Already sold the options with strike 70. Now trying to reenter @ 2.30. 2.35 and 2.40, respectively.
shorting the jumping cat
- Thread starter heilbronner
- Start date
He had a cattle position that went against him big time. I think he added and added to it, and ultimately was out 2 million bucks at one point. The day he was going to have to close the position because of margin requirements, prices started to reverse. They continued to move in his favor until he was actually able to get out with a small profit. The story goes that he left the floor, went to the nearest chapel, and on bent knees, wept.
This story reminds me of yours, except for the margin call thing. Adding to a losing position, hanging in there until one day you posted that you had made a big mistake, etc. Then CAT starts to turn and work its way back. Now you are in the green.
If it were me, I would be one thankful person, that's for sure.
This story reminds me of yours, except for the margin call thing. Adding to a losing position, hanging in there until one day you posted that you had made a big mistake, etc. Then CAT starts to turn and work its way back. Now you are in the green.
If it were me, I would be one thankful person, that's for sure.
Also covered my Volkswagen short, just a few seconds ago @43.35. And yes, with a plus.
update: seems that I won't get a fill to reenter the 70s puts at a lower level.
So I just did this.
Sold some puts, strike 60, september, @0.15.
So I just did this.
Sold some puts, strike 60, september, @0.15.
Now the gap in CAT is filled and I'm adding to my stock short position.
Short @ around 71.70
Short @ around 71.70
I take some profits by covering @ 69.76 the position I shorted @ 71.70.
Cat allover with meaty profits.
This is how I did it although being totally wrong for some time.
IMHO you can always take your losses and most of you will bleed to death, oh yes, slowly.
NQ is filling the opening gap, but CAT doesn't move up a penny.
IMHO there is more selling pressure behind.
IMHO there is more selling pressure behind.
Now I take more profits @68.88, covered half of the remaining position with a nice profit and keep the the rest so far.
Now this position will never go into the red zone again for me, as I NOw!!!! use a stop.
It's when you sell that counts!! (Cassidy)
Now this position will never go into the red zone again for me, as I NOw!!!! use a stop.
It's when you sell that counts!! (Cassidy)
I will only end the remaining trades I posted on ET. Won't post new trades for quite a time.
Where is this dude, taking me as a contrarian?
Where is this dude, taking me as a contrarian?
As I'm not that patient I just covered all of the rest around $ 67.80 with meaty profits. Trade is done!!!!
You can always take your losses or you can bring it to an end with a profit.
But to bring it to an end with gains you ought to have lots of experience, big balls, money and and you should be ready to take the pain.
No pain, no gain. I don't believe people telling me there is a comfortable way in trading.
You can always take your losses or you can bring it to an end with a profit.
But to bring it to an end with gains you ought to have lots of experience, big balls, money and and you should be ready to take the pain.
No pain, no gain. I don't believe people telling me there is a comfortable way in trading.