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Teddi KnightKeymaster
As a follow-up, I ended up selling at 12:38 for 131.98. I am so grateful I got out before the massive pullback. Unfortunately, I didn’t get in on the SDOW trade as I was busy in the afternoon and couldn’t watch the market. Thanks for sharing your expertise.
Teddi KnightKeymasterThomas, I like your strategy of the long put bought for next week, I am new to spreads and took a big loss on FB recently as it fell quickly 1 day before expire, this makes me feel safer as I am new and trying to build my capital quicker through spreads
Teddi KnightKeymasterTrendfirst, I wouldn’t sweat it for sure. A profit is always a profit, no matter how big or small. It was a good trade nonetheless and there will be lots more opportunities ahead especially this year.
Teddi KnightKeymasterI still believe in Zuckerberg. Regardless of what the market might think, those were terrific earnings. I think I will be good by Friday unless this market sell off continues. I can always roll.
Teddi KnightKeymasterI think the reason you do so extraordinarily well is that you can watch constantly, and have a better feel than all of us for the movements of the market. I went into SDOW yesterday, sold it today since I won’t be here in the morning. As we all know, missing an hour of the open can be a killer.
I like holding a small position just as a hedge anyway, so if it didn’t work out today, it would have sooner or later; or even if I took a loss, I would feel better knowing I had a small hedge.
Teddi KnightKeymasterI closed my Jan 30 $83 puts today on CAT for $2.00 this morning and waited all day to Roll into Feb 20 $80 puts at $1.80. I did get a fill shortly before the market closed. I have had to Roll CAT often since I started trading it in 2013.
Teddi KnightKeymasterTeddi may not have them posted as yet
Jan 28 2015 at 4:14 pm in reply to: Right time to roll Procter and Gamble Stock (PG Stock) / Buy stocks #15666Teddi KnightKeymasterTeddi might not have them posted as yet.
Teddi KnightKeymaster3:46 sold 500 shares of SDOW for $22.56. Will hold the rest into Thursday.
Teddi KnightKeymasterTeddi, I got in to this trade before I saw your note specifying it as a highly speculative trade. So just to be safe, I treated this one as a quick scalp. Sold half at 22.16 and half at 22.30.
Cheers,
KevinTeddi KnightKeymasterI was also holding 5 of the 30 Jan 83. When CAT went underwater yesterday, I sold 4 Mar 77.5’s at 2.00 and 2 May 75’s @ 2.60. Since I was going to be away this am I put in an open order to close the 83s at 2.00. The sell order filled this am on the bounce. Got lucky on that one.
Teddi KnightKeymasterI’ll let you know. I will post them here first. For now anyone following make sure you subscribe to this topic. Just look at the very first post and you can see the words subscribe or select “Notify me of follow-up replies via email” if you post something. Right now this is highly speculative. Be prepared for possible losses. Please review the article https://www.fullyinformed.com/members/trade-alert-market-direction-portfolio-speculative-trade-jan-28-2015/
Thanks.Teddi KnightKeymasterThanks Teddi
I’m in at 21.75 with an initial stop at 20.75. Can you let us know when you are adjusting stops?
Cheers,
KevinJan 28 2015 at 2:05 pm in reply to: Right time to roll Procter and Gamble Stock (PG Stock) / Buy stocks #15653Teddi KnightKeymasterAnyone else short the 87.5 puts for Feb 20 expiration? I’m underwater and waiting for a bounce…the question is (as always) how long to wait before rolling down and out. CAT bounced better today than Procter. Go figure.
Teddi KnightKeymasterShould be interesting to see what happens with this trade and the stock. Good luck my friend.
Teddi KnightKeymasterAveraging down was a good move and in many ways similar to what I was doing. The biggest problem with averaging down is you are placing more capital into the trade. When I sell out it releases my capital which despite a loss, means there is no additional capital being risked.
After you averaged down you want to begin to work with a tighter stop-loss. Pick your new cost basis and work the stop tighter from there. It is all about managing the trade and looking to readjust the position just in case the trade is going to end up poorly. You are always trading the market direction with an eye on an exit strategy.
Getting back into the trade is the easy part, but getting out with a profit and more important with capital intact is the tougher task in any trade including trading the market direction.Teddi KnightKeymasterIt remains trading in a new pattern. Needs to be more carefully monitored
Teddi KnightKeymasternice gutsy move. FB tonight….
Teddi KnightKeymastertrying to sell the 1/30 42 put for .38
Teddi KnightKeymasterHi Teddi,
I too am in awe with the facility with which you managed your trade. Your deft use of the Stop Loss is truly amazing
I entered at 128.90 (11.24 am). I started with a 0.75 cents stop loss. When the UDOW reached 129.60 I changed my Stop Loss to 129.20 but got taken out at 129.05 at 11.43 am.
I have printed your write up and have gone over it several times to better manage my next trade.
As yet I am still paper trading this strategy.
Thanks for a brilliant analysis.
Avelino
Teddi KnightKeymasterThinking about it further, I would stick with DIA, SPY, QQQ or IWM depending on the Index you want to trade options and just buy calls or puts depending on your posture.
Teddi KnightKeymasterJust my thoughts, but it seems to me that options are already a leveraged product, so if you wanted to do options, you would do DIA (bullish) or DOG (bearish) for the DOW Jones. Volumes higher and spreads are tighter reducing “slippage”.
Teddi KnightKeymasterCAT stock broke its 3 year trend today. If it does not bounce you could immediately sell in the money covered calls in the hope of being assigned shares and getting exercised out of those shares. I do that type of trade often. Otherwise you can roll lower.
Teddi KnightKeymasterI have no plans to roll my $35 puts yet. You have to decide if you would own it at $35. If not, then you need to work with a stop-loss to decide either to roll it down when it hits your stop-loss or buy it back and take the loss to get out.
It comes down to having a plan. Work from a plan and your trades fail far less often. I am waiting for a bounce back or I may accept shares. But I am selling puts at lower strikes.
Jan 28 2015 at 1:33 am in reply to: Right time to roll Procter and Gamble Stock (PG Stock) / Buy stocks #15634Teddi KnightKeymasterThat’s a very nice trade. At $80 for the leap you can still roll it even further as the year progresses, should we enter a period of a longer decline. I really like PG and when you look at the chart the stock remains in an uptrend. It will have to break $84 to end the current uptrend.
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