My option trades

Quote from ryanpatrick:

Just back from the holidays...
Still have $1794.55 from my account. Didn't quite reach my target of $4000, but now I have some experience in options and a full year. New target: $18,000 by end of year. If I can reach that modest gain, I will have learned a lot, either that or $0. Don't want anything in between.

I'm going to buy some APOL calls here. Beautiful chart and very quite too. Again, done my homework on APOL, now just testing to see if options are favorable.
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Suggest you give the balance to charity and save the effort.

It's more likely I play in the NBA for the Chicago Bulls than you hit 18,000 target by end-of-year starting with 1794.55!

Furthermore why did you pick 18,000? Why not 10,000 or 7500. Did you set monthly or weekly goals to reach that target?!

LOL
 
The world of option trading is full of illusions and one is better off not putting a dime of real money in option trading until they are ready. Until you have a documented trading plan in place, documented trading rules in place, understand sound money management, and have a few trading strategies that actually work completely memorized to split second accuracy you are not ready. Do not fool yourself into thinking you will get lucky because you will not. Options trading is very lucrative for those that work hard and prepare themselves. The other 90% just loose money to the 10% that actually win. There are no short cuts to successful options trading. Save your hard earned money until you are ready. Tks.
 
Quote from iceman1:

Suggest you give the balance to charity and save the effort.

It's more likely I play in the NBA for the Chicago Bulls than you hit 18,000 target by end-of-year starting with 1794.55!

Furthermore why did you pick 18,000? Why not 10,000 or 7500. Did you set monthly or weekly goals to reach that target?!

LOL
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Well, I'm off to a solid start.....Closing out APOL today and should be a solid profit if you call a 40% or so pop solid, maybe too modest in your account to bother with.

Still, I like the way FSLR just can't push over this hump and I'll close this trade today only if it trades above $42 and that 50-day hold is a broken play.

Again, I'm going with tight money management, no wild 80% of account into 1 trade anymore. I am going to jump into CREE today using those CREE jan 24 put. All research points to CREE at the very best stopping at $24, but the odds point to a breakdown back to $20.50, and that's my risk reward. About a $1.00 risk for a potential $3.50 gain. Nothing more and nothing less because these options will be gone by week's end.

And 10% always goes to charity at the end of the year. That's how it should always be played.
 
Couldn't possibly hold onto APOL longer so I am out at $3, profits of 229.10.

Jumped into CREE jan 24 puts at $1.39. Just can't get away from this trade. I tried all reasons as to why I shouldn't take this position. The chart, price action today, fundamentals, and even options action points to surprisingly weak sales (which might not be a surprise at all after so many negative reports). We'll see. I'm in 500+, It's a biggie and important trade for me so far this year.
 
Quote from ryanpatrick:

Did you grab any APOL calls too? Finally paying off for me. took a week longer than I anticipated.
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NO , I didn't. I trade SPY weeklys , but its getting boring , thinking about switching back to stock options.
 
Tickmagnet

Be interested to hear WHAT and HOW you trade the spy weeklies?

Since it is boring, I presume you are making money at it?

I´m diddling with the OEX again weeklies.
 
Jumped out of CREE at $1.50 open for +29.1. Bought 5 GS Jan 100 call at $1.40. GS clearly had solid report and I want to see $105 on that chart. Can't believe the CREE short crowd decided to leave now. Oh well, as long as they get me out too. We'll see how GS does by Friday.
 
huge loss in FSLR puts, guess that didn't work out as expected. -352.90.

Bought 5 GS jan 100 calls this morning at 1.40, and have $975 cash left to trade on this account.

So I decided to take 1 spread on FFIV Jan 110 call and FFIV Jan 120 call. The spread cost me $350 plus comm.

Looking to also grab UNP calls before the bell....I'll see what I can do with that one.
 
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