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ROFL! I've got a feeling you'll take her to the cleaners on that bet, Boca.
I was thinking after the close on Monday that the 1390 area might be were we bounce a bit. I'm still of the belief that this is all just posturing until the election results are known.
On a side note, I've been helping my wife a whole lot these past few weeks and it looks like we finally scored a job for her. It's another reason why I really haven't been able to trade like I want to. I just can't spend the time I want to spend. But now, I can probably do a bit more paper trading to get my mojo down and start real trading in Jan.
The wife and I have a little bet going down. I will get my mere $50/week for trading and she will put the majority of her pay into a savings account. We will see whose account is larger at the end of the year. I just don't think it's fair....... for her lmao
Gonna be a great 2013!
The more I look at the S&P chart Boca, the worse it gets. I backed out and took a closer look and I see where we not only broke down out of the larger channel since May but we've also broken a key support level based on that yellow trendline. Dropped past it, came back up to test it and the test failed to move above it.
Still looking like we might be setting up for a minor bounce but I wouldn't be surprised at 1390 first.
Well Boca, I went ahead and booked $815 profit for the day so I'm stopping now while I'm ahead...LOL! Still have a few trades running with longs on the EUR/AUD pair. Expecting that one to pay out nicely with about $1550 profit but could take a day or so for that to progress.
Stepping away from the screen now so I won't be tempted to chase...LOL!
Yep, hard to tell right now. I'm actually expecting more downside here for the time being. We're shorting the Yen crosses like EJ and AJ here. Long on pairs like EA to take advantage of the coming drop on the Australian dollar pairs.
EDIT: This still looks like Wave 4 pop inside a final C wave drop on the S&P for now.
What is the top of your wave 1? If we drop below that level then a whole new count should start. Usually this means trouble for us with a possible larger drop in store for the long term.
Your current wave #4 might actually be a bearish wave #1.
But the better scenario would be just a whole lot of A-B-C corrections taking place....
S&P Hourly Chart
Morning Boca! I'm all in cash again now after that nice pop on AU last night. Booked almost a grand profit yesterday. With all the news coming out today, I think I'm gonna sit on the sidelines and wait till the dust settles.
Here's what I'm watching on the S&P. Nice channel formed. A break above 1415 will seal the deal on a bull run. Can't rule out one more low coming though just below 1400 around 1390. If it does though, it'll probably be fast and furious and then bounce hard from there.
First image is S&P and second is news for the day. Red flags mean we sit on our hands in the currency market...LOL!
Bought a boatload of horses and bayonets CALLS at the close today. I sure hope Romney wins. Time to grab dat cash!!!
Lol! Sounds good Boca. Have a good one.
Taking the wife on a job interview. If she gets the job then that's like a huge winning trade..... lol
See Ya'll Later.....
I'm taking small positions right now. Just waiting it out.
Ya, I hear ya and agree with your overall wave counts. I'm of the belief this is a wave 4 but I think we are gonna be a bit choppy until the election results are revealed.
Then I think we see a very nice bull run with a crazy bull run if Romney wins. I tried to get cute yesterday and call a bottom by taking a few weekly calls. Just never a good idea and I know better. It's always wiser to get confirmation that the turn is in place and then jump on the wave.
Were just sitting on our hands here.....
S&P Daily Chart
Another possible wave count. We did penetrate the bottom trend line but Wave 4 activity can easily do that. I still expect a nice rally at some point in the near future which coincides with Boca's idea of a rally after the election no matter who wins.
Still targeting 1530 on the S&P overall.
Futures still had a bit of a dip left in em after all. Oh well, no biggie. Still a fifth wave completion no matter how you slice it. I still think we bounce on the market overall.
Forgot to mention, Boca...that pattern is invalidated if the S&P futures make a new low below where I have the head marked on the chart. But with the nice positive divergence we have going here, I think we're good to go to ride the gravy train at least through today and maybe part of tomorrow.
For the Elliott Wave enthusiasts out there, we've completed 5 waves down which should lead us to a minimum ABC retrace back up.
S&P Hourly Chart
Ready to pop the weasel again here Boca...market should move up nicely from these levels so I'm long on the risk pairs again. Had a nice short overnight that netted $560.
