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Post by cosmic on Aug 4, 2010 16:20:53 GMT -5
Market wants to go up, something weighing it down. Did not like the action in some of the junk stocks, while others seemed to have had a decent day. Otherwise looked like float upward without affecting valuation too much for the weekly opex.  Added a few FAS calls anticipating BAC breaks out. If it does not, then I'll be adding some FAS short to compliment my FAZ short, because they're both going to decay like hell if we stall here.  Got out of my LVS straddle today, left some on the table but not disappointed. It performed as it was supposed to, and closed the entire trade very green. ;D Hope everyone made some money today and will do so tomorrow. Members, please post your results along with your RDA of smileys!  |
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yjfang
Broker/Dealer
Posts: 525
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Post by yjfang on Aug 4, 2010 16:23:38 GMT -5
Flipped FAS once today for +0.31. Nice little pocket change while doing paperwork.
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Post by sloop on Aug 4, 2010 16:26:41 GMT -5
daytraded BAC all cash.
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Post by timber on Aug 4, 2010 16:34:55 GMT -5
3 fas trades....sold tamo today....and bought leap i needed to take a chance on that ....the volume has never been this high ever.....somethings going on here ;D...........either its going BK or to the moon.....you pick.....reminded me of when stec fell that time and i made a nice scalp on it
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Post by novice08 on Aug 4, 2010 16:36:29 GMT -5
Sold fas from yesterday for a small profit of 1.5%. sold my sgy too soon for a nice 11%. Being long works best for me,  . |
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Post by tajmahal9898 on Aug 4, 2010 16:41:07 GMT -5
Researched many stocks, prepared tickets, submitted and canceled them  ... One trade 100 Aug 29 SDS calls at 2.20 still holding AMAT.. MRVL, CENX, MU are on move, unfortunately, I am not on that train... |
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Post by benvestor on Aug 4, 2010 16:53:39 GMT -5
holding 1 PCLN put. Willing to hold for a few days for the pullback
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Post by theMIST on Aug 4, 2010 16:57:25 GMT -5
Still holding FAS short thinking we pullback tomorrow OR Friday OR maybe BOTH. Looking for entry point to re-enter FAS long.
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Post by demanuel2001 on Aug 4, 2010 17:02:14 GMT -5
Nice day +about $20k - mostly driven by my LVS position. Didn't do any scalps. Did do some stuff with high strike calls and rolling low strike puts. Mostly grabbing a bit more premium.
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Post by commodityypro on Aug 4, 2010 18:04:29 GMT -5
no trades
Finally figured out how to change my avatar. Does this one get you're approval Bellevue? lol
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Post by zabee on Aug 4, 2010 18:09:26 GMT -5
Comm one more exhalt to go!! I owe u one more :-)
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Post by cosmic on Aug 4, 2010 18:09:50 GMT -5
Demanuel, I've been looking at the deeper ITM Sep calls, any thoughts on those?
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Post by exabi on Aug 4, 2010 18:11:29 GMT -5
no trades Finally figured out how to change my avatar. Does this one get you're approval Bellevue? lol Kinda got used to your lawnmower man |
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Post by commodityypro on Aug 4, 2010 18:18:50 GMT -5
no trades Finally figured out how to change my avatar. Does this one get you're approval Bellevue? lol Kinda got used to your lawnmower man Ya, I liked him too. Problem is I have a "environmentally responsible" push mower. So I thought I would do like Timber for a bit and start changing my avatar to what's on my mind.. lol Drink anyone? That is if Sloop will give anyone else a turn. Some hollow leg you got there Sloop.. lol |
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Post by demanuel2001 on Aug 4, 2010 18:20:31 GMT -5
Demanuel, I've been looking at the deeper ITM Sep calls, any thoughts on those? I usually dont buy options but prefer to write them. Still, if you get a deep in the money call, I guess you're not paying too much premium for a very nice leveraged bet for 2 weeks. I would think if LVS continues to run those calls would be a nice way to play. |
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Post by bellevuetrader on Aug 4, 2010 18:53:12 GMT -5
No trades today....and yes commod. Approval will be granted when you tell me what the heck it is...lol
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Post by ask2lern on Aug 4, 2010 19:30:12 GMT -5
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Post by brosin on Aug 4, 2010 19:42:46 GMT -5
No trades, still waiting for ARNA to see where some support is once the initial climb breaks. I see a major H&S on the 60 min / 2 wk chart.
