Buying put options on BP - good idea???

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  • TheStout
    Confirmed User
    • Jul 2007
    • 2089

    #1

    Buying put options on BP - good idea???

    What do you guys think?

    August 16 strike price of $45.

    $355 (100 shares)

    Its at $46.11 now

    Thoughts???
  • Barefootsies
    Choice is an Illusion
    • Feb 2005
    • 42635

    #2
    Do you have a link or something?

    I have not heard about this.
    Should You Email Your Members?

    Link1 | Link2 | Link3

    Enough Said.

    "Would you rather live like a king for a year or like a prince forever?"

    Comment

    • TheStout
      Confirmed User
      • Jul 2007
      • 2089

      #3
      Originally posted by Barefootsies
      Do you have a link or something?

      I have not heard about this.
      lol what?

      Do I have a link to the info I just laid out? no I dont. You have not heard about what exactly? The ability to purchase put options? Or is this just your new "See Sig" system. Very creative.

      Comment

      • TheStout
        Confirmed User
        • Jul 2007
        • 2089

        #4
        but for those that might have some opinions

        http://online.wsj.com/quotes/options...news-symbol=BP

        Comment

        • Why
          MFBA
          • Mar 2003
          • 7230

          #5
          id say its a pretty sure bet!

          Comment

          • Barefootsies
            Choice is an Illusion
            • Feb 2005
            • 42635

            #6
            Thanks champ.
            Should You Email Your Members?

            Link1 | Link2 | Link3

            Enough Said.

            "Would you rather live like a king for a year or like a prince forever?"

            Comment

            • woj
              <&(©¿©)&>
              • Jul 2002
              • 47880

              #7
              they've been hit hard as is, what makes you think they will sink even more? If anything I would buy some calls, lol
              Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000
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              Comment

              • Karupted Charles
                Confirmed User
                • Jul 2001
                • 1662

                #8
                The stock is already trading down on the bad news its way late for this. Its been a long time since i messed with puts but I believe your exposure if it goes way up is equal to an uncovered call is it not?
                TPF 2010 "They are eating our sausages!"

                Comment

                • TheStout
                  Confirmed User
                  • Jul 2007
                  • 2089

                  #9
                  Originally posted by woj
                  they've been hit hard as is, what makes you think they will sink even more? If anything I would buy some calls, lol
                  Maybe this thread is 3 weeks late then.

                  Comment

                  • ~Ray
                    visit hardlinks.org
                    • Jun 2003
                    • 18361

                    #10
                    when they begin using the word "stabalize" then it's time to buy.
                    Adult Backlinks for Adult Websites - Testimonials Available

                    Comment

                    • LoveSandra
                      So Fucking Banned
                      • Aug 2008
                      • 10551

                      #11
                      Originally posted by TheStout
                      but for those that might have some opinions

                      http://online.wsj.com/quotes/options...news-symbol=BP

                      Comment

                      • L-Pink
                        working on my tan
                        • Mar 2005
                        • 39151

                        #12
                        Sounds like a great way to lose your ass.


                        .

                        Comment

                        • TheStout
                          Confirmed User
                          • Jul 2007
                          • 2089

                          #13
                          Originally posted by L-Pink
                          Sounds like a great way to lose your ass.


                          .
                          Why do you say that? I am banking that the price of the stock will drop a bit more.

                          Comment

                          • The Demon
                            Confirmed User
                            • Apr 2003
                            • 7336

                            #14
                            I wouldn't lay down put options just yet. If I were you though, I would hedge your bet and get calls and puts, 66% puts 33% calls to at least attempt to cover your ass.
                            Greed is Good

                            Comment

                            • SmokeyTheBear
                              ►SouthOfHeaven
                              • Jun 2004
                              • 28609

                              #15
                              i will post my comment mid august
                              hatisblack at yahoo.com

                              Comment

                              • TheStout
                                Confirmed User
                                • Jul 2007
                                • 2089

                                #16
                                Originally posted by SmokeyTheBear
                                i will post my comment mid august
                                lol always a winner then

                                Comment

                                • L-Pink
                                  working on my tan
                                  • Mar 2005
                                  • 39151

                                  #17
                                  Originally posted by TheStout
                                  Why do you say that? I am banking that the price of the stock will drop a bit more.
                                  It will also rise as the price of oil goes up due to the "new shortage" they helped create.

                                  Remember this is oil.


                                  .

                                  Comment

                                  • TheStout
                                    Confirmed User
                                    • Jul 2007
                                    • 2089

                                    #18
                                    Originally posted by L-Pink
                                    It will also rise as the price of oil goes up due to the "new shortage" they helped create.

                                    Remember this is oil.


                                    .
                                    Not all oil companies rise when the price of oil increases. There are many reasons why BP has fallen recently and they could slide more.

                                    Comment

                                    • TheStout
                                      Confirmed User
                                      • Jul 2007
                                      • 2089

                                      #19
                                      Was down to $40 today. Rallying a bit with the rest of the market

                                      Comment

                                      • TheStout
                                        Confirmed User
                                        • Jul 2007
                                        • 2089

                                        #20
                                        Ahhhhh,

                                        Feels good $31.59 right now. Under $30 yesterday.

                                        Comment

                                        • Marcus Aurelius
                                          No Refunds Issued.
                                          • Apr 2003
                                          • 14809

                                          #21
                                          Originally posted by TheStout
                                          Why do you say that? I am banking that the price of the stock will drop a bit more.
                                          Sounds like you've already made up your mind.

                                          Why ask for advise then?

                                          Comment

                                          • bronco67
                                            Too lazy to set a custom title
                                            • Dec 2006
                                            • 29026

                                            #22
                                            I think they'll go bankrupt over this. Might be better to invest in a rival(or two).
                                            Last edited by bronco67; 06-10-2010, 08:05 AM.

                                            Comment

                                            • TheStout
                                              Confirmed User
                                              • Jul 2007
                                              • 2089

                                              #23
                                              Originally posted by Marcus Aurelius
                                              Sounds like you've already made up your mind.

                                              Why ask for advise then?
                                              My last post was more of a happy sigh of relief. I asked what people thought 3 weeks ago.

                                              Comment

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