You meant Long Dec 160p yes?
iceman's options trading journal
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You meant Long Dec 160p yes?
every so often you gotta be the sucker at the table--
obviously ---- the better play was scaling into Dec 115
PUTS
- or even Dec 95/100 PUTS
Anything that had an X --- or even a W (i.e. november) --- in front of it !
It never ceases to amaze me how incorrect one can be on direction - when it seems impossible/improbable a certain move can be achieved in a given time frame-- I would NEVER have thought in this strong of a broader market environment --and the Winter months of Q4- that this stock would see 95 in such a short time period. Further it seemed so likely that the gap would be filled and the stock would resume a move to the upside. I think I failed to sufficiently weigh the recent news issues regarding oil profits.
Further in hindsight it would have behooved me to have sold more calls @ the Dec 110c strike -- once I saw the stock lose traction yesterday P.M. But with a position in options expiring 5 weeks out I didn't want to react and sell the 110 calls for a pittance of what might have been attained by exercise of patience.
Ok
I have been following TRI on another thread--
didn't enter it- so of course it began to climb higher almost 3+ points - amazing the power we can exert on the markets when we try to get too cute and find the so-called perceived perfect entry. Like it knew I was waiting to enter at <40. Guess many others also- and thus what I saw as LT support and a sweet entry level was perceived by other players.
That said ---I was once told that the market always (usually) gives you a 2nd and third opportunity to enter a position.
Also following DNA looking for a shorting opportunity via puts options... almost got in today near highs but want to unwind open front month positions this week. DNA's move today was merely expiry pressures IMHO.
still long MNX XL (DEC 160p) (mini-NDX index)
tried to buy more today-- but didn't reach my price (.65) - amazing how as soon as I conjured up the idea of averaging down- BAM- the market sold off. Like the market had a camera in my brain today. I've had other trader/friends describe the same phenomena.
Also looking to ADD to long Jan06 160 calls on MNX -- purchased some a couple weeks ago.
Whether I trade them directionally or sell Dec calls against the longs- have not decided -yet.
I have been following TRI on another thread--
didn't enter it- so of course it began to climb higher almost 3+ points - amazing the power we can exert on the markets when we try to get too cute and find the so-called perceived perfect entry. Like it knew I was waiting to enter at <40. Guess many others also- and thus what I saw as LT support and a sweet entry level was perceived by other players.
That said ---I was once told that the market always (usually) gives you a 2nd and third opportunity to enter a position.
Also following DNA looking for a shorting opportunity via puts options... almost got in today near highs but want to unwind open front month positions this week. DNA's move today was merely expiry pressures IMHO.
still long MNX XL (DEC 160p) (mini-NDX index)
tried to buy more today-- but didn't reach my price (.65) - amazing how as soon as I conjured up the idea of averaging down- BAM- the market sold off. Like the market had a camera in my brain today. I've had other trader/friends describe the same phenomena.
Also looking to ADD to long Jan06 160 calls on MNX -- purchased some a couple weeks ago.
Whether I trade them directionally or sell Dec calls against the longs- have not decided -yet.
BBY
suggest getting into calls - earlier lows were great entry level -but I opted for selling Dec 42.50p - missed my price so far-- with intent to spread against March 42.5p - and then roll higher - or lift the March IF BBY finds traction -- maybe add Jan 40p in lieu.
its my "belief" that BBY will trade above 45 - and then be marked to the 47 level.
the sell off in the stock was news and expiry related - it still remains to be seen how the Holiday season will pan out. It could gap above 50- who the H knows
suggest getting into calls - earlier lows were great entry level -but I opted for selling Dec 42.50p - missed my price so far-- with intent to spread against March 42.5p - and then roll higher - or lift the March IF BBY finds traction -- maybe add Jan 40p in lieu.
its my "belief" that BBY will trade above 45 - and then be marked to the 47 level.
the sell off in the stock was news and expiry related - it still remains to be seen how the Holiday season will pan out. It could gap above 50- who the H knows
AAPL
long AAPL Jan06 60p - will add more tommorrow IF it continues much higher (or the Jan 65p)
will open Dec 55p@ .15-20
then--- sell 2/1 or 2.5/1 -- Dec 60p (on any decent PB)
it gapped today -- so I expect we see 61.50-62 - on or just after expiry-
do not see AAPL selling off big before Dec expiry- but it is my view that it might get cracked big after New Year-- or post-Dec expiry -- and pullback to the mid/low 50s-
thus -- the 60 spread (ratioed)
will however be alert for the unexpected-- as AAPL has had a sizeable run since June
I will be able to convert this to credit - by lifting Dec 60p- then selling Dec 65p (or 70p) -- if I perceive $70 AAPL is in the cards.
PALM
gonna post a suggestion- and give it a B grade for potential profits.
buy PALM Dec05 30c @ .50-60
UPY LF
for some reason we see 4000 traded today- do we really beleive that these were all small players buying OR that a large player sold short these calls at .65-70 today? Think about it -
prior open interest was 7000 and change.
stock may still be moved lower via expiry pressures - in the direction of 25--
currently short front 25c
Ice
gonna post a suggestion- and give it a B grade for potential profits.
buy PALM Dec05 30c @ .50-60
UPY LF
for some reason we see 4000 traded today- do we really beleive that these were all small players buying OR that a large player sold short these calls at .65-70 today? Think about it -
prior open interest was 7000 and change.
stock may still be moved lower via expiry pressures - in the direction of 25--
currently short front 25c
Ice
urged getting into BBY calls when it traded down to 43.80-44-- I haven't looked yet today but is BBY higher??? :eek: :eek: DOLLRS!
OK--- lets sell calls short-- I am long BBY Jan50c-- now I am short the Dec 50c - I may buy some April 53 calls - and sell BBY Jan 53c (the 53.375 actually) OR the 47.50c
ALSO--- re-bought my AAPL January puts -- I moved into the Jan 62.50p @2.275- looking to sell the Jan 57.50p IF we ever see AAPL pullback significantly (spread).
Still think AAPL gets hammered in January. Of course while I looked for a top I gave up susbtantial profits by not trading with the trend. I'm sure I am not alone!
Still think AAPL gets hammered in January. Of course while I looked for a top I gave up susbtantial profits by not trading with the trend. I'm sure I am not alone! --- IF I was a really really good trader --- would have bought AAPL CALLS last week instead of top-fishing the past 10 days. It's just that I found it difficult to get into AAPL after it's large move since October--
OK--- lets sell calls short-- I am long BBY Jan50c-- now I am short the Dec 50c - I may buy some April 53 calls - and sell BBY Jan 53c (the 53.375 actually) OR the 47.50c
ALSO--- re-bought my AAPL January puts -- I moved into the Jan 62.50p @2.275- looking to sell the Jan 57.50p IF we ever see AAPL pullback significantly (spread).
Still think AAPL gets hammered in January. Of course while I looked for a top I gave up susbtantial profits by not trading with the trend. I'm sure I am not alone!
Still think AAPL gets hammered in January. Of course while I looked for a top I gave up susbtantial profits by not trading with the trend. I'm sure I am not alone! --- IF I was a really really good trader --- would have bought AAPL CALLS last week instead of top-fishing the past 10 days. It's just that I found it difficult to get into AAPL after it's large move since October--