Bought 10 contracts QQQ 100.00 Oct03 calls at $0.24 (Last Attempt)

UPDATE

Position still open. My assumption that the first day of this quarter might be a big mover was correct, QQQ -1.56%.

:)
 
while they have better odds than lotto tickets, at least a percentage of the money from lotto tickets go to public schools and roads :)
 
donnap said:
FF, your timing seems to be off. With decent timing anything is possible. Add a little option strat. and you can improve odds.
More...




So far the P/L of all the real-time trades I have posted to ET is $3,535, not including commissions.

  • About 20 marketable trades posted to ET in real-time.
  • All long OTM positions, mostly calls.
  • Debit: $2,370 (includes the current QQQ open position).
  • Credit: $5,905
  • P/L: $3,535

After this QQQ trade expires I will post a summary of all 20 trades with links to the ET thread.


:)
 
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OPTION EXPIRY UPDATE

My attempt at catching a QQQ breakout above $100.00 has failed. But I'm still very bullish and do believe the QQQ will breakout past $100.00 within weeks.


qqq5.png

QQQ 5-Day Chart
Red Dot: Sept 30, bought 10 contracts QQQ 100.00 Oct03 calls at $0.24.



qqq365.png

QQQ 1-Year Chart
The 5 red dots represent the 5 QQQ trades listed below.


  1. Wed Aug 27 3:43 PM - QQQ at $99.45 Bought 10 contracts QQQ 100.00 Aug29 calls at $0.07 P/L (-$70.00 -100%)
  2. Wed Sep 10 3:49 PM - QQQ at $100.02 Bought 15 contracts QQQ 101.00 Sep12 calls at $0.04 P/L (-60.00 -100%)
  3. Wed Sep 17 3:15 PM - QQQ at $99.91 Bought 15 contracts QQQ 101.00 Sep20 calls at $0.04 P/L (-60.00 -100%)
  4. Wed Sep 24 3:42 PM - QQQ at $99.83 Bought 5 contracts QQQ 100.50 Sep26 calls at $0.14 P/L (-70.00 -100%)
  5. Tue Sept 30 3:37 PM - QQQ at $98.96 Bought 10 contracts QQQ 100.00 Oct03 calls at $0.24 P/L (-240.00 -100%)

  • Total P/L: -$500.00 (-100%)




:)
 
Just out of curiosity, why don't you leg in to the position instead of "all-or-nothing"?
I can see the issues if you're paying $7.95/trade, but with one of the deep-discounts, you don't really have to worry about that.
 
FXforex said:
OPTION EXPIRY UPDATE

My attempt at catching a QQQ breakout above $100.00 has failed. But I'm still very bullish and do believe the QQQ will breakout past $100.00 within weeks.


qqq5.png

QQQ 5-Day Chart
Red Dot: Sept 30, bought 10 contracts QQQ 100.00 Oct03 calls at $0.24.



qqq365.png

QQQ 1-Year Chart
The 5 red dots represent the 5 QQQ trades listed below.


  1. Wed Aug 27 3:43 PM - QQQ at $99.45 Bought 10 contracts QQQ 100.00 Aug29 calls at $0.07 P/L (-$70.00 -100%)
  2. Wed Sep 10 3:49 PM - QQQ at $100.02 Bought 15 contracts QQQ 101.00 Sep12 calls at $0.04 P/L (-60.00 -100%)
  3. Wed Sep 17 3:15 PM - QQQ at $99.91 Bought 15 contracts QQQ 101.00 Sep20 calls at $0.04 P/L (-60.00 -100%)
  4. Wed Sep 24 3:42 PM - QQQ at $99.83 Bought 5 contracts QQQ 100.50 Sep26 calls at $0.14 P/L (-70.00 -100%)
  5. Tue Sept 30 3:37 PM - QQQ at $98.96 Bought 10 contracts QQQ 100.00 Oct03 calls at $0.24 P/L (-240.00 -100%)

  • Total P/L: -$500.00 (-100%)




:)
More...
 
If you are so bullish in QQQ you had tremendous opportunity to buy low and cheap on the thursday sell-off.

Question is why didnt you ?

Buying high using weeklie options calls only works if you get a move in like the next leg, otherwise, you get P/Ls like the ones u been posting.

You need to anticipate price, when the herd sees it, its already too late.

Don't buy green, buy red, that is, if you are bullish.
 
TheGoonior said:
Just out of curiosity, why don't you leg in to the position instead of "all-or-nothing"?
I can see the issues if you're paying $7.95/trade, but with one of the deep-discounts, you don't really have to worry about that.
More...


The duration for each trade is only 2 or 3 days. To spread that out everyday would have required too much of my time.

All-or-nothing = Long OTM weekly options. IMO ...... that's the nature of buying OTM weekly options, the debit is the stop/maximum loss.



Scaleout.Scalper said:
If you are so bullish in QQQ you had tremendous opportunity to buy low and cheap on the thursday sell-off.
Question is why didnt you ?
Buying high using weeklie options calls only works if you get a move in like the next leg, otherwise, you get P/Ls like the ones u been posting.
You need to anticipate price, when the herd sees it, its already too late.
Don't buy green, buy red, that is, if you are bullish.
More...


Hindsight is 20/20 for everyone, including me. I would have liked to have bought the OTM TWTR Oct03 calls during the Thursday sell-off, and closed the position on Friday after TWTR rebounded 8%.

Q: Why didnt I?
A: Hindsight is useless for trading.

My P/L for all the trades I have posted in real-time to ET is + $3,535. I'm going to post a summary within a few days with links to all the threads.


:)
 
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FXforex said:
The duration for each trade is only 2 or 3 days. To spread that out everyday would have required too much of my time.

All-or-nothing = Long OTM weekly options. IMO ...... that's the nature of buying OTM weekly options, the debit is the stop/maximum loss.






Hindsight is 20/20 for everyone, including me. I would have liked to have bought the OTM TWTR Oct03 calls during the Thursday sell-off, and closed the position on Friday after TWTR rebounded 8%.

Q: Why didnt I?
A: Hindsight is useless for trading.

My P/L for all the trades I have posted in real-time to ET is + $3,535. I'm going to post a summary within a few days with links to all the threads.


:)
More...

It's not hindsight, it is fact that on Thursday before noon everything was way cheaper.

And I did buy the bottom, but that's besides the point.
 
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