straken
469 posts
msg #103038
- Ignore straken |
10/20/2011 10:57:18 AM
SNDK doesn't look like it can support it's current price level unless it suprises heavily and guides. put options are too expensive and too much theta decay to play. I'm looking for an intraday breakout to sell the 47 & 48 calls. But we have to wait and see if Greece gets its welfare check so this trade may not develope until this afternoon.
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straken
469 posts
msg #103042
- Ignore straken |
10/20/2011 3:05:35 PM
CMG 310.00 OCT 11 C - 02:23:18
Sold to Open 18c @ $9.40 - Total: $16946.00
CMG 320.00 OCT 11 C - 02:24:33
Bought to Open 18c @ $4.60 - Total: $8306.00
Collecting credit of 8640 and 6 pts of vol
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straken
469 posts
msg #103044
- Ignore straken |
10/21/2011 9:56:48 AM
SNDK - 09:42:10 Sold to Open 1000c @ $48.72 - Total: $48728.50
Limit Stop Loss 49.50
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straken
469 posts
msg #103045
- Ignore straken |
10/21/2011 10:42:03 AM
WFT 15.00 OCT 11 C - 10:18:31
Sold to Close 20c @ $0.40 - Total: $772.50
WFT 15.00 OCT 11 C - 10:21:43
Sold to Close 70c @ $0.40 - Total: $2735.00
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straken
469 posts
msg #103046
- Ignore straken |
10/21/2011 11:20:30 AM
CMG 310.00 OCT 11 C - 09:36:18
Bought to Close18c @ $13.25 - Total: $23876.00
CMG 320.00 OCT 11 C - 10:53:46
Sold to Close18c @ $9.30 - Total: $16714.00
Credit on 310 Sale 8640.00
Loss on 310 Cover (6930.00)
Profit on Vol Drop +1710.00
Profit on 320 Sale +8408.00
Total Trade Profit 10118.00
Expected more of a volatility drop on the 310 calls with a vega of .0953 but I didnt happen.
This trade based on a 5.5% pop with a 10% blanket. CMG usually moves 5% after earnings but drops
40 pts of Vol. Vol at execution was 115. At open 98. Amazing its still that high but still a profitable trade for the risk.
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straken
469 posts
msg #103047
- Ignore straken |
10/21/2011 11:42:55 AM
SNDK - Moved Stop loss to 50.00
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machismo
115 posts
msg #103048
- Ignore machismo |
10/21/2011 12:31:53 PM
@ straken nice trading, how long have you been trading options ?
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straken
469 posts
msg #103050
- Ignore straken |
10/21/2011 1:08:03 PM
20th year this year. Took a beating for the first few years until I got better at the game. A lot I my misses came from working and part time trading. I've been semi-retired for the last 4 years and trade options full time now. And the last 4 years have been some of my best.
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Eman93
4,750 posts
msg #103065
- Ignore Eman93 |
10/22/2011 6:10:02 PM
Nice work..
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straken
469 posts
msg #103076
- Ignore straken |
10/24/2011 9:45:27 AM
Thank.
Removed stop loss from SNDK. Will add more shares to short position today. Overweight.
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