Boca_Bobby Basics

[illegal_alias]

We also moved away in 2011. We always thought we were going to go back to the PB/Melbourne area, and then started thinking acreage and looking further north - Titusville (the Land that Time Forgot), then Daytona area, then Green Cove Springs area, finally buying 10 acres north of Jax. Somehow, ended up further north than that, so now trying to figure out how to get back south.

[boca_bobby]

Lived in Boca for over 10 years. We moved about 2 years ago and just never changed my screen name. Plus BocaBobby always had a nice ring to it.... lol

[illegal_alias]

Boca, Palm Bay ain't Boca. LOL. I used to live in both. Prefer PB over Boca, but career took me back north a bit.

[boca_bobby]

Forgot to post my last options trade here. Hope you guys are still watching Twitter....

[boca_bobby]

Hello All,

Just checking in with ya'll. We're starting to kill it in the forex arena. Last month we had a +160%. So far this week we are up 45%. We are still down for the year overall but the light bulb went off and we really should end with a respectable portfolio for the year.

Hope ya'll are kill'n it in the options world

[boca_bobby]

Nice job! You know me. I've been working extremely hard at it and think I've finally created a nice scalping system. Early results are promising but it's only been used for 1 week. I really wanna see how it performs this week after all the "tweaking" has been completed.

The great thing about forex trading is that it's very possible to create an automated trading system. Once you have a good system, just throw some money at it and walk away. Then just come back in a month or so to collect your profits!

Life is good.... lol

[nicehit]

Hi BB, been trading a few option I'm up about 2500 for the year. Yahoo was a big hit for me. Hope all is well with the currency trading.

[polkamatic]

LF 4/20 10.00 calls @ .25 today...

http://finance.yahoo.com/q?s=LF130420C00010000


I'm pounding the table with my LeapPad here!
LOL

[boca_bobby]

DE looking like it wants to dip here. I'm liking it. If we can get down to about $90 it will have hit the .382 retrace level. I'd look to go long there again!

[boca_bobby]

I'm thinking we may get a dip in the market soon. It might be great for the market and even better for us to load up if it happens.

Bought 1 GS Feb 08 2013 145.00 Put @ $1.16

[boca_bobby]

Ok, to keep our 20% profit we sold the DE position @ $0.67. We just gotta keep at it....

[boca_bobby]

Did anyone hold the $460/$465 CS I alerted yesterday? If so I think your golden. The only reason I rolled into DE is to make a last ditch effort here to gain a little more capital going into the end of the month.

Our AAPL position had a total upside of about $500. With a target of $100, our DE position has a $1000 of upside. The best case scenario would be to have both positions but alas, AAPL had to be punished by the street. I guess $13 Billion made in 3 months just doesn't buy the love of Wall Street anymore. lol

I'm am still so optimistic that this challenge will produce amazing results. Just look at some of the alerts I've given

GS
GOOG
CVX
DE
NFLX

All of these stocks have popped at one point or another. It's been our lack of capital here recently that prevented us from hitting our yearly goals in the first month!

So hold onto your hats folks, we're gonna fly!!

[boca_bobby]

Rolled out of AAPL today at even and into DE. It just keeps inching higher and higher.

Buy 2 DE Feb 01 2013 95.00 Call @ $0.49

[boca_bobby]

We rolled into the Feb01 AAPL $560/$565 CS @ $1.12.

[boca_bobby]

Sold our SLV $29.50/Puts @ $0.33 for a double. We could see a bit of a bounce here.

[boca_bobby]

ROFL. How many "experts" do they need to hire to sell more product?

[nicehit]

BB, thoughts on the DNAX PR today?

[boca_bobby]

Well, We really put ourselves in a bind by shooting for the stars with that AAPL play. There are just soooooooo many opportunities out there but having little to no capital in this account limits us.

But all is not lost. We will work hard to get us back in the game. We have another $200 soon to be deposited and we now have to go with a few really low risk plays to build us up a bit.

I still have no doubts that we will achieve our yearly goals and we have to keep an eye on the bigger picture.

For those with a bit of capital, look at CELG, DE and WYNN for the bulls to push them up a bit more.

Also keep an eye on GS. I'm thinking we see a little retrace here maybe to the $135 area and then another push northward. I have a $180 target on them for the year so a little pullback would be another great opportunity....