This pattern, by the way, isn't a standard inverted head and shoulders. It's a pattern that was made known by a guy named Kevin Lowry, a currency trader that uses no indicators whatsoever...only patterns and a fib retrace tool. I've found it to be a very powerful pattern as compared to the standard head and shoulders or IHS patterns that we're familiar with. Minimum target for this S&P futures chart is 1445.
Excellent strategy on your options trading and some nice gains there. I employ the same strategy...no more than 10% of the total equity in my account per trade. I also never have more than 3 total trades going at one time whether it be in one currency pair or in 3 different ones. Gotta be able to play another day in case it doesn't work out.
Stopped out at $0.48 for 30% loss......
We are gonna take a shot here with some SPY Calls.
Buy 4 Weekly SPY $144/Calls $0.69.....
Went thru my usual stocks. Just about all of them are "in the middle." This means we could break either way so we sit on our hands and watch. I really think as soon as the election is over we start another big bull run. And I think it really doesn't matter who wins for this next run to start.....
Just a note to my strategy as far as how much I risk per trade.
I try to use the 10% rule I created for myself. This rule is pretty simple as says I can only risk 10% of the total amount of cash on hand or $200 (whichever is higher) per trade. So as most of you can see from my trades over the past 45 days, I've held firm to about $200 per trade.
Currently my paper trading account which started at $2000 now has a cash balance of about $3,500 and we are holding that Jan13 $165/$170 GLD Call Spread. So my next trades will probably be risking about $300-$350 per trade.
I also try not to have more than 3 "short term" plays at any given time. Some folks can play way more than that but I find myself getting lost in the fray. So again, this is about knowing what your individual strengths and weaknesses are. Then accepting to restrict yourself to those qualities that may give you the best chance at success.
So we have about 2 more months to go before live trading will once again begin. It's getting tough to not just start trading again but I really want to finish what I started. The market isn't going anywhere......
Have a great weekend all
Scorecard Results thru 10/19/12
Here are the current results of our paper trading.
Long term: (total risked = $190)
2 Jan13 GLD $165/$170 Call Spread @ $0.95 (Currently @ $2.35)
If all positions were closed we would have $470.00
Short Term: (total risked = $0)
If all positions were closed we would have $0.00
Closed Positions: (total gained = $1,674.00)
Buy 3 Oct26 SPY $145/PUTS @ $0.64 (Spent $192) on 10/18/12
Sold 3 Oct26 SPY $143.50/Puts @ $0.96 (Collected $288) on 10/19/12
Sold 3 Oct26 SPY $145/$143.50 Put Spread @ $0.85 (Collected $255) on 10/19/12
Total Gained from this trade = $351.00
1 Oct AAPL $705/$710 Call Spread @ $1.75 (Expired Worthless lost $175.00)
2 Weekly AAPL $680/Calls @ $1.00 (Expired Worthless lost $200.00)
1 Weekly AAPL $660/$665 Call Spread @ $1.70 (Closed @ $2.20 gain $50) "quick trade today 10/2/12"
1 Weekly AAPL $690/$695 Call Spread @ $0.41 (Expired Worthless lost $41.00)
5 Weekly CAT $90/Calls @ $0.08 (Expired Worthless lost $40.00)
6 Weekly CAT $87.50/Puts @ $0.33 (Closed @ $1.50 gain $702.00)
2 Weekly SLB $75/Puts @ $1.10 (Closed @ $3.05 gain $390.00)
2 Oct PCLN $665/$670 Call Spread @ $0.50 (Closed @ $0.50 broke even)
4 Oct SBUX $52.50/$55 Call Spread @ $0.49 (Closed @ $0.22 lost $108.00)
5 Weekly NFLX $60/Calls @ $0.40 (Closed @ $0.30 lost $50.00)
5 Weekly BIDU $120/Calls @ $0.34 (Closed @ $0.15 lost $95.00) week ending 9/28
3 Oct GOOG $655/$650 Put Spread @ $0.60 (Closed @ $0.30 lost $90.00)
3 Sep ISRG $520/$525 Call Spread @ $0.70 (Closed @ $1.25 gain $165.00)
4 Weekly FFIV $110 Calls @ $0.45 (Closed @ $2.70 gain $900.00)
5 Weekly BIDU $125 Calls @ $0.20 (Closed @ $0.03 lost $85.00) week ending 9/21
Absolutely. I went ahead and pocketed about $300 more for the day on some quick in and out trades. All in cash now. Gonna just wait and see how the wave counts and chart patterns stack up at the beginning of the week before I dive in again.
