The letter C, not just a vitamin

The letter C, not just a vitaminSometimes when I look for an option to buy, I actually think about things that are easy for a retard like myself to remember. In this case, a single letter.  C.  Citigroup is not only a big company, but all the employees hate vegetables, just like me!

While I was waiting for my option trade to go through, I took a picture of something that I find sort of funny.  One penny.  It wasn’t just a Lincoln copper penny, it was the difference between the buy and the ask on C.
C March 08 $30 call

Finally the stock dropped another huge amount ($.02) and my buy went through.  Now I have 5 call options on C!  The odd thing about my buy is that I had the 5 call options being asked for at that level (March 2008 $30) and when the stock was at $26.69 there were no options available at the $1.00 price, but the stock changed to $26.67 and the order went through.  Then another couple seconds and people were trying to get $1.00 for their options and there were no takers.

Buy:
C Mar08 $30 calls (CCF), 5 @ $1.00
   stock price when entered $26.67

C March 08 $30 call

What am I going to do with this trade?  I’ll let it double and then sell my options.  Not double?  Triple?  Whatever happens it will be awesome profit.

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Posted By: Michael

News Category: C, Options

 

 

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