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That makes sense WB:
I guess hedging so far out is a little redundant. It's almost like you're hedging against being wrong TWICE, right?
Now that I think about it, it doesn't make as much sense as it did when I dreamed it up. Thanks for the info.
I posted a chart for CRM yesterday, was wondering what you thought. Thanks again.
Sorry Wonderbuy:
I didn't understand the question you were asking me in your reply. I would like to understand any potential mistakes because straddle/strangle plays are something that I've just started messing around with.
CRM in the crosshairs:
Good- Accelerating volume, MACD crossover at 0, Possible trendline break at $57.50ish
Bad- Right at the highs.
It's tested a couple times. With the accelerating volume, I think a break and uptick is in the offing. Short-term strangle play might be advisible as well.
Question from the testicularly-challenged.
What about the April 35c/20p as a strangle play Wonderbuy?
I'll lend my voice to the brutality.
I'm still in a slew of mediocre longs (too many to count) that still have months until expiration. Got lucky scoring both ways on a DSX straddle from early in the week, and sold a CSCO put position at a decent profit. Otherwise, I have a pathetic DSX long position and a bunch of so-so plays.
By the way, I haven't day-traded expiring options before, but I have been interested. Any advice on picking the right contracts for the job?
Game: Oh, I read your post wrong.
I see it now. Well, at least you got my honest opinion without merely bandwagon optimism right??lol
I always get my investment message boards sites mixed up with my dating sites. That and porn!!lol
Dangerous waters with GME:
This viewpoint could change with additional info, but GME looks to be starting a bearish TREND, not just a retracement. Look for lower lows and lower highs down the road short to mid-term. And frankly, even from a fundamental/news perspective, I think this whole segment of retail's going to be in trouble going forward from here longer term. Brick and Mortal Video game stores aren't going to get more popular, only less IMO.
Matador: I don't "rely" on fibs for entry points. But I do keep track and when I see a solid pattern w/a fib retracement, I will jump. That being said, I've traded more using trendline breaks of late.
Opinion of the day: FNM
Was there a better looking put play chart-wise than FNM between 10/15-10/20? UUUUUUUUUUGLY!!
For what it's worth, I wouldn't bank on a bottom. Stay out of the way of that train...
Also, buying LDK puts at the open (Mar 15s)
I agree with you Lang about C vs. WFC.
I like it, just not as much as Citigroup.
That being said, I'm not getting too excited about financials overall.
Expect some selling into the rally today. I think the market will bump just enough to convince minnows like me to jump back in on the long side. I agree with Wonderbuy, 12,750ish is in our future.
DNDN 2 cents...
The prospect of strangling this stock and then getting caught in a trading range where neither side profits scares me.
By the way Wonderbuy, is it time to go long MER finally? At least for a short-term bump on news of a new CEO?
I sure hope you're right WB
I finally got short DSX so I'd like to cash in on my puts then hopefully my calls will profit at some point.
Straddled C as well this morning (Jan 20p/45c)
Straddle alert: GRS
Thinking about playing against some speculated downside in gold in the short-term.
I feel your pain Lang...
Another stock I was already long and totally should've hedged with some puts: EXM!! If I would've shorted the chart breakdown, I would've realized a net profit. Same thing with DSX....ugly, ugly charts!! Why I sat on the sidelines, I'll never know!!lol
A question Wonderbuy:
You ever "climb the ladder" on a stock? For example, you bought calls at a certain strike, sell them at a profit, then buy back in at a higher strike price, typically with the same capital investment?
There might be another name for it but I'm not that smart??lol The reason I'm asking is I've been doing this with CSCO. I'm down the calls but I've traded puts a couple times at nearly 100%. From my arithmetic, I'm at a net profit. Is this something you've done or want to do or otherwise think it's stupid!!lol
How about those GOOG and AAPL puts??
Sure wish I would've actually bought the puts that I suggested!!lol
Check post#9782 Wonderbuy:
I was actually wondering your thoughts about that chart.
Wow, that is a nice profit
I had the CSCO 32.5C/35P contracts. Riding the calls out and took 135% from the puts already. Frankly, I hit the puts quick because I didn't think the drop-off would be this bad!!
Whoops WB, I was talking about TD PUTS!!
Jan 55 puts is what I meant...
Did everybody have a date??
Dang, I feel a little like a loser...lol
Anybody notice TD today??
Up 270% from yesterday. Up over 100% from the open today. Still plenty of downside left..
HELLOOOOO Bear Market!!!
FXI is an unmitigated AVOID right now.
Chart doesn't even look crappy enough for a short, with a huge MACD divergence. Without a fully-functioning crystal ball, I would stay away.
Another future Financials casualty
TD
Canadian bank primed to share in the misery.
Across the board bearish. A more-prudent strategy might be to wait for a trendline break at around 70.25. But for the more aggressive, I think it's good to know. The fact it's in the financials sector is only another incentive. I know it's in Canada but let's face it, Canada isn't as "global" or "non-U.S. financial" as one might think...
Watchlist info
HOC I'm already long this sucker but the chart's breaking down and a short-term (hopefully) short scalp is in the offing.
CSCO straddle paying off.
Especially with a longer-term bullish outlook, my puts have already paid off, now I'll hold on for the calls to do the same.
The time to short GOOG and AAPL is fast approaching I think. Frankly, I've seeing MANY more charts where the puts look better than the calls.
TSL didn't treat me too good either..
But that doesn't mean I wouldn't dip again. I like LDK also
Financials woes...
Is now a good time to lament my missed opportunities in Merrill Lynch and Citigroup. Heck, the bad news has been coming in about MER for who knows how long. And on the sideline I continue to sit.
WB: CSCO info
I'm already in the Jan 32.5 Calls/35 Puts, bought at the open today. Really, the AH tanking was the best of all scenarios, beings I think longer-term CSCO looks pretty good. Thinking of making a quick hit on the puts tomorrow and ride the calls for awhile yet.
Also, bought some TSL March 85 calls at as well, wondered what your thoughts were about that as well. Held up pretty good today, especially AH.
At least my CSCO straddle looks good...
WB: I enjoyed your "Long Straddle play" post from yesterday the best. Am actually thinking of doing that with slightly in-the-money puts and calls (32.5 calls-35 puts) for CSCO.
langui: I hate to say it, but I agree with you.
EXM's chart has flat-out broken-down. DSX looks plenty weak as well. The only dry-bulk shipping chart that looks remotely decent is DRYS. I'd love to get a last-gasp upturn this week or next and just sellout at a reasonable loss-point.
What happened to the bulk dry shippers?
You're shorting DSX wonderbuy? Shucks, I'm sorry to say I'm already long and holding. Luckily, they're still relative far-out, but the danged money's tied-up now...
TSL might be ready to move.
At least in the short term.
So much for a Citigroup bump
How glad am I that I DIDN'T bet on a bounce today?? Shew, dodged a bullet with that one!!
I remember cautioning against NILE:
Shucks, if only I'd have put my money where my mouth was and SHORTED it...oh well
Yeah, no kidding WB
I was lamenting this weekend in another post about not getting into C to take advantage of the short term bounce Citigroup's sure to experience tomorrow. Once the news came out today, I just wanted to be a little MORE pissed about it!!lol
I think trying to profit in-and-out tomorrow might be dicey. But a Friday position looks pretty safe to profit from tomorrow.
WB: Actually, that's a play I wouldn't mind ALREADY being in versus trying to get in now. That being said, from a short-term perspective I think it's a pretty good idea, as long as you can even out the outlay.