My option trades

[kinggyppo]

Quote from babutime:

It's that time of the year again dawgs! The PCLN train is RIGHT HURR!!! So all my trading niggas, what you gon' do?

I'm thinkin of risking about $1600 here on a 725/785/845 weekly fly...

No trades yet.

http://www.youtube.com/watch?v=33jyoyJNa2c

 

[atticus]

Quote from qqqoptions:

One leg should be ITM. Go with the 665/725/785.

How many weekly flies did you have?

 

[qqqoptions]

Quote from atticus:

How many weekly flies did you have?

Zero, I don't trade flies. The 665/725/785 example was to show babulane how flies are structured based on his OTM 725/785/845 fly.

• 1 long ITM
• 2 short ATM (or close to it)
• 1 long OTM

 

[babutime]

Quote from qqqoptions:

Zero, I don't trade flies. The 665/725/785 example was to show babulane how flies are structured based on his OTM 725/785/845 fly.

• 1 long ITM
• 2 short ATM (or close to it)
• 1 long OTM

Dude, I know my flies... and the one I posted would have been a loser, yes, but I was simply betting. Atticus' comment made me rethink...

anyways,

damn you straddle sellers... nice profit here for you guys

 

[qqqoptions]

Quote from babutime:
Dude, I know my flies

No you don't. You made the same mistake a few days ago, and I corrected you on that one.

http://www.elitetrader.com/vb/showthread.php?s=&postid=3520113#post3520113

 

[atticus]

Quote from qqqoptions:

Zero, I don't trade flies. The 665/725/785 example was to show babulane how flies are structured based on his OTM 725/785/845 fly.

• 1 long ITM
• 2 short ATM (or close to it)
• 1 long OTM

Unfortunately for your reco, there were no 665 for May11.

 

[atticus]

Quote from babutime:

Dude, I know my flies... and the one I posted would have been a loser, yes, but I was simply betting. Atticus' comment made me rethink...

anyways,

damn you straddle sellers... nice profit here for you guys

Nothing wrong with the current trade if we open >700.

The Jan2013 750 straddle went out at 190 bid. I lost track of time and missed that short that was recommended by a buddy.

 

[qqqoptions]

Quote from atticus:

Unfortunately for your reco, there were no 665 for May11.

I didn't say there was. Two easy solutions - go with May19 or pick different May11 strikes.

 

[atticus]

Quote from qqqoptions:

I didn't say there was. Two easy solutions - go with May19 or pick different May11 strikes.

Yeah, you did. Babu chose a weekly fly and you recommended the 665 call strike, which didn't exist.

 

[babutime]

Quote from qqqoptions:

No you don't. You made the same mistake a few days ago, and I corrected you on that one.

http://www.elitetrader.com/vb/showthread.php?s=&postid=3520113#post3520113

that's a not a mistake. I was betting on a one time event. I was gonna do that too this time but atticus' post made me rethink. That's all.

I like gambling a bit more during earnings. I don't think I need to be judged by someone who was so ashamed of his previous debacle on ET that he had to come back with a different handle.

I've never been ashamed of posting my losses... fortunately though, tomorrow might be a good day for me. I don't post ALL my trades here. For example, I have some CSCO 16/17/18 put flies because I was betting CSCO would fall after earnings and guess what Fred Flintstone, it did. Now I'm not gonna claim, like you have done in the past under ForexForex, that I was right on direction.

I was simply right to take a cheap bet that paid off...

Quote from atticus:

Nothing wrong with the current trade if we open >700.

The Jan2013 750 straddle went out at 190 bid. I lost track of time and missed that short that was recommended by a buddy.

Yeah, even above 690 should be fine. May 18 IV probably won't drop 60 IV