Friday, March 11, 2011
DRYS Map of a good Call but Not the Trade
Well sold my DRYS Mar puts at a break even trade. Had a great call on the H & S but didn't trade it so well. The problem was I couldn't short the stock so went with options and the time didn't work for me. So here we go on the Road map and follow the blue arrows.
#1 bot my Mar $5 put for 38 cents
#2 the option went to 53 cents and the stock came up to a ascending trend line made the 1st hit of the 200 average and I was gonna sell half but didn't and that was my 1st mistake.
#3 Broke the green trend line, penetrated the 200 average again but closed above. Had opportunity to sell at 45 cents and almost pulled the trigger but didn't.
#4 Well today with options X next week and the stock came into a Gap plus I just ran out of time with my option and sold at .38 cents with a actual commission lost but very minimal
Now if I could of shorted the share out right like I wanted to I still be 40 cents ahead with out time hurting me. So what next with the DRYS, well I move on to my next trade and will watch to see if any new patterns come up but not trading this stock until that occurs.
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