ETFC Jan 2010 $5 calls

[MrSer]

I'm a fairly new trader and i was looking at ETFC. I think this stock is good pick at the moment and is tremendously undervalued. I also was looking for the Jan 2010 5.00$ call at .80 cents a contract. I'm not going to be risking a lot just the extra money i have from working weekends approximately 1000$. What are your guys views on this? If my mind changes most likely i will be putting puts on some stocks in the financial sector as i think it will turn around during mid 08. Hopefully you guys can help me out here, thanks!

~MrSer

[aiki14]

I'm a fairly new trader and i was looking at ETFC. I think this stock is good pick at the moment and is tremendously undervalued. I also was looking for the Jan 2010 5.00$ call at .80 cents a contract. I'm not going to be risking a lot just the extra money i have from working weekends approximately 1000$. What are your guys views on this? If my mind changes most likely i will be putting puts on some stocks in the financial sector as i think it will turn around during mid 08. Hopefully you guys can help me out here, thanks!

~MrSer

I am showing those calls at .90 by 1.00, still, I would say they are a reasonable speculation.

[MrSer]

I am showing those calls at .90 by 1.00, still, I would say they are a reasonable speculation.

I except them to drop a little bit tomorrow hopefully i can nab some at .80 each think this is a good deal? You don't know how much other peoples thoughts matter to me. :D

[MrSer]

went in with the jan 2010 7.50 $ call at .60 cents. Hopefully it will give me some profit. Cross my fingers this was a big gamble. :|

[wallstreetsedge]

its a 2.50 difference for calls that are 20¢ different, why would you wanna go with the further out strike price? if i wanted to go long on etfc - even though i dont liek it, i would have said go with stock and sell calls against it or just create a spread.. buy the 2010's and everyvmonth sell calls against your position

[MrSer]

Was a 60 cent difference at the time that i brought it. 7.50$ was .60 and 5.00 was 1.20. Well its at .65 by .75 at the close so i got a little under 10% if i would of sold. Hopefully the weeks to come will be good to e-trade.

[wallstreetsedge]

jghly doubt it... were only at the beginning of this subprime mess... even capital one announced today that defaults are getting bigger than recently anticipated

plus you wanted this for a longer term hold right?

[MrSer]

jghly doubt it... were only at the beginning of this subprime mess... even capital one announced today that defaults are getting bigger than recently anticipated

plus you wanted this for a longer term hold right?

Yes i did want it for a long term hold.

[MrSer]

Some major luck on my side. If their earnings report is good on the 24th this thing could be in the double digits. I highly doubt that. At least today was a good day. +22%. 8)

[MrSer]

Hahaha thank you lord. brought 100 contracts at .60 eac. Now they are .95. :)

[wallstreetsedge]

looking to get out? i would

[MrSer]

Going to keep my profited options

[wallstreetsedge]

should have went with those 5's.. what if etfc gets bought out at 6? the 7.50s go worthless

[MrSer]

Sold all for a profit of 50% and brought some risky puts with the money hopefully they will pay off. If not will buy some long term aapl + ma options.