Upon further review, let's just take our money and run.
Sell the 3 Oct26 SPY $145/$143.50 Put Spread @ $0.85.
Better to sell now before the indecision of the weekend sets in! lol
Down goes SPY! Down goes SPY!
Just for all you sports fans out there..... lol
You still holding the GOOG Puts?
GOOG being take'n to the wood shed today!
Ok folks, the SPY is dropping off the table and I don't want to see profits slip away so we locked it in here.
We sold Oct26 SPY $143.50/Puts @ $0.96
This creates a $145/$143.50 Put Spread overall.
But since we originally bought the $145 Put @ $0.64 which took money out of our account, we now sell those $143.50 and put the money back into the account with a little profit to boot.
We already made 50% on the trade and can sit back and watch to see if the SPY closes below $143.50. If this happens we stand to collect another $1.50 per contract. Of course we could always just sell the spread at any time and it's all profit!
Our SPY Puts are over a double now and working on a triple. I might lock in some profits here with a little creative trading.....
And thank you GOOG for putting the smack down on this market!! Grabbed your puts just in time!!
Should pay out nicely.
Yep we grabbed a few just for fun
Buy 3 Oct26 SPY $145/PUTS @ $0.64.....
Sweet! Go get em, Boca. I expect a retrace from that 1460 level for sure.
Looks like the SPY is ready to come back and test that MA(50) right around $143.
Next week's Puts have the $145's priced around $0.65.....Hmmmm
It's been a hectic 2 weeks for me so I really haven't watched as closely as I usually do. But yes this rise could have been sent with smoke signals and could have been forecasted by Helen Keller. lol
But I think we may be range bound also until the results of the election are known. The funny thing is I see a big bull run coming after that no matter who wins......
Hey Boca! Nice move up on the S&P so far as expected. Probably time to take some profit off the table for anyone who jumped in.
Looks like a minor fifth wave completion here so I'd be looking for a pullback soon to set up for another leg north later...probably gonna come back down into the 1420's again from this low to mid 1450's range.
Been an extremely busy week. I'm just getting home now so not sure if I'll have a watchlist in time for this week......
But we'll work some trades in I'm sure.....
Yep, AAPL is bound to making some folks tons of money with the options for sure. Too rich for my blood on the shares but the options are probably nice. Haven't looked at em in ages though.
For the sake of my longs on my currency trades, I hope I'm right on the count...LOL!
Very nice count. It's refreshing to chat with another chartist that uses more than just RSI, MACD, Full Sto, etc.
Nice little channel has shaped up and I like to see for confirmation that the bottom trend line holds. I'd much rather jump in after the worm turns than follow him into the hole..... lol
I've out for a few months so I'm just paper trading right now. I've been having a ball with AAPL today!
S&P 4 Hour Chart
Hey Boca. Here's the S&P chart I'm looking at. This is where I'm getting my 1530 target on the S&P from.
Thought this might help for your options trades. It'll be risk on for a while at least through the election if this chart holds up. I expect a nice bounce from these levels.
I'd say the call options are gonna pay off very nicely over the next couple of weeks at least.
4 Hour Chart first and then the zoomed in 30 minute chart showing the correction wave count which will lead us to a nice 5th wave up. Note that the overall 3 wave correction we're in now is similar to what happened last time for the Wave 2 pullback.
LOL! Yep, pips, options or stocks, it's all about da green.
I still visit penny boards just for grins and giggles every now and then. I never post on any of them though. Seems like it was 100 years ago I was trading those things...LOL!
I've tried em all pretty much but currency just seemed to click with me. It's definitely taken my charting skills to a whole new level. I'm a lot closer now to a pure price action trader instead of relying on a ton of indicators like I used to. Less is more.
Sure is good to talk to you again. I'll swing by and visit with ya more often.
The one thing we do have in common on both sides is the market, especially the S&P. I use it to help with risk on currency pairs. I'm looking for a possible move on the S&P to as high as 1530 if the current Elliott Wave count holds. Could get interesting.
Have a good one!
