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Option Addict

The first hit is always on the house.

OA Buy: TC

I am Long of $TC at $3.60 per share.

Update: For a day trade, I have my attention directed at $POLR.

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Dear Friend,

Dear “Anonymous”

Yes, you. The guy who thought’s it was appropriate to email me and complain mid-day while I am dodging landmines in a Dow that is now 200 points cheaper than it was yesterday. Yes, you. You picked the wrong day and the wrong tone.

Don’t be the guy that calls into customer service claiming that his butt plug doesn’t fit. You aren’t getting a refund.

If you are in longs that are not working out for you, remember that losses are a potential outcome. Either let a trade work or have an exit plan. Don’t attack me wondering what you should do now. Read up, son.

Now granted, have each of my trades been profitable in this environment? No, of course not. But I think it is important for you to realize that the majority have been. More importantly I’ve produced far more profits than losses since starting here. If the only two trades you picked didn’t pan out, your picking might be flawed, or you need to revisit your own preferential biases that attracted you to losses. Or simply “unