Covered My Houston Rockets Over Play
If you have been following this blog then you know that I purchased the Houston Rockets Over 54.5 Wins for the season contract in January for a price of 10 at Tradesports. This means that I was risking $100 to possibly win $900 should I hold the contract through to expiration and the Rockets managed to win 55 games or more. At the time, Houston was having a disappointing season.
In that post however, I mentioned that for this particular trade I was not looking to hold until expiration. I was simply going to wait for them to have a hot streak and then sell the contract at a profit. I felt that the Rockets were better than their record and would manage to get a winning streak together at some point. The reward looked better than the risk at the time. Little did I know that they would put together a historical hot streak which would have the world watching!
Anyway, true to my trading plan I covered the position today and sold the contract at 60. This represents a five times profit on my risk money. Perhaps you are wondering how anybody could sell a contract on such a hot team? I could. I have been around long enough to learn that trading profits are usually made by buying when nobody else wants to buy and selling when nobody else wants to sell.
I remember the day I entered the trade. I was shopping all the NBA over/under wins contracts and this was the only one I could find that I thought had any real value in it. I like good risk/reward ratios on good teams that are capable of coming through. that goes for halftime wagers on teams that are behind as well as playoff futures propositions. I suggest that you look for the same thing. Or just keep reading this blog!
Technorati Tags: Houston rockets, Nba, Sports betting
