icemans' IRA trading Journal

Quote from volatilitypimp:

also, u just gave me a great calendar spread candidate in EBAY. IV near low end of range(7th %ile), under 30 IV, slightly overpriced to HV(SV)31%. underlying not trending sharply.:)
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you know what -- I am certain EBAY will trade to 4250. you know what is holding it down IMHO? Damn open interest on the 40 and 4250 calls --- while there are significantly less open interest on the put side. That was my concern when entering these OTM calls even though I didn't pay much for them. Anyone (and there are many on ET) who say open interest does not define trading ranges/levels on underlyings as we get within 2-3 weeks of expiry is wrong, inexperienced AND/or just doesn't know how to read open interest.
 
Quote from volatilitypimp:

I hope you feel better soon!:)
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thanks bro

this year Chicago has had a warm winter so my doc friends say lots of normally real healthy people coming down with it. But I was never one to believe in 'misery loves company"! :D :D
 
Quote from iceman1:

you know what -- I am certain EBAY will trade to 4250. you know what is holding it down IMHO? Damn open interest on the 40 and 4250 calls --- while there are significantly less open interest on the put side. That was my concern when entering these OTM calls even though I didn't pay much for them. Anyone (and there are many on ET) who say open interest does not define trading ranges/levels on underlyings as we get within 2-3 weeks of expiry is wrong, inexperienced AND/or just doesn't know how to read open interest.
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p.s.

I actually have sold a bunch of April 4250c and March 40c @ >2-230 - so I don't know why I am bitching so much since if EBAY stays lower I make out on these shorts. But since some of the calls cover long stock AND I have 40/4250p bull spreads - I do better when/if EBAY trades to $4250-43
 
Quote from volatilitypimp:

I feel your pain ice. Seems to happen to me as well.:( Did u get my pm message? I sent the NASD a similar letter about the PDT rule(in their broker complaint form). I'm guessing the likelihood of them responding to me is about as good as a 8 sigma event!lol

vp
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if there any way you can send me a copy of what you wrote to NASD as attachment to a PM or in email to

jackal_689@lycos.com

that's

jackal (underscore) 689
 
OIH

bought 5 OIH CF @7.30 (oil sv. march 130 calls)
sold 5 OIH CF @8.40

PnL +540


+ 3 OIH CG (135c) @5.30


+ 5 MNX EX @2.95
(mini-100 May 17250c)

open orders

order buying 5 mnx EX @2.55
order buying 5 JBLU Jan05 15c @.85
order buying 4 OIH CG @4.30


Looking to short more CME as I think we will see a GOOG scenario soon. Stock is way out of line. Expect to see CME <400 easily. Not IF but WHEN!
 
EBAY

+10 Ebay March 37.50 Calls @2.45

obviously my 20 EBAY March 4250 Calls are beaten to a pulp. GOOG saw to that. Will roll into April 4250 calls.

So far I have been wrong on EBAY - and very disappointed. That's what we get for trading a stock that is <200 ema AND has a ton of open interest at the 40 and 4250 call strikes. Serves me right actually.

So IF (when) you "lose" don't lose the lesson!

However I am short almost 20 March 40c and April 4250c in two other trading accounts@ prices >2- 2.35.

So I'm gonna take the shot on these front month 3750 Calls in this IRA - in an effort to recoup a few bucks IF EBAY is marked higher later this week when things settle down.

Tight stop at 1.95 bid.

day order buying 10 Ebay April 37.50p at .90 on cboe
 
Quote from iceman1:

EBAY


obviously my 20 EBAY March 4250 Calls are beaten to a pulp. GOOG saw to that. Will roll into April 4250 calls.

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Bummer on the EBAY also - I made it quick trade in my IRA after you gave the heads up. Fit my criteria for a quick trade. Thanks.

Do enjoy your commentary.

Make 'em pretty, Chris
 
Quote from DblArrow:

Bummer on the EBAY also - I made it quick trade in my IRA after you gave the heads up. Fit my criteria for a quick trade. Thanks.

Do enjoy your commentary.

Make 'em pretty, Chris
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Thanks

you traded March 4250c or the 3750 calls ?

It is not beyond possibility that EBAY march 4250 Calls still trade back to >1. Unlikely but not impossible. :eek:

Witness GOOG today.
 
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