I know CRM's had a solid earning record with 3 of the past 4 swings being higher by an average of 10%, but with the market in this mood, it could carry into CRM. I'm not even going to play it this time around. My best bet would have been to follow the trend up as I have noticed some strong hold in FFIV and VMW concerning the cloud sector. Still, too hot for me right now. I'm holding and waiting for a better trade.
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My option trades
- Thread starter ryanpatrick
- Start date
I know CRM's had a solid earning record with 3 of the past 4 swings being higher by an average of 10%, but with the market in this mood, it could carry into CRM. I'm not even going to play it this time around. My best bet would have been to follow the trend up as I have noticed some strong hold in FFIV and VMW concerning the cloud sector. Still, too hot for me right now. I'm holding and waiting for a better trade.
Quote from falconview:
Ryan
Nice to have you back mon! Like reading your stuff. Can dream of being a millionaire one day that way.
thanks falcon, it's not easy, but one I finally reach that mark, you'll be the first to know. Going easy for these first few weeks, just glad to take in a nice gain in CHS earning trade and I'll wait and see if CMG can be my "weak market" hedge.
Quote from ryanpatrick:
I know CRM's had a solid earning record with 3 of the past 4 swings being higher by an average of 10%, but with the market in this mood, it could carry into CRM. I'm not even going to play it this time around. My best bet would have been to follow the trend up as I have noticed some strong hold in FFIV and VMW concerning the cloud sector. Still, too hot for me right now. I'm holding and waiting for a better trade.
Well, I put a small $110 bet on "black" earlier today with 2x150/155/160 weekly flies at $.55 each should CRM's earnings trend continue.
By the way, does 300/285 imply a put spread since the larger number is first?
Quote from scottandmo:
By the way, does 300/285 imply a put spread since the larger number is first?
Yes ... 300 is your primary position, short or long. And 285 is the secondary position to reduce the risk or cost depending on if it's a debt spread or credit spread. If it was written as 285/300 then it would be a call debt or credit spread.
285/300/315 Call Fly
315/300/285 Put Fly
Quote from cdcaveman:
do you know that the kid that started this thread was gone like a couple hundo pages ago!
He posted three hours ago - 1 page back.
http://www.elitetrader.com/vb/showthread.php?s=&postid=3606558#post3606558
Quote from diaoptions:
Yes ... 300 is your primary position, short or long. And 285 is the secondary position to reduce the risk or cost depending on if it's a debt spread or credit spread. If it was written as 285/300 then it would be a call debt or credit spread.
285/300/315 Call Fly
315/300/285 Put Fly
Yes, a simple long put spread buying 300 put selling 285 puts. Cost me $620 the other day, I put it in as a hedge in case the market decided to drop. It was a pick between PCLN and CMG because both charts are broken.
I think I feel my instincts coming back. I didn't go with the ADSK trade, but with that -20% drop, it could have came out to a nice profit. The market was to skittish today and watching both BIG and GES showing some -20% for slight misses.
Have a great weekend and back at it next week.
Quote from scottandmo:
Well, I put a small $110 bet on "black" earlier today with 2x150/155/160 weekly flies at $.55 each should CRM's earnings trend continue.
By the way, does 300/285 imply a put spread since the larger number is first?
That looked like a nice risk there at $55 each. The market just felt like it was going to punish anything that wasn't perfect.
CRM Q3 was set at $0.31-$0.32 against analyst est. of $0.34, and that was all that mattered to the market.
It didn't matter that revenue was stronger than estimates at all. Just that slight miss and -8points in AH. Still, I like your risk of nearly nothing with the potential for $900 in return.