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Post by cosmic on Jan 11, 2011 16:02:18 GMT -5
Interesting day complete with a minicrash to make things ever so exciting. Thing is those futures were sold in an uptrend - the flash crash had even a smaller number of futures traded during a downtrend.  So I'm not sure what to think other than there was a willing buyer.  No trades for me today, just watching the action as we approach opex.  Hope everyone made some money today and will do so tomorrow. Members, please post your results along with your RDA of new and improved smileys!  |
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Post by tajmahal9898 on Jan 11, 2011 16:05:43 GMT -5
covered LVS too early for b/e -- $200 -- should have waited..
shorted/covered LRCX for 10 cents.. $500..
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Post by papasloth on Jan 11, 2011 16:08:34 GMT -5
SVNT got a nice pop from the JP Morgan healthcare conference. I want it above 11 on Jan options expiration, and it closed at 11.09.
LDK hanging in well on revised earnings guidance yesterday. I want that above 11 on Jan options expiration as well, and it closed around 12.31.
HGSI had another nice run today, closing at 26.94, +1.11. I want that above 24 for Jan options expiration, and above 26 for Apr expiration.
Overall, the last two days set a new high water mark in my trading account, up 88% since Apr. Nice start to the new year!
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Post by ask2lern on Jan 11, 2011 16:09:37 GMT -5
Interesting day complete with a minicrash to make things ever so exciting. Thing is those futures were sold in an uptrend - the flash crash had even a smaller number of futures traded during a downtrend. So I'm not sure what to think other than there was a willing buyer. No trades for me today, just watching the action as we approach opex. Hope everyone made some money today and will do so tomorrow. Members, please post your results along with your RDA of new and improved smileys! Not sure if you saw this Cos.............. bidhitter.com/news/more-humor-from-our-friends-at-sesame-street-es_f-spx-spy-qqqq/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bidhitter2011+%28BIDHITTER%29&utm_content=Twitter ...................I did get a small PUT scalp + 19%...........just to much going on here at work to be real active for now..............also added to my ever growing SH position.........................Exalt Cos.......................Live to trade another day................................GLTA |
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Post by cosmic on Jan 11, 2011 16:19:12 GMT -5
Interesting but SPY volume for that same timeframe was several million I believe.
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Post by ask2lern on Jan 11, 2011 16:26:26 GMT -5
Interesting but SPY volume for that same timeframe was several million I believe. Yes sir you are correct..............13:05 5min vol was 1.69 mil 13:10 vol was 5.18...................bid went bye bye for a minute it looks like to me..................  ....................  |
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Post by demanuel2001 on Jan 11, 2011 16:26:32 GMT -5
Disappointing day. I was expecting LVS to continue its upward move and bought more shares as it fell today. Did get off one scalp. Took off some January puts and sold Feb or Mar puts with the same strikes ($47 and $50) for a lot more premium - that's often how I deal with downturns - just push the expirations back and pick up extra premium. Lightened up on SKX. Lightened up on MNKD. Tripled down on the pathetic MVIS and scalped AIG for a buck. When FJPNX reports I expect to be down mayb 1/4 to 1/2% of portfolio value for the day but still up more than 6.5% for the year.
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Post by ppppp3571113 on Jan 11, 2011 16:28:32 GMT -5
day order for TNA at 71.0 unfilled and expired  |
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seatoo
Commodities Trader
Posts: 168
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Post by seatoo on Jan 11, 2011 16:29:56 GMT -5
Added EEE at 2.22 - Thanks to Ben for the tip. Hope to exit near the top, where ever that is...
Added RNN at 1.34 Looks like it's heading up after pulling back from last week's high.
