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  • #661
  • Jun 13, 2013 8:25am Jun 13, 2013 8:25am
Quoting Cecil Gee
Depending on where GOLD finishes today, anywhere below 1385 then i will have to take GDX $27.50 put for tomorrows expiration, the closing price was 12c so i will be looking for 6c or under to purchase. GDX Jun 2013 27.500 put (GDX130614P00027500) -OPR 0.12 {image} 0.11(47.83%) Jun 12 Also I have my eyes on GS/ C/ AIG puts
green on the screen pre-market, I've got 20 minutes to decide what to do, think I will be selling SDS puts which are showing 60%+ profit, there will be more volatility to try to profit from next week.

I kinda thought the last two days of this week would be risk-on. Since I can't get to the internet, I will prolly not be in weeklies for this week, but I might look at weeklies for next week. Still think FOMC will be worth watching before I get into anything longerterm....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #662
  • Jun 13, 2013 8:33am Jun 13, 2013 8:33am
Quoting Cecil Gee
Depending on where GOLD finishes today,
I'm out of gold and miner instruments until I see a range break with conviction....easier things to trade for now.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #663
  • Edited 10:07pm Jun 13, 2013 9:04am | Edited 10:07pm
got out of SDS puts for $0.51 profit, made a week's pay. Almost bought some Jun 22 VXX puts, couldn't convince myself, out of time, well up o n the week, will prolly call it good. GL all options traders.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #664
  • Jun 13, 2013 7:37pm Jun 13, 2013 7:37pm
Quoting Cecil Gee
Depending on where GOLD finishes today, anywhere below 1385 then i will have to take GDX $27.50 put for tomorrows expiration, the closing price was 12c so i will be looking for 6c or under to purchase. GDX Jun 2013 27.500 put (GDX130614P00027500) -OPR 0.12 {image} 0.11(47.83%) Jun 12 Also I have my eyes on GS/ C/ AIG puts
I'm not looking at them after todays price action
  • #665
  • Jun 14, 2013 4:40am Jun 14, 2013 4:40am
Quoting The Fool
got out of SDS puts for $0.51 profit, made a week's pay. Almost bought some Jun 22 VXX puts, couldn't convince myself, out of time, well up o n the week, will prolly call it good. GL all options traders.
  • #666
  • Jun 14, 2013 6:04am Jun 14, 2013 6:04am
Quoting Cecil Gee
Depending on where GOLD finishes today, anywhere below 1385 then i will have to take GDX $27.50 put for tomorrows expiration, the closing price was 12c so i will be looking for 6c or under to purchase. GDX Jun 2013 27.500 put (GDX130614P00027500) -OPR 0.12 {image} 0.11(47.83%) Jun 12 Also I have my eyes on GS/ C/ AIG puts
Gold is being stubborn this week so this is how i may play GDX today. I already have GDX 27 put which will expire worthless so another loss on that which totals 3 for the week (my worse ever). If GDX trades above yesterdays close 0f 28.63 then I'm buying the $29 call for todays expiration hopefully for pennies. I don't expect it to move significantly higher as there is lots of resistance around 29.30 level so I will close just above 29.15 unless its shows lots of momentum. GDX has a divergence to the upside and is extremely bisible to the eye as has GLD and probably why we have this action over the last 8 trading days, it may have to work through this divergence plus volume in gold traded instruments is about 40% less.
Anyway yesterday 29$ option strike closed at 14c, I hope it opens for 5c or less and if it meets the above criteria I'm a buyer for the day.
On the flip side if it trades below 28.33 then I'll buy the $28 put
  • #667
  • Jun 14, 2013 6:26am Jun 14, 2013 6:26am
I'm keeping my eye on this

GDX July $28 put at $1.18, are they selling it?

which would indicate that GDX is going higher

GDX Jul 2013 28.000 put (GDX130720P00028000)
-OPR
1.18 http://l.yimg.com/a/i/us/fi/03rd/down_r.gif 0.11(8.53%) Jun 13

Prev Close:
1.29
Open:
1.33
Bid:
N/A
Ask:
N/A
Strike:
28.00
Expire Date:
20-Jul-13
Day's Range:
1.18 - 1.48
Contract Range:
N/A - N/A
Volume:
32,682
Open Interest:
32,796
  • #668
  • Jun 14, 2013 9:35am Jun 14, 2013 9:35am
Quoting Cecil Gee
I'm keeping my eye on this GDX
Good luck, CG.

