Tuesday, July 31, 2007
Trading Rules
Adding one more..
1. Buy options that have at least 3 months expiration on them. One month expirations are a bit too volatile for me.
2. Don't fight the trend.
3. Respect stop loss. I'm thinking of keeping it around 20% for options.
4. Don't average down.
Hmmm.. haven't been respecting rules 1 and 3! I better take a printout and stick it to my wall.
1. Buy options that have at least 3 months expiration on them. One month expirations are a bit too volatile for me.
2. Don't fight the trend.
3. Respect stop loss. I'm thinking of keeping it around 20% for options.
4. Don't average down.
Hmmm.. haven't been respecting rules 1 and 3! I better take a printout and stick it to my wall.
Labels: Rules
Buy 2 AAPL Sep 145 Call @ 5.70, 6.30 (Bought @ 11.00, 8.00)
This one hurt prettttty bad... This market's too volatile, this stock was even more so. And I averaged down to make it even worse.
Lesson- Don't average down.
Hmm ... need to update my rules.
Lesson- Don't average down.
Hmm ... need to update my rules.
Monday, July 30, 2007
Buy 2 AAPL Sep 145 Call @ 11.00, 8.00
I think this is a disaster waiting to happen. Bought 1 AAPL call @ 11.00 on Friday after it was making new highs on Friday. That joy didn't last long. To make matters worse, I tried to average down on this position by buying one more @ 8.00 when the market started looking bullish in the afternoon. What makes me feel even worse is that I had 2 choices, to buy an MA call when it broke 160 (closed @ 164.59), or to buy this thing .. oh well..
Labels: AAPL
Thursday, July 26, 2007
Watchlist for July 27
Entering alerts for the following-
AAPL above 148.50
FFIV above 91.61 (Spread might be a little large)
JOYG above 49 (It's been down 5 consecutive days, perhaps due for a bounce)
GRMN above 83.50
AMZN above 85
ISRG above 205
AAPL above 148.50
FFIV above 91.61 (Spread might be a little large)
JOYG above 49 (It's been down 5 consecutive days, perhaps due for a bounce)
GRMN above 83.50
AMZN above 85
ISRG above 205
Labels: Watchlist
Sell - 1 CTX Jan 55 Put @ 16.20 (Bought @ 14.30)
This was a boring Put. Didn't move down as much as I would have liked, especially on a day like today. I should have stuck with my BZH Put.
Currently not holding any Option positions. Might try to post a watchlist later on tonight.
Currently not holding any Option positions. Might try to post a watchlist later on tonight.
Sell - 1 PLCE Sep 55 Put @ 17.10 (Bought @ 11.70)
Peachy day today! Sold this one towards the end of the day in anticipation of a bounce in the markets.
It served it's purpose, luckily I held this Put the past few days.
It served it's purpose, luckily I held this Put the past few days.
Sunday, July 22, 2007
PCLN
I think PCLN might break out above resistance. I'm putting in an alert for this @ 71.50.
Labels: pcln
Sell - 1 BRCM Nov 40 Put @ 5.90 (Bought @ 10.30)
When I opened this position, I decided to put in a stop-loss @ 32.50. I didn't respect that, so I'm having to pay for this mistake now.
Labels: BRCM
Thursday, July 19, 2007
OPSW - Reader's pick
j.M, OPSW does look to be in an uptrend. My only concern is that it's a little overextended above the upper BB. Judging by past moves, whenever it has gone above the BB it's pulled back (It's normally the case with most stocks). So yep, be careful :)
Labels: OPSW
Wednesday, July 18, 2007
Buy - 1 PLCE Sep 55 Put @ 11.70
Ummm.. wasn't the market supposed to go down big today? :) Didn't look like it at the close:)
Anyway, got into this one, maybe not a good day to short retail, given the Macy's buyout offer news.
Will get out @ 45.
Anyway, got into this one, maybe not a good day to short retail, given the Macy's buyout offer news.
Will get out @ 45.
Labels: PLCE
Tuesday, July 17, 2007
Watchlist for July 18
I'm expecting a down day tomorrow, these could be some short possibilities:
PLCE below 43.50
CCJ below 46.50
BZH below 21.45 (This alert should get triggered right at the open, it's moved down AH. I'll wait for a good entry point if I decide to trade this.)
