iceman's options trading journal
- Thread starter iceman1
- Start date
right now (12/14/05) I'm sitting here nursing short VLO Dec 110c- will they expire @ -0- ? I may sell some Dec 110p - buy Jan
looks like VLO dec 100c will expire -0-
yeahh baaabby
did sell 1/3 size VLO 110 puts @ 1.70
and bought + Jan 110p @5.30
debit = $3.60
also went long VLO Jan 120c @ 1.45 - will likely convert into a backspread- to see if I can milk some $$- then convert into bear spread.
-- best would be for VLO to pin @ 1.10
day order to buy AAPL Jan 80 calls @ 1.15
looks like VLO dec 100c will expire -0-
yeahh baaabby
did sell 1/3 size VLO 110 puts @ 1.70
and bought + Jan 110p @5.30
debit = $3.60
also went long VLO Jan 120c @ 1.45 - will likely convert into a backspread- to see if I can milk some $$- then convert into bear spread.
-- best would be for VLO to pin @ 1.10
day order to buy AAPL Jan 80 calls @ 1.15
stock just broke 58 as anticipated- amazing its holding up so well with oil stocks down for epxiry pinning- but it already had it's triple witch action .
orders to buy Jan06 57.50c
5 @ 1.85
10 @ 1.75
and will buy 10 more at 1.55
may tweak it if COP picks up downside mo - still looking for a close near 57.50- we will see, however
Quote from iceman1:
right now (12/14/05) I'm sitting here nursing short VLO Dec 110c- will they expire @ -0- ? I may sell some Dec 110p - buy Jan
looks like VLO dec 100c will expire -0-
yeahh baaabby
did sell 1/3 size VLO 110 puts @ 1.70
and bought + Jan 110p @5.30
debit = $3.60
also went long VLO Jan 120c @ 1.45 - will likely convert into a backspread- to see if I can milk some $$- then convert into bear spread.
-- best would be for VLO to pin @ 1.10
day order to buy AAPL Jan 80 calls @ 1.15
well- if its not broken - DON'T fix it.
I sold the Dec 110P on VLO - and got hammered - didn't analyze the pin correctly and got too cute -- but the good news was my idea to buy the same quantity Jan 55p (i.e. calendar) and of course these went up - albeit slightly less.
However in hindsight- should have just kept my stinkin 110c short- and let them expire worthless-- or scratched them if they moved the stock to >56 . Perfect example of screwing up a wet dream.
IMCL = 34.2 (+2)
knew it was going near 35- and what better day to mark it up than on triple witch.
ICe
sold Feb 35c @ 2.20/long Jan 35c @ 1.20- from earlier/bought Feb 30c @ 5.30/sold Jan 30c at 4.15/sold Feb 30p @ 1.60 (earlier this week)
10 each strike
plan is to
1. close Feb 30p- then look to roll into Jan 35p (or Feb 35p) on large PB if any
2. and/OR close Jan 30c on similar PB post-expiry
3. sell more Feb 35c at that time - 2/1 ratio to Feb 30c
in other words, trade the position for profits on all strikes while still mananging risk -- and not tying up too much capital IF I don't get the swing moves I expect.
I am familar with the underlying and how it trades- been range bound for a while now - as we see.
anyone following IMCL look for a nice day trade short IF and when it trades >35-35.50 -IMHO