I've got a buy order set for VXX Jun 22 $21 calls for $0.35 (paper)

USO Aug $33 puts for $0.57 with WTI at $97.90 now
"If The Fool persists in his Folly he will become wise." - William Blake
  • #669
  • Edited 5:05pm Jun 14, 2013 4:21pm | Edited 5:05pm
Quoting The Fool
{quote} Good luck, CG. I've got a buy order set for VXX Jun 22 $21 calls for $0.35 (paper) USO Aug $33 puts for $0.57 with WTI at $97.90 now
VXX unfilled at $0.35, went from $0.36 to $0.75 on the day; USO puts unchanged.

Been a brutal long week & I just had a 1/2 hour or so before the open to try to get into trades - like 5:30 - 6:30 in the morning here on the West coast - but I made money. Less is more it seems sometimes. Hope ya'll all have a good weekend, I bet there will be some good trading next week.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #670
  • Jun 14, 2013 5:01pm Jun 14, 2013 5:01pm
sorry about your tough week CG

fair to average week here

I closed half of my MSFT Jun 36/39 Bear call spread and collected $.36 credit( got in the spread for $.72 credit monday)... Ill bid $.10 to buy back the rest

CTRP Jun 31/32 Bull put spread is looking good... first target to take some of the profits is coming up soon

Anticipating a capitulation move in yen strength to set a mid term low.... looking to get $2.00 credit for a FXY Jun 106/96 short strangle next week if the market capitulates during the NY session.... if UJ does it during asia and fills the gap Ill look to get in still.. but for no less than $1.65 credit
  • #671
  • Jun 14, 2013 5:17pm Jun 14, 2013 5:17pm
Quoting The Fool
{quote} VXX unfilled at $0.35, went from $0.36 to $0.75 on the day; USO puts unchanged. Been a brutal long week & I just had a 1/2 hour or so before the open to try to get into trades - like 5:30 - 6:30 in the morning here on the West coast - but I made money. Less is more it seems sometimes. Hope ya'll all have a good weekend, I bet there will be some good trading next week.
expiration week.... should be interesting.... Also big Ben and gang have their meeting

never a dull moment
  • #672
  • Jun 14, 2013 5:28pm Jun 14, 2013 5:28pm
Quoting Wulfgar
sorry about your tough week CG fair to average week here I closed half of my MSFT Jun 36/39 Bear call spread and collected $.36 credit( got in the spread for $.72 credit monday)... Ill bid $.10 to buy back the rest CTRP Jun 31/32 Bull put spread is looking good... first target to take some of the profits is coming up soon Anticipating a capitulation move in yen strength to set a mid term low.... looking to get $2.00 credit for a FXY Jun 106/96 short strangle next week if the market capitulates during the NY session.... if UJ does it during asia...
Thx, not been a good week. There's a way to play these options where even when you lose you win, thats why i do the same over and over again, mindset
  • #673
  • Jun 14, 2013 5:37pm Jun 14, 2013 5:37pm
Quoting The Fool
{quote} VXX unfilled at $0.35, went from $0.36 to $0.75 on the day; USO puts unchanged. Been a brutal long week & I just had a 1/2 hour or so before the open to try to get into trades - like 5:30 - 6:30 in the morning here on the West coast - but I made money. Less is more it seems sometimes. Hope ya'll all have a good weekend, I bet there will be some good trading next week.
that would be a good profitable trade, todays price action confirms a break down next week in equities
  • #674
  • Jun 14, 2013 5:48pm Jun 14, 2013 5:48pm
Quoting The Fool
{quote} Good luck, CG. I've got a buy order set for VXX Jun 22 $21 calls for $0.35 (paper) USO Aug $33 puts for $0.57 with WTI at $97.90 now
Really really good potential
  • #675
  • Jun 14, 2013 6:51pm Jun 14, 2013 6:51pm
Quoting Cecil Gee
{quote} Really really good potential
YUP, i thought we'd have some upmoves in the stocks so I bumped the entry down, missed getting filled by a couple cents prolly. If I had had time to think it over I prolly woulda bought those calls at market for real $, cuz I think there'll be some good moves next week, but I had to run. Oh well, I'll get the next one.

