$Applied Materials (AMAT.US)$ not that I want to see it fall...
$Applied Materials (AMAT.US)$ not that I want to see it fall but I want to see it fall because I sold calls against a lot of tech stocks a lot of Chip stocks and I needed this to happen so I can keep my stock come tomorrow close.. throw stones at me yell at me holler at me I don't care I don't feel like starting at zero on money trying to figure out what the hell to buy cuz I sold calls against chips that have all taken off like a rocket this week
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36 yrs in the trenches, raised 100mil for start ups, syndicate ipo's, yrs on trading desk mkt maker.
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10baggerbamm OP 74483586 : no you don't get it I had an enormous position of tech prior to the sell-off . I sold a crazy amount of naked puts last Monday Tuesday Wednesday several million dollars worth they all expired worthless I made over 180,000 last week on my naked put position and then I started buying late last week and this week the companies that I sold out of and I was buying them back at higher prices and by Wednesday I didn't think the market was going to continue to rally I figured we're guaranteed to get a bad print from an economic standpoint it didn't happen it was off to the races well I had sold calls against my long positions so that's why I kind of like them to trade down a little bit not a lot just below the price of the contract