My option trades
- Thread starter ryanpatrick
- Start date
Well played, when you say $0.33 on the shorts does that imply 2x$0.155?
Yep, I was in for 25 flys risking $450. Netted $1410 after unloading the 15's for $.02 and commissions. Now I gotta take a week off or something, whenever I have a big winner I have a habit of going extra big on a loser.
Ok I am ashamed of myself for posting that. Here is something to think about for newer traders ( not you Falcon...
). If you were short calls on Rimm yesterday for example you could have bought the stock back cheap after hours, you now have locked your position. Maybe someone else can explain this better. I don't think it occurs to most retail traders to do this, you have to know your position though.
). If you were short calls on Rimm yesterday for example you could have bought the stock back cheap after hours, you now have locked your position. Maybe someone else can explain this better. I don't think it occurs to most retail traders to do this, you have to know your position though. Seems I did wrong on a Calendar entry on one of them.
I believe it was the 68 Calendar. Instead of selling the March and buying the June, I did the opposite. I suppose they are still running? Being paper trading, I can just re-start the account balance.
Guess I´m not going to trade with real money next week in a calendar then? Will try again in the paper trading account for calendars. I was looking up my account trades. Got to nail it down first.
Guess I will have to rely on my one trade straight buying CALLS probably for the coming week in CASH. Going to jump to 10 contracts.
I´m interested in this neutral fly business. But not right now. I need to get myself comfortable and squared away with what I got.
I believe it was the 68 Calendar. Instead of selling the March and buying the June, I did the opposite. I suppose they are still running? Being paper trading, I can just re-start the account balance.
Guess I´m not going to trade with real money next week in a calendar then? Will try again in the paper trading account for calendars. I was looking up my account trades. Got to nail it down first.
Guess I will have to rely on my one trade straight buying CALLS probably for the coming week in CASH. Going to jump to 10 contracts.
I´m interested in this neutral fly business. But not right now. I need to get myself comfortable and squared away with what I got.
____________________________________________________
Its Friday the end of Q1 and the kids are off on Spring Break and want to go somewhere,
so I closed this trade early today at 2.25 (Buy 2 X +40%= 2.25).
(attached excel updated)
So far the 5 actual trades below the yellow line are holding up
hope for a really good new system.
I am out of here, have a good weekend everyone.
Jeff
Quote from kinggyppo:
Ok I am ashamed of myself for posting that. Here is something to think about for newer traders ( not you Falcon...
Hey kinggyppo,
That's equivalent to a short put. So my profits would've been capped either way.
Or am I missing something?
I am just saying that you can flatten out a position in the afterhours, most people don't do that. There is a discussion on another thread about whether or not you can "adjust " a position at all. I am talking about capping your risk on an option trade. For example if you are short deltas and you buy stock you can at least flatten your delta position. I think Atticus did this on a GOOG trade one time, maybe he can chime in here.
Quote from kinggyppo:
I am just saying that you can flatten out a position in the afterhours, most people don't do that. There is a discussion on another thread about whether or not you can "adjust " a position at all. I am talking about capping your risk on an option trade. For example if you are short deltas and you buy stock you can at least flatten your delta position. I think Atticus did this on a GOOG trade one time, maybe he can chime in here.
You can delta hedge anytime you want. If you were long a put, you could have hedged in the after hours and flattend your short delta then and done okay.
Practically speaking, would you have wanted to be short a naked call here? And then as the stock was selling off would you have wanted to buy stock knowing it could have gone to $11.