Wow! Now there's a blast from the past. lol
Really good to hear from ya. I knew your were still doing the Forex stuff because I would take a peek over on Simple's board. I just couldn't seem to catch a nice wave in my repeated attempts to trade currency so I just went back to what works for me. Both types of trading seem to be profitable so that's all that really matters.
iHub sure has changed, huh? Real traders have all seemed to convert pinky stocks to options or forex. Then there are the diehard penny traders that all seem to be promoters now. I've tried to stay low key and post mostly just on this board. But I visit and read so many boards it's just crazy.
Well buddy, I see we both still just try to "Grab dat cash!" hahaha
Yo Bobby! Whassup dude!
Got to thinking about you this morning and looking back at all the fun days on the charting board and trading together we did. Hope things are going well for you.
I'm still a die hard currency trader now...I'm a Convert...LOL!
Drop me a line later if you get a chance. I see you're still playing the options hard and heavy...good money there for sure and looks like you're doing well with it.
Have a good one!
Scorecard Results thru 10/7/12
Here are the current results of our paper trading.
Long term: (total risked = $365)
2 Jan13 GLD $165/$170 Call Spread @ $0.95 (Currently @ $2.95)
1 Oct AAPL $705/$710 Call Spread @ $1.75 (Currently @ $0.39)
If all positions were closed we would have $629.00
Short Term: (total risked = $0)
If all positions were closed we would have $0.00
Closed Positions: (total gained = $1,498.00)
2 Weekly AAPL $680/Calls @ $1.00 (Expired Worthless lost $200.00)
1 Weekly AAPL $660/$665 Call Spread @ $1.70 (Closed @ $2.20 gain $50) "quick trade today 10/2/12"
1 Weekly AAPL $690/$695 Call Spread @ $0.41 (Expired Worthless lost $41.00)
5 Weekly CAT $90/Calls @ $0.08 (Expired Worthless lost $40.00)
6 Weekly CAT $87.50/Puts @ $0.33 (Closed @ $1.50 gain $702.00)
2 Weekly SLB $75/Puts @ $1.10 (Closed @ $3.05 gain $390.00)
2 Oct PCLN $665/$670 Call Spread @ $0.50 (Closed @ $0.50 broke even)
4 Oct SBUX $52.50/$55 Call Spread @ $0.49 (Closed @ $0.22 lost $108.00)
5 Weekly NFLX $60/Calls @ $0.40 (Closed @ $0.30 lost $50.00)
5 Weekly BIDU $120/Calls @ $0.34 (Closed @ $0.15 lost $95.00) week ending 9/28
3 Oct GOOG $655/$650 Put Spread @ $0.60 (Closed @ $0.30 lost $90.00)
3 Sep ISRG $520/$525 Call Spread @ $0.70 (Closed @ $1.25 gain $165.00)
4 Weekly FFIV $110 Calls @ $0.45 (Closed @ $2.70 gain $900.00)
5 Weekly BIDU $125 Calls @ $0.20 (Closed @ $0.03 lost $85.00) week ending 9/21
Watchlist for 10/7/12:
Bullish:
SINA NOV $70/$75 Call Spread @ $0.41
Spinning top on Friday, look for a close above $63.40 for confirmation
HAL OCT20 $34/Call @ $0.55
Look for the MA(200) @ $33.27 to hold support for an entry.
FCX OCT20 $41/Call @ $0.63
Momo has turned in the Bulls favor.
TCK OCT20 $32/$33 Call Spread @ $0.15
Looks like a bottom has been set. Very low risk play here!
Bearish:
AAPL OCT20 $620/$615 Put Spread @ $0.91
A close below the MA(50) on Friday looks like a bigger pullback is in order....
CMG Weekly $270/$260 Put Spread @ $1.25
The trend is our friend here!
Although I am bearish on the markets the Energy and Precious Metals seem to be where the herd is going. I'd like to stay with the crowd and not reinvent the wheel. Make it a great week folks!
Started to look at a few charts this afternoon. I'm getting that bearish feeling overall. We'll have some options on a watchlist coming later......
I've been there buddy. I created so many "custom" scans over the years. I would then come up with the same thing you have discovered. I had hundreds of stocks in which I just "knew" were ready to pop.
