iBankCoin

King of the Peanut Gallery

Joined Jan 1, 1970
1,010 Blog Posts

Position Update: SEED

Tue Mar 25, 2008 1:49pm EST 6 Comments

Bought [[SEED]] Apr 5.00 straddle this morning (h/t: Ragin’ Cajun); sold half the calls (+400% on the day) at market close to lock in a break-even for the position.

Now playing the earnings-game with just the house’s money. Dy-no-mite!

[youtube:http://www.youtube.com/watch?v=LkXKT1FQESI 450 300]

Took similar action with the [[CSUN]] strangle (earnings tomorrow morning). Full update later tonight.

UPDATE:  SEED earnings are out. Immediate reaction has been positive. Conference call tomorrow morning.

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6 comments

  1. Cajun
    Cajun
    March 25, 2008 at 3:03 pm

    Sweet!

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  2. Woodshedder
    Woodshedder
    March 25, 2008 at 3:45 pm

    Yo Kingis,

    What’s the chance of you doing a post about straddles and strangles? Maybe walk me through the process, and how one profits?

    If you have the time, it would be appreciated.

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  3. patrick
    patrick
    March 25, 2008 at 4:03 pm

    Great job with SEED!

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  4. TraderCaddy
    TraderCaddy
    March 25, 2008 at 5:26 pm

    Good trade. Every once in awhile (like today) I think of scalping SEED but the speed of the transactions scare me. So I stick with the MOO ETF when the Ags run.

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  5. hattery
    hattery
    March 25, 2008 at 6:50 pm

    hell yeah, that’s the way it’s supposed to be done. Nice trading

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