Tuesday, July 31, 2007
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.
Lesson- Don't average down.
Hmm ... need to update my rules.
Monday, July 30, 2007
Thursday, July 26, 2007
Watchlist for July 27
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
Currently not holding any Option positions. Might try to post a watchlist later on tonight.
It served it's purpose, luckily I held this Put the past few days.
Sunday, July 22, 2007
I think PCLN might break out above resistance. I'm putting in an alert for this @ 71.50.
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 :)
Wednesday, July 18, 2007
Anyway, got into this one, maybe not a good day to short retail, given the Macy's buyout offer news.
Will get out @ 45.
Tuesday, July 17, 2007
Watchlist for July 18
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.)
Monday, July 16, 2007
Sunday, July 15, 2007
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.
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
Thursday, July 12, 2007
j.M brought this stock to my attention a few days ago when he traded it.
Wednesday, July 11, 2007
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 :)
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.
Buy, Sell - 1 AAPL Aug 120 Call @ 15.00 (Bought @ 16.50)
Sunday, July 08, 2007
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 :()
Saturday, July 07, 2007
Sell - 1 BZH Aug 30 Put @ 7.00 (Bought @ 4.30)
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.
Sell - 1 AAPL Oct 130 Call @ 12.60 (Bought @ 12.30)
Thursday, July 05, 2007
Position Update - BZH
Buy - 1 AAPL Oct 130 Call @ 12.30
Monday, July 02, 2007
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
I've added him to my links on the left under Option Education.
Buy - 1 BRCM Nov 40 Put @ 10.30
I might close this position above 32.50.
Sell - CCJ Aug 45 Call @ 5.30 (Bought @ 9.10)
Sunday, July 01, 2007