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Let's Trade Options

  • #181
  • May 21, 2013 3:14pm May 21, 2013 3:14pm
Quoting Wulfgar
{quote} thanks brother... looking forward to it Oil is a total mystery to me right now and Im sitting on my hands as far as USO goes... only thing I would even attempt is a ratio put spread if it went to 35...
I made a amateur mistake of taking a short expiration trade of a weekly chart, if it goes past 34.01 then it over for this week in uso
  • #182
  • May 21, 2013 3:22pm May 21, 2013 3:22pm
Wed-Thur maybe set something up for me. Hydrocarbon numbers and the CB heads talking. I still think some USD weakening/yen strengthening is the likely development, but Ima have to wait & see it. IAU straddle was not the best trade but there's time for that booger to move, I ain't worried.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #183
  • May 22, 2013 10:27am May 22, 2013 10:27am
Quoting Cecil Gee
{quote} I made a amateur mistake of taking a short expiration trade of a weekly chart, if it goes past 34.01 then it over for this week in uso
closed this dumb ass trade, lost 11c on it or $11 per contract
  • #184
  • May 22, 2013 10:35am May 22, 2013 10:35am
Quoting Cecil Gee
{quote} EWZ STILL CAN'T HOLD ABOVE 55.45 iShares MSCI Brazil Capped Index (EWZ) -NYSEArca 55.30 {image} 0.37(0.67%) 2:47PM EDT - Nasdaq Real Time Price
bought EWZ $56 calls for 16c

EWZ is trading at $55.58 at present

iShares MSCI Brazil Capped Index (EWZ)

-NYSEArca

55.59 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.32(0.58%) 11:34AM EDT - Nasdaq Real Time Price
  • #185
  • May 22, 2013 10:43am May 22, 2013 10:43am
Quoting Cecil Gee
{quote} very strange its not correlated with this rise in the market right before fomc
TLT has dropped big today and now bouncing back
  • #186
  • May 22, 2013 11:53am May 22, 2013 11:53am
Quoting Cecil Gee
{quote} bought EWZ $56 calls for 16c EWZ is trading at $55.58 at present iShares MSCI Brazil Capped Index (EWZ) -NYSEArca 55.59 {image} 0.32(0.58%) 11:34AM EDT - Nasdaq Real Time Price
not liking this price action, closed that option buy for 18c. Waiting after fomc now to make final decision

EWZ May 2013 56.000 call (EWZ130524C00056000)

-OPR

0.18 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 0.06(50.00%) 12:24PM EDT
  • #187
  • May 22, 2013 11:58am May 22, 2013 11:58am
Quoting Cecil Gee
{quote} bought EWZ $56 calls for 16c EWZ is trading at $55.58 at present iShares MSCI Brazil Capped Index (EWZ) -NYSEArca 55.59 {image} 0.32(0.58%) 11:34AM EDT - Nasdaq Real Time Price
I bought a little pile of the Jan '14 $70 calls @ $0.17 today. Hope those jump up for you by Friday.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #188
  • May 22, 2013 12:09pm May 22, 2013 12:09pm
Quoting The Fool
{quote} I bought a little pile of the Jan '14 $70 calls @ $0.17 today. Hope those jump up for you by Friday.
I may join you, but a lower strike. I'm waiting to see where we close today on EWZ, my bias is long but i got a little chicken to hold onto my trade. closed out that option already as posted a little earlier 20 minutes ago as price was coming down. common sense told me to wait until after fomc.

If we close anywhere above 55.45 today you should make money on that option,

GLD setting up for a big move again
  • #189
  • May 22, 2013 12:19pm May 22, 2013 12:19pm
Quoting Cecil Gee
{quote} If we close anywhere above 55.45 today you should make money on that option, GLD setting up for a big move again
If the juice goes on forever then EWJ Dec '13 $15 calls @ $0.12 might be my next one.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #190
  • May 22, 2013 12:22pm May 22, 2013 12:22pm
FOMC

when fomc minutes comes out depending on what is said and IF gold starts to fall again, i'll be looking to trade GDX

i have my eyes on GDX $26 put for 4c. GDX will need to trade under 27.19 for me to take it

GDX May 2013 26.000 put (GDX130524P00026000)

-OPR

0.04 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 0.11(73.33%) 12:49PM EDT



GDX is trading around 27.80 now

GLD is to expensive for a two day trade so i may leave this week and might purchase next weeks $123 put
GLD is trading at 132.51 at the moment. As you can see my bias for gold is down but these fomc minutes can reverse the whole thing thats why i'm waiting!!
  • #191
  • May 22, 2013 12:27pm May 22, 2013 12:27pm
Quoting Cecil Gee
FOMC when fomc minutes comes out depending on what is said and IF gold starts to fall again, i'll be looking to trade GDX ... thats why i'm waiting!!
Dovish fomc should sink the yellowmetal. Dovish is looking priced in. Something unexpected would shake things up.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #192
  • May 22, 2013 12:35pm May 22, 2013 12:35pm
Quoting Cecil Gee
Tempted to take the TLT $115 PUT OPTION FOR FRIDAYS EXPIRATION 13/14c or so at present, TLT price is 116.92, probably wait near closing to see where it is trading at iShares Barclays 20+ Year Treas Bond (TLT) -NYSEArca 116.92 {image} 0.14(0.12%) 2:45PM EDT - Nasdaq Real Time Price TLT May 2013 115.000 put (TLT130524P00115000) -OPR 0.13 {image} 0.09(40.91%) 2:19PM EDT
this option price I didn't take went to 44c today!
  • #193
  • May 22, 2013 12:36pm May 22, 2013 12:36pm
the entire Bernak speech has already been retraced on SPY..
  • #194
  • May 22, 2013 12:36pm May 22, 2013 12:36pm
TLT gots plenty of room to fall.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-05-22_tlt.png Size: 43 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #195
  • May 22, 2013 12:39pm May 22, 2013 12:39pm
Quoting Cecil Gee
{quote} this option price I didn't take went to 44c today!
Ya buddy... tlt rocking and rolling today....underlying went into a pretty significant level @ the 115.80.... if it keeps breaking down and yields stay firmly above 2% we could see a pretty strong drop in TLT
  • #196
  • May 22, 2013 12:39pm May 22, 2013 12:39pm
Quoting The Fool
TLT gots plenty of room to fall. {image}
been saying that for 28 years
  • #197
  • May 22, 2013 12:39pm May 22, 2013 12:39pm
Quoting Wulfgar
the entire Bernak speech has already been retraced on SPY..
If fomc minutes reveal QE cutting back will Gold go further down?
  • #198
  • May 22, 2013 12:40pm May 22, 2013 12:40pm
Quoting Wulfgar
the entire Bernak speech has already been retraced on SPY..
yeah that's right. market heads want a pullback. like the Romans would visit the vomitorium to puke their guts out so they could go back and feast somemore. man that was the life.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #199
  • May 22, 2013 12:45pm May 22, 2013 12:45pm
Quoting Cecil Gee
{quote} If fomc minutes reveal QE cutting back will Gold go further down?
I think Gold is going to $1200 no matter what...there really doesnt seem to be any willing buyers on a macro view until then

but the fed cutting should really send Gold out of bed... since we will see the $dxy go nuts
  • #200
  • May 22, 2013 12:47pm May 22, 2013 12:47pm
Quoting Cecil Gee
{quote} If fomc minutes reveal QE cutting back will Gold go further down?
the way things been going gold might be sunk regardless, but if it has a chance for a pop it would be on the back of some safehaven moves, just mho, and I'm just a fool
"If The Fool persists in his Folly he will become wise." - William Blake
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