On April 20, 2011 history was made on EliteTrader
- Thread starter ForexForex
- Start date
Who cares? We all get lucky and/or have runaway winners at times:
27 March 2007
Order Number: 36292176
Symbol : .UKODA
Description : DNDN APR 5 Call
Stock : DNDN at 4.73
Action : BOT TO OPEN
Quantity : 10 contract(s)
Price : $1.05
Commission : $15.00
Reg Fees : $0.00
Net Amt : $1,065.00
30 March 2007
Order Number: 36412700
Symbol : .UKODA
Description : DNDN APR 5 Call
Stock : DNDN at 14.96
Action : SLD TO CLOSE
Quantity : 10 contract(s)
Price : $11.80
Commission : $15.00
Reg Fees : $0.19
Net Amt : $11,784.81
Total crapshoot trade and it paid off well during that "Mother of All Short Squeezes" -- yes, it was my 'best' options trade thus far, but it's all part of the process. No need to gloat about it.[1]
[1] Yes, I realise posting a trade report can be viewed as 'gloating' but it proves my point. We win some, we lose some. Would that we post our 100% (or gods forbid >100%) losses with such enthusiasm as well, right?
27 March 2007
Order Number: 36292176
Symbol : .UKODA
Description : DNDN APR 5 Call
Stock : DNDN at 4.73
Action : BOT TO OPEN
Quantity : 10 contract(s)
Price : $1.05
Commission : $15.00
Reg Fees : $0.00
Net Amt : $1,065.00
30 March 2007
Order Number: 36412700
Symbol : .UKODA
Description : DNDN APR 5 Call
Stock : DNDN at 14.96
Action : SLD TO CLOSE
Quantity : 10 contract(s)
Price : $11.80
Commission : $15.00
Reg Fees : $0.19
Net Amt : $11,784.81
Total crapshoot trade and it paid off well during that "Mother of All Short Squeezes" -- yes, it was my 'best' options trade thus far, but it's all part of the process. No need to gloat about it.[1]
[1] Yes, I realise posting a trade report can be viewed as 'gloating' but it proves my point. We win some, we lose some. Would that we post our 100% (or gods forbid >100%) losses with such enthusiasm as well, right?
$100 ? About the same amount of commission that I paid my broker this morningQuote from brownsfan019:
Yeah, I have to agree.
Next time add a few zero's to the position and then we may be interested.
Quote from ForexForex:
On April 20, 2011 history was made on EliteTrader in the Options forum. The largest percentage gain trade posted live on EliteTrader, a staggering 770% 2-day trade. Never before has such a trade been posted on ET, this includes all trading products such as stocks, futures, options, fx, etc. This was an Elite Trade.
04-18-11 03:45 PM
Bought 10 contracts QQQ Apr 2011 57.00 calls @ $0.10
http://www.elitetrader.com/vb/showthread.php?s=&postid=3157446#post3157446
04-20-11 03:46 PM
Sold at $0.87
http://www.elitetrader.com/vb/showthread.php?s=&postid=3159927#post3159927
P/L: $0.10 to $0.87 = $100.00 to $870.00 = + $770.00 / 770%
Minus about $20.00 commissions.
It will be interesting to see when - or if - this trade is surpassed.
NOTE: If an EliteTrader member entered the same trade one day after my postings the percentage gain would have been about 2000% - The QQQ Apr 2011 57.00 calls dropped to $0.06 on 04-19-11 and traded in the $1.36 range on 04-21-11, which was the last day of trading for the options.
Registered: Jun 2009
Forex,
How about you post your google trade while you are at it.
How about you post your google trade while you are at it.
Yeah I remember Jim Cramer saying on "Bear Stearns Friday" that BSC would not survive in its (then) current form and I agreed. So I held some short calls over that weekend and it was a nice return when they were offered at 5 cents on the Monday.
But the biggest and best trade in 2008 was shorting FRE and FNM. That was one giant goldmine.
Even though I was short for many weeks waiting for the situation to be resolved, on the Friday evening, after the 4pm close but before the 8pm AH close, CNBC broke the story that they were being put into conservatorship. So I added to my already large position and shorted some more.
I've also had my share of losing trades, but 2008 was a lot of fun:
BSC FRE FNM IMB/IDMC WM WB LEH
up until the government decided that financial firms were no longer allowed to fail.
Quote from rickf:
Who cares? We all get lucky and/or have runaway winners at times:
Total crapshoot trade and it paid off well during that "Mother of All Short Squeezes" -- yes, it was my 'best' options trade thus far, but it's all part of the process. No need to gloat about it.[1]
Yes, I realise posting a trade report can be viewed as 'gloating' but it proves my point. We win some, we lose some. Would that we post our 100% (or gods forbid >100%) losses with such enthusiasm as well, right?
Could you post an EliteTrader link to this trade?
Where these trades conducted live on EliteTrader? Post a link.
Post an EliteTrader link to any live trade that surpassed a percentage gain of 770%.
That was me as well. I barely moved from my desk from the moment the JPM announcement came out on the Friday morning.
I posted on ET about how I didn't think the stock would be above $1 on the Monday morning, but obviously I was wrong given that the buyout was $2, and then it was changed to $10 I think.
here is the thread - good memories:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=121098&highlight=bsc
As for my position, I also wanted to take a larger position, but still made a good amount on what I had.
Although I don't believe in the efficient market hypothesis, I couldn't stop thinking that people were still confident in buying the stock over $30 and holding over the weekend - surely that many people couldn't be wrong.
In 2008, with BSC, FRE and FNM and all the others, I gradually realised that a lot of people didn't quite understand that financials can go insolvent very quickly, and that the stockmarket isn't as efficient as the textbooks say it is.