timing was almost perfect
first time I bought an expiring OTM option call. this was the last day, and it jumped 1500%! I really almost sold this morning for 10 lol. glad I waited.
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I love to study companies and Candle Stick formations. My goal is to become a full-time trader.
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SupersonicBee BURRY : For otm, what's your selection criteria?
Sean Parker OP SupersonicBee BURRY : to be completely honest, this was a gamble based only on a high amount of volume. I used the unusual option finder that moomoo offers. I don't normally buy OTM options. if i do, i would look for low float stocks or high volatility, preferably both. I also try to look at at least the last 2 quarter reports to see if the Company is making steady progress or stagnating. having a high P/B is also a plus. check resent news or even go to the companies websites and look for things they're talking about that may not be in the news yet.
there are a ton of things to look for, but volume and public interest determines if the price will move or not.
the best time to buy is when the Company is doing the worst sadly. I look for companies that got shorted to the ground. they will buy back eventually and the options price will rise faster than the stock price.
I hope that helps, I'm at my real job so this took awhile to write lol. good luck!
SupersonicBee BURRY Sean Parker OP : But how do you check the low float stocks? The one with high Iv means that the stocks are in demand. Thank you for the write ups.
Sean Parker OP SupersonicBee BURRY : you can see the size of the float when you click on stock. sound has a high float size but like i said i got it based only on the fact that someone bought thousands of them. I figured they had to know something to be betting that much money