This morning Apple was up over $1, then quickly fell to a midday low of a little over $4. About mid point to the low $4, I bought some Aug 150 call options. After I got in, apple continued to fall to its intraday low. At that point I was debating doubling up on my calls. I really wanted to but never pulled the trigger.
As it stands right now at 1:20 pm I am down .10 cents.
If I had pulled the trigger to double up I would be up .30 cents and might of actually have sold by now.
Well this trade got out of hand REALLY FAST. The stock kept dropping, when it was all said an done I was in it for 6 times than what I started out with. I did not intend to sextuplet (or whatever) my trade. I wen to double up and my broker account errored and said trade did not execute. SO I quickly entered a new order to double up. This one went through ok. I then went back to my positions page and to my surprise both orders went though, so now instead of doubling up I tripled up due to the system error (damn!) oh well. So now that I am in for triple, the stock took a HUGH hit. Dipped like 7 straight bucks. So now I am like I need to bring down my cost basis if I am going to make any kind of a profit off this trade. So I doubled my triple....ah WTF!
Needless to say the stock kept falling. Whats that saying "never try and catch a falling knife" well my hands got cut off!!!! This trade ended up being a 100% loss. This one HURT BAD!!!!
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