OK... color me confused. Why? The reason it's cheap is it is about to go off the board and it is out of the money.

What are you after here?
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I am after nothing. It was .07. Throwing $70 bucks on 10 contracts was just for giggles.

Have some calls at 22.5 on BAC expiring next week. Do you think the rate hike could work in my favor?
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I don't honestly have any idea. I've never traded an option on stocks. I've only traded them in commodity futures, and you damn sure want to be out of them come first notice day. In the futures, they can run guys that have positions that don't want to deliver the product.
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I've made money on USO in the past. It is so cheap, even if I lose $70. So what.

Best recently was buying 10.5 calls at .09 and selling at .84.
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I have ZERO credit card debt. Only debt I have is my car and it's now about $13,400- I will pay off in 2017.
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Nice. I should read up on stock option strategies. I'm sure they are far different than commodity markets.
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There are plenty of free video resources out there that will help you learn all about options. So many ways to make money. So many ways to lose money too.

BAC closed at 22.55 today. I bought late last night, out of the money at .26 per contract for 22.5 calls. 20 contracts. The options are at .44 now. If I sold out, that would have been a nice day's work in the money. But I'm waiting and still have 8 days.
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Options are designed for risk hedging, folks..
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Right. So was the CBOT. But that doesn't mean speculation doesn't occur.
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It's just a fun game. And it can be done without a substantial investment.
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Bought 12 calls on USO last Friday at .07. Opening bell today they jumped to .18. On a $72 dollar investment the return so far is 175%. Market value of $218.

USO 10.5 put's are basically kaput but no reason not to see it to the end. $70 investment has a market value of $15. Loss of market value, 81%. No reason not to ride it out.

BAC I won't get too specific but market value on initial investment has risen 201% in less than 10 days.

Options are so fun.
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Anyone participated in, or looked closely into MOMO or Momentum Day Trading? Is there truly a rhythm and reason or are these guys scam artists selling coursework?

Thoughts?
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Forget daytrading. Learn the basics of options and go from there. Watch the news. Pay attention to the company you want to invest in. Learn about the company want to invest in. Watch the markets daily.

Get a program like TC2000. Set up a account with a firm like TDAmeritrade or similar.
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There are a shitload of scams but some legit stuff. A lot of it is complicated and takes a lot of calculus to actually calculate. It also takes a pretty sizeable amount of capital to start as there will be losses.
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This thread has delivered! :-)
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