PLCE below 43.50
CCJ below 46.50
BZH below 21.45 (This alert should get triggered right at the open, it's moved down AH. I'll wait for a good entry point if I decide to trade this.)
Labels: Watchlist
Monday, July 16, 2007
Sell - 1 DRYS Sep 40 Call @ 16.00 (Bought @ 15.00)
I'm disappointed I didn't make more on this, especially after the article in IBD. I wanted to let this run since it was a September strike, but had to take profits on this after it started to reverse.
Labels: DRYS
Sell - 1 GRMN Aug 70 Call @ 14.80 (Bought @ 10.70)
Sold on a break of 84. GRMN looked over extended to me anyway. Had to take profits on this one.
Labels: GRMN
Sell - 1 POT Aug 75 Call @ 11.4 (Bought @ 9.00)
Sold this on a break of 85.50. Markets were looking weak at that point.
Labels: POT
Sunday, July 15, 2007
ATPG
This looks like a nice chart to me. It's been consolidating for a few days. A break above 49.25 with good volume could take this higher.
I'm putting in an alert above 49.25.
Labels: ATPG
Position Update
I normally don't hold so many option positions open at the same time but this is what I'm holding-
CTX Put (Down $270)
DRYS Call (Up $50)
GRMN Call (Up $230)
POT Call (Up $70)
BRCM Put (Down $260)
My Calls and Puts are somewhat balancing each other, so I'm not making money on my options. Most probably I might let go of my Puts. I think the Dow will try to go above 14000 and take the markets up along with it. The earnings this week might give an idea of the direction that the market might take.
CTX Put (Down $270)
DRYS Call (Up $50)
GRMN Call (Up $230)
POT Call (Up $70)
BRCM Put (Down $260)
My Calls and Puts are somewhat balancing each other, so I'm not making money on my options. Most probably I might let go of my Puts. I think the Dow will try to go above 14000 and take the markets up along with it. The earnings this week might give an idea of the direction that the market might take.
Labels: position update
Saturday, July 14, 2007
Buy - 1 POT Aug 75 Call @ 9.00
Bought this a little above a break of 82. Could this possibly be a breakout for POT? Volume was pretty good.
Labels: POT
Thursday, July 12, 2007
Buy - 1 DRYS Sep 40 Call @ 15.00
This stock has given so many opportunities in the past to get in. I decided to buy in today when it broke, what looked to me, intraday resistance @ 53.50. It might be overextended at this point, so I'll keep my stop-loss tight.
j.M brought this stock to my attention a few days ago when he traded it.
j.M brought this stock to my attention a few days ago when he traded it.
Labels: DRYS
Wednesday, July 11, 2007
Buy - 1 GRMN Aug 70 Call @ 10.70
Bought this when it broke, what looked to me, intraday resistance at 79.40. It didn't stay above that for too long, but it did recover towards the end of the day.
Was debating whether to buy JOYG or GRMN, decided to go with GRMN for some reason. Let's see if that was a good decision :)
Was debating whether to buy JOYG or GRMN, decided to go with GRMN for some reason. Let's see if that was a good decision :)
Labels: GRMN
Tuesday, July 10, 2007
AMX - Reader's pick
j.M, It looks to me like it's broken the upward trendline. I won't say it's a short candidate, but I would like to see it go above the trendline.
The past month it's formed a series of higher highs and higher lows, which is good. Below 60 could be bearish for this though.
Thoughts welcome.
Labels: AMX
Buy, Sell - 1 AAPL Aug 120 Call @ 15.00 (Bought @ 16.50)
This trade was simply a waste of money.. can't write much about it...It looked to me that it was consolidating and then suddenly dipped. This was a panic sell, something I was hoping I won't do.
Labels: AAPL
Sunday, July 08, 2007
Watchlist
I prepared a watchlist based on a visual scan of the IBD 100 list. I'll be adding alerts for the following stocks:
JEC above 60 (IBD had a positive story on this, I think that should bring attention to this stock. The chart looks like it's finding resistance at 60, I think if it closes above that, it could go higher.)
