Wednesday, December 10, 2008

Self Proclaimed: StockTwits.com Trade of the Day! ~ Freeport-McMoRan Copper & Gold Inc.(Public, NYSE:FCX)


... 50%+ PROFIT in under a half hour!!!
go team.
~ Make sure to follow BOTD on StockTwits.com


p.s. How's FAZ doing? .... we refuse to watch until $55+





All times PST (add 3 hours) ... trade starts at the bottom, sold at the top ;-)

28 comments:

Tim said...

Great trade...

FAZ @ $42.28 and trying to climb higher.

BUY ON THE DIP said...

MON puts.

81.35 -0.38 (-0.46%)

BUY ON THE DIP said...

MON is not an $80 stock.

Anonymous said...

What about a play on the JAN $80 Puts? They have a conf call in JAN...

BUY ON THE DIP said...

yes. and 2010 leaps.

Anonymous said...

BOTD


WE ARE CUMING BACK .. FAZ

Anonymous said...

BOTD

YOU LOOKING TO ADD ANYTHING AT THE BELL '

kevin said...

You know...if you hit caps lock, you won't type in caps :)

Anonymous said...

Just added $GS Jan $90 Calls $1.95

$4 Dec Calls at .09

$EEV Dec Calls $60 at $4.20

BUY ON THE DIP said...

looks like we sold early. doh!

FCX calls...
1.91 +1.22 (+176.81%)

BUY ON THE DIP said...

LOL kevin, thanks.

it helps identify "THAT PERSON"... not so anonymous>??

kevin said...

lol true

DMK said...

BOTD, why did you buy FCX today?

jigdaddy said...

how many contracts do you reccomend buying when playing w/ options?

BUY ON THE DIP said...

RE: "BOTD, why did you buy FCX today?"

FCX is part of UYM, so being LONG UYM, we like to watch the components.

check the FCX chart, at about 12:00 eastern it shot up and we saw "unusual options activity" ... then jumped on the DEC 22.50s , rode it for 75%ish, and took profits. albeit a bit too early, same thing happened yesterday with X calls. had we held those through til today, (up 53% more) wouldda been nice.

its 2008, ... must take profits.

BUY ON THE DIP said...

RE: "how many contracts do you reccomend buying when playing w/ options?"

we look at "open interest" size. make sure its big enough to get in and out of the trade easily.

then depending on your current portfolio blend,... the idea, your cash size , etc .. position accordingly.

not sure if that helps...

Big Mike said...

BOTD

on the open intrest. what if a stock only has 3000 open intrest, and your up 100%, does someone have to buy the contracts before you can get the 100%? or how does the trade work?

is it just like when you buy and sale a common stock?

BUY ON THE DIP said...

you need a buyer.

and we dont recommend short term or day trading if the open interest isn't big. if the stock goes against you quickly, you wont be able to get out at "your price" .... you'll also get bored, since it wont move much.

find ones with big open interest and then its just like trading a stock.

TraderTamas said...

Thanks for the options tips BOTD!

I never knew that.

I'm long FAZ since 36.7

Anonymous said...

eev
got killed today
55.86-7.66 (-12.06%)

Big Mike said...

BOTD

Thanks for the info big help!

DMK said...

BOTD, Thanks for the tips. Do you have a site that shows 'unusual options activity'??

jigdaddy said...

thank BOTD!

jbreedlove said...

Anyone thinking about starting a small position in TBT?

BUY ON THE DIP said...

DMK,

when in doubt 'type it into google' ;-)

unusual options activity.

elkate said...

BOTD,

Do you still hold spls Dec. puts we are currently down big on them? do you plan to hold it until expiration even if SPLS will not go lower than they are now?

P.S. where is stockhustler, we miss him.

Thanks,

Elad.

BUY ON THE DIP said...

yes. the SPLS DEC puts aren't working.

the thesis is solid.

commercial real estate, office product spending, retail in general, all bad!

.... we might need to roll out a few months.

elkate said...

just a rookie here, can you explain more "rolling out"? How do we do it. I am sure they will go down hard, it will just take longer than we thought.

Thanks,

Elad.