My option trades

IVtrader · Dec 1, 2011

Quote from trader198:

his account size is good enough. just he does not have the winning attitude. I do not think he can roll.

each day, lost two digits, after a couple month, we will never see him.

option's leverage is far more than 10 folds. that means his account size is more than 30k. around 35k~45k!

I would suggest him to go with propertary trading firm. deposit it there. or waste it there

a winning attitude is less important than actual trading competence- you can have a winning attitude but if you have no real trading skills it wont help you

daveyc · Dec 1, 2011

Quote from ryanpatrick:

Well, took a big loss on TIF calls, -$966.03 was the actual loss for that trade. But DLTR and NUAN are up the past 2 days and I'm still above $2000. I take that $600 loss as a learning curve. I'm still looking into the retail trades. So I sold 1 of the DLTR call to give me enough cash to take on 2 ULTA dec 70 calls. My net realized loss is $1,061.57, still have high hopes for that $4,000 target by end of year.

And thanks for the advice guys.....I've put everything into paper so that I can review it all for the new year.

try to consider paper trading before you lose all of your account even if it is just gambling money. this is painful to watch and difficult to read your trades.

iceman1 · Dec 1, 2011

Quote from ryanpatrick:

Well, took a big loss on TIF calls, -$966.03 was the actual loss for that trade. But DLTR and NUAN are up the past 2 days and I'm still above $2000. I take that $600 loss as a learning curve. I'm still looking into the retail trades. So I sold 1 of the DLTR call to give me enough cash to take on 2 ULTA dec 70 calls. My net realized loss is $1,061.57, still have high hopes for that $4,000 target by end of year.

And thanks for the advice guys.....I've put everything into paper so that I can review it all for the new year.

can you tell me in 2 sentences or less why you bought calls on TIF at that time and that strike?

is this real money?

you would have been better of buying (1) AMZN 190c or 195c earlier this week

newwurldmn · Dec 1, 2011

Quote from IVtrader:

a winning attitude is less important than actual trading competence- you can have a winning attitude but if you have no real trading skills it wont help you

This is really funny.

76132 · Dec 1, 2011

Quote from ryanpatrick:

After all, this is at best a 50 win/50 loss game,

If your odds are 50/50 and you have the money, you should just double up until you win big.

fumduck · Dec 4, 2011

Quote from ryanpatrick:

. My net realized loss is $1,061.57, still have high hopes for that $4,000 target by end of year.

And thanks for the advice guys.....I've put everything into paper so that I can review it all for the new year.

Hopes, High or straight won't help with your target.

You need to educate and paper trade until you're Charlie Sheen

ryanpatrick · Dec 12, 2011

Well, sold out of ULTA and everything else except for NUAN calls. Just added BBY Dec 28 put at $1.27, account is showing $2,097.85. My loss is only ($652.15) although I was considering my account to be in the $3000 by now. I still have 3 weeks left, so I'll see if I can hit that mark of $4000.

IVtrader · Dec 12, 2011

Quote from ryanpatrick:

Well, sold out of ULTA and everything else except for NUAN calls. Just added BBY Dec 28 put at $1.27, account is showing $2,097.85. My loss is only ($652.15) although I was considering my account to be in the $3000 by now. I still have 3 weeks left, so I'll see if I can hit that mark of $4000.

if you paid 1.27 for Dec 28 put (with a B /A of 1.10/1.14 EOD)_ the day before an earnings release, then you way overpaid on IV spiking the day before the release. and those options expire in 4 days. if you by chance sold them, then you better hope for your sake that BBY has some really good earnings tomorrow and that it really MOVES UP. you also are facing minimum $.13 in theta decay a day

good luck

ryanpatrick · Dec 13, 2011

Quote from IVtrader:

if you paid 1.27 for Dec 28 put (with a B /A of 1.10/1.14 EOD)_ the day before an earnings release, then you way overpaid on IV spiking the day before the release. and those options expire in 4 days. if you by chance sold them, then you better hope for your sake that BBY has some really good earnings tomorrow and that it really MOVES UP. you also are facing minimum $.13 in theta decay a day

good luck

You mean I'm hoping BBY moves down right? I'm about to sell it right now as I type....the options are showing a gain of $1100. Wow, one freaking trade and I'm at $3500. Unbelievable, just what I thought after reading through so many option books and reading so many folks' option strategies and trades in here. I'm feeling it now. $500 left and I've reached that $4000 mark.

ryanpatrick · Dec 13, 2011

I was just reviewing and so far I closed out 6 option trades already for a net gain of $601.73, all thanks to the $1,145.78 gain from the BBY trade I just made. It seems I'm getting paid while I gain experience from option trading. I still have the open NUAN trade, and with that unrealized gain, my account is showing $3,516.72.