RIO below 45.50 for buy
CAM below 72 for a buy
TEX below 81 for a buy
WFR above 63
NTGR above 38 (This has a black border around it's chart in IBD, which means it's a buy. This should jump up)
CHE above 69 (Not a good options play IMO, the spread is too large. Chart looks like it could break out.)
ATHR above 32.50
LFL above 84 (This looks like it has pulled back to it's trendline, might bounce from here. No options on this though :()
JEC above 60 (IBD had a positive story on this, I think that should bring attention to this stock. The chart looks like it's finding resistance at 60, I think if it closes above that, it could go higher.)
RIO below 45.50 for buy
CAM below 72 for a buy
TEX below 81 for a buy
WFR above 63
NTGR above 38 (This has a black border around it's chart in IBD, which means it's a buy. This should jump up)
CHE above 69 (Not a good options play IMO, the spread is too large. Chart looks like it could break out.)
ATHR above 32.50
LFL above 84 (This looks like it has pulled back to it's trendline, might bounce from here. No options on this though :()
Labels: Watchlist
Saturday, July 07, 2007
Sell - 1 BZH Aug 30 Put @ 7.00 (Bought @ 4.30)
As I thought the previous day, BZH was looking to bounce. I liked the fact that I monitored this position the night before, it kept me on my toes, and sold it after it broke the intra-day high at that time. It's a pity I didnt do the same for CTX and BRCM. Still holding them, and currently slightly down on both these positions.
Amongst all of the home builders, this stock somehow looks to be the weakest to me. This could be a good short at higher levels.
Amongst all of the home builders, this stock somehow looks to be the weakest to me. This could be a good short at higher levels.
Labels: BZH
Sell - 1 AAPL Oct 130 Call @ 12.60 (Bought @ 12.30)
I wasn't feeling very confident with this position. I think AAPL might pull back a little from here. It's gone up decently well the past few days, possibly due to a short squeeze. People were betting against the iPhone. I'll be setting an alert in case AAPL breaks towards the upside.
Labels: AAPL
Thursday, July 05, 2007
Position Update - BZH
It looks to me that BZH might have printed a hammer-like pattern today. I might cover this tomorrow if it looks to reverse. It has had 5 pretty big down days in a row, so it is due for a bounce.
Labels: BZH
Buy - 1 AAPL Oct 130 Call @ 12.30
I could have bought this a little cheaper, I just knew it was going to pull back the second I bought it. AAPL might look overbought in the short term here.. if this pulls back big, will get rid of it.
Labels: AAPL
Monday, July 02, 2007
Watchlist
A lot of my alerts got triggered today, and unluckily wasn't able to capitalize on any of them. I was too busy at work.
Today was the day to make money with huge moves in most of the stocks - RIMM, BIDU, MICC, FSLR etc etc etc
I'm adding a couple more stocks to my alerts -
NVDA above 43.87
ESRX above 51.40
Today was the day to make money with huge moves in most of the stocks - RIMM, BIDU, MICC, FSLR etc etc etc
I'm adding a couple more stocks to my alerts -
NVDA above 43.87
ESRX above 51.40
Options Blog
I came across an Options Blog a couple of days ago, and I'm hooked on it! His name is Ben Evans and his posts are amazing, he puts in a lot of time and effort in them. I'm hoping to learn (and possibly use) a few more option strategies from his site, hopefully some of you can too.
I've added him to my links on the left under Option Education.
I've added him to my links on the left under Option Education.
Labels: Blog
Buy - 1 BRCM Nov 40 Put @ 10.30
It looks to me that BRCM is facing some resistance at 30. I bought this when it touched close to 30 and was on it's way down. It moved sideways after I bought it. I feel if it moves below 29ish, it might go all the way down to 27. Time will tell.
I might close this position above 32.50.
I might close this position above 32.50.
Labels: BRCM
Sell - CCJ Aug 45 Call @ 5.30 (Bought @ 9.10)
Yep, when I try to give a position that I'm holding some room to move, it usually ends up biting me in the a$$. Oh well, live and learn.. hopefully!
Labels: CCJ
Sunday, July 01, 2007
AT&T (T)
It's trying to break out of a range. If this breaks above 41.50, and pulls back to find support at 41.50, then this could be a good long IMO.
Labels: T
