iceman's options trading journal

Quote from Multioption:

PD and several other stocks are on my radar.
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the 155 puts I mentioned in my Journal went up 3+ today (PD MK)

I think you can get long calls on PD at some point today or tomorrow- do the ITMs

also - look for an entry in NTES - I suggest buying a straddle or strangle-

I am long a 60/55 diagonal strangle and have spread both sides now on recent swings

also keep CME on radar for a lng entry- I'd say go short- but for me I already missed the recent move lower-- and albeit CME may trade much lower in the Spring of this year - I believe the next best trade is from the long side.

Of course CME may still have 5-7 more points to the dowside from recent lows -- and that would not surprpise me - but nothing surprises me about CME.

Right now I am long CME calls - can always spead them if I don't get more traction off yesterday's lows. I am looking for 370+ in the st. (about 50% retrace of recent minor trend lower)

could be wrong so do your own DD
 
CME

long 4 CME Jan 370c (avg 5.2)

short 1 CME Jan 360c @ 10.20


1. lift 360c and convert to bull vertical -- selling 380c depending on CME action - and premiums, or

2. sell 3 more Jan 360c
 
AAPL


short 400 AAPL (avg = 74.70)

short 6 AAPL Jan 75p @ 3.20

still short (ratioed) Jan 67.50p/long 6250p


long 4 AAPL Jan 80c @ 1.05 (looking to spread with Jan 75c)
 
Quote from iceman1:

AAPL


short 400 AAPL (avg = 74.70)

short 6 AAPL Jan 75p @ 3.20

still short (ratioed) Jan 67.50p/long 6250p


long 4 AAPL Jan 80c @ 1.05 (looking to spread with Jan 75c)
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going to cover AAPL if it trades at/near 73.20 - for a day trade- and next time - will look to do more size !

Since I have been doing options for so long - prior to the amended rules for day trading-- I am not accustomed to utilizing day trading 4/1 BP to intra-day trading-

Next time I get a signal will take 800-1200 minimum short - and shorten the time period. Just don't want to trade 5-10K on equities anymore. Perhaps I will change my mind later in the year.

I still like to trade smaller size as I think you can make plenty without subjecting the accounts to large drawdowns. Back in the late 80s-90s a buddy of mine (who ran a small boutique fund on Wacker Drive) and myself used to always debate position sizing -- since he would witness my repeated accuracy --- but would notice that I had such huge size -- I was not able to manage the positions as well for maximum profits.

When I lowered size - looking for a much higher % win rate- and a longer holding time frame-- profits went up accordingly. He by the way was a GREAT bond trader. Very patience and cool individual.

However now that the markets are more active - I think it it time to increase size- of course we still have to deal with the absurd retail overnight (non SPAN/portfolio) margining on options and stocks in that regard .

- it is still my bias is AAPL gets clobbered in Q1- it just depends on WHEN - and from what level.
 
start the engines - HUM closing in on measuring objective

preparing to enter short - via short calls/puts - or underlying - but gonna sit tight , keep it on radar screen and see if "they" can mark it up nearer to 59-60....!

plan is to open the position in the upper 50s-60 and trade it back to minimum 55 --- perhaps 52-53. Not sure we can look for it to trade <50 (i.e. fill gap). Depends on what broader market does. But one never knows. Fundamentals apparently fueling this breakaway.
 
Quote from riskarb:

Nice call on CME longs. I was long a bit of delta as well. I'm still waiting for you to honor your challenge made to me. :p
More...

This sounds like a Battle to me!!!!!!
 
Quote from riskarb:

Nice call on CME longs. I was long a bit of delta as well. I'm still waiting for you to honor your challenge made to me. :p
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thanks

isn't there some kind of trading contest coming up soon-- in the last issue of "Trader" I thought I saw it ?

check it out

>>2006 World Cup Trading Championships (in January TASC Mag- page 3) - actually a firm out of Chicago is running it --- only -- no options division- only forex/stock or futures

http://www.robbins-trading.com/pdf/wccst2006.pdf

(looks like options can be used in said contest)
 
Robbins charges an obscene commish for trades cleared through the competition. $25,000 traded through you broker of choice; best return for the quarter wins?
 
Quote from riskarb:

Robbins charges an obscene commish for trades cleared through the competition. $25,000 traded through you broker of choice; best return for the quarter wins?
More...

sent you a PM
 
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