Hah! He's going to be going to work everyday now as a *civil servant* even more miserable than before.
But hey we all have those *hindsight downers*.
I sold 4,000 ounces of gold, gold that I vowed to hold forever, somewhere around $270 an ounce in the late 90s.
That'd be $4,000,000 today.
It almost goes without saying that as a trader for 16 years, I have plenty of *could-have* stomach-turning memories. But at least the sheer volume of them has numbed the pain. Plus I have too much other non-monetary stuff to be grateful for to even think about self-flagellation.
See also - Cheapness And Its Ramifications.
2 comments:
So you remember when Goldman dropped like 20$ one day on that CDS debacle? Well that news came out on option expiration day, good timing right. I had about 200 180 puts on at around .08, I figured what the heck and upped it to 500 puts. $4 g's, not a huge trade, moved to .12 and I figured they would end up expiring worthless so I took them off. Got up from my desk went to the bathroom came back and GS moves from like 181 to 170, proceeds to hit 156 that day. Do the math, b/c I won't. We've all been there, some hurt worse than others.
OUCH.
I always loved to buy expiration day puts/calls in big chunks.
But I'd never sell them out when they were OTM.
I would always wait until they were in-the-money and I'd turn them into 1-hour synthetics.
Of course it never really worked out. I'd do stock against them too early or the stock would never break the strike in the first place.
Was fun though. Got me dreaming for a day like a J6Pack with his scratch tix.
And when I was in the pit I could buy *teeny* options from Moron traders that I hated. It was even more fun trying to pick off the jerks standing next to me - with all the taunts, psychological warfare, etc.
My palladium dump at $226 hurts too.
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