Then the next day came and all my work was basically useless because I was rarely able to hook up with the best play. This didn't mean I didn't make money but it did mean I was usually late to the party on many of the best plays.
Try this:
Create several "sector" watchlist.
Then add your fav's to that list.
Then create a "master list" of stocks you watch.
This master list is the one you watch most often during the trading day. These stocks also will sta on your list for months if not years at a time.
You will become so familiar with these stocks that you will learn with one are really nice option plays and witch one are just not as volatile. This is when you can dump some and add others.
At least that's what I do....
And at the end of the day it's all about making cash. It's fun to hear about those 10 baggers out there but chasing them is usually not the best way for most of us mortals......
You're doing great my friend. Just stay the course.....
Ok....well after reading you post and thinking about it and then reading your post again and thinking about it some more and then repeat one more time I have come to the conclusion that you are absolutly right!!
I look at around 250 - 350 charts a night....Some times I wake up in the morning and can't even remember which stocks I was hot on the night before as they blend from night to night from time to time.
Tonight I started to compile my list of 30 stocks that I will get to know better than my right hand...=)!!
High fliers and ones that have big moves from time to time. I am going to dedicate the next 6 months to only playing weeklies on these stocks. I may play some monthlies on other setups I like but will focus most of my time and energy into these 30.
BTW....I have never heard you talk about paper trading before =)..LOL
Thanks again for your advice Bobby. I always appreciate it.
I have been reading your posts. You are doing exactly what most folks do when first getting into technical analysis. You are ASSUMING that all charts will react the same way when certain factors line up.
I did the same thing for years! When I saw the RSI, Full Stochastics, MACD, huge volume, etc., I thought for sure I JUST KNEW what was going to happen. This was not always the case. That's why I now laugh at the notion of being like a machine or robot with zero emotions when trading. Just not possible folks.
There is a certain "art" to this chart reading. It takes a certain feeling to know when to pull the trigger. So......... how do we get to the next level?
Well, for me, I've talked about it just recently. Try to condense your universe. Ummmmm, what? Well, is there a reason your "watchlists" for the past month may have over 1000 stocks? (I'm exaggerating, lol) How is it humanly possible for anyone to have a good grasp of the trading of 1000 stocks?
Last week I mentioned that I have about 25 stocks that I really concentrate on. This is so I can really learn the "trading behavior" of those stocks. When I get a good feeling for those stocks, how much better will my technical analysis work out? I feel I've enhanced my chances at success.
Now with that said, what's your plan of attack? If we just throw money at our positions with no real plan, what should we expect? I talked about money management over and over again. Is it because I love to post hundreds of times to read my own writing? It's all part of the plan.
Listen Musky, I'm really glad you posted what you did. You are willing to leave yourself open for criticism in order to really learn what you need to do to make money. Too many folks on iHub are all about trying to get "atta boys" and a pat on the virtual back. I can't tell ya how many folks PM me and say they have membermarked me and would I kindly return the favor..... It's all B.S.
As far as Jimmy and UPB goes, they have the gift. but look closely my friend. They do a lot of what I am talking about.
How long has Jimmy or UPB told us about SODA, LNKD, PCLN, NFLX etc? Are there no other great stocks out there? He talks about a certain 20-30 stocks this whole year. Then he plays them over and over.
They also go into these plays with a very distinct plan. Read their analysis. They practically tell you what they are looking at and why they feel the way they do. I'll tell ya, most folks don't read that stuff, they just blindly try to follow their picks.
They say well, Jimmy got in, I better get in as well. Then throw way more money at it then they can afford. When it doesn't work out, they just blame Jimmy or UPB. God gave us a brain for a reason but I guess for these folks, it's easier to blame others.
Lastly, did I ever mention about paper trading? Take some of these concepts and strategies and work them out on paper first. I guess I must be foolish to want to paper trade until Jan of 2013.....
You can do this buddy! Work the plan and plan to work......
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Assistants |
![]() | HOW DO YOU MEASURE UP AGAINST THE 3 MAJORS?
