Thirsty's options

[thirst]

Sold 560 in the morning at 1.1. Still got 1000...

 

[thirst]

Go out of the rest 1000 at 1.7 avg today from a cost of 1.

If anyone else caught a piece of it.. =) for you.

 

[novel20]

Nice trade, thirst!

Multioption, it is your turn to show a nice trade!

 

[cnms2]

Leave the man alone ... He seems to be a nice guy that made a few bad calls. Why do you enjoy picking on him?

Quote from novel20:

Nice trade, thirst!

Multioption, it is your turn to show a nice trade!

 

[thirst]

Long 2000 TXN 35 calls.

.7 avg.

 

[cnms2]

Which option to buy? - from L. McMillan's presentation

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1064421>

 

[thirst]

thanks for the reminder. =)

I deviate from the plan when I have a good amount of profit to use, in this case more than half the cost of this position was profit from the previous trade.

 

[novel20]

thirst, how do you handle such big swing day in and day out?

Today your TXN calls are under water for $80,000.

 

[thirst]

My option portfolio is sort of my big risk taking portfolio. It represents about 10% of my total investment capital. Intraday I trade index futures and hold a portfolio of stocks as long term. With this trade, my basic premise is that I am risking 140k to make 140k, and at the same time, i am prepared for the options to expire worthless. I do plan to sell them on Friday regardless though. YTD, my option portfolio, which I started with about 150k, is up 250k, so part of my strategy in some trades is taking a swing with my profits.

In any case, I am still holding.

 

[iceman1]

Quote from thirst:

Friday's sale was at 3.2. I am raising the stop on the remaining position at 3. I picked up a 10% position in AMD april 30 calls today at 4 dollars. Stop at 3, target 6.

didn't read entire thread, but did you ever look at TIE calls? Think if you put funds into TIE calls at 73 a few days ago? Might be worth looking to swing into some puts as expiry nears