That is true. Having more than one ET alias is common.
My Options Play
- Thread starter Multioption
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That is true. Having more than one ET alias is common.
Options allow me the flexibility of adjustment; I guess you are half-blind!Quote from uninvited_guest:
But you bought $12,000 worth Calls based on your TA, now your TA suggests a drop, all in less than a week.
Do you still own those calls? If so why? I thought your stop was once the calls reached OTM.
Very confusing and reckless.
You are not the only critic on this forum, however, other critics are not obloquy like you!
how do you know he "bought" them?
most likely he CLOSED an open short positions on said options - by buying to 'close'!
:eek:
he was the smart money - he sold calls- those of us (like me on VLO) who went long oil stocks into Nov expiry so far are the suckers
Of course on my options thread I did Dec premium and sold a lower strike Dec (ratioed long) - in hindsight the better play was to go long calls for Dec -- and bear spread them with front month calls -and make said spreads ten wide. :eek:
I have now --closed--- my short VLO Dec 110c for +1.90 profit per-- and will re-sell them after (IF ) VLO trades significantly higher this month.-- OR-- maybe I can capture some premium for Nov 105s and will sell those IF VLO trades higher. Right now it's looking like a proverbial "dog with fleas" unless you were astute enough to short it and/or buy puts!.
Want to say one more thing- it would not surpprise me at all to see VLO at >100 tomorrow or Monday ! Those who do not have long positions in VLO or APA - now would not be a bad time to consider one- for sure! Often as expiry nears these stocks will swing in a wide ranges depending on how much open interest is still unresolved.
As for me I will not average in or add to my long calls typically so for now I will just hold my position in VLO.
I will possibly institutre a new position in APA, however.
I wonder!
You are one sad soul!
Wandering Newbie
Quote from iceman1:
how do you know he "bought" them?
most likely he CLOSED an open short positions on said options - by buying to 'close'!
:eek:
he was the smart money - he sold calls- those of us (like me on VLO) who went long oil stocks into Nov expiry so far are the suckers
- in hindsight the better play was to go long calls for Dec -- and bear spread them with front month calls -and make said spreads ten wide. :eek:
I have now --closed--- my short VLO Dec 110c for +1.90 profit per-- and will re-sell them after (IF ) VLO trades significantly higher this month.-- OR-- maybe I can capture some premium for Nov 105s and will sel thsoe IF VLO trades higher. Right now it's looking like a preverbial "dog with fleas" unless you were astute enough to short it and/or buy puts!.
Want to say one more thing- it would not surpprise me at all to see VLO at >100 tomorrow or Monday ! Those who do not have long positions in VLO or APA - now would not be a bad time to consider one- for sure!
As for me I will not average in or add to my long calls typically so for now I will just hold my position in VLO.
I will possibly institutre a new position in APA, however.
Whether he was opening a long position or closing a short position he still "bought" them. Just as someone sold them. However, it looked like someone hit a MM's ask. I agree, it does seem likely that someone was closing a position, however.
Thanks,
- The New Guy
EDIT: congrats, nice trade!
Quote from Multioption:
No! I was kidding! I used to say that some years ago; and that's when a trade is adjusted. It means: the trade is a bummer - waste of time!
But what if APA fails to trade back to 65? As you can see, traders can't do away with IFs
I see. Perhaps.
You sold the APA 60 CALLS, not bought. When you put on positions what type of trading environment do you like? For me, for example, if i want to get short something i make sure to have a decent entry so that my stop gets wider as the position moves in my favor. A bad entry can ruin a position for me. I don't mean to be critical in a personal sense but i am an equities trader trying to learn the intracacies of options trading. Thanks for your words and patience. So anyway, i like price extremes followed by price reversals with heavy volume and broad venue participation. I watch prices and volume and time; then i match this against some technical studies such as regression lines and price channels. Going on my eighth year of equity trading i have developed price and volume patterns that serve as a back drop to all of my trades. My hardest lesson was sticking to strict guidelines of position sizing and switching sides on an instrument in seconds. Now, i make decisions fast and have grown my market intuition commensurate to the education and tools i utilize. More than i wanted to share but what the.... Good Luck, i'm watching...
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