Friday, January 27, 2012
I've been remiss 1/27/2012 Friday wrap
If one has a blog, one needs to post so I'll work on updating more frequently. Did a ton of spreads this week, mostly calendars as vol has come in and stocks such as PFE and F rolled through earnings. The big move up over the last two weeks have 50% of my Iron Condors expiring in Feb underwater. The joy of staying small in defined risk options trading is you can gut it out and stick with the position. Have begun entering into the March trades and will enter in full force next week. Based on Gillies call on TVIX I legged into a fairly sizeable position on Thursday as he has usually been on top of this trade. We'll see. Gartmans call on gold today gave me the impetus to enter a Bullish Put spread selling the F167/164 put spread with GLD clsoing at 168.98 today. I had this trade in the Queue so pulled the trigger at todays price. Will be looking to do the same in SLV next week as I think the metals have room to run. Did some scalping on SPY this week with good results until today where I forced a trade and took a small loss. My Bad!
Monday, January 9, 2012
Monday Jan 09, 2012
Exiting January spreads in full force now as profit price targets hit. Theta has worked it's magic. Spent the weekend working up a better, more efficient spreadsheet to work up and track my basket of spreads by month, all of which accomplished while watching NFL playoffs.
Up at 3:30 a.m. Wide awake so no point in doing anything but getting up to see what is happening in the foreign markets. /ES was down about 6 when I went to bed and is now flat so worked up some additional options spreads and reviewed the orders I currently have in (5). Will spen the 1st hour exiting my Jans and then looking for some stocks to do some calendars on that can be rolled a time of two. Will also be looking at some spread buys for small debits.
With S&P at 1280 would like to see a breakout to the 1300-1310 level and then maybe a pullback to 1235-1240 for another buying opp. It seems like it is about time for Europe to raise it's ugly head and show it's ass. Also concerned with the 4th Quarter earnings given that retail sales numbers are not looking so good. Alcoa reports tonight after the close so with that thought, may not enter any more positions except for the trades I currently have in as we may see some pullback tomorrow.
Looked through the 2012 Traders Almanac and may play the Wednesday up stat just for grins by buying a small block of SPY calls Tuesday night. It's one of those stats where you are forced to play it every chance you have for it to work so we will see. Also continueing to scalp the 80% VA rule as it presents.
Well, that's all for now.
Later gators!
Up at 3:30 a.m. Wide awake so no point in doing anything but getting up to see what is happening in the foreign markets. /ES was down about 6 when I went to bed and is now flat so worked up some additional options spreads and reviewed the orders I currently have in (5). Will spen the 1st hour exiting my Jans and then looking for some stocks to do some calendars on that can be rolled a time of two. Will also be looking at some spread buys for small debits.
With S&P at 1280 would like to see a breakout to the 1300-1310 level and then maybe a pullback to 1235-1240 for another buying opp. It seems like it is about time for Europe to raise it's ugly head and show it's ass. Also concerned with the 4th Quarter earnings given that retail sales numbers are not looking so good. Alcoa reports tonight after the close so with that thought, may not enter any more positions except for the trades I currently have in as we may see some pullback tomorrow.
Looked through the 2012 Traders Almanac and may play the Wednesday up stat just for grins by buying a small block of SPY calls Tuesday night. It's one of those stats where you are forced to play it every chance you have for it to work so we will see. Also continueing to scalp the 80% VA rule as it presents.
Well, that's all for now.
Later gators!
Sunday, January 1, 2012
Margin Call
Spent New Year's Eve watching Market Call. Iron's was powerful, Spacey was Spacey and Demi is still a hottie! My takeaways, Wall Street is populated by sharks who will eat their young...you have no friends...trust no one...greed is the strongest emotion on the planet followed by self preservation. When it come down to me or we...me will always win. Nothing new here, just confirmation of the old paradigms. A good watch...I enjoyed it very much. Now...to see what the New Years will bring. Going to spend the next couple of days working up my trading plan for the 1st 3 months of the year. Stay tuned for film at 11:00.
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