My option trades

Quote from ryanpatrick:

LOL, never go into a trade with hope.....always go into the trade with confidence knowing the odds are on yourside.
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seems like all my trades this year are hope based - lol

i need NDX to sell off tomorrow and/or close at or below 2500 so my short weekly 2500c expire - just to be safe I took some feb16 2550c overnight - to hedge some deltas; plan on selling feb16 2500c or 2475c late thursday; also long feb weekly 2525c

also short ndx weekly 2450p & 2425p against 2400p/2375p

be nice to run the table but that doesn't seem as easy as 15 years ago.
 
Quote from iceman1:

just curious - did BIIB hit 118 AH and then rally to 121? never traded it
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I have no idea what BIIB did the yesterday, but its report was yesterday morning before market opened and it was trading closer to 115 at that time. Today, I have seen nothing but +120 after the initial swings. I held on waiting for it to break into new highs. I'd love to hold this one out until expiration and see just how far BIIB could go, but I've got way too many positions open.

When I started this option account I told myself that I have to be in and out of these earning trades and not hold over any of these too long. But here I am holding swk, biib, and syna longer than I anticipated. The account is showing $5400, but cash is actually only at $2500.
 
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Quote from iceman1: 02-01-12 12:46 PM

+AMZN July 190 @ 905
+ AMZN March 170p @505

gong to sell front 180c/170p

Quote from ryanpatrick
I'm trying to understand what you're trying to do, but I'm not seeing it. Sorry still at the simple level in option trading.
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simple is very often better

but with all the volatility last year i got in a habit of selling front month or even weekly premium (put or calls) against back month longs. So I buy July AMZN (and march) and then try to figure out what front month (feb) strikes to sell that might be a number under which (or above which) AMZN closes on expiry (feb 17th) - then repeat this for March selling strikes for either credit or make it a debit spread against the earlier purchased march puts and july long calls - OR just sell the July calls if AMZN move further or sell the March puts depending on the direction of AMZN post- feb expiration
 
Quote from ryanpatrick:

Today, I have seen nothing but +120 after the initial swings.I'd love to hold this one out until expiration and see just how far BIIB could go, but I've got way too many positions open.

When I started this option account I told myself that I have to be in and out of these earning trades and not hold over any of these too long. But here I am holding swk, biib, and syna longer than I anticipated. The account is showing $5400, but cash is actually only at $2500.
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just now BIIB hit 118 AH and is now 121.26

if a stock gaps higher post-earnings, and the overall market is bullish (as it has been) then typically the gap may not be an exhaustion move but rather a runaway gap and the stock might continue further in said direction perhaps forming a rising wedge (typically a reversal pattern) until it reverses, thus creating another opportunity to be short or buy puts post-expiration as the wedge forms and moves further into the 'apex'.
 
Unbelievable. I was trying to short the gmcr 60 calls at 2.80 or higher, but it just never got to that price so I left the 55 calls alone. Never thought GMCR would hit $65 to close out AH. That's the pay day I have been waiting for from AMZN. I'll take this one to the bank tomorrow.
 
dang, almost bought 5 cheap calls before the close but chickened out; time to become much more bullish with this market

Quote from iceman1:

you're first gut feel is always (usually) the best - just like taking tests (wish I would take my own advice!)
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I knew, I knew it. Out of GMCR with my net profit at $1,684.10. This was about 3 times my amzn loss. On my way up now, I'll look to lock in MA spread gains and TSCO isn't doing too bad too. QCOM can wait.
 
out tsco for loss -275.90, I'm up to $6930 after all this with a few open positions. If QCOM can give me just a few more bucks, I'd like to close out the week at $7000. Still have another $11000 to reach my $18000 goal.
 
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