Taking 320K to 3.5million by Year End 2009
- Thread starter neke
- Start date
- Status
How many contracts?
A $176,000 aggregate options trade.
Stunning courage.
Congrats.
AZD
Weekly Update for week 33/50 ended 08/29/2009
Another nice week, up 64K (17.3%). Delighted to be on a new high. Finally some buffer starting to build up.
The emphasis continues to be bullish on the market, buying on dips. The market was basically flat for the week, so could easily have profited shorting (buying puts) on rallies as well. Buying strength after earnings however proved horrible on COCO and DELL this week.
The star trade was on AIG puts on Friday. On thursday saw the rally, and tried fading, bought 100 IKGUS (SEP 45 PUT) @ 6.5, put in a limit order for another 100 @ 5.5 and went away. When I came back the order had filled as AIG went to 50 and came back down below 47. Could have exited for a little gain, but held on too long as the stock made another push higher. Exited @ 5.55, losing 9K. Made another attempt at a quick one later in the day, again losing 4K. Should have left it alone. Then Friday the stock took off again in the morning. Felt it was now very ripe for a pull-back, buying 100 IKGUX (50 Put) @ 5.80, another 100 @ 5.60. Waited and saw the stock attempt a comeback about 9.46, added another 100 @ 6.20. Watched as the stock paused at 54 and remained there while the market sold off: it was clear a "strong hand" was propping it up. Was determined to sit it out and see how long the hand could hold it. Didn't take too long as the sell off began shortly before 11.30am. Exited 150 @ 7.50 and the remaining 150 @ 8.00 some minutes later. Net 56K. The joy was punctuated by lousy trading on DELL (DLYIC). Waited for the market to open to load up on the call. Unfortunately it shot up high at open, and instead of shying away decided to buy 200 contracts @ 2.03. Kept adding 200 contracts as the stock came down, total 1200 cars, until a buzzer rang in my head -- TOO MUCH LEVERAGE. Immediately exited 400 contract almost at the price the last ones were bought. Waited some more minutes, and the stock showed no signs of life: decide to exit all, and suffer the 26K loss. Good decision as I could have suffered severely.
The other great trades were SPY calls buying on pull-backs Wed, Thur and Fri.
Another nice week, up 64K (17.3%). Delighted to be on a new high. Finally some buffer starting to build up.
The emphasis continues to be bullish on the market, buying on dips. The market was basically flat for the week, so could easily have profited shorting (buying puts) on rallies as well. Buying strength after earnings however proved horrible on COCO and DELL this week.
The star trade was on AIG puts on Friday. On thursday saw the rally, and tried fading, bought 100 IKGUS (SEP 45 PUT) @ 6.5, put in a limit order for another 100 @ 5.5 and went away. When I came back the order had filled as AIG went to 50 and came back down below 47. Could have exited for a little gain, but held on too long as the stock made another push higher. Exited @ 5.55, losing 9K. Made another attempt at a quick one later in the day, again losing 4K. Should have left it alone. Then Friday the stock took off again in the morning. Felt it was now very ripe for a pull-back, buying 100 IKGUX (50 Put) @ 5.80, another 100 @ 5.60. Waited and saw the stock attempt a comeback about 9.46, added another 100 @ 6.20. Watched as the stock paused at 54 and remained there while the market sold off: it was clear a "strong hand" was propping it up. Was determined to sit it out and see how long the hand could hold it. Didn't take too long as the sell off began shortly before 11.30am. Exited 150 @ 7.50 and the remaining 150 @ 8.00 some minutes later. Net 56K. The joy was punctuated by lousy trading on DELL (DLYIC). Waited for the market to open to load up on the call. Unfortunately it shot up high at open, and instead of shying away decided to buy 200 contracts @ 2.03. Kept adding 200 contracts as the stock came down, total 1200 cars, until a buzzer rang in my head -- TOO MUCH LEVERAGE. Immediately exited 400 contract almost at the price the last ones were bought. Waited some more minutes, and the stock showed no signs of life: decide to exit all, and suffer the 26K loss. Good decision as I could have suffered severely.
The other great trades were SPY calls buying on pull-backs Wed, Thur and Fri.
Code:
Opening Balance: 367,936
Net gain for the week 63,508
------------------------------------------------
Net Balance: 431,444
Number of Trades 25
Number of Profitable Trades 19
Since Inception of Thread 01/10/2009 - 08/29/2009
Opening Balance: 320,064
Net gain (Less Margin Interest) 111,380 (Up 34.8%)
------------------------------------------------
Net Balance 431,444
Number of Trades 877
Number of Profitable Trades 547
TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE
IKGUX 2009-08-28-09-34-57 2009-08-28-11-56-03 30000 175855 232500 56214 AIG PUT
SWGIX 2009-08-27-09-53-05 2009-08-27-13-36-17 40000 91000 106800 15256 SPY CALL
SWGIX 2009-08-28-12-22-30 2009-08-28-15-28-12 40000 102800 113200 9856 SPY CALL
SWGIX 2009-08-26-11-32-38 2009-08-26-15-53-23 40000 106800 114800 7416 SPY CALL
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IKGUS 2009-08-27-15-29-09 2009-08-27-15-41-14 20000 103435 100000 -3712 AIG PUT
IKGUS 2009-08-27-11-16-46 2009-08-27-14-05-30 20000 120000 111000 -9284 AIG PUT
COCO 2009-08-25-09-39-43 2009-08-25-11-31-21 40000 772077 760099 -12152 LONG
DLYIC 2009-08-28-09-33-34 2009-08-28-11-18-50 120000 196701 171905 -26423 DELL CALL- Status