CL Redux

Quote from riskaddict:

It should coincide with a nice dollar rally so long as bubble ben and Obama stop screwing us up the corn hole.
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So what are you going to do about those short puts? If you wanted to, you could quickly turn it into a spread and buy the 100's and essentially cap your loss profile, but I'd be damned if I got caught selling naked on CL.
 
Quote from REI_Chris:

So what are you going to do about those short puts? If you wanted to, you could quickly turn it into a spread and buy the 100's and essentially cap your loss profile, but I'd be damned if I got caught selling naked on CL.
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I probably won't do anything, if we go back up to 103.75ish I'll short more underlying and then just unwind everything if we go down to the 100 day ma which I guess would be the next major support area. If it goes up to 103.75 and I get more net short and it continues to go up then I still do nothing because I don't yet know where I would put a stop plus I still have the short puts working for me or maybe I would sell more puts. Oh yeah I missed one option if it doesn't go up to 103.75 and just continues to go down to 100 day ma I still unwind everything there but I just don't make as much.

Just to clarify as of right now I'm short 2 CLs and 3 102 apr puts so I only have like a -700 something delta.

Wtf is happening to the dollar right now?
 
I thought this thing went up every friday afternoon. The dollar WTI relationship has turned to mush but could it rekindle that spark? Only this time wti will be the dollar's bitch. Pure speculation of course but sometimes it pays off.
 

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Quote from riskaddict:

I thought this thing went up every friday afternoon. The dollar WTI relationship has turned to mush but could it rekindle that spark? Only this time wti will be the dollar's bitch. Pure speculation of course but sometimes it pays off.
More...

CL ran into heavy established trendline resistance ~413 which would have been an easy 50-100 ticks depending on your reward parameters late Friday afternoon. I wasn't at my computer unfortunately. Just pointing out the way it's been following great TA this past week/s.
 
It may sound silly but since I stopped frequenting this site as often as I did my performance has been crazy. I have also not listened to any sort of financial related news for a month. I read this interview once a week for inspiration and it's pretty much all I need.

http://www.mercenarytrader.com/2011/03/interview-with-a-trading-legend-part-i/

It seems like through my boredom I would sit here and look for meaningless setups just to have something to talk about. I have no idea what I'll do when it gets cold out again :p
 
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