CL Redux

Quote from cdcaveman:

hey.. not to interupt.. but if any of you energy traders.. know anything about some of these energy curves.. take a look at my post.. could use some insight ..

http://www.elitetrader.com/vb/showthread.php?threadid=265065
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Sounds like a plan to me. What strikes? I would be selling the jun 4.5 calls and buy the 4.5 nov or dec calls. When I plop this in the analyze tool I get a cool seagull looking formation and even if iv spikes by 5% in the short run it doesn't seems to have that adverse of an effect. Is IV always this high in NG or is it normal? Compared to oil even as of late it seems high. Or are you just talking about shorting and buying the actual contracts?

I guess it all depends on how much you think it will correct. 3.80 Seems reasonable. But it could also go to 5 first. It could also be 60 degrees right through December. But the nice thing about spreading is you can adjust along the way.

I am in no way an energy trader or an options trader I know a real energy trader that works at SIG and what she knows off the top of her head makes my eyes glaze over and I usually just end up staring at her tits..
 
Quote from riskaddict:

Sounds like a plan to me. What strikes? I would be selling the jun 4.5 calls and buy the 4.5 nov or dec calls. When I plop this in the analyze tool I get a cool seagull looking formation and even if iv spikes by 5% in the short run it doesn't seems to have that adverse of an effect. Is IV always this high in NG or is it normal? Compared to oil even as of late it seems high. Or are you just talking about shorting and buying the actual contracts?

I guess it all depends on how much you think it will correct. 3.80 Seems reasonable. But it could also go to 5 first. It could also be 60 degrees right through December. But the nice thing about spreading is you can adjust along the way.

I am in no way an energy trader or an options trader I know a real energy trader that works at SIG and what she knows off the top of her head makes my eyes glaze over and I usually just end up staring at her tits..
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i'm going to answer you in the other thread..
 
Tried to get in on a possible double bottom on Sun for a long trade, but CL broke out to upside and left me alone with no trade.

CL was breaking out again on Mon. Chased a little for 1st trade and it immediately went against me. When it started going my way, I moved up stop and got stopped out for a slight loss before CL continued moving up. Problem with this trade was not moving up my stop but chasing it too much. Should have waited for a pullback to get long where I could maintain a reasonable stop.

CL looked like it could make a LH or double top so shorted for my last and final trade in order to not over trade. CL briefly spiked a tiny bit higher before moving down. As trade went my way I maintained my target for this scalp while moving my stop down not to BE but a little above. CL hit target on better entry since I did not chase. Overall made profit due to risk and trade control. Stopping for day.
 
Quote from riskaddict:



looking for 89+ to start getting short again. 2011.
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Well I should have been taking profits at 88 instead of hedging. But here we are again. Low risk high reward for a short right here at .30. You will know if you are wrong real fast. For some reason I think all the stop are gonna gets filled just above here we'll pop to 91 at 10pm and that will be that.
 
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