Didn't sell no TSLA puts neither, I must be a chickenshit. Was looking at Jun 22 $87.50 & it dropped by 40% today. Maybe just as well. pretty safe bet but r:r not as good as many trades I can do.

10yr bond yields slid hard on the week - maybe I has been duped.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #676
  • Jun 16, 2013 6:48am Jun 16, 2013 6:48am
Quoting Cecil Gee
{quote} Financials looking to take a hit, I'm looking to do a bear verticle spread on XLF when markets open, buying the JULY 19 put and selling the JUNE 18 PUT JULY-28C debit and JUNE 8-9c credit, if i can get those prices, with a net debit of around 20c and if june's option expires worthless then i will sell julys 18 put bringing my net cost to around 12c or less.
ok this looks to be on again, last week we had a shakeout and i was caught out too, The DOW looks finally like it wants to come down providing we can pass 14990 where the 50 day is sitting, this classic price action of 100+ points up one day and down the next day to me looks as though we're about to embark some form of a mini correction.
With the FOMC on wednesday is could be the trigger, allign the VIX and VXX chart to this mix
  • #677
  • Jun 16, 2013 3:52pm Jun 16, 2013 3:52pm
Quoting The Fool
{quote} USO Aug $33 puts for $0.57 with WTI at $97.90 now
Only new trade I'm in is the USO puts. I don't have a problem with wait and see now. There's been a whole lotta shakeout action and I'm no real sure of anything. Just leaning USD strength and a slide in oil. Will have more screen time in the coming week, if I need it....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #678
  • Jun 16, 2013 3:56pm Jun 16, 2013 3:56pm
Quoting Cecil Gee
{quote} okThe DOW looks finally like it wants to come down
I will be watching the Nikkei in Asian Monday. Any kind of bounce there will prolly carry thru to Europe then NY, my guess...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #679
  • Jun 16, 2013 4:27pm Jun 16, 2013 4:27pm
Quoting The Fool
{quote} I will be watching the Nikkei in Asian Monday. Any kind of bounce there will prolly carry thru to Europe then NY, my guess...
The yen really has a nice level if it can get a little stronger

I like the 105.50 on FXY... historically a really significant area too... Just need some sort of exhaustion move into the zone... maybe the FOMC will give us something
  • #680
  • Jun 16, 2013 9:16pm Jun 16, 2013 9:16pm
Quoting Wulfgar
{quote} The yen really has a nice level if it can get a little stronger I like the 105.50 on FXY... historically a really significant area too... Just need some sort of exhaustion move into the zone... maybe the FOMC will give us something
Boy howdy there could still be some higher highs in u/j. There may not be anything but ranging until after the Upper Diet elections - July 21.

Good sized chunk of open interest sitting on the Sep FXY $95 puts. Just $0.60. Only there's Jackson Hole. Why Jackson Hole...Why!!??

But if Abe gets a green light to whip out his third arrow then $0.60 could go $3.00+ in August...assuming u/j back to 105.0 territory.
"If The Fool persists in his Folly he will become wise." - William Blake
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