May, 2012
He was doing good until he tried to call the top on AAPL, which wasn't part of his trading style of earnings related trades. His downfall started here, March 2012:
http://www.elitetrader.com/vb/showthread.php?s=&postid=3471310#post3471310
My option trades
- Thread starter ryanpatrick
- Start date
May, 2012
He was doing good until he tried to call the top on AAPL, which wasn't part of his trading style of earnings related trades. His downfall started here, March 2012:
http://www.elitetrader.com/vb/showthread.php?s=&postid=3471310#post3471310
umm yeah considering the guys account started at 4 grand... i quote him.. "way to high" wheres my update buddy? as much as i feel bad for people its hard .. because everyone in this forum commented... on the day he posted that trade... there was like 5 dollars of intrinsic value and 5 days of trading left till expiration.. by expiration aapl was at 585.. and the quick run up probably put him close to worthless on tuesday of that next week.. i imagine his 9 dollar put went to 2 dollars by latest wednes of that next week.. hard to recovery from that.. he might have just sat on his hands and gave up.. or just sold what was left or lost it all in a vain hope that things would dive down at the last second
by the way.. if he woould have boughten a straddle.. it would have been worth 40 dollars at opex.. putting him triplin to quadupling his money..
i don't think that one appl trade did him in...he had already made a good chunk of change by then..it must have been personal reasons..i remember him writing something about personal issues..i'm too lazy to go back and search for it though...
I kind of recall that too. Maybe had to use a big chunk of his money to go visit a sick relative...that sticks in my mind anyway. And I think he did have some high risk trades that went south. I think he started out good and that gave him undeserved confidence in his ability to trade.
I will give him credit for one thing. Unlike diaoptions, when a trade didn't work out he admitted it.
I will give him credit for one thing. Unlike diaoptions, when a trade didn't work out he admitted it.
It was the revenge AAPL trading after the first AAPL trade that did him in. He was switching between AAPL put and calls within a two week period trying to recoup his loss.
He started with a basket of stocks to trade around earnings then focused only on AAPL towards the end.
Sold puts on $10 ARO for October.
Credit $0.25
Annualized % return..... 15%
Company currently going through some inventory related issues. Which can be serious for a retailer. However, the stock price has already had a sig drop on that issue.
And the company is financially healthy, so it should be able to ride out the problem as it adjusts it's strategy going foward.
This is the 2nd retail related trade I shared recently, with $17 TRLG with a credit of $0.55, also for October, being the other one.
Credit $0.25
Annualized % return..... 15%
Company currently going through some inventory related issues. Which can be serious for a retailer. However, the stock price has already had a sig drop on that issue.
And the company is financially healthy, so it should be able to ride out the problem as it adjusts it's strategy going foward.
This is the 2nd retail related trade I shared recently, with $17 TRLG with a credit of $0.55, also for October, being the other one.
Just accidentally run into this query from Put Master
I'm trying to remember when I started with cash. Think it was beginning of the year. So, I'm down 30%. For the last two months I've moved into TOS paper money until I can get something working again. My account is down from $10,000 to $7000 less a few dollars. Lowest it has ever been.
I'm not sure I've learned anything useful. Certainly widened my horizons and tried stocks, and earnings reports, debit spreads, straight bets, calendars, condors, etc.
I,m currently waiting for my old one or two trades a month system. Pattern Trading. Switching from straight bets to debit spreads. Going to see if I can TIME just IWM. Skipping the stocks. Not reliable enough. Indexes better I think. Been running some scenarios on it.
Most of my correspondence is on TRADING LONG STRADDLES. My own forum. Most of the time, I seem to be talking to myself, which is okay. I've really got nothing worthwhile to contribute at the moment. Living from week to week.
I'm trying to remember when I started with cash. Think it was beginning of the year. So, I'm down 30%. For the last two months I've moved into TOS paper money until I can get something working again. My account is down from $10,000 to $7000 less a few dollars. Lowest it has ever been.
I'm not sure I've learned anything useful. Certainly widened my horizons and tried stocks, and earnings reports, debit spreads, straight bets, calendars, condors, etc.
I,m currently waiting for my old one or two trades a month system. Pattern Trading. Switching from straight bets to debit spreads. Going to see if I can TIME just IWM. Skipping the stocks. Not reliable enough. Indexes better I think. Been running some scenarios on it.
Most of my correspondence is on TRADING LONG STRADDLES. My own forum. Most of the time, I seem to be talking to myself, which is okay. I've really got nothing worthwhile to contribute at the moment. Living from week to week.
I'm moving this thread to a new one called MY OPTION THREAD.... part 2.
This thread is full of very old, outdated and useless trades.
I suggest you move the discussion to the new thread.
If you are down 30% for the year, sounds like you need to adjust your trading strategy, and/or criteria for initiating trades.
Continue the discussion on the new MY OPTION TRADE..... part 2 thread.
This thread is full of very old, outdated and useless trades.
I suggest you move the discussion to the new thread.
If you are down 30% for the year, sounds like you need to adjust your trading strategy, and/or criteria for initiating trades.
Continue the discussion on the new MY OPTION TRADE..... part 2 thread.