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Amtrak Reflections
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Thank you for something to consider that is new to me!  (option 2)

Let me see if I can give you a few options for your SAND calls.

1) You can sell your options that you bought at .30 for .50, and make a nice little profit….

2) Because there’s still about four months to December option expiration, you could sell the same number of calls that you own, at the higher strike of 8, and create a “call spread.” On a 1 year chart for SAND, there looks to be some resistance in the $7 range. Even if the stock ran up to the area of $8.18 by the December option expiration ( reached this past March), your 7 calls would be worth $1.18, and your short 8 calls would be in the money by .18. That’s a net return on the spread of $1.00 ( minus your initial investment of .30), or .70.

3) Just continue to hold your Dec. 7 calls and see how high the stock can continue to climb by December expiration, and then cash them out.

Hope this helps a little.

is for any of you options traders.  Preferably successful ones.  🙂

https://twitter.com/WallStreetSilv/status/1558589327659061248

Rich,

If a couple of weeks ago you had bought a couple of Dec SAND 7 calls for .30, and they are now worth .50, what would you do?

We’ll have to see if anyone goes to jail. I wouldn’t be surprised if they just get a fine … ridiculous as that is.

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JPMorgan Gold Traders Found Guilty After Long Spoofing Trial | The WealthAdvisor

“The case was the biggest yet in a crackdown by the US Justice Department. Nowak, the managing director in charge of the desk, and Smith, its top trader, were convicted of fraud, spoofing, market manipulation. The government alleged the precious-metals business at JPMorgan was run as a criminal enterprise, though the jury acquitted all three men of a separate racketeering charge.

“They had the power to move the market, the power to manipulate the worldwide price of gold,” prosecutor Avi Perry said during closing arguments.”