First $1000 trade – First Solar FSLR @ $196.58 – 1 Contract of FEB 210 CALL @ $10


Originally uploaded by financeninja

First $1000 trade

FSLR @ $196.58 – 1 Contract of FEB 210 CALL @ $10 ($1000 plus commission). This looks like the highest probability trade so far.
Notes listed on chart. All of my charts are going up and pushing through BB’s lines building momentum into Feb 13th financial results to be shown. My GTC is up 100% @ $20 or ($2000 sale).
I expect FSLR to move around 20 points in 1 week average 5 pt move a day. My option would have to move around 12 pts to sell me out.

Now I would of liked to wait a little bit longer to get into the trade, but I waited till after all the wild trades were done and entered the trade at 11:11 A.M. EST so I’d make the first move was done to see where it would keep going. I expect it to move past 210 by Friday Feb. 8th and be sold out at $20.

Exact trade details:
Symbol: .HJQBB
Description: FSLR FEB 210 Call
Stock: FSLR at 196.58
Action: Bought To Open
Quantity: 1 contract(s)
Price: $10.00
Commission: $14.95
Reg Fees: $0.00
Net Amt: $1,014.95

6 responses

  1. If your rules say don’t buy expiration month OTM calls don’t do it… I’d get out of this on either any spike up or any move down. In other words get out. BWDIK.

    February 4, 2008 at 11:38 pm

  2. moom,

    You are totally right. I’m still not finished with my trading plan checklist for rules/system. I do have to make sure I can do a $1000 trade on a volatile stock. FSLR March Call options or even in the money could not buy me $1000 because of price, I would have to buy way out of the money in March for just 1 contract. Because of this and its very volatile and in motion I did 1 contract as close as possible to in-the-money Feburary Call. Believe me I want to sell out of it ASAP, but as long as it doesn’t have a huge dip down I’m going to ride it. I think I’m going to change my GTC order to up +5 pts instead of 10 pts. I’ll see tomorrow. The stock has to run past $200 mark to do $20 if not then I will get out luckily within 1-3 market days with a 20-100% profit if the trend will keep following up.

    I planned actually on doing INTC pull back today at $21.20 since its PEG is .95 and there is a lot of buying on it, but at the close the charts on it look like it will move down more. As for FSLR I could only buy in at 11am due to work. If I would of bought at close at $8.60 I would have entered at a better point, but the fact is I couldn’t. So I’m down -14% currently, but I’m willing to go -50% before I sell since I need a wider gap for error since I can not watch the markets all day and get in when is perfectly best.

    So what does BWDIK mean? I think I’ve seen it but never the translation?

    cheers, FN

    February 5, 2008 at 2:35 am

  3. Not regarding your post here but I did want to stop in and say – YES! He Lives!! I had just taken up residence at instead. However, I have updated the missing posts here from my old self hosted site (let the domain lapse – too poor) and the entire work is preserved for anyone to see.

    Thank you for stopping by and for saying hi. I appreciate it. And good luck to and God bless you my friend.

    February 7, 2008 at 5:57 am

  4. tradeking

    Hey ..fninja,
    Did you sell your FSLR call without taking much loss?
    This market is very ugly and can wipe out the little guys very quickly. I had a great year last year ..bu tI am looking at about 25% loss this year. Be careful is all i can say.

    February 8, 2008 at 12:38 am

  5. BWDIK is “But what do I know”.

    February 8, 2008 at 12:38 am

  6. Moom – thanks for clearing that up. You probably know a lot more then you think! Though I think you are being moom-sarcastic.

    tradeking – yeeeaaahhh, no. I’m not really in a position where I can sell suddenly and stop a loss so I buy with the conviction that my stock is going a certain away because of trend/hot stock facotrs. My losses went as much as 90% when it hit a low of $160’s. For a minute I thought I was going to lose my entire $1000 until Monday and Tuesday so far its going up, and I don’t know why? Do you know why?

    You aren’t the only one with a loss beginning 2008. The majority of everyone is in a panic because stocks haven’t took a position going up or down…..BUT look at AAPL this stock has a perfect trend going down and the iPhone is still selling really hot. I’ve been seeing a big downtrend happening. Everyone is too optimistic. That is my opinion. I just see solar sector as really hot and will stay that way because oil is a problem and solar could help solve it which means money in solar, BWDIK!!

    thanks for the comment, wish you some “luck” days in the market. -fn

    February 11, 2008 at 11:52 pm

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