My option trades

I read somewhere, that APPL alone was bigger than the entire USA retail sector. Wonder how true that is?

Got out of my PUTS this morning. Not much profit, thought at one point the volatility premium balloon went to $2.65. I ended up exiting at around $2.42. It was too quick and I thought of the thing maybe moving a little more. But it didn´t and thats that. Just a quick flash in the pan and I didn´t catch it.

Now I am long CALLS still of that left over trade. Which I´m trying to work my way out of, without a loss. Added two more contracts to it. I was trying to figure out the number of contracts I should have in a one sided CALLS at .40 Delta, to get to .50 Delta Something I´m not catching there, couldn´t figure it out? Can figure it out now in a straddle, or strangle, but not in one side.

Tried some paper trades. Did a calendar on XOM. Until the end of this week. Tried a couple of paper trades on PFE and CSCO in Long straddles. Those should run about 10 days. Curious to see what happens.
 
Quote from rockn:

Posting my trades:


Currently long aapl 625 May and Goog 630 calls. Also worthless Gld april 170 and Tna 70

rough week but holding
4/9/2012 Bought 3 GOOG May 19 2012 630.0 Call @ 25.58
4/9/2012 Bought 5 AAPL May 19 2012 625.0 Call @ 31.1
4/13/2012 Bought 2 AAPL May 19 2012 625.0 Call @ 29.35

worthless
2/17/2012 Bought 3 TNA Apr 21 2012 70.0 Call @ 3.9
3/2/2012 Bought 3 GLD Apr 21 2012 170.0 Call @ 2.82
3/5/2012 Bought 2 GLD Apr 21 2012 170.0 Call @ 2.45
More...

Aapl has been very good to you, but you have a big enough account to put $20k at risk in AAPL alone? What strategy/decisions are you using to make your pics?
 
Quote from newwurldmn:

Wow.

Not only are you lazy, "tell me all your trading secrets" but you are also ungrateful, "I don't want your help unless you post your equity balance"

Good luck with that.
More...

Ha, I've posted daily - yearly run screen-grabs on this board more times than I can recall and all you hear is "I want to see an audit". Even though they're time-stamped within minutes of posting.

I am convinced that some people are subconsciously trolling or simply don't have the brain-pan. Not thick, but simply can't absorb the abstraction.

I think Falcon has received a lot of good ideas on this thread. A little humility is in order.
 
Quote from rockn:

Posting my trades:


Currently long aapl 625 May and Goog 630 calls. Also worthless Gld april 170 and Tna 70

rough week but holding
4/9/2012 Bought 3 GOOG May 19 2012 630.0 Call @ 25.58
4/9/2012 Bought 5 AAPL May 19 2012 625.0 Call @ 31.1
4/13/2012 Bought 2 AAPL May 19 2012 625.0 Call @ 29.35

worthless
2/17/2012 Bought 3 TNA Apr 21 2012 70.0 Call @ 3.9
3/2/2012 Bought 3 GLD Apr 21 2012 170.0 Call @ 2.82
3/5/2012 Bought 2 GLD Apr 21 2012 170.0 Call @ 2.45
More...


rockn,

"Those are frightening prices on GOOG and AAPL!"

I can remember in the 1990's paying $1,600 for EBAY options and at the time I thought that I was out of my mind!
I also remember closing them out at $550 and being happy to get that.
Since the 1990's, I now think small. SPY options bought between 1.25 to 2.50 and sold +25% to +57% higher (depending on signal type),
or stopped out at -20% to -40% under Buy 1.

"My hat is off to you being able to deal with those kind of prices and the best of success."


Jeff
 
Quote from scottandmo:

Aapl has been very good to you, but you have a big enough account to put $20k at risk in AAPL alone? What strategy/decisions are you using to make your pics?
More...

The surest way to make a million dollars in trading is to start with 10 million...
 
Quote from atticus:

Ha, I've posted daily - yearly run screen-grabs on this board more times than I can recall and all you hear is "I want to see an audit". Even though they're time-stamped within minutes of posting.

I am convinced that some people are subconsciously trolling or simply don't have the brain-pan. Not thick, but simply can't absorb the abstraction.

I think Falcon has received a lot of good ideas on this thread. A little humility is in order.
More...

He has bad habits and is undercapitalized, the op was ripping on me initially but he didn't understand I had been trying to help him on another thread for months too no avail. I keep telling him to simplify, I think on some level he believes there is a "strategy" that is the holy grail. Remember HoCo? kept trying to tell him his position would get him into trouble when vol woke up. Falcon the market has humbled us all over the years so no one is doing anything here but trying to save you from bad habits. Peace.
 
I was feeling bilious in the middle of the night. Sorry for my outburst if it offended some.

Basically I thought I would scream, when I get one more guy saying I need to trade 1% of my equity. I did that after commissions I might make 8 cents or something in total on the trade, on a small retail account.

Lot of guys are trading with $2000, $5000 and less than $10,000 accounts. It is my belief you cannot really make a small trade under $250.

I do have a personal pet opinion on stop/losses. I think they are a way for the middle man in this casino, to scoop up your dollars. I´m much more in favor of some of you money makers, who talk about how they morph their trades into something else, or do adjustments. That makes more sense to me than using stop losses.

Another of my pet peeves is MARKET ORDERS. That seems like giving a guy the gun to rob you. Limit orders only, more or less. Just a novice opinion.

My opinion on money management for a small retail trader, like me, is that the rule I came up with from some months back is working out fine. If you take a loss, drop to one contract. Soon as you get two wins in a row, start adding contracts. That money managment rule, at least for me is keeping me in the game.

Didn´t mean to offend anyone, but as a loser and small trader, learning as I go, it becomes obvious over time, some of the rules touted by well meaning people for institutional fund gamblers, are not transferable to the small beginner novice retail trader.

I´ve lost enough times now, to have an opinion. Anyway, no hard feelings, just my own helpful opinions for people in the same beginners situation I am.
 
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