ES Journal Archive (2009 - 2010)

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Quote from BA_Trader:

I threw together this chart of the SPY options situation.
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Would you (or Vol) explain for this noob which side has the upper hand: The writers of put options or the buyers of puts?
 
I only recently started paying attention to the options situation.

AFAICT the game is: maximize the number of puts and calls that expire worthless.

Today's ES looks a lot like Friday from a volume perspective... never woke up after lunch.... the "wake up" level is 13,300 today.
 
The high put interest is contrarian. It indicates that someone is either not afraid to be short naked and does not mind if the underlying gets put to them, this could be used to cover a short or jsut to get net long or that they think spy will stay above those strikes and they expire worthless. The majority of the time the buyers lose so odds are not good for those holding long the option where large interest is.
 
Quote from BA_Trader:

I only recently started paying attention to the options situation.

AFAICT the game is: maximize the number of puts and calls that expire worthless.

Today's ES looks a lot like Friday from a volume perspective... never woke up after lunch.... the "wake up" level is 13,300 today.
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Are these on 5 min bar ?


How do you derive these volume numbers ?
 
I am going to try to prevent over trading and not trade anymore today since I ended with a profit especially since last week was not good. Going to switch to sim now if I decide to take anymore trades it will be demo.

Notice the market could not get above 1075.75. Now this was not a double top since the market did make it higher earlier in the day, but it might have been a LH.

So at 1074, I got a short signal, but got in the market at 1073.50 with 2 contracts. What I should have done was probably either waited and tried to get in at 1074 or have 1 contract set to get in there in case market was going to go straight down.

The good news is my signal did work out, and I got 1 point off on my 1st contract. For the 2nd contract, I was missing my target by .50. So at 1st I moved the target up, then I moved it even lower. Finally, I watched market and when it again got to the point where my target should have been if I got in at the right place to begin with, I closed it out for a profit giving up .50 potential profit which only is $ 25.
 
Quote from BA_Trader:

Today's ES looks a lot like Friday from a volume perspective... never woke up after lunch.... the "wake up" level is 13,300 today.
More...

This is crap. What a waste of time.

*edit*

I mean the market, not what you wrote.
 
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