C has a bright future

Today I fgured that I would buy some C (Citigroup) options, and just wasn’t sure if I should buy puts or calls.  Sometimes I make a decision based on nothing more than just clicking whatever is closest to me for clicking upon.  Calls it is!

25 calls seems like a good quantity.  I’m not likely to make much money on this, but I’m only looking for a couple hundred dollars.  Maybe a thousand.  My impatience will surely teach me a lesson here.

Instead of being smarter about this and researching February vs. March options, checking out the latest action, checking the charts, looking at the VIX and TRIN and whatever other indicators.  Nope.  I just looked at the volume and followed the herd.

Buy:
C Feb08 $30 calls (CBF), 25 @ $.72
   stock price entered $29.26

I’ll start selling this tomorrow, maybe all at once or maybe I’ll try to show some restraint and just sell a few options at a time.  I’m more of an all-in kind of guy though.

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Posted: February 4, 2008 at 3:11 pm

Posted By: Michael

News Category: C

 

 

2 Responses to “C has a bright future”

  1. [...] a banking stock to go up?  I’m out of my mind.. I don’t reall what made me decide on February 4th to buy calls on C (Citigroup), but I might have been drunk.  I surely didn’t listen to my [...]

    Losing thousands of dollars on 14 Feb 2008 at 12:55 pm

  2. [...] on February 4th, I decided that C (Citigroup) was going to turn positive and announce something spectacular, so I [...]

    Losing pride, shame, and $7,270 on 18 Feb 2008 at 4:51 pm
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