ES Journal - 2013

[rroverx]

Quote from tortoise:

my guess: this morning's gap filled by eod

am I missing the gap here? i don't see it

 

[tortoise]

Quote from rroverx:

am I missing the gap here? i don't see it

are you looking at an rth chart of the es?


I should add I no longer expect a gap fill. That would be extraordinary, indeed, and perhaps incontrovertible evidence that markets are no longer permitted to function as markets.

 

[Josef K]

Quote from Josef K:

ES hourly. There should be a breakout from this consolidation area in the next few days. My bias is that it will be to the downside. I'm long SPY June 165 puts from yesterday.

I'm out of this. Bought the puts for $2.18, sold them for $4.38.

 

[gmst]

long 1615 looking for a scalp only

 

[gmst]

Quote from gmst:

long 1615 looking for a scalp only

out for +2

 

[gmst]

Quote from Josef K:

I'm out of this. Bought the puts for $2.18, sold them for $4.38.

you earned 2.20 on 40 put options for a profit of 40*2.2 = 88 USD? or is it 88*50 or is it 88*100?
i trade only futures so trying to understand

 

[Josef K]

Its 88*100. Options are quoted as price per share, and there are 100 shares in a standard contract.

 

[gmst]

Quote from Josef K:

Its 88*100. Options are quoted as price per share, and there are 100 shares in a standard contract.

Thats what i suspected. Irrespective of money, it was a great trade in terms of timing ability. I guess some pnl would have come from vega as well since market is going down and i guess volatility might have inched up a bit. Kudos!!

 

[startraitor]

Wish the broader market would break, willshire and r2k.

 

[Josef K]

Thanks! I was originally targeting 160 on SPY, but I decided to just grab the profits that I had in case we had another bounce. Now it looks like that's not going to happen.