After Hours with Option Addict members, the room is open. In spirit of the long holiday weekend, we are now up and running. Starting early, so you can get to your weekend plans.
See you inside,
OA
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well, the portfolio has been tented. like after a raid can bomb going off, all the worthless options are being swept away into the trash likes termites and cockroaches.
fresh start on monday.
Danny1980 – I missed your comment Re $RMBS earlier. Man, it is in that zone. Denial, here we come!
still says i have to pay…SCAM
Damn going over some stuff and saw that at 10:30 today had you bought the $545 CMG put YOLO for .01 you could have sold before market close at $17…..wow
said the degenerate options gambler. always in search for the next lotto ticket.
borrowed from the library front lines “To catch a trader” DVD…fascinating info on insider trading and the investigation/charges against SAC and its managers. Cohen only had to pay $1.8 billion after building personal wealth of at least $8 billion. His hedge fund would charge 3 and 50 vs. the industry average of 2 and 20…meaning 2% charge for assets under management and 20% of profits. So he charged 3% and kept HALF of the profits. Expensive but it was worth it because after all those charges…for multiple years, his return was 60%…so as an investor you earned 30% after all fees. They paid the highest commissions in the industry which afforded them “first call” basis for any info that would move stocks.
I recommend you watch it if that interests you at all. It was great learning about how they built a network of insiders and utilized a third party as the liaison to facilitate some of that insider info. They would literally get phone calls just minutes prior to upgrades/downgrades and mint fortunes based on that…same with clinical drug trial results. We all know it still happens today, and this DVD was great for getting an in depth perspective into the hedge fund life cycle and investigation into Cohen/SAC.
correction, might have been the firm that had to pay $1.2-$1.8billion in a settlement, instead of Cohen…unbelievable how he can claim ignorance on all the insider info and keep that wealth.
That is the worst part of this corrective tape. The scumbags(hft as well) being brought to light. It just sounds dangerous to fuck with the game makers and not expect a tape heart attack of some kind. Not exactly a normal wall of worry.
Holding Yelp and FCX and shorted gold at the close 1294.8. Held off buying any else. Need to see how the market acts on Monday.
Enjoy the 3 day weekend!
PLUG maybe FCEL next?
Hello out there???/…lol
Yep pretty quiet. I might have to exit the room if I don’t get my shit together here also…
how you feeling jeff? everything come out ok?
we’re like lost little puppies….
Or dangerous teenagers. I’ll get the flamethrower.
party at Jeff’s house1!!!!!1!11!!
I took a Short term SPY put at 186.88. For .27 184’s
Good luck, Danny! I’m looking at that UA put here, but the spread here is atrocious…
If it breaks HOD I’ll cover
Out half Yelp +3.5.
tough spot for the market here. I’m starting to see a number of inverse etf set up. I think you have to be a little careful here.
trying a short here 48.5 NQ. Very Small position
out 44.5 +4. Silly trade. Time to pack up for the day. Holding gold short and long FCX and half yelp
Here’s some long ideas that are pulling in or flattish today but aren’t broken:
plug
splk
wday
data
dang
gme
yge
scty
I’m long a few of them.
Buying ol’ girl down here before Wednesday’s AMC earnings mighty tempting.
For those interested I closed my SPY puts for a small loss and Opened some $1260 stiles in Priceline Aprils
Not stiles CALLS damn how did that happen
out gold +2.5. Will revisit again This thing is gonna break at some point. See you guys later
is the OA group dead? is TA on?
hello?
Jeff, are you back or still in recovery is what everyone wants to know. Hope you are well.
Indeed
A post created 5 days ago and only 33 comments? This place used to be the talk of all iBC.
soooo. if you were out pimping WFC short as “good risk/reward” a few days ago, how is that analysis holding up now? ..frankly, good R/R is being accountable for your trade and doing a horizon analysis, if youre gonna recommend it to others
I think we’re beginning to see wall of worry, which I will avoid playing because a) I’m not in it already and b) high IVs make options too expensive at this time. I’d like to think that the wall of worry rally will bleed off the price of the option itself. I look forward to aversion next week in some of these names, which I will then start initiating June positions.
yeah i agree with that, im taking the TNA off, think we’ll catch some resistance here, and look to add to some favorite LT stuff on a retest + plus another TZA/TNA range trade..maybe TZA here at RUT 1158/1160
azul, I think TNA trade could be good for another 5 points on the Russell. That was the last swing high a couple of weeks ago. I think maybe a gap up open someday this week around that area would probably be sold off. Best of luck!
i think thats entirely possible….ive been a bag holder a couple times here though..
Should’nt have sold gold so early but I’m all out yelp with a fill of 68.85 +5.8. Win some you lose some. Only position I’m holding right now is FCX
Bought BAC calls this morning. May 17’s. Chart looks good friends.
Sucks OA is still out, hope he is doing well.
We still can make some money though. Hard to chase most of our usual names today, but take a look at YELP GME and TWTR. All 3 are constructive and still fueling rockets on intraday and short term time frames.
Ditto on OA, hope there is some sort of younger nurse involved. When do you see getting into those? There were some names that have bought up, and that bloop (plus some serious yips on my part) tells me to wait. Time to be aggressive?
for those names I’d say if you wanted to be agressive with stock you could…but I wouldn’t open long option positions on them today other than for a scalp. Better off in the long haul sticking to precise entries imo. twtr already up 4 of 5 last days, beyond 10% move. Patience when initial moves are missed.
Thanks Yoshii, I’ve had huge problems with overtrading this market on the options side. Just need to focus on the stock side and continue to make gains there, at least in the near term.
YELP should reclaim 200d today. Very easy to manage.
I bought stock. OA has still be wary of a lot of option plays given all the chop.
@Charlie – that’s what I’ve been doing – equities rather than options – at least for now
Thanks charlie and cheese. I’m here specifically to learn more about options, so it’s tough for me to not get right in there and start learning hands and cash-on.
I know some people think stops are evil, in which case, yes, they can be manipulated to cheat you out of a position…but they can also save you from blowing profits or suffering big losses. I got stopped out of OAS yesterday, which I’m fine with because it went on a decent run. If we are in an environment where you lock in quick gains as opposed to allowing them to run, you also have to be quick to cap the downside. Whenever that changes, and we can allow our winners to run more, then you can allow for more wiggle room to the downside as well. Its not exact science by any means. The main point being if you are going to cap winners, then you have to be quick to cap losers too. (This main point is nothing new, I’m sure I’ve heard OA state something similar).
not in it, but ATHM does look like a floor has been put in, likely to run to 40 and see what happens there. setting up against today’s resistance high…having moved already 5%. So for an option, looking for a possible retest in the coming days…hoping to buy down, not up.
next time you are about to post, stop for a minute, and then dont
May God bless you and give you the strength and wisdom to handle whatever adversity you may have or will have in your life going forward.
PLUG okay here if you only want to buy something on sale. At the lower end of it’s range, unbroken. (no position)
KBH still cheap
my largest position is FSLR jan15 $75’s….i’m thinking my new strategy is to make it my only position. lol