magic journal of doom
- Thread starter magicz
- Start date
Found a good opportunity this week and took it, ELN IV climbed for the past week on news that will becoming out next month. So I sold a strangle 10 Jun 29,23@2.00. for less then 2 week until exp. I am looking to hold this till Friday or Monday is the latest. stop gain @.75, stop lost @2.5.
MYGN IV been dropping the past week and today was a 15% drop. I am trying to buy back the strangle @.7 , remember I sold this 2 week ago @3.75. I am trying to close this out because the risk/reward on the last $750 is too high at this point.
There are few I am looking at, that are setting up nicely but this is probably the last of the biotechs for this summer. This sector is very slow during the summer months because all the major health conference have passed and the only play is with pending FDA news.
MYGN IV been dropping the past week and today was a 15% drop. I am trying to buy back the strangle @.7 , remember I sold this 2 week ago @3.75. I am trying to close this out because the risk/reward on the last $750 is too high at this point.
There are few I am looking at, that are setting up nicely but this is probably the last of the biotechs for this summer. This sector is very slow during the summer months because all the major health conference have passed and the only play is with pending FDA news.
out of MYGN@.7 I will be rolling into the July today or tomorrow. the long fly at 45 looked good. I might do a combo though a 45 fly and a strangle around 35-75. I have to do a little graphing first and see.
oh and the ELN strangle is down to 1.6. So I am a third the way home in just 30 mins.
oh and the ELN strangle is down to 1.6. So I am a third the way home in just 30 mins.
ELN IV took a dump today. It was little unexpected, I estimated it would be at least 3-5 days for IV to decay into this level. It went from 110+ to around 78 this morning. I bought back my strangle @.6 which is better then my soft stop gain @.75. This close to exp. sometimes you get lucky with high IV stocks and this was one of those time.
I have no position open after I closed ELN out. ELN is still a good play for July if you have a bias on the phase III data and IV is still very high. MYGN is IMO a good play in July if you use a neutral strat.
I have no position open after I closed ELN out. ELN is still a good play for July if you have a bias on the phase III data and IV is still very high. MYGN is IMO a good play in July if you use a neutral strat.
First of all I want to say I made a bonehead move today, its been a while since I had one and I didn't get hurt much. But a dumb move needs to be pointed out.
I had 2 order sitting there live and I took lunch and forgot to clear it. You guess it, it got filled when the underlying went against my ask prices.
a SVNT strangle got filled and also a ELN strangle got filled at a very unfavorable price for me. Also my vert on JRCC went against me too while I was merrily eating pizza at the hut. If anyone want to care to look at the charts for the last hour of trading today will see the moves. It was from 12-1PM west coast time. Remind me to never have open orders when I am going to be away from your desk!!!!!!!!!
SVNT sold 10 jun 30,22.5@1.00 now @1.15
JRCC @1.2 now @1.65
ELN sold 10 jun 28,25@1.25 now @1.7
These position are still ok and workable but I don't like. If I was at my desk I wouldn't be in these positions or if I took them it would be closed or at more favorable prices. I'll probably throw in the towel first thing tomorrow unless something miraculous happen.
Gonna go to the range and hit a few balls!!!!!!
I had 2 order sitting there live and I took lunch and forgot to clear it. You guess it, it got filled when the underlying went against my ask prices.
a SVNT strangle got filled and also a ELN strangle got filled at a very unfavorable price for me. Also my vert on JRCC went against me too while I was merrily eating pizza at the hut. If anyone want to care to look at the charts for the last hour of trading today will see the moves. It was from 12-1PM west coast time. Remind me to never have open orders when I am going to be away from your desk!!!!!!!!!
SVNT sold 10 jun 30,22.5@1.00 now @1.15
JRCC @1.2 now @1.65
ELN sold 10 jun 28,25@1.25 now @1.7
These position are still ok and workable but I don't like. If I was at my desk I wouldn't be in these positions or if I took them it would be closed or at more favorable prices. I'll probably throw in the towel first thing tomorrow unless something miraculous happen.
Gonna go to the range and hit a few balls!!!!!!
Did I say I need a miracle? well let just say I got it! JRCC and ELN this morning recovered and now my bonehead move turn out to be a lucky mistake. I hate trading to be lucky. This will get your account to zero more often then make money. If one rely on luck too often you will crash and burn but once in awhile you need a bit of luck... 
coal spot price and inventory will be out on Monday. Report will probably make JRCC move and I need to keep an eye on it. I am looking for a higher or flat price increase in spot.
ELN and SVNT will probably stay in range till exp. unless news are out. which will not likely be this coming week.
ELN and SVNT will probably stay in range till exp. unless news are out. which will not likely be this coming week.
ACAD phase II of a secondary drug had bad news in this morning and crushed the stock. This is now a biotech zombie for a long time going forward. I will take this off my short list and into my zombie list.
My position is holding up well this morning JRCC is still on a bull rush up 2 point as I am writting this.
My position is holding up well this morning JRCC is still on a bull rush up 2 point as I am writting this.
ELN came out with mixed news today the stock move up a little at around 28. bought back my strangle @1.00. no point keeping it when I can lose money with 3 days left. profit after coms is $100, way better then losing!!!
JRCC is still very bullish the coal spot prices are still going up. it was up $9 from last week spot.
I still got the SVNT and JRCC position.
JRCC is still very bullish the coal spot prices are still going up. it was up $9 from last week spot.
I still got the SVNT and JRCC position.