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Post by papasloth on Jan 11, 2011 16:50:24 GMT -5
that's often how I deal with downturns - just push the expirations back and pick up extra premium. I do this too, but since the maximum theta is generally right around the money, I usually try to lower my strike rather than collect more premium. That also means that if the stock continues to go down, I don't find myself further and further in the money with more and more delta but less and less theta. I'd rather increase my pasition size with a better strike to increase my premium. |
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Post by cosmic on Jan 11, 2011 16:59:53 GMT -5
covered LVS too early for b/e -- $200 -- should have waited.. shorted/covered LRCX for 10 cents.. $500.. Taj I hope my call yesterday didn't unnerve you. I knew 51+ but had no idea the market reaction to it. I was not surprised to see it sell down, but to go as low as it did?!?  |
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Post by brosin on Jan 11, 2011 17:06:18 GMT -5
covered LVS too early for b/e -- $200 -- should have waited.. shorted/covered LRCX for 10 cents.. $500.. Taj I hope my call yesterday didn't unnerve you. I knew 51+ but had no idea the market reaction to it. I was not surprised to see it sell down, but to go as low as it did?!? Fwiw I'm short from $46.75 / -5.2% unrealized, but not worried about it at all... |
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Post by demanuel2001 on Jan 11, 2011 17:07:41 GMT -5
that's often how I deal with downturns - just push the expirations back and pick up extra premium. I do this too, but since the maximum theta is generally right around the money, I usually try to lower my strike rather than collect more premium. That also means that if the stock continues to go down, I don't find myself further and further in the money with more and more delta but less and less theta. I'd rather increase my pasition size with a better strike to increase my premium. Oh I'll vary the strike too - but not always. You may notice that the two strikes I mentioned basically straddled the current price if not exactly at the money. |
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Post by brosin on Jan 11, 2011 17:22:28 GMT -5
Real Life[/u] FFR was level at .17% and remains in 'get your parachutes ready' territory; it is barely off the .16% 'deployment on risk' level, and is painting as clear a picture as possible of what it on the way. The lending market is not acting healthy at all despite the stock markets' current levels.... My FAZ from $9.25 re-lost a bit of $ today... I think today might've been one of the best one day moves my IRA , has ever seen, +3.7%... now +11.8% YTD in 2011 - I formulated a plan of action because I do not feel comfortable holding all at this level. I may do a Cos 'profit skim' soon on it.  Monopoly World[/u] Big Cap - decent day, +1.1% with a few moves Buys: -(to cover all remaining) BKE @ $37, $36.82, $36.71, and $36.80 for avg 1.2% on that batch and +1.3% on the overall trade... big time positive given that I was down >-$100K / -10% at one point; also, had to cover today as it goes ex-div tomorrow... I will re-short it though and still like it as a short at current levels -(add) FAZ @ $8.92 / avg $9.37 unrealized -4.6% on 4.5x "long position" -(add) DRV @ $18.62 / avg $19.18 unrealized -3.9% on 10x "long" position Sells: (all) DANG @ $29.05 / +2.1% on the trade (was again a big time unrealized loss at the beginning) Shorts: (add) CLF @ $84, avg $81.98 unrealized -3.6% on 4.5x short position (add) LVS @ $50.28, avg $46.75 unrealized -5.2% on 8x short position (add) BAC @ $14.58, avg $13.81 unrealized -6.4% on 7x short position (add) NFLX $188.50, avg $183.50 unrealized -1.7% on 3.5x short position (starter) CMG @ $220.75 I am now 3% long, 97% shortscalp trades - no moves, still holding FAZ, acct -1.8% on the day Options Acct [/url] - no moves, still holding SPY Jan $126 puts that are decaying quite nicely, acct -20% on the day All in all, accounts were down -.3% on the day
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Post by tajmahal9898 on Jan 11, 2011 17:40:55 GMT -5
covered LVS too early for b/e -- $200 -- should have waited.. shorted/covered LRCX for 10 cents.. $500.. Taj I hope my call yesterday didn't unnerve you. I knew 51+ but had no idea the market reaction to it. I was not surprised to see it sell down, but to go as low as it did?!? Yeah Cosmic, it's all your fault.. give me my 4K....  No, what triggered the covered call was the yesterday's China Sands movement.. 6.5% upward movement on no real news.. The position was slightly risky and then there are better opportunities out there. Bro -- you are the IRON MAN -- what can i say -- i can't afford to be down 6% on large volume -- have to do quick scalps.. Good Luck |
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Post by papasloth on Jan 11, 2011 17:47:53 GMT -5
Yeah Cosmic, it's all your fault.. give me my 4K.... You should call your broker and ask for a "do over." |
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Post by brosin on Jan 11, 2011 17:48:05 GMT -5
Taj I hope my call yesterday didn't unnerve you. I knew 51+ but had no idea the market reaction to it. I was not surprised to see it sell down, but to go as low as it did?!? Yeah Cosmic, it's all your fault.. give me my 4K.... No, what triggered the covered call was the yesterday's China Sands movement.. 6.5% upward movement on no real news.. The position was slightly risky and then there are better opportunities out there. Bro -- you are the IRON MAN -- what can i say -- i can't afford to be down 6% on large volume -- have to do quick scalps.. Good Luck I hear you Taj - only reason I am able to do it like this is that in general I am usually solidly on both sides of the market. It is only when it starts to get too ahead of itself that I end up very unbalanced (and usually with my account value way ahead so that it is house money). Here I have gone from about 55-60% short at Christmas to now almost 100% short, but it is only because the market kept going up (so that I sold my longs and added to my shorts)... even at 1280 and me having a short bias for the last 4 weeks, I am not very much off a new high. The "take what the market gives me" strategy has been paying nice dividends |
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Post by Rich on Jan 11, 2011 17:51:28 GMT -5
I bought more spy puts....I almost never do this. But I was looking at the charts, the spx was going sideways at 1275-1276, and it just seemed like there were no buyers left.
anywhere.
and there should have been.
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Post by benvestor on Jan 11, 2011 20:09:22 GMT -5
bought an AAPL put.. at 3.85 didnt sell at 4.25 for a profit.. just feeling the drop is imminent, and of course now i cant stop obsessing on the market and just want the damn drop to get out of the way..
Going to eventually go long AAPL, GOOGLE and Gold or silver (prob via options).. possibly other stuff but seems like buy and hold is just easier then finding perfect entries..
Of course there will be days for daytrading pennies and options but with much less capital
congrats on the EEE play guys, will prob look for an entry in the near future if this is still moving tellingly
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Post by actuarynomore on Jan 11, 2011 23:00:49 GMT -5
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