OEX weekly options

[falconview]

Trading Journal

I don't know what kind of trades you are doing, that the flutter, or noise in market action would make you pee your pants ( grin!) I base my trading on the daily bars. While I do use shorter time frames for entering and exiting, it is the longer time frame that I use for the trade itself. As you say though, you are using REAL MONEY.

 

[falconview]

Trading Journal

Bit early in the day to be making predictions. But I am looking at FRIDAY as being a TOP signal and trend change. All things staying more or less the same.

 

[Stanford]

TJ asked
"5. Stanford: My prediction for NDX: sellers expected to appear before 2013. Using a 1.5% band (which is roughly a daily range), sellers would start appearing between 1982 and 2013 on this bull leg.
Falconview: what are your models saying? Yesterday the market had trouble moving up in the band forecast yesterday. Yesterday's top was right at the middle of the band mentioned above.

Stanford: If such forecast is correct, how could it help you?"
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TJ, if that forecast is correct, then my monthlies at 2100 can breathe easily and I can go out and play.

Michael

 

[falconview]

Stanford

If you are at NDX 2100 that equates to the 525 in the OEX. I'm watching it also as I want to put on an overhead BEAR CALL CREDIT SPREAD late this afternoon, or tomorrow morning. I really wanted the 530 strike, but can't get any premiums there. In fact right now there are no premiums for me in the OEX at the 525 and the 520 is too close. The OEX being 512 or something right now.
I'm looking for a move up in the afternoon, or certainly tomorrow morning, but I'm not sure if the trend will make a new TOP? Or just stay even. It does look like Thursday will end the trend and Friday will be the confirmation of that changeover. Expecting the market to drop on Monday somewhat.

I think I will just check the NDX and see if I can get further out for premium over there? I really want the 530, or NDX 2120

 

[falconview]

Stanford

Heck! Can't even get a 2080 on the NDX weeklies, which is 520 in the OEX.

Wait and see how the day plays out I guess?

 

[Stanford]

falconview, How would you feel about 1.35 credit for 2100/2125 in the monthlies?

Michael

 

[falconview]

Stanford

That is very good, but you have to wait 3 weeks for the results. Not me mon! I want instant gratification. ( grin! )

 

[falconview]

Stanford

That is very good, but you have to wait 3 weeks for the results. Not me mon! I want instant gratification. ( grin! )

 

[tradingjournals]

Quote from falconview:

I currently think that the bears have ordered today some rib and sirloin steak from the bulls. You are paper trading so it does not matter.

-Ha! Ha! Ha! Touche!-

.

Surprised you did not ask if they like it rare or well done? The answer is .... "saignant" (as in french word). They never cook, b/c raw is more efficient 'n tastier in wall street.

 

[tradingjournals]

Stanford:

Something that may make your eyes open wider, and hopefully not bring forth bad memories. The keyword is: arbitrage (based on options). Did you look into this direction?