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Post by Rich on Aug 4, 2010 19:47:58 GMT -5
No trades, but I looked at a real cool concrete mixer I might buy. |
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Post by cosmic on Aug 4, 2010 20:10:20 GMT -5
Demanuel, I've been looking at the deeper ITM Sep calls, any thoughts on those? I usually dont buy options but prefer to write them. Still, if you get a deep in the money call, I guess you're not paying too much premium for a very nice leveraged bet for 2 weeks. I would think if LVS continues to run those calls would be a nice way to play. Given the time to expiration and the amount of TP in both the puts and the calls, which is true of many many stocks I watch, I suspect we will be doing some whiffling in this area, maybe a little higher to keep the 29'ers on their toes. So it would have to be deep ITM to avoid the ravages of pullbacks, or as you suggest some strategic shorting. |
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Post by puurfectten on Aug 4, 2010 20:20:58 GMT -5
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Post by demanuel2001 on Aug 4, 2010 20:32:27 GMT -5
I usually dont buy options but prefer to write them. Still, if you get a deep in the money call, I guess you're not paying too much premium for a very nice leveraged bet for 2 weeks. I would think if LVS continues to run those calls would be a nice way to play. Given the time to expiration and the amount of TP in both the puts and the calls, which is true of many many stocks I watch, I suspect we will be doing some whiffling in this area, maybe a little higher to keep the 29'ers on their toes. So it would have to be deep ITM to avoid the ravages of pullbacks, or as you suggest some strategic shorting. I just looked at the closing bid/ask of August calls. The $22 calls were $6.95 asked - that's 6 cents above intrinsic value. That's the type of deep in the money leveraged option where you dont need to pay much above intrinsic. |
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Post by brosin on Aug 4, 2010 20:37:51 GMT -5
What's the difference between doing that as opposed to just buying the stock?
(Probably a stupid question, and I KNOW it's one I've asked Cosmo before)
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Post by Rich on Aug 4, 2010 20:45:08 GMT -5
Just more leverage, Bros.
I'll tell you something wierd. When I got home, FAS sep 25 calls were up more, cent wise, than their papa.
I think FAS was green like 9 cents at the time.
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Post by brosin on Aug 4, 2010 20:50:45 GMT -5
But if it's all intrinsic value, if you buy the $22 call for $6.95, and the stock goes up $3, won't your option just go up $3?
And there you have it. I'm still posting this because I just answered my own question in case anyone else was also wondering (probably not though lol).
$3/$6.95 (option) > $3/$29 (stock)
43% > 10%
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Post by torrentio1 on Aug 4, 2010 20:56:55 GMT -5
Looks like it was a consolidating market up portfolio down session. Apparently the machines did not get the memo and were intent on going down? The markets seems to have disagreed with them. Maybe they will get on the right side of the trade early on tomorrow? Backtest complete? I remain all in and remain bullish..  Hope all did well!!!! ;D ;D ;D ;D Also hope semiconductors get off their ass -plenty of catching up to do in that severely lagging sector!!! My feeling is that semiconductors will rally big time once they break out... ;D |
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Post by benvestor on Aug 4, 2010 21:06:02 GMT -5
But if it's all intrinsic value, if you buy the $22 call for $6.95, and the stock goes up $3, won't your option just go up $3? And there you have it. I'm still posting this because I just answered my own question in case anyone else was also wondering (probably not though lol). $3/$6.95 (option) > $3/$29 (stock) 43% > 10% And you see the deadly allure of options now Bros.. |
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Post by benvestor on Aug 4, 2010 21:06:31 GMT -5
Looks like it was a consolidating market up portfolio down session. Apparently the machines did not get the memo and were intent on going down? The markets seems to have disagreed with them. Maybe they will get on the right side of the trade early on tomorrow? Backtest complete? I remain all in and remain bullish.. Hope all did well!!!! ;D ;D ;D ;D Also hope semiconductors get off their ass -plenty of catching up to do in that severely lagging sector!!! My feeling is that semiconductors will rally big time once they break out... ;D NVDA is looking might cheap right about now.. |
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.................also took large positions in SH in both my LT accounts..................guess how I am voting in the poll ;D...................Exalt for Cos....................live to trade another day..........................GLTA