The metals look week here for all you bears out there. GLD & SLV will probably suffer a bit over the next few weeks, imo. So take a few small bites in these areas and you may see a few coins drop into your lap.

Have a great weekend all.

[boca_bobby]

Well AAPL had a worm in it and wiped us out but we gotta keep working.

Took a shot with 4 FEB08 SLV $29.50/Puts @ $0.15.....

[boca_bobby]

AAPL getting taken out to the woodshed for basically meeting expectations or just slightly beating the street. Let's hope that we hold the $485 level or so. It gives us some time on our contracts to still make us a few coins.....

[boca_bobby]

We're out of capital but I really like

FEB16 NFLX $105/$115 Call Sread @ $2.65

[boca_bobby]

Bought 1 SINA $57.50/CALL @ $0.89. Expires on Friday

We have a shot @ $60+ over the next few days.... May be a triple..

[boca_bobby]

GOOG hits it big. Aftermarket pushes the PPS to over $735 from a close @ $702.87!

[boca_bobby]

1% gain on AAPL gets us to $505 for the day. Slow and steady rise into earnings....

[boca_bobby]

AAPL looks to be basing here on the 60min chart. We just gotta hold our water. Big day tomorrow....

[boca_bobby]

Hang onto your hats boys, AAPL to report on Wednesday. This is a make or break for our portfolio to start the year, imo.

http://biz.yahoo.com/research/earncal/a/aapl.html

[boca_bobby]

I kinda knew they wouldn't let AAPL close under $500 for the week. Well we've had an up and down week and I think I really need to reflect on some of these "quick" trades. I've done pretty poorly with them and it's my picks that have at least 2 weeks or more until expiration that we've done well with.

I'm really pretty confident that AAPL will close above $520 before our next position will expire. This will allow us to take full profits. We will either look like geniuses by tripling our money by months end or have to start all over again.

A Hero or a Goat! The story of my life. Have a great weekend folks

[boca_bobby]

And we're out of that AAPL trade @ $1.17. Indicators are near the top and I was really hoping to see a quick explosion thru $500. Instead we see a bit of a hesitation. It still may run but better to take a quick gain than a possible total waste....

[boca_bobby]

Took a shot an another AAPL Call that expired today.

Buy 1 AAPL $500/Call @ $1.03


Looking for a push to $503-$507 on the stock price.....

[boca_bobby]

Getting a late start today. AAPL looks to be in a bit of a tight range right now. Our 1 $510 Call that expires today may be a bust but I really feel good about our $515/$520 Call Spread that expires 2/1/13.

Might be done for the month.....

[nicehit]

Man BB I've been on the road so much missing some of your trades. I get your tweets just no access to PC.

[boca_bobby]

Not a word from folks about CVX? It ran to $115.86 to with our options pick going as high as $0.95!

http://finance.yahoo.com/q?s=CVX130119C00115000

Not bad for a call that was alerted when the $115/Calls were a mere $0.06. A $200 investment could've got ya over $3,000!!

I love the power of options....

[boca_bobby]

Holding our water here on AAPL. I probably had the worst timing on an entry on this one but that doesn't mean we still won't make a few coins. I've been watching the chart all day and I still feel pretty good.

Yesterday we saw that huge run up after what I am calling a completion of wave 5 of the daily chart. The one clear thing I see is that gap that may still have to be filled. We would have to go to $519 for that to happen.

Today's early action was loud and in your face. we were up in premarket but could't seem to break through and hold that $510 level. So the 1st half hour we saw profit takers take a little lunch money. But since then we've seen the bulls and bears dig in and have a battle royale.

With about 2 hours left in the day I look for the bulls to come out victorious and take us slightly higher to close the day around $512. This will probably be a great sign for tomorrow's action as I think the $520-$525 area will be hit!

Let's see how this plays out!

[boca_bobby]

Watching an interesting TA type of set up that I picked up in the Forex rooms. Waiting to see how it works with equities before I let the cat out of the bag. It might really help us with entries and exits for scalping these weekly options.....

[boca_bobby]

Tried another weekly with AAPL.

Buy 1 AAPL JAN19 $510/CALL @ $4.10

We bought right at the open and of course AAPL goes red first. We just gotta ride this one out, imo.....

[boca_bobby]

With 16 days of trading completed we have more than doubled our portfolio! But with 8 trades posted we only have 3 winners. This is a perfect example of the power of options accompanied with sound money management. Hope you guys are doing even better than me!!

