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Yes, I bought them when QQQQ hit resistence @ 43.60
Also sold some calls at that time but only for .05 gain.
I'll be glad to have you back trading :)
FEB 44 Puts @ 1.15
FEB 44 Puts @ 1.15
Ken, LOL, actually no I should have stayed with my position. When you have Puts you make money when the stock goes down.
Here is the book that got me started with options:
http://www.amazon.com/o/ASIN/0471707120/ref=s9_asin_title/002-4712939-7368836
I would suggest getting a used copy. It will be the best ten bucks you have spent. It will give you a good overview of options. There are a couple of criteria dealing with delta and time value that you will need to know. I will be happy to share from my failures and successes when you are ready.
I always look forward to your new uses of indicators. The one you have recently been testing sounds like it would be particularly lucrative with Puts....especially because when stocks go down, they go down faster than when they go up. LOL and I always feel like I'm cheating the market when I make money as the stock falls.
The ideal setup would be the ability to screen for stocks entering Quicksand (Puts) and Pre Gold Rush (Calls).
Thanks for all you do to help the rest of us.
Out of may QQQQ Puts for 15%.... could have had much larger gain, but my $1.35 order from yesterday was still in. saw those same puts going for $1.55 today.
Cats I received your PM. I will email you tonight. Leaving to take my daughter over to Grandma's for some Christmas baking.
Merry Christmas All
Out of my Feb 44 Puts for 15%. Could have gotten a lot more, but had a GTC order in that I didn't realize. Still holding my much underwater Feb calls. But have time to see what January brings.
All in all, happy with my trading lately. Had a once in a lifetime gain this week. Had calls in ESCL @ .65 cents. The stock came out with good news and lots of shorts. Ended up selling the calls between $5.80 - $7.00. Just amazing.
God is good and I am blessed with knowing Jesus, great family, and good health.
Merry Christmas!
I also trade options in my IRA at Optionsxpress. Same as Fast Eddie has described.
Ken, thanks for the outlook on ESCL. It is good to know it is getting out of quicksand.....but I have to confess that I sold the last of my calls today @ $6.20. There was no way I was going to look a gift horse in the mouth
My calls were for January and I like to take a profit when I have in on front month options. I can get back in with longer term calls if ESCL continues into gold rush.
I would be happy to help anyone with options. I am by no means an expert. I have just found that the gain is so much greater percentage wise, there is no sense in buying the stock. Ken, you showed me what compounding can do! Here is an actual example from today on the QQQQ.
I bought Feb 44 Puts @ $1.13 (which means I think the QQQQ were going down) The QQQQ closed down .31 cents. These Feb 44 Puts closed at $1.30 x 1.35. I had a sell order in at $1.35, so it didn't fill. But still, from 1.13 to 1.30 is 15 percent in one day.
Now if you get into one of your stocks near a magic box entry with a call option and it run seasonally, you could potentially make 100% - or more by holding on to the call until either a) the chart told you to sell or b) your option was ready to expire.
I know you don't hear from me much, but I scan through the board almost every night after work. There are many good people who help others on this board. Kudos to you all. Please feel free to ask me any questions.
ESCL: yes, another source alerted me about ESCL last week. I bought Jan 5 calls for .65 and I was sweating being under water so much on Monday. What a lift off!! Sold some calls today from $5.80 - $7.00. Just amazing!
You may be right Blasher, but I think the CPI numbers gave the market a green light for the Santa Claus Rally it has been wanting. I could be screwed too. Bought FEB 45 calls @ $1.20
The best to both of us
Well my plan didn't work too good. I got filled on my Puts (ofcourse) but not on my calls. Holding my Puts (FEB 44) and buying calls in the morning.
I also tried to buy puts today, but my bid did not get hit. Not sure which way this is going to break out of the flag. So my plan is to buy 1/2 calls and 1/2 puts in the morning.....then cut my loss which ever way it goes if a direction appears OR we may just continue to chop - chop, in which case I'll set a GTC to take small profits in both directions.
12/6 Okay I should have sold yesterday. Out of my Jan calls this morning @ $1.22 for 16%. That makes 22% for the week. Now in cash.
Blasher good call on the Puts yesterday. That would have been a good position to be in going into today.
All the best on your trade.
Swing Trade Update:
RSI now at 80.
Hmmm, what to do? I'll decide in the morning.
