Global Macro Trading Journal

Those FCX 29.5 puts I was short are toast now, will go off the board at 0. I'm interested to see if IB charges me anything. FU to the market makers who were asking $0.05 for those things last week.

So ends a multi-month, highly profitable chapter being short FCX (being long puts). What a pleasure it's been to take a wildly popular, cheap (if you listen to its fans) stock and profitably sell the hell out of it on two occasions. Best of luck to the FCX fans, and some advice to them: get the hell out of your parents' basement, change your filthy boxer shorts, take a shower, and get out and see the world.

BTW, is anyone else here using twitter? I use it religiously now. This conversation would be a lot more fun and a lot better there.
 
Any options guys, I have a question.

Bought a few Sept 45 calls on SSO at $0.43 before the close on Friday before I knew the slightest bit about the mechanics other than that SSO is a double-leveraged S&P etf.

This morning, I get around to checking the chart of the Sept 45 calls. I notice that around the start of July, these calls were trading for less than $2 even though the underlying was trading around $55. What gives?
 
BAC headed for liquidation. Rumor is Bernanke will say no to QE3 at JH and instead move right to QE's 4 and 5.

Not as much of a joke as it seems. When central planners are confronted with clear evidence of their failings, their response is never acceptance or accountability, it is always to say not enough was done and double down.
 
Quote from ralph00:

BAC headed for liquidation. Rumor is Bernanke will say no to QE3 at JH and instead move right to QE's 4 and 5.

Not as much of a joke as it seems. When central planners are confronted with clear evidence of their failings, their response is never acceptance or accountability, it is always to say not enough was done and double down.
More...

I coulda shoulda woulda shorted BAC on that break of 6.75 earlier ... can't bring myself to pull the trigger now
 
You must log in or register to reply here.
Back
Top