Sunday, October 14, 2007
RIG
RIG has been forming a nice series of well defined support and resistance levels. Could this pattern continue? Perhaps the next resistance level could be around the 120-121 area, which is the 52 week high.
Labels: RIG
Thursday, June 28, 2007
Sell - 1 RIG Aug 95 Call @ 13 (Bought @ 12)
This thing sure took a tumble.. I put in an order for 14, but no go. Had to settle for 13. Oh well, a profit is a profit. It's a volatile market out there.
Labels: RIG
Wednesday, June 27, 2007
Buy - 1 RIG Aug 95 Call @ 12
My old friend RIG might bail me out of my misery of my last few trades. Bought it around 105, which acted as support, after it broke past it and then pulled back towards it. The late day rally in the market as well as oil definitely helped it along.
Labels: RIG
Thursday, June 14, 2007
Sell - RIG July 90 Call @ 12.70 (Bought @ 11.10)
Energy looks overbought to me. Might get back in if it pulls back a little. It's gone up 5-6 bucks in the past couple of days.
Labels: RIG
Saturday, June 09, 2007
Sell - RIG 90 July Call @ 8
Energy stocks were very weak in the morning. Should've held on to it longer, as they moved up during the day. Still holding 1 more of this option. Currently negative on the RIG trades.
Labels: RIG
Thursday, June 07, 2007
Bad trading
Still holding RIG. Went back to my bad old trading habits of not respecting my stop losses. I always had the "this is an energy stock, it will bounce up" thought in the back of my mind. That's a no-no.
When it comes to options, you need to be even more disciplined as compared to stocks. In this case, although the stock was down 'only' 2.7%, the option that I was holding went down 10 times that (since my avg cost was 10).
Anyway, I'll be getting out of this if the markets are down tomorrow as well.
Lesson: Respect stop-loss. You can always get back into the trade if it goes higher.
When it comes to options, you need to be even more disciplined as compared to stocks. In this case, although the stock was down 'only' 2.7%, the option that I was holding went down 10 times that (since my avg cost was 10).
Anyway, I'll be getting out of this if the markets are down tomorrow as well.
Lesson: Respect stop-loss. You can always get back into the trade if it goes higher.
Tuesday, June 05, 2007
Buy RIG 90 July Call @ 11.10
The market looked to reverse in the afternoon. Bought back the option that I sold earlier for 11.80 :). Currently holding 2 of these options.
Labels: RIG
Sell - RIG 90 July Call @ 12.80
Sold RIG market looked very weak at that time. Had bought it for 8.4.
Labels: RIG
Thursday, May 31, 2007
Buy JOYG 45 June @ 8.60, Buy RIG 90 July @ 8.40, 10
So... lets see how this blogging thing works .. a lot of people seem to be doing it these days..
I'll most probably be posting my option trades on this blog. Here goes..
I'm a novice trader. Please do not copy my trades, or take my advice, you'll lose money!
05/30 - Bought JOYG 45 June @ 8.60. JOYG was just too strong that day.
05/30 - Bought RIG 90 July @ 8.40. It looked to me like it was breaking out. Besides, energy related stocks are strong these days.
05/30 - Added RIG 90 July @10. Not sure if this was smart or not. I don't like the shooting star that it's printed today. Time will tell.
I'll most probably be posting my option trades on this blog. Here goes..
I'm a novice trader. Please do not copy my trades, or take my advice, you'll lose money!
05/30 - Bought JOYG 45 June @ 8.60. JOYG was just too strong that day.
05/30 - Bought RIG 90 July @ 8.40. It looked to me like it was breaking out. Besides, energy related stocks are strong these days.
05/30 - Added RIG 90 July @10. Not sure if this was smart or not. I don't like the shooting star that it's printed today. Time will tell.