12/5 JAN 44 calls $1.30 x $1.35
12/4 added to my JAN 44 Calls
Holding with a $1.10 cost basis
price at close $1.25 x $1.30
Swing Trade Update:
12/4 Out of my Puts this morning with 5%
12/4 added to my JAN 44 Calls
Holding with a $1.10 cost basis
price at close $1.25 x $1.30
I think we may have a little bit more to go Blasher. RSI has been topping out at 90 and it's not there yet. Time will tell.
12/1 Trade:
Chart was unclear this morning so I played both sides.
12/1 MAR 45Put $1.90 at close $2.00 x $2.10
Looks like it went to $2.35 at the low today. That would have been a sweet 1 day play. I'll probably sell at open Monday.
12/1 JAN 44 Call $1.15 at close .95 x $1.05
I'll probably add to position Monday.
Swing Trade Update:
Blasher I will consider your method of buying shorter term options. You are right that a greater percentage can be made in a shorter time frame. But the flip side is also true. Remember I am not able to trade intraday, so I don't have the advantage of bailing if it turns against me like you do.
I like your 10%/week dream, i'm sure you will achieve it.
12/1 Call position stopped out $2.50 for 11%
11/30 JAN 42 call $2.60 x $2.70
Raised stop to $2.50
11/29 JAN 42 call $2.60 x $2.70
Raised stop to $2.40
11/28 JAN 42 call $2.25
stop limit 2.00
Swing Trade Update:
Thanks for the encouragement Blasher. You are doing awesome.
I expect for my stop to be hit Friday.
11/30 JAN 42 call $2.60 x $2.70
Raised stop to $2.50
11/29 JAN 42 call $2.60 x $2.70
Raised stop to $2.40
11/28 JAN 42 call $2.25
stop limit 2.00
I agree with Husk. I would much rather just get an email from you guys.
Swing Trade update:
11/29 JAN 42 call $2.60 x $2.70
Raised stop to $2.40
11/28 JAN 42 call $2.25
stop limit 2.00
Blasher,
I hope you don't mind if track swing trades on the QQQQ. I want to see how well the RSI 2 works.
11/28 JAN 42 call $2.25
stop limit 2.00
S2
Do you have a new signal on the Q's?
blasher,
I hope the trade works out for you. I'm a little leary of trading Nov options with expiration so close.
Yes, I received your email. I think I would prefer to just trade one stock up and down like you are doing with the Qs. But I do not have the luxury of day trading. If you come up with a reliable method to swing trade the Qs please let me know.
All the best,
blasher,
Are you holding over the weekend, or taking the loss?
alanrs,
Since we can't see the chart the author is speaking of, can you tell us what the setting is on the Aroon?
Thanks
stockholygrail
okay here's a weekly
stockholygrail,
Here is a chart with questions. I hope you don't mind, but I am a visual learner and need to be able to see what your saying. Thank you.
stockholygrail,
Do you have system for those of us who can't watch intra day?
Thank you,
Ken,
How does LF look for a Christmas play?
Thanks
stockholygrail,
Will you post a chart showing what you mean using the RSI 2 on a daily or weekly of the QQQQ?
Thanks
CAD - A while back you said you were working on something to trade the Qs. Did you come up with something?
Thanks
Ken,
Will you put this Sector chart and EFTs in the board info section?
Thanks
Ken,
Are you saying the higher the crosssover, the more powerful the move?
Ken,
But remember, you can also buy PUTS if the stock is in Quicksand.
For example, one could have bought the QQQQ Sept 38 Put Tuesday afternoon for .40 and sold them today for .60.
The stock was down approx 1.7% from it's high today; but the option gained 50%. Ofcourse the risk in this case is the time value with the expiration being so close.
I bought this same Put last week except with a Jan 2008 expiration for 3.00. I sold it today for 3.20; which gave me approx 7% with very little risk. I had a lot of time for the stock to move down.
Keep up the good work!
Well I have to give you two words.
Ishmael & Issac
PS -
I listened to your target and sold my calls there (37.20) that I bought yesterday.
Thanks :)
Ken,
Will the AUG seasonals be on the site soon?
Aug just a few days away :)
Gleno,
LOL, yes you're right!
Okay Gloe,
I see what I did wrong. Thanks!
And good job this afternoon in Woodie's room. I was rooting for ya!
Poker or Anyone
How do I keep from overpaying for calls/puts? I bought Sept 37 calls last week when the Qs were about 36.22 for 1.05. Even at today's high around 36.70 they were 1.00 x 1.05.
How can the Q be up almost .50 from where I bought the calls, but they are barely even?
Thanks