|
Post by ccash04 on Oct 6, 2010 11:00:35 GMT -5
UUP coming up on support, from Oct. 2009, around 22.30-22.40 area.
|
|
|
Post by ask2lern on Oct 6, 2010 11:04:01 GMT -5
Hey Gang.................I have been MIA being held hostage in the cardiac ward since Saturday eve....................just got out last night...........should be ok from here but have lots of catching up to do so probably wont be posting or trading for a day or so...................will try and get the pivots up tomorrow though...............hope everyone is doing well............just wanted to check in and may lurk a bit..........see ya soon............... :)GLTA
|
|
|
Post by clearwaters on Oct 6, 2010 11:13:17 GMT -5
Gees, Ask, hope all is well. Good thoughts coming your way and an exalt when I have one!
|
|
|
Post by deadmoney95 on Oct 6, 2010 12:00:54 GMT -5
Hey Gang.................I have been MIA being held hostage in the cardiac ward since Saturday eve....................just got out last night...........should be ok from here but have lots of catching up to do so probably wont be posting or trading for a day or so...................will try and get the pivots up tomorrow though...............hope everyone is doing well............just wanted to check in and may lurk a bit..........see ya soon............... :)GLTA Exalt to A2L! Take care and be well. You are missed!
|
|
|
Post by exabi on Oct 6, 2010 12:09:34 GMT -5
Hey Gang.................I have been MIA being held hostage in the cardiac ward since Saturday eve....................just got out last night...........should be ok from here but have lots of catching up to do so probably wont be posting or trading for a day or so...................will try and get the pivots up tomorrow though...............hope everyone is doing well............just wanted to check in and may lurk a bit..........see ya soon............... :)GLTA A2L, Take care of your self...we promise not to run with scissors.
|
|
|
Post by sp7015 on Oct 6, 2010 12:18:03 GMT -5
dip buyers should be coming in now.
|
|
|
Post by brosin on Oct 6, 2010 12:27:34 GMT -5
Hey Gang.................I have been MIA being held hostage in the cardiac ward since Saturday eve....................just got out last night...........should be ok from here but have lots of catching up to do so probably wont be posting or trading for a day or so...................will try and get the pivots up tomorrow though...............hope everyone is doing well............just wanted to check in and may lurk a bit..........see ya soon............... :)GLTA Ask I'm glad to hear you're doing ok, was wondering where you were. Best of luck, take care bud
|
|
|
Post by brosin on Oct 6, 2010 12:28:24 GMT -5
dip buyers should be coming in now. I think so too SP, or I hope at least (not sure if you saw my post in the FFR thread, but I just bought some AAPL weeklies!) Wish me luck - I already see they fly around even more than I had thought
|
|
|
Post by ccash04 on Oct 6, 2010 12:32:18 GMT -5
lots of trapped bulls from yesterday in those big cap tech names.. I see more pain.. FFIV all you can say is ouch..
A2L hope all is well and exalt coming your way!
|
|
|
Post by sp7015 on Oct 6, 2010 12:33:06 GMT -5
dip buyers should be coming in now. I think so too SP, or I hope at least (not sure if you saw my post in the FFR thread, but I just bought some AAPL weeklies!) Wish me luck - I already see they fly around even more than I had thought Yep I am heavy in aapl weekly's also. I have gone against my rules bought $290 calls and adveraged down. My sell target is $2 to $3 or at end of the day.
|
|
|
Post by sp7015 on Oct 6, 2010 12:36:27 GMT -5
Which weekly's did you buy brosin?
|
|
|
Post by sp7015 on Oct 6, 2010 12:37:27 GMT -5
If market can reverse course we will see some short covering in aapl and hopefully get green.
|
|
|
Post by brosin on Oct 6, 2010 13:05:53 GMT -5
Which weekly's did you buy brosin? Buy to open 10 AAPL Weekly Oct 8 $280 Call options @ $7.00 10/6/10 12:21 pm CT cost $7000 Buy to open 10 AAPL Weekly Oct 8 $280 Call options @ $6.65 10/6/10 12:23 pm CT cost $6650 Sell to close 20 AAPL Oct 8 $180 calls for $9.5 10/6/10 1:02 pm CT proceeds $19K (+42%) Took your advice SP - was at first looking at the $290s, but I didn't like the way excess premium one pays to take that risk. Liked the $280s
|
|
|
Post by abdogman on Oct 6, 2010 13:09:42 GMT -5
Hey Gang.................I have been MIA being held hostage in the cardiac ward since Saturday eve....................just got out last night...........should be ok from here but have lots of catching up to do so probably wont be posting or trading for a day or so...................will try and get the pivots up tomorrow though...............hope everyone is doing well............just wanted to check in and may lurk a bit..........see ya soon............... :)GLTA I am SO GLad you are ok and certainly hope you continue to do well...Plse keep us informed as you can. Exalt FWIW
|
|
|
Post by abdogman on Oct 6, 2010 13:12:47 GMT -5
macd neg now on 1m xlf fas xlf 14.71 on 1m
|
|
|
Post by sp7015 on Oct 6, 2010 13:14:22 GMT -5
Which weekly's did you buy brosin? Buy to open 10 AAPL Weekly Oct 8 $280 Call options @ $7.00 10/6/10 12:21 pm CT cost $7000 Buy to open 10 AAPL Weekly Oct 8 $280 Call options @ $6.65 10/6/10 12:23 pm CT cost $6650 Sell to close 20 AAPL Oct 8 $180 calls for $9.5 10/6/10 1:02 pm CT proceeds $19K (+42%) Took your advice SP - was at first looking at the $290s, but I didn't like the way excess premium one pays to take that risk. Liked the $280s NP I missed selling the $290's at $2.70 on that pop
|
|
|
Post by brosin on Oct 6, 2010 13:22:34 GMT -5
I would've except for your advice to take profits quickly when you have them. With the Oct 8, there is not much premium in the $280s, but it is still enough to not want to get decayed away. The $290s have significant premium - that's why I agreed with your assessment to buy only ITM options - it's not nearly as uphill a battle.
