Staring Falconview as Peter Griffin
and Various ET members as the Commanding Officer
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My option trades
- Thread starter ryanpatrick
- Start date
Staring Falconview as Peter Griffin
and Various ET members as the Commanding Officer
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New system trade:
Bought April 140 calls at 1.25 (filled)
Sell Limit: 1.75 (+40%)
Stop: 1.00
One Buy Trade Only, which means I am all in with a full position.
Reward to Risk: 2/1
+.50 / -.25
Bought April 140 calls at 1.25 (filled)
Sell Limit: 1.75 (+40%)
Stop: 1.00
One Buy Trade Only, which means I am all in with a full position.
Reward to Risk: 2/1
+.50 / -.25
Not sure how you figure that reward to risk ratio Jeff?
I´m still sitting on my 3 PUTs, but it is very close to being closed for a loss.
In the meantime, I entered a calendar.
1 Calendar QQQ 67 April 2/ April 1 Call @.41 cents.
Wanted to see if I have it entered right? Can´t really figure it out, looking at it. But checking the accounts it seems to be the way I want it? Selling the April 1 and buying the April 2 weeklies.
Guess I will find out when I close it?
I´m still sitting on my 3 PUTs, but it is very close to being closed for a loss.
In the meantime, I entered a calendar.
1 Calendar QQQ 67 April 2/ April 1 Call @.41 cents.
Wanted to see if I have it entered right? Can´t really figure it out, looking at it. But checking the accounts it seems to be the way I want it? Selling the April 1 and buying the April 2 weeklies.
Guess I will find out when I close it?
That trade your referring to with the SPY April 141 calls got stopped out at 1.11,
which was -40% under Buy No. 1 (bought at 1.85).
You have draw a line in the sand somewhere and my maximum
beat-down I will take is a -40% drop below Buy No. 1.
However I am in another call trade today:
SPY April 140 calls bought at 1.25,
Sell Limit: 1.75 (+40%)
Stop: 1.00 (-20%)
This trade does not have a Buy No. 2.
Note: this is per falcon's last question to me:
Reward to Risk: 2 to 1
either make +.50 profit or lose -.25
50 divide 25 = 2 2.0 to 1.0
Jeff
I like the idea of betting a two to one the way you do it. Not sure how that would work in the QQQ?
I took my loss in the PUTS. I did have a bit of a profit once, but it was not enough to take and I let it ride for a while. So my loss turned out to be -$108 with commissions.
I have an early CALL signal, but nothing I am going to take at this time. The market is in a sideways messing about range. In the QQQ I don´t get enough moves to make it pay. Was just recalculating my commission and costs. Turns out to be 8.20 cents per contract. I wonder how they figure that out? I used to calculate $6 round turn, but it has been getting more expensive and just recalculated and this last 3 contracts I took a loss on was eight and a quarter cents per contract round turn in TOS.
Now we wait and see what happens with my first CALENDAR in cash.
I like the idea of betting a two to one the way you do it. Not sure how that would work in the QQQ?
I took my loss in the PUTS. I did have a bit of a profit once, but it was not enough to take and I let it ride for a while. So my loss turned out to be -$108 with commissions.
I have an early CALL signal, but nothing I am going to take at this time. The market is in a sideways messing about range. In the QQQ I don´t get enough moves to make it pay. Was just recalculating my commission and costs. Turns out to be 8.20 cents per contract. I wonder how they figure that out? I used to calculate $6 round turn, but it has been getting more expensive and just recalculated and this last 3 contracts I took a loss on was eight and a quarter cents per contract round turn in TOS.
Now we wait and see what happens with my first CALENDAR in cash.
I kinda wondered if the NY Exchange took a holiday on a religion for tomorrow. Just checked. Tomorrow is a holiday and NY will be closed.
I´m surprised? Wonder how many religions are recognized for holidays?
I´m surprised? Wonder how many religions are recognized for holidays?
Falcon,
1: It probably wasn't a good idea of having a 2/1 reward to risk today, this being the last trading day of the week before a 3 day holiday weekend (which I overlooked in my planning the trade).
Had I used my Standard +30% profit goal on the SPY April 140 calls bought at 1.25, they would have already sold at 1.63, +30%
(the high has been 1.66).
These calls have now dropped in the 1.40's and if they see 1.60
or greater again today, "I'm outta there."
2: I really don't know if this would work on the QQQ's.
If you can send me a minimum of 6 months worth of QQQ data
with the Open=??? High=??? Low=??? Close=???
on both a call and a put you have been trading, tracking, or testing for the last 6 months (need that data every trade day for the last 6 months), I can run it through my trading program and let you know if it would work.
I could also let you know what parameters are best for trading the QQQ, best average entry price, best average sell limit, best average stop, best average hold time.
3: Lastly, your commissions are ridiculous!
Two words: "Interactive Brokers," .70 commission per contract if you buy 2 or more. $1.00 if your buying only 1 contract.
I have used them for over a decade and wouldn't consider anyone else.
Jeff
Well the QQQ index is online. So you can get the index numbers from a chart.
As to money changing prices, I wouldn´t have that.
The amount of premium change depends on the VIX number. With a bull trend that number is usually low.
There hasnt been enough volatility to get the moves.
I hope my CALENDAR works out today. Could start trading that instead, as Don Bright and Atticus talk about. Selling being best in low doldrum situations.
This being the last day, I´m not at all sure how to close this CALENDAR. Do I have to actually close the trade as a CALENDAR, or does the expiry one, this week, get cash settled? And I remain with the next bought one left over? Questions for which I have no answer yet.
I believe right now my CALENDAR would close and cover commissions, if I have entered it right? Probably close it to get some answers.
As to money changing prices, I wouldn´t have that.
The amount of premium change depends on the VIX number. With a bull trend that number is usually low.
There hasnt been enough volatility to get the moves.
I hope my CALENDAR works out today. Could start trading that instead, as Don Bright and Atticus talk about. Selling being best in low doldrum situations.
This being the last day, I´m not at all sure how to close this CALENDAR. Do I have to actually close the trade as a CALENDAR, or does the expiry one, this week, get cash settled? And I remain with the next bought one left over? Questions for which I have no answer yet.
I believe right now my CALENDAR would close and cover commissions, if I have entered it right? Probably close it to get some answers.
Falcon,
You are saying the VIX low and market in doldrum situation:
Here is the QQQ April 67 calls (exp: 4/20/2012) so far today:
Open = 0.97 High= 1.30 (+34%)
That's > +30% profit with the QQQ up only .65%!
That's a decent gain.