Here is my situation: My first ever option purchase. Last friday I bought 30 GEDG calls at $1.00 ea. the strike price is $35.00. GE closed at $35.74 on friday. GEDG ended like this: bid: .80 ask: .90 last: .95 Am I in trouble here? I'm down $600.00 right now right? any advise would be greatly appreciated!!! Thanks, Todd
Posted by Bob Frey on :
The stock needs to get to 36 plus for you to make money. If you think it will get above 36 then you should be ok.
They are still giving you a .06 premium at the moment with an .80 bid. The premium will disapear this week. By Friday you may even see a -0.05 premium or the bid going below the value.
The chart looks to me like you need to get lucky to make money above 36 from here. Looks to have been fighting the 36 level for a while.
Posted by TODDEAN on :
I don't feel lucky with this. I think their quarterly comes out friday, too late?
Posted by Bob Frey on :
May be a buy the rummer and sell the news. If I was up anyday this week I would sell. But I sell to early most of the time.
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