Kinggyppo
I´m long in cash CALLS. 5 contracts. NEVER got another dip to add more calls after the first delta adjustment. About a $1000 bucks worth. Left over from the previous week, in which I´m trying to find a way to adjust my way out of what turned into a STRANGLE. Got rid of the PUTS side okay. Was never able to use the Delta neutral thingy, to figure out how many more contracts I needed to add, so just skipped that part. I think my breakeven is around $1.87 in June Calls. Which is better than the $2.33 initiation amount a week ago.
I got tired of taking losses. So held. The original calls, were okay, but never made enough as a direct buy, to cover bid-ask and commission, so I held them. Then market reversed and I went Long PUTS. This did the same thing on me. Started out earning money, but not enough to cover the bid ask, and commissions. Ended up therefore with a long STRANGLE, wide apart and the market has been gyrating in between the two. So adjusting, by trying my really first attempt at a delta neutral gamma scalp. It has so far, cleared my outstanding PUTS, but depends on what the market does. If it goes up I might breakeven? The thing is in the past, I would have simply ended up taking TWO lost trades. So my small capital such as it is, in cash trading is tied up with this trade. At the moment I am long 5 CALL CONTRACTS with breakeven at $1.87. I´m mentally prepared to add more CALLS if I get a lower price, even if I cannot figure how many contracts I need from this remaining one side Delta system. I´m within my cash parameters, but it is awfully close to ending the game.
Since I´m learning all this new stuff. All the rest of it, I´m doing on paper. Got sheets of paper all over my desk. Can´t find anything when I want it.
I´m long in cash CALLS. 5 contracts. NEVER got another dip to add more calls after the first delta adjustment. About a $1000 bucks worth. Left over from the previous week, in which I´m trying to find a way to adjust my way out of what turned into a STRANGLE. Got rid of the PUTS side okay. Was never able to use the Delta neutral thingy, to figure out how many more contracts I needed to add, so just skipped that part. I think my breakeven is around $1.87 in June Calls. Which is better than the $2.33 initiation amount a week ago.
I got tired of taking losses. So held. The original calls, were okay, but never made enough as a direct buy, to cover bid-ask and commission, so I held them. Then market reversed and I went Long PUTS. This did the same thing on me. Started out earning money, but not enough to cover the bid ask, and commissions. Ended up therefore with a long STRANGLE, wide apart and the market has been gyrating in between the two. So adjusting, by trying my really first attempt at a delta neutral gamma scalp. It has so far, cleared my outstanding PUTS, but depends on what the market does. If it goes up I might breakeven? The thing is in the past, I would have simply ended up taking TWO lost trades. So my small capital such as it is, in cash trading is tied up with this trade. At the moment I am long 5 CALL CONTRACTS with breakeven at $1.87. I´m mentally prepared to add more CALLS if I get a lower price, even if I cannot figure how many contracts I need from this remaining one side Delta system. I´m within my cash parameters, but it is awfully close to ending the game.
Since I´m learning all this new stuff. All the rest of it, I´m doing on paper. Got sheets of paper all over my desk. Can´t find anything when I want it.