Bank of America (BAC, $14.60, up $1.91) touched $15 earlier this morning and the June 13 calls (BYOFM, $3.10, up $1.38) have added another 80%. These call options opened at $1.15 yesterday and have shot to the moon. Sell half now.
I took advantage of the action in BofA by purchasing some of the May 15 calls (BYOEO, $1.00, up $0.75) yesterday, right around lunchtime. I only picked up 8 contracts and I got them for 21 cents. This was more of a risky trade and I felt safer putting everybody in the June calls. However, I am a day trader by heart and felt like “going to the casino”. The total cost of the trade was under $175 and this morning I closed the position at 88 cents. It was good for over $500.
To put things in perspective, if you can make $500 a day or $2,000 a week trading; that is like making a $100,000 a year my friends. If I can make you just $500 a week that would mean an extra $25,000 a year in your pocket.
Las Vegas Sands (LVS, $10.07, down $0.18) has turned negative after a strong opening. The stock opened at $10.92 and hit a high of $11.10. I mentioned this morning to sell half of the June 15 calls (LVSFZ, $0.50, down $0.05) if you got in at 35 cents and you doubled your money. The call options hit a high of 70 cents this morning and are fading. I wouldn’t initiate new positions here.