2020: a dest odyssey

[nooby_mcnoob]

I don't get it @destriero. You clearly have more than enough net worth to retire, you probably don't even need your partnership gig.

I asked before and you responded but I don't believe you are doing this for $$$.

Why would anyone want to retire if they enjoy what they do?

 

[destriero]

I bought 400 shares CMG at 41 and flat D here. Vol has dropped a bit. MTM loss of $60, so essentially unch due to vol-mark.

 

[Kopafeelski]

destriero,

Long time lurker on ET who never saw a reason to post and this may be the wrong thread to post this but I just wanted to say thanks. I took something you said (actually a few things) in another thread that resonated with me and thought would work well with with minimal heartburn along with a short term direction "predictor" I created and have used for some time.

I know it's early and bad days will occur, but I have been able to minimize risk while leaving most of the profit potential in place. It's only been four weeks since combining what I had with some concepts you discussed and so far up 34% in that time.

Thanks for sharing and best of luck in 2020

 

[destriero]

destriero,

Long time lurker on ET who never saw a reason to post and this may be the wrong thread to post this but I just wanted to say thanks. I took something you said (actually a few things) in another thread that resonated with me and thought would work well with with minimal heartburn along with a short term direction "predictor" I created and have used for some time.

I know it's early and bad days will occur, but I have been able to minimize risk while leaving most of the profit potential in place. It's only been four weeks since combining what I had with some concepts you discussed and so far up 34% in that time.

Thanks for sharing and best of luck in 2020

Same to you. Great to hear.

 

[destriero]

 

[destriero]

I don't get it @destriero. You clearly have more than enough net worth to retire, you probably don't even need your partnership gig.

I asked before and you responded but I don't believe you are doing this for $$$.

No, it's for the money. It's complicated.

We've been looking at property in San Diego for a couple years. My oldest was going to run track at UCSD on an athletic ride. I liquidated the IRA and most of my taxable account for that purpose. I got an offer to trade for the partnership which had been a FO in Dallas, but it required an equity stake. I also have a huge tax nut for 2019 gains and the IRA liquidation as virtually all of the gains were organic and date back to 1993-4.

My kid decided to go to a different school.

But yeah, I like what I do.

 

[destriero]

I am net+ on the trade, but I don't have a handle on CMG, other than I hate the name for 2020. There's very little volume in the shares. I have never traded it professionally, and now I remember why. I doubt this will last beyond the week. May have another trade for the day.

 

[destriero]

I have a small (3-lot) 231P fly on it SPX. Done as the combo (synthetic). Expires Monday.



Up $362 from inception.

 

[guru]

I have a small (3-lot) 231P fly on it SPX. Done as the combo (synthetic). Expires Monday.

View attachment 216092

Up $362 from inception.

Wait a sec. So you don't really trade but watch paint dry and get paid for it, more than all those traders trading all day long?!
That’s genius.
Happy New Year!

 

[Overnight]

Wait a sec. So you don't really trade but watch paint dry and get paid for it, more than all those traders trading all day long?!
Happy New Year!

He's not watching paint dry, per se. He's effectively doing what I used to do, which is watch your position over a longer term than a day-trade. That is watching paint dry. But he's doing it hedged. At least he has options, man.