Sleepless Nights

covered my short from todays open (1135) @ 1117 +18. after the scalping and stuff, i almost made up for yesterdays NQ spike loss.

The reason i'm covering isn't cause i think it will go higher. Its cause i'm slowing down on the shorting. The bull is awake, and i don't want to be in the ring with him.

edit: i'm holding puts cause it's got a fixed risk. I know we take out lows dats why :D
 
what happens if markets are closed on triple witching friday? what happens to my QQQ June 27 puts?

edit: these puts were going for .15 and .20 earlier today where i bought them. I expect that they will be worth .60 at least by tomorrow.

 
I've decided to take the 2k account challenge.

I put about 1.9k into a futures and options account, and i will see how quickly I can acheive these results. I used the other $100 for data feed and overhead.

2000
4000
8000
16000
32000
64000
128000
256000
512000
1024000

I will post my daily reports from IB here for the stock and options account. One cool thing about IB is that they made it so you could transfer funds between accounts instantly. I used this feature today alot because I took my profits from the futures, and added them to the options account since i could only trade one futures contract.
 
I may not take my gap plays in the beginning, since the risk management i use requires only playing with 1/8th for the gap plays. Or I may do it with options only as they are cheaper than the nq contract.
 
NDX confirmed my opinion that the market will bottom tomorrow, because we can't bottom without new lows. :D that may sound silly, but it's a good indicator for me since NDX is making new lows near the day I predicted as bottom.

Tomorrow I will be covering my puts and getting long. I may temporarily shift all moneys to the option account as I will average into calls as we make new lows.

From the looks of it so far, my option and futures accounts total 2500. Thats probably before commissions which will probably be like 50 bucks.

Net profit probably 500 bucks for today. Thats roughly 25%. I will post the record of my trades when IB sends it to me via email.
 
hey lundy, question, so lets say we do get a flush out here and you play the options on the qqq's how far out would you play it, meaning would you buy calls two months out or longer or just the first month and really watch it for movement? i currently trade about one month out and am thinking about buying up some calls when this thing takes a dump, if it ever does. any thoughts?
 
Daily Account Statement for 19-JUN-2002, generated 19-Jun-2002
20:40:02 EST

Type: FUTONLY Base Currency: USD

The "courier" font is recommended for viewing this document.


==========================================================================================

CURRENCY: USD

FUTURES TRADES
---------------------------------------------------------------------------


Trade Time Exchange Description Qty Trade Price Set
Price Gain/Loss *
----------------- --------- ----------- ----- -----------
----------- ----------- -
02-06-19 09:30:05 GLOBEX NQ SEP02 -1 1135.0000
1103.0000 640.00
02-06-19 14:24:43 GLOBEX NQ SEP02 1 1118.5000
1103.0000 -310.00
02-06-19 14:41:06 GLOBEX NQ SEP02 -1 1113.0000
1103.0000 200.00
02-06-19 14:44:00 GLOBEX NQ SEP02 1 1112.5000
1103.0000 -190.00
=====
===========
0
340.00


===========
USD
Total: 340.00


CASH TRANSACTIONS
------------------------------------------------------------------------


Entry Date Effective Date Description
Amount
----------- --------------
----------------------------------------- ------------
19-JUN-2002 20-JUN-2002 TRANSFER TO S9697
USD -500.00
19-JUN-2002 20-JUN-2002 TRANSFER TO S9697
USD -200.00

============
USD
Total: -700.00


FUTURES GAIN/LOSS SUMMARY
----------------------------------------------------------------

Gain/Loss From Futures Trades
340.00


============
USD Total:
340.00


==========================================================================================


ACCOUNT STATUS
---------------------------------------------------------------------------


USD
Starting cash balance 1905.49
Settled: 1905.49
Cash deposits/withdrawals -700.00
Total Futures Gain/Loss 340.00
Total Commissions -9.60
==============
==============
==> Ending cash balance 1535.89
Settled: 1535.89


Open options value 0.00

==============
==> Total Equity 1535.89

Initial Margin: See Trader Workstation window
Maintenance Margin: See Trader Workstation window


------------------------------------------------------------------------------------------


(*) Code legend:

L - Ordered by IB (Margin Violation)
M - Entered Manually by IB Operator


***
 
hey lundy thats great man, but for your benefit you might want to edit your personal info that you posted w your trades up top. you can never be too careful ya know.
 
i'm getting that post deleted.

i'm not an expert on options. I will probably buy july only, and just role them over at expiration if i still want to hold the position.

I also average in and out of options intraday when there is strength and weakness.
 
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