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.

Please read my disclaimer at the top of the blog.

No comments:

Post a Comment