May be timing was not that correct but I have a feeling that Friday move was too big for the market. Some selling can be expected next week with possible earnings warnings by big guys.
Another point : I also can use this put as insurance policy for going long on the same.
QQQ=Resistance...
The rally came earlier than expected, thanks to program trading. The DOW jump is too much for a single day. This is also with light volume. So we can really expect lot of people who were on short coming to cover their shorts. This will help the rally to go little further.
You can also expect...
I am going to buy enough MSFT calls on Friday. July 5-11 is likely to bring the market to a top. Then just before the MSFT earning I will buy August 50 puts. I have doubt that market can continue to get sold like this. The rally next week is imminent until next big earnings bad news.
Yes , You are absolutely correct. A different trader would have bought at support using the same information and then would have got burnt if you look at it from another angle.
I have realised that a trader needs to absorb information from multiple reliable sources.
Today's strategy:
I...
See the above strategy and now see the range. Unfortunately I did not buy additional July 50 puts as I already have 52 at 1.25 that I bought earlier.
MSQSJ (MSFT July 50 Put)
Morning Range 0.95-1.05
Afternoon Range 1.25-1.30
So a safe return of 25% for the day. Isnt that enough for an...
Post Time : 09:14 ET
MSFT Trading Strategy based on Econsul Support and Resistance:
1. Buy August 50 Puts when MSFT is above 54.50
2. Close all existing July Puts during the week of if MSFT is at
support 52.50.
3. Weekly low of 49.50 is expected.
Does the 30 trades mean 30 contracts or trades with any number of contracts. ?
Please confirm if my understanding as stated below is correct.
Trading 30 Contracts irrespective of number of trades
at IB cost $30.00
Trading a maximum of 20 contracts with 2 trades at Options Xpress...
End of Day 06/28/02
I placed limit orders in the morning as follows.
MSQGL (MSFT July 60 calls) to buy at 0.30 - Did not get filled.
MSQSJ (MSFT July 50 Puts) to buy at 0.75 - No fill.
MSQSJ (MSFT July 50 Puts) to sell at 1.50 - No fill , no where near.
Econsul comparison...
By mistake I posted reply in the other thread. There was some confusion as I entered the thread by clicking an e.mail link.
Please refer my answer in the other thread.
Now it looks like that MSFT is rallying. Market gurus are saying that the market will rally due to following reasons.
1. Oversold condition
2. End of Quarter Window Dressing
3. July Effect ( I think Independence Day Holiday effect) It has
been rallying in the past and it would...
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