Decided (not that I’ve other choice) to take profit today as it’s the Friday Expiration for options for the month of Dec 2007. Overall the stock markets were more positive and broad-based with Dow up by 3-digits and Nasdaq jumped more than 30-points. What a day to lock in profit. Please note that I let my option positions to run as it was deep in the money and the only thing I was looking for was the stock prices movement. There’s no more time-value. Only intrinsic value was my buddy and the timing couldn’t be better to take whatever profit left.
First it was Google’s GOOG Dec 630 Call that got triggered. Then it’s the Priceline’s PCLN Dec 100 Call’s turn to make some pocket monies. It was almost two months wait to lock in the profit, not that there wasn’t any opportunity before but I decided to hold on despite the recent major pullback. Remember when I said it was silly that the technology-stocks were punished for the mistakes done by the financial institutions? I didn’t run naked with the rest of the panicky but my profit surely was eroded by those events.
I could but preferred not to wait and see if both Google Inc. (Nasdaq: GOOG, stock) and Priceline.com Incorporated (Nasdaq: PCLN, stock) could break-up from its current high at the later part of the trading hours. But I decided to hold on for Apple Inc. to shows how far it could go since the speculation of Apple’s 3G iPhone might makes its landing in Japan. Yeah, I might be greedy with Apple’s AAPL Jan 2008 165 and AAPL Apr 2008 180 Calls but I still have some little time to check things out. Furthermore compare to Google which shows very strong resistance above $698 and Priceline’s resistance above $118, Apple didn’t behave in such manner.
So, let’s see if Dow and Nasdaq could go even higher to which the rest of the regional stock markets depend very much on it when Monday’s trading starts.
Other Articles That May Interest You …
|
|
December 21st, 2007 by financetwitter
|
|
|
|
|
|
|
Comments
hello tony,
i’m not google expert though i use its search engine everyday … 🙂
yes i’ve made some money trading GOOG before earnings announcement …
thanx for your alert on AAPL and yes, the expo is the main attraction which could bring some moolah into your pocket, the same way when steve announced the iphone previously …
merry christmas to you too tony …
cheers …
Hi Google Expert :
Congrats on your profit on GOOG and PCLN. Guess you are quite good with judging the price movement of GOOG, its support/resistance level, breakout point etc.
Have you ever trade GOOG towards or after earnings announcement? GOOG would usually make dramatic movement for earnings.
Regarding Apple (AAPL), do take note that AAPL tend to trend run up towards Mac Expo Conference (BUT not always) sometime around early January where new Mac products would usually be unveiled by Mr Steve Jobs.
Have a Merry Christmas, my friend 🙂
Yours Truly,
Tony Chai
My Options Trading Blog