Trajan's options journal

I just realized that you probably think I'll remain short through the announcement. No, my risk will determine where the deltas lean or don't. I could be delta neutral, long or short. I'll wait and see what happens today and tommorrow. I won't make a big bet like that on earnings.

Two things I noticed doing some work before getting a couple hours of sleep. Amzn looks to be coming to some sort of point where it may make a move. I'll look at it on Wednesday and see if it's still valid, maybe it'll just move sideways. Also, remember Sybase? This stock generated a lot of speculation about seven years ago. It has one those patterns that make me say some tech doesn't look bad. They trade at a decent multiple and will grow earnings this year. No option volume though, would be tough trade for what I want to do. I'll find the screen capture software to be able to post charts with what I'm looking at.
 
Stock rallies a little bit, not surprising considering it has come off a little quick. It went back up to the line of support from which broke last week. Today, I sold 10 more of the Feb 15 puts. This was as part of covering the short and to sell gamma. The price were pretty darn good as both were done for the sythnetic equivalent of selling the call on the offer. 4 were at 1.70 and 6 at 1.75. Also tried to scalp some stock, it wasn't pretty. I need to focus more when doing this. It isn't my cup of tea but I need to attain a basic level of mastery to trade options against it.
 
wondering if you take likely "pegging" scenarios into consideration in any of your options trading/positioning. That is so far as deciding how, what and when to leg into positions.

I do quite a lot, and have fortunately been successful. Thnx.

I:cool:
 
Quote from iceman1:

wondering if you take likely "pegging" scenarios into consideration in any of your options trading/positioning. That is so far as deciding how, what and when to leg into positions.

I do quite a lot, and have fortunately been successful. Thnx.

I:cool:
More...
If I understand what pegging is then the answer is yes. The close was a good example as I got off 8 of feb 12 for .45 and earlier the 15s were done partly in a similar manner. I actually do have some trading skill(not sure how much) and was able to place the offers at good spots. I'm even surprised that a fair amount of orders so far have been filled at prices I like. Csco typically has fairly large size on the bid/ask and I was able to get off that 8 at .45 a couple of minutes before the close. They closed .35-.40.

To sum up the day, it was pretty good. I was able to limit the damage of coming into today too short. Got off options at prices I like, And yes, covered my scalp for a profit. Sold off about 400 gamma and am long about 400 deltas. Tommorrow, I'll look to sell the feb 12s out. The account settled today at 29,192, which sounds about right considering it was short coming into today and the decay.
 
Man...what a call...still retracing and we are at the day off earnings. Just so you know....I started a new thread in options...there is unusual activity today at the Feb 17.50 calls....voume is at 4000. This is very interesting to say the least.
 
BTW....if you look at a chart on CSCO....this $13ish level is critical...if it can hold here and get a couple of white sticks....this has the formation of a pretty good double bottom.
 
10:35:09 50 0.05 + INTERNAT au
10:12:39 65 0.05 + CBOE
10:12:39 65 0.05 + CBOE
10:12:39 65 0.05 + CBOE
10:12:39 66 0.05 + CBOE
10:12:39 66 0.05 + CBOE
10:12:39 66 0.05 + CBOE
10:12:39 66 0.05 + CBOE
10:12:39 66 0.05 + CBOE
10:12:39 225 0.05 + CBOE
10:11:48 10 0.05 + CBOE au
10:11:48 50 0.05 + CBOE au
10:11:48 50 0.05 + CBOE au
10:11:48 40 0.05 + CBOE au
10:11:48 50 0.05 + CBOE au
10:11:48 50 0.05 + CBOE au
10:04:15 300 0.05 + CBOE
10:04:15 100 0.05 + CBOE
10:04:15 100 0.05 + CBOE
10:04:15 100 0.05 + CBOE
10:04:15 100 0.05 + CBOE
10:04:15 100 0.05 + CBOE
10:04:15 100 0.05 + CBOE
10:04:15 100 0.05 + CBOE
09:43:42 950 0.05 + AMEX
09:30:24 648 0.05 + CBOE
09:30:24 352 0.05 CBOE
 
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