I sold TZA for 125% gain (calls).
FLASHBACK to last week: As seen only in The PPT
Joined Nov 10, 2007
23,469 Blog Posts
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ole
goulet
But the fun has just started
Never question the PPT.
congrats on a good one
Surprised you didn’t wait for S&P @ 1300…then again, I sold mine earlier and missed some of the good stuff.
Not sure why you messed with the August calls…weekly’s are where it’s at…bought at $1.05 yesterday, sold the last of mine at $2.95…and like I said, they are still screaming higher as I type.
Another thought, as you dive into the world of options…next time sell the higher strike…worst case you get to enjoy upside through the value you sold…in a best case, maybe the market comes back a little, you can buy-back the short calls and then continue to ride the long ones as we go lower.
good call
I don’t do charts.
Fly, that’s a good question I’ve been wondering for a while…I know you’re not a chart-ist, and of course your have your algo, but wouldn’t a blend make sense at times like this? For example, if TZA registered overbought today and/or you saw something else, why not glance into Chess’s world and see where “the market” is likely heading…in this example, you know overbought can last a while, so use the charts or other magical powers to hold on a little longer.
As an advertisement to those considering the PPT, I am not a subscriber, as I’m still debating its merits against my own work…HOWEVER, the other day I had an idea and I decided against it…I later found out the PPT nailed this stock, and had I been a sub, I would’ve made 10x the cost of an annual subscription, assuming I put the trade on (and exited) as originally planned. Hence I will likely be a member shortly.
Rosen
Inside 12631, Chess and RC use PPT tools and integrate their TA work. I am simply not qualified to offer TA advice, as I have never studied it in great detail. They are great.
I’ve noticed…if I buy one I’m buying both…
ahem… financial advice to whom are you providing?
For less experienced option traders: please avoid weekly options unless you expect to lose 100% of your investment. You have to NAIL the direction and the time frame in order to make money. Most traders can’t get one of those right.
Debit spreads, however, while they always seem to work better on paper, are a good way to hedge risk.
If there was ever a time to use weekly’s in order to capture a potential event, this week and next would be the ones.
I’m waiting to see how next week’s are priced, but with expiration not too far away, a calendar spread might be a good option, especially for getting long…sell the weekly, which should have a ton of volatility priced in, and buy the monthly…if the market goes down you can cover; if it goes up, you will still have the time spread, plus it will take a much greater move to “lose” on the short side since prices are elevated.
get this guy a blog
SHOMP!
No joke, my PPT subscription just paid for itself… and for the next decade… and it hasn’t even been a month.
The horror…the horror…
http://www.youtube.com/watch?v=aNUr__-VZeQ
r u sellin bpfh?
no
Can someone tell the Aussie Bulls that the RBA won’t raise interest rates no matter how big their CPI numbers get..thank you. Plus, did you see how good my little US Dollar did today after holding that 73.50 support from yesterday.
hey, what is it ur trading?