For Directional traders

Rob In Business,

I'm quite new to options trading and just started trading options May 2005. Have been educating myself by attending seminars, reading a lot of books on options. I give George Fontanills high marks for his The Options Course, 2nd Edition. Worth the $70.00 I paid for it.
As for my basis for picking options, I use Investools to analyze stocks and their options. I find their charts including options charts pretty good. The only thing is you have to pay to attend their seminar which is $3500.00 (I split the cost with a friend as two persons can attend for that price) before they give you access to their website. It is a 2 day seminar teaching you how to use their website and also a manual. Also, they give you 6 months free then, you have to pay $60.00 per month to use their website. I just paid my annual renewal at $579.00 for an entire year. For the record, I "do not" work for Investools but, would endorse it because I have used it and it does work unlike Wizetrade (me and my friend bought it and it was a waste of money). Investools is web based so you get a username and password and no software to install or download. All the information you can get, you will have a hard time accumulating yourself as well as wasting your time. Whether you trade stocks,
ETFs, mutual funds or options, the information on Investools will help you!!!
 
Quote from smallfil:

I don't usually go around touting any stock or option but, take a look at NUS XW.
More...

The MACD looks like its headed above water, and that bottom looks pretty solid.

The Arms index says another downdraft is in the works, so I hope you're right.

Now only if oil and gold would go down like they are supposed to...

Good luck out there!
 
Quote from smallfil:

Rob In Business,

I use Investools to analyze stocks and their options. I find their charts including options charts pretty good. The only thing is you have to pay to attend their seminar which is $3500.00. Whether you trade stocks,
ETFs, mutual funds or options, the information on Investools will help you!!!
More...


Thanks for the info - I unfortunately don't have the funds to attend right now - did you attend stateside or up in Canada where I am? Can you divulge what the stock info you got told you about NUS and IRF?
 
Sold my GGC Nov.30 calls today for a tidy 119% profit. I'd bought on Cramer's pick - 4 Oct.18 and another 2 Oct.31. Time was eroding and volume was going down on the option.


Sold my GOOG Nov.400 call @$7.20, originally bought @$6.90. Bought a GOOG Dec.420 call @$9.60, am hoping to learn to set a put buy when stock hits $400 as I'm sure of a pullback of some size when that resistance is hit.


Bought 1 DNA DEC.90 put @$2.45 this aft because of it being mentioned on the "My Options Play" thread and because it is hitting a $93 resistance it already touched at $95 beginning of Sept. I expect it to retreat at least somewhat before it continues up to breakout, if it does at all. It has been climbing since $80 and volume is dropping off.


Bought a DIA Dec.105 put @$1.30 this aft as well bcause it also was mentioned elsewhere on this site and because it has been hitting increasingly lower resistances since Aug. and this last climb is hitting a resistance of almost $106 for the second time with very much reduced volume, telling me it's ripe for a drop or retracement.


These buys are a little premature for me as I like to wait til a move is confirmed before I jump in, but I'm trying to respond to the reality that options volume and price will have gone up already by then, as suggested by CNMS2, reducing returns.
 
Rob on Business,

Check out this website www.investools.com. They probably have a "preview' seminar in your area. I'm from the United States but, I do know that they are all over. The "preview" seminar is about 3 hours and is "free". You will see the website and an overview of how to use the website to analyze stocks, ETFs, mutual funds and options (this is a different seminar for investools so, they will just touch on it). It probably would be better for you to attend the seminar than, for me to try and explain everything.
Also, get George Fontanills book, "The Options Course, 2nd Edition as this is where I learned a lot about options. I paid $70 for the book and worth every penny!!! Hope this info helps.
 
Holding DNA, DIA, GOOG puts. While GOOG is doing great - up $500 on the one put alone (Nov.390), DIA and DNA are stalling today. I am stuck in OTM Dec.4 calls on NT, will just ride them - not much to be gained by selling them. Stuck also on OTM Nov.32.50 calls on TXN - same trade-off - I'll just wait or trade them in for fewer ITM's. GOOG is down some more after-hours, am counting on another down day tomorrow.
 
Quote from smallfil:

Rob on Business,

Check out this website www.investools.com. They probably have a "preview' seminar in your area. I'm from the United States but, I do know that they are all over. The "preview" seminar is about 3 hours and is "free". You will see the website and an overview of how to use the website to analyze stocks, ETFs, mutual funds and options (this is a different seminar for investools so, they will just touch on it). It probably would be better for you to attend the seminar than, for me to try and explain everything.
Also, get George Fontanills book, "The Options Course, 2nd Edition as this is where I learned a lot about options. I paid $70 for the book and worth every penny!!! Hope this info helps.
More...

Thanks for the forward - I've registered with the site for the next local seminar. I have lots of suggested books to read now - will be a while before I get to them all. What are you playing right now?
 
Rob on business,

I have only two positions on options right now and both puts. They are NUS XW and
UGO MC. They have not moved huge enough say atleast a 3 point drop but,
I feel that it will eventually move.
Patience is the key. I remember a trade on
UWT XE and got impatient at it going up a little bit each day since I bought it. Bailed out and when I checked after a month, it would have been a good winner but, I bailed out too soon. Same with my JGQ MD
(JBLU) put which went up slightly day after day. I decided to buy calls and do a straddle----big mistake, I turned a winner into a loser as the stock went the other way.
Also, have ETFs like QQQQ and EWG for my 401K which I am just playing with for a very short term trade. Both are up slightly.
 
Quote from smallfil:

Rob on business,

I have only two positions on options right now and both puts. They are NUS XW and
UGO MC.
More...

Thanks - but what is UGO? I can't find it.

Sold My GOOG put this a.m. late for $148 profit, bought a Dec.400 call @$10.40 at the same time when the stock was going more than halfway up past yesterday's dark candle. This reversal surprised me and cost me a lot of profit as this sharp a reversal hasn't happened before on GOOG. Although I'm pretty safe with this pos'n, in hindsight, I would rather have bought 2 Nov. calls for double the return. I see that you guys stateside are closed tomorrow for Veteran's day, meaning markets won't be open til Mon. and the Nov. options have only a week to work. We'll see how bullish GOOG is then.
 
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