Time to buy CME ... 385

I figured you guys might like this one.....


I took the 400 level as support on 6/3, based on the nice bounce it had from the previous day at that level......

Well we all know how 6/4 went for this one, but it gave me another opportunity to average in with size....

Yes it was oversold and due for a bounce, but todays rally is a nice surprise....

GL to all you knife catchers out there....they do work sometimes...

$COSTAverageMAN
 

Attachments

Quote from atticus:

Typo. Should read long the calendar from 7.50. I posted the fly debit instead of the calendar debit. Calendar is currently 8.00 x 9.50. Fly is 1420 x 1700. Earned 9.00 on shares.
More...


Could you post your entry and exit or mark to market. I am trying to follow along the long butterfly. Is it better to get out when the 400 strike is hit or hold for theta decay. Also curious why you entered the trade. Thanks.
 
Quote from kinggyppo:

Could you post your entry and exit or mark to market. I am trying to follow along the long butterfly. Is it better to get out when the 400 strike is hit or hold for theta decay. Also curious why you entered the trade. Thanks.
More...

Both were slightly underwater yesterday on marks. I am going to hold both through the weekend. I didn't expect to see 400 today. My stuff triggered a long on CME yesterday.
 
I say this stock eventually gets to 220 before it will ever reach 500.


And no, I don't want to bet on it. It's just another worthless prediction based on pnf price targets.
 
Quote from scriabinop23:

I'm in a lot higher, but have averaged down here ...

Anyone else like it?

My gut tells me you'll get a news release in the next few days and this thing will be up 50 points.
More...

If you feel the need to talk your position, and ask others for reassurance that you are right, then the trade probably isn't a good one. I would bail and move on - with your low conviction level, even if you are right, there's no way you'd be able to take the heat and you'll end up getting stopped out at the eventual lows.

Time to exit.
 
Quote from Cutten:

If you feel the need to talk your position, and ask others for reassurance that you are right, then the trade probably isn't a good one. I would bail and move on - with your low conviction level, even if you are right, there's no way you'd be able to take the heat and you'll end up getting stopped out at the eventual lows.

Time to exit.
More...

Actually I already cut it down (my calls) to small size (my avg entry was around 410) at 402. Now I'll let it run longer term. You are right, size was too big. In the near term, I have some June 410/420 vertical calls that I'd like to 'mature' that seem to have a good chance.
 
Quote from atticus:

I am long spot from 376 and long the 360/400/440 June fly from ~12.50. Long the June/July 400 call calendar from ~7.50 to neutralize vega.
More...

Out of 1/3 of my CME fly at 19.00 on spot touching 400, +6.50, marked at 18x20 currently. The calendar is marked at 11.50 mid. Holding the remaining 2/3 of the fly and the time spread.
 
You must log in or register to reply here.
Back
Top