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MONTH | DEPOSITED | ADD PREVIOUS MONTH | SUB TOTAL | % GAINED | $ GAINED | $ TOTAL | DATE ACHIEVED |
JANUARY | $200.00* | $500.00** | $700.00 | 20% | $140.00 | $840.00 | 1/10/2013 |
FEBRUARY | $200.00* | $840.00 | $1,040.00 | 20% | $208.00 | $1248.00 | 1/15/2013 |
MARCH | $200.00* | $1248.00 | $1,448.00 | 20% | $289.60 | $1,737.60 | |
APRIL | $200.00* | $1,737.60 | $1,937.60 | 20% | $387.52 | $2,325.12 | |
MAY | $200.00* | $2,325.12 | $2,525.12 | 20% | $505.02 | $3,030.14 | |
JUNE | $200.00* | $3,030.14 | $3,230.14 | 20% | $646.03 | $3,876.17 | |
JULY | $200.00* | $3,876.17 | $4,076.17 | 20% | $815.23 | $4,891.41 | |
AUGUST | $200.00* | $4,891.41 | $5,091.41 | 20% | $1,018.28 | $6,109.69 | |
SEPTEMBER | $200.00* | $6,109.69 | $6,309.69 | 20% | $1,261.94 | $7,571.63 | |
OCTOBER | $200.00* | $7,571.63 | $7,771.63 | 20% | $1,554.33 | $9,325.95 | |
NOVEMBER | $200.00* | $9,325.95 | $9,525.95 | 20% | $1,905.19 | $11,431.14 | |
DECEMBER | $200.00* | $11,431.14 | $11,631.14 | 20% | $2,326.23 | $13,957.37 |
*The account will have $200 added to the portfolio each month for a total of $2,400
** The account was funded with $500 to start trading.
(Note: The following webinars work best using Internet Explorer as your web browser)
BOCA_BOBBY......
DEPOSITS MADE FOR THE $50/WEEK PORTFOLIO
DATE | AMOUNT | TOTAL TO DATE | DATE | AMOUNT | TOTAL TO DATE | DATE | AMOUNT | TOTAL TO DATE | ||
12/27/2012 | $500 | $500 | ||||||||
01/01/2013 | $200 | $700 | ||||||||
DATE | 1/16/13 |
CASH | $558.56 |
HOLDINGS | $1020.00 |
TOTAL | $1578.56 |
*Total Value is figured by taking the value of all holding at the end of the trading day and adding it to the cash on hand.
LATEST TRADES FOR THE $50/WEEK PORTFOLIO
TRADE # | DATE IN | SYMBOL | STRIKE | EXPIRE MONTH | TYPE | CONTRACTS | PRICE IN | COMMISH | PRICE OUT | COMMISH | CAPITAL IN | CAPITAL OUT | % GAIN / LOSS | NOTES: |
1 | 01/02/13 | GS | $135 | FEB16 | CALL | 2 | $3.35 | $6.25 | $5.475 | $1.44 | $676.31 | $1,093.56 | 60.2% | Basic Spread |
01/02/13 | GS | $140 | FEB16 | CALL | -2 | $1.79 | $1.30 | $2.875 | $6.33 | - $356.62 | -$581.33 | |||
2 | 1/7/13 | GS | $135 | JAN19 | CALL | 2 | $0.86 | $6.32 | $2.03 | $6.34 | $178.32 | $399.66 | 124.1% | Weekly Contracts |
3 | 1/11/13 | DE | $92.50 | JAN19 | CALL | 20 | $0.15 | $18.70 | $0.13 | $18.78 | $318.70 | $241.22 | - 24.31% | Price action disappeared so well sell for a small loss. |
4 | 1/14/13 | LNKD | $120 | JAN19 | CALL | 2 | $1.285 | $6.33 | $96.00 | $6.37 | $263.33 | $185.63 | - 29.51% | Stopped Out |
5 | 1/14/13 | GOOG | $720 | JAN19 | PUT | 2 | $3.62 | $6.32 | $7.60 | $6.37 | $730.32 | $1,513.63 | 107.3% | $700 is a short term target |
6 | 1/15/13 | SODA | $50 | JAN19 | CALL | 2 | $1.10 | $6.32 | $0.71 | $6.34 | $226.32 | $135.66 | - 40.1% | Hope to see a SP of $52 or higher by weeks end. STOPPED OUT. |
7 | 1/15/13 | GS | $140 | JAN19 | CALL | 4 | $1.17 | $7.70 | $0.70 | $7.72 | $475.70 | $272.28 | - 42.8% | Earnings Play. We need patience. This play was closed way to early and turned out a winner! |
8 | 1/16/13 | AAPL | $490 | JAN19 | PUT | 2 | $3.10 | $6.32 | $2.67 | $6.35 | $626.32 | $527.65 | - 15.8% | Tried to get cute and paid for it!! |
9 | 1/16/13 | AAPL | $515 | FEB01 | CALL | 4 | $16.69 | $7.71 | $6,683.71 | Back to a basic spread to help reduce risk! | ||||
1/16/13 | AAPL | $520 | FEB01 | CALL | -4 | $14.74 | $2.92 | - $5,893.08 | ||||||
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TRADE | DATE IN | SYM | Strike | Expire Month | Type | Contracts/Shares | Price In | Commish | Price Out | Commish | CAPITAL IN | CAPITAL OUT | % GAIN/LOSS | NOTES: |
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PERSONAL CHALLENGE PERFORMANCE BY THE NUMBERS:
STARTING CAPITAL $500 (2012) | JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |
MONTHLY DEPOSITS | $200.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