The iBox has been updated. As a little side note, I've also started to post my trades as soon as I make them to Twitter. This may allow folks faster access to see my trades. But iHub is still the best place for a full analysis.

[boca_bobby]

Just a heads up folks but I will be looking to switch from TradeKing to Optionshouse for this speculative options account. The commission rate is a bit better and the platform has a much better feel to it.

If you fund the account with $5K or more your first 100 trades are free! So it's a race to $5K so we can switch! lol

[boca_bobby]

Anyone take a runner at CVX when alerted about 2 weeks ago?

Current Watchlist for the week of 1/7/13:


CVX JAN19 $115/CALLS @ $0.06

CF JAN19 $220/CALLS @ $0.94

DE JAN19 $90/CALLS @ $0.56

The current price of that CVX Call is about $0.18 or a 3 bagger. We still have 2 days till expiration. Another 1.2% move in the underlying stock gets you a 10 bagger!!!

Love the power of options!

[boca_bobby]

Well done! I had really hoped you held a bit longer to maybe get a few coins. Happy it worked out for ya

[sonny-888]

just sold my GS Jan 19 2013 140.0 Call Limit 1.50
thankyou

[boca_bobby]

Go GS go! Hope you guys were still holding. Looks like there's money to be made. I just wasn't willing to risk the gains we've made but those with a little more risk appetite are looking good now!

[sonny-888]

i see how it work now
thank you

[boca_bobby]

Got a PM about our GS contracts.

"Why would the contract price go down when the stock price went up by over $3 per share today on GS?"

Not sure if you know much about the "Greeks." They are measurements that help us with price and time decay. In the case of GS, it was the time decay factor known as theta.

We went with the weeklies for our GS play. It expires on Friday. So we really didn't have much time to get over the $140 strike price. We still have trading for the rest of today and Thursday and Friday.

I sold for a small loss only because I still wanted to keep our February goal still in tact. There is still a chance we move above the $140 strike price but I wasn't willing to risk waiting for it. When we take a trade we really need to do more than just buy a contract and think it will automatically go up if the stock price goes up. We should start with a simple formula.

(Strike Price) + (Contract Price) = Break even Price

I will use my buy for illustration purposes.

($140 Strike Price) + ($1.17 Contract Price) = $141.17

This means the underlying price of GS must reach $141.17 just for me to break even. Anything above that would be my profit. The very next thing we need to ask ourselves is very critical.

"Can GS get over $141.17 by expiration?"

As of this post the price of GS was $139.28. We would need another 1.4% by expiration. That doesn't seem like a whole lot but let's also remember the enemy of our contracts.

TIME!!

Theta will erode the contract price more and more as each minute of the clock ticks forward. If the stock price settles in here and trades sideways for just up slightly and then down slightly it really doesn't matter to "the theta monster." He will take his share.

Think of Theta as your local area loan shark that shows up every hour on the hour to get paid! That stock price better go up so you can pay that beast or he'll break your legs!

[boca_bobby]

I really am bullish on AAPL after I've seen a wave #5 completion on the daily chart. So I just took another AAPL trade but gave us a bit of time for it to develop.

Looking at the daily there is an obvious gap that should be filled. That target is $519. There is also a second gap located around $541. I went out to Feb for our next trade.

Buy 4 AAPL $515/$520 Call Spread @ $1.95.


It looks like a nice risk/reward type of trade and that's more in line of what we're trying to do here. I will update our iBox at the end of the day to reflect all the action.

Have a great one folks!

[boca_bobby]

Ok, enough of the weeklies for now. Our portfolio has doubled and we need to look for solid trades again so that we don't waste our good work so far.....

[boca_bobby]

Stooped out of Puts on AAPL. Looks like the bulls are taking over....

[boca_bobby]

Stopped out again..... Grrrrrrrrr

[boca_bobby]

Just took a few AAPL $490/Puts @ $3.10 for a quick trade....

[boca_bobby]

Total opposite of what the options calculator said we we open at. I just got stopped out of GS for a loss. The calculator called for a price if about $1.60. We sold @ $0.70.....

[boca_bobby]

Looks like GS hit it out of the park for earnings. Not sure where our contracts will be priced just yet as premarket has been all over the place but I do think we'll be showing a few more coins in our portfolio.

And after all, profit is profit!

Make it a good one folks