|
|
|
Post by abdogman on Oct 6, 2010 13:23:56 GMT -5
macd on 1m xlf fas just + now xlf 14.72 on 1m
|
|
|
Post by brosin on Oct 6, 2010 13:24:22 GMT -5
Also I jumped back in (per other thread) pretty quickly after the sell
Bought again $8.40 and $7.80 - so hoping for yet another pop
|
|
|
Post by deadmoney95 on Oct 6, 2010 13:28:26 GMT -5
Verizon Wireless to sell new Apple iPhone by next year: WSJ
|
|
|
Post by brosin on Oct 6, 2010 13:32:24 GMT -5
Looks like I chose the right day to start playing with my new toy (AAPL weeklies)
|
|
|
Post by sp7015 on Oct 6, 2010 13:41:14 GMT -5
Sold 20 contracts aapl weekly $290 at $2.20. Cost basis $1.5916.
27% gain.
And brosin that is why it is better to use ITM calls than OTM calls.
You can see how much they decade.
5 contracts at $1.90 at 10:27
5 contracts at $1.50 at 10:57
10 contracts at $1.44 at 12:58
|
|
|
Post by abdogman on Oct 6, 2010 13:42:21 GMT -5
BB's narrowing on 1m xlf fas macd just neg on 1m xlf fas xlf 14.71 on 1m
|
|
|
Post by brosin on Oct 6, 2010 13:43:03 GMT -5
Sold 20 contracts aapl weekly $290 at $2.20. Cost basis $1.5916. 27% gain. And brosin that is why it is better to use ITM calls than OTM calls. You can see how much they decade. 5 contracts at $1.90 at 10:27 5 contracts at $1.50 at 10:57 10 contracts at $1.44 at 12:58 Yeah for sure. I am gaining a whole lot of insight from just watching these $280 and $290 weeklies on Apple today. Thanks for pushing me through the beginner's course SP. Hopefully I'll be onto the intermediate level soon enough!
|
|
|
Post by sp7015 on Oct 6, 2010 13:43:44 GMT -5
Also I jumped back in (per other thread) pretty quickly after the sell Bought again $8.40 and $7.80 - so hoping for yet another pop The best way to play that is use what you made on the 1st trade to buy the second trade. That way you don't loose money. Judging by the action in the $290's I think it will close were it is or at least at $290 of Friday. If aapl does break $290 the stock should shoot up because you will have all the $290 weekly writers having to cover.
|
|
|
Post by sp7015 on Oct 6, 2010 13:52:32 GMT -5
Sold 20 contracts aapl weekly $290 at $2.20. Cost basis $1.5916. 27% gain. And brosin that is why it is better to use ITM calls than OTM calls. You can see how much they decade. 5 contracts at $1.90 at 10:27 5 contracts at $1.50 at 10:57 10 contracts at $1.44 at 12:58 Yeah for sure. I am gaining a whole lot of insight from just watching these $280 and $290 weeklies on Apple today. Thanks for pushing me through the beginner's course SP. Hopefully I'll be onto the intermediate level soon enough! The hardest thing for me is that I only get 3 day trades during the week because I don't have the required amount in my account to day trade. So I basicly blew all my day trades today. That really hampers you. If you can day trade you should be able to do pretty good because you can scalp alot. Basicly I asked myself what can I do to get the most leverage. I watched the weekly's and figured it was a vechicle to use to swing trade with. The other thought I had with the weekly's is to write spreads and capitalize on the decay if the trend is up. Problem is I can't write uncovered calls so I can't do it. But like today you could have bought the $280-$290 spread when aapl dropped. When aapl was lod of $285.26 the $280 was $6.45 amd $290 was $1.06. So your net cost would have been $5.39. I believe this strat would work best on Thursday's or Fridays when you have alot of decay.
|
|
|
Post by ccash04 on Oct 6, 2010 13:56:16 GMT -5
Use very tight stops in order to protect against losses that can happen in a heartbeat esp. if you are trying to bottom call.. Better to use them on momentum then bottom calling.. If you are paper trading then it doesn't matter as much (with regards to the strategy) b/c its far easier to lose 50% of your investment on those then w/real money. However, I would make note of what strategy you are using and the win rate as this will help you for the future. The gains can be great but the losses can happen the same way even w/ITM options..
|
|
|
Post by sp7015 on Oct 6, 2010 14:03:08 GMT -5
Brosin,
Now this is a perfect example of time decay in OTM options. The $290's are down 8.55% and the $280's are up 2.54%.
|
|
|
Post by sp7015 on Oct 6, 2010 14:07:04 GMT -5
Also in my book this isn't a good place to enter into a weekly call trade in aapl. You are at the highly manipulated strike price of $290 and it has been acting as resistance all day.
What can happen is all those people that bought the stock from $285-$289 start to sell it at the end of the day to lock in profits and your weekly's go down fast.
Also this isn't a good place to buy weekly puts because aapl could break through $290 and your putts go to nothing.
It is best just to be on the side lines right hear. Sure you might miss out a move higher but it isn't a very high probablity trade to be in right here.
|
|
|
Post by abdogman on Oct 6, 2010 14:11:27 GMT -5
BB's starting to spread now on 1m xlf fas faz xlf 14.695 on 1m
|
|