Back again!!

Sorry all who read this, probably very few, but I had to take a break after losing my ass last week. I got way too risky in options buying, oct expiring options and buying options in companies whom I did little research. The only way to win though is to not replicate mistakes, so I'll outline my mistakes.

1. Buying BBW options and not selling until after earnings was a mistake. I had planned to sell before earnings and need to learn if I have to take a loss before earnings, then just do it. It's not the end of the world and if you have a plan you need to stick with it.

2. Buying SNDK without doing any research was a horrible idea. Since INTC reported a strong quarter, and said flash memory was good for them...I assumed SNDK would blow away expectations. What happened in reality was expectations were already built up, so when SNDK reported better than average results it wasn't up to street expectations. Long term I think SNDK will be great. The correct call would have been buy some stock or long term options before earnings and add to it if they disappoint.

3. Buying a FEB cat option before earnings was ultimately a bad decision even though they had one of the best quarters ever. Their forward looking guidance put a dent in the stock price, but I'm not quite sure why.... If their international gains continue, then they should keep making profits and hitting expectations. Anyways, It's a feb expiring option so I have time to make it up.

Now with that said, I did make a pretty penny on INTC options. I did, however, take a 'free ride'. I did an illegal trade, let me explain. I bought options which auto-exercised at expiry. I then owed the bank 10000, but instead of paying it I sold my shares for a gain. I technically was trading with money that wasn't mine; so I had done what was called a free ride. I would have been on probation for 90 days, however, I moved money from my roth over and money from my other account before the trade settled. So now I'm not on trading probation.