Earlier today I entered $PCLN $1192.50 calls with the stock struggling to hold $1180 and only 3 hours left in the trading day. I gave my rational via audio in the optionmillionaires chat room. The day was dull, downside was not coming, volume was light, it would be a perfect day to trade some long lotto calls.
I was already in the $AMZN $307.50 calls from earlier in the week, and I added some in the morning at $.63, I was looking for another way to capitalize on the late day rally I thought would come.
My private tweet from 3 hours before todays close:
$PCLN pure spec lotto trade $1192.50 expire in 3 hours are $.35 1% move makes these 1,000% gain
The late day rally came to fruition, $PCLN stampeded to over $1197.00 and the calls I tweeted about ended up being a great way to end a great week.
A $350 purchase of calls could be sold for $5,000 at the high today.
It was a speculative trade, but one I thought could prove worth the risk. I noted that a 1% move could make a 1,000% gain for these options. A move from .35 to 5.00 is more than a 1,000% gain. It was a great way to end the week.'
I am not the perfect trader and these gains are not the norm, but they do happen rather frequently.
With all the stock pundits noting weak small caps would sink the market this week, we were thinking big and it paid off.
Have a great memorial day weekend.