iBankCoin
The first hit is always on the house.
Joined Aug 2, 2009
1,847 Blog Posts

Standing Down

I am thinking that markets are going to be in this mode for awhile. As a result, I am a little less excited about using calls to leverage swing plays, because time premium and slow markets are a recipe for a slow bleed in account values.

Rather than carry 10+ option positions as I have been, I am narrowing that down to 6.

Rather than carry 12+ stock positions, I am going to kick that up to 15+.

On the day, I booked gains in YOKU and took a Aug2 915 position in GOOG calls.

I will be looking to take off a few more option trades today and am watching ADHD and NBG for a long.

More later…

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33 comments

  1. sims key

    at the risk of being annoying, what other option trades do you have:

    AAPL
    GOOG
    GMCR
    MCP
    GS

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  2. Shorty

    Buy TZA

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    • Option Addict

      If you apologize, stop acting like a douche, and tell me what a dumbass you were for buying AAPL puts, I will stop deleting all your comments.

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      • Option Addict

        Also, your time stamped recommendation above to buy TZA is again, losing money.

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      • Shorty

        ok. The APPL puts were a good bad idea when I posted them AFTER the run up after earnings. This is good news as I am running out of monikers.

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        • Shorty

          actually, I called July 19th as a potential turn date – and what have the markets done since then? They certainly have stopped going up and are actually down a tad. Let this play out a bit longer

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          • Option Addict

            Russell gapped up and exploded on the 11-12 turn dates.

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          • Shorty

            Russell is out of gas. Huge underperformer the past 2 sessions. IWM will have an 8 handle within the next 2 months

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          • Option Addict

            Bro, you said that in June. Can you pick stocks here rather than be wrong about the market all the time? You can stay if you keep your horrible market opinion to yourself.

            It’s really hard to watch. You are a constant train wreck.

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          • lol

            Truth hurts, but I think admitting it is the first “step” in the 12 step program to recovery.

            It shalt set thee free.

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  3. TheOSU

    I like your idea on LITB and took it for a trade
    with today’s sell off .

    Any thought on a buy /write of HLF with the weekly premiums on the moon ?

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  4. TheOSU

    Thanks ,I bought the common and just sold (14:11:38) the weekly 60s for 3.40.
    59.72 for the common buy .

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  5. TheHarper

    Hey Dre Dog,

    What’s our stop on $ZLC?

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  6. StocksRider

    Question on SCTY vs FSLR calls. FSLR’s historical vol to curr vol is higher. However SCTY’s curr vol to historical vol is much higher. They both have earnings within a day of each other (8/6 and 8/7). If everything else is constant and assuming that they both would go higher, which would would you buy as a front month call and why?

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    • Option Addict

      You know, I don’t really use Historical IV compared to implied.

      How I would decide between the two is an objective price target analysis on both. Pick the one that you think will move more.

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      • StocksRider

        Thank you OA. I love FSLR from long term perspective but right now SCTY seems to have the wind at its back. Going with front month calls.

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  7. ripper

    do you know anything more about NBG? looks like either a 0 or double.

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    • Option Addict

      That was my same conclusion. When is the Greece election again?

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      • Jack Clark

        I also really like NBG here as it looks to have found a base. As of now election is planned for 2016 but may be conducted earlier. Interesting system. Thanks for the education OA

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  8. TM

    Do you still think market will top out when FB hit ipo price which is very close now ?
    emotional peak,,,, ?

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