MONTH ENDING CAPITAL | $0.00 | X | X | X | X | X | X | X | X | X | X | X |
Monthly $ Gain | $0.00 | X | X | X | X | X | X | X | X | X | X | X |
Yearly $ Gain | $0.00 | X | X | X | X | X | X | X | X | X | X | X |
Monthly % Gain | 0% | X | X | X | X | X | X | X | X | X | X | X |
Yearly % Gain | 0% | X | X | X | X | X | X | X | X | X | X | X |
Butterfly Plays on Hold
THE GREEKS
The Greeks are a collection of statistical values (expressed as percentages) that give the investor a better overall view of how a stock has been performing. These statistical values can be helpful in deciding what options strategies are best to use. The investor should remember that statistics show trends based on past performance. It is not guaranteed that the future performance of the stock will behave according to the historical numbers. These trends can change drastically based on new stock performance.
Delta:
The Delta is a measure of the relationship between an option price and the underlying stock price. For a call option, a Delta of .50 means a half-point rise in premium for every dollar that the stock goes up. For a put option contract, the premium rises as stock prices fall. As options near expiration, in the money contracts approach a Delta of 1.
In this example the delta for stock XYZ is 0.50. As the price of the stock changes by $2.00 the price of the options will change by 50 cents for every dollar. Therefore the price of the options will change by (.50 x 2) = 1.00. The call options will have their price increased by $1.00 and the put options will have their price decreased by $1.00. The Delta is not a fixed percentage. Changes in price of stock and time to expiration will have an effect on the delta value.
Gamma:
Sensitivity of Delta to unit change in the underlying. Gamma indicates an absolute change in delta. For example, a Gamma change of 0.150 indicates the delta will increase by 0.150 if the underlying price increases or decreases by 1.0. Results may not be exact due to rounding.
Theta:
Sensitivity of option value to change in time. Theta indicates an absolute change in the option value for a 'one unit' reduction in time to expiration.
Vega (kappa, omega, tau):
Sensitivity of option value to change in volatility. Vega indicates an absolute change in option value for a one percent change in volatility. For example, a Vega of .090 indicates an absolute change in the option's theoretical value will increase by .090 if the volatility percentage is increased by 1.0 or decreased by .090 if the volatility percentage is decreased by 1.0. Results may not be exact due to rounding.
Rho:
Sensitivity of option value to change in interest rate. Rho indicates the absolute change in option value for a one percent change in the interest rate. For example, a Rho of .060 indicates the option's theoretical value will increase by .060 if the interest rate is decreased by 1.0. Results may not be exact due to rounding.
Disclaimer: All posts on this board are to be taken as the opinion of the poster. In no way is the information posted to be taken as investment advice or to be taken as the final word as to buy or sell any stock, option, bond, currency, etc. Posters on this board are not to be considered advisors in any way and all due caution should be taken when making financial decisions based on information conveyed in this forum. As with any investment decision, we would encourage everyone to do their very own due diligence and/or get the advice from a licensed professional for such advice. All the risks associated with any investor willing to buy or sell any stock, option, bond, currency, etc. because of information revealed here in this forum are solely on the individual making the investment and not on the poster of this message board.
Boca_Bobby Chartsletter Off Line for now.
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