prices):

Finally, the most ridiculous thing that I have seen in a long time for options. Are you ready for this? Have you ever heard of GM (General Motors)? They are a decently well known car company. For those of you that are still using your Huffy to get around town, you might not know the company GM as much as their divisions (Chevrolet, Buick, Cadillac, GMC, Hummer, Pontiac, Saturn, Holden, and many more). For anyone that knows about the stock market, or automobiles, GM is a big company that had it’s stock down pretty far at one point. Since the lows, it’s done well and come up. Well…. someone thinks that GM is headed for bankruptcy I guess. Check the $10 puts. Wait, let me rewrite that. LOOK AT THE $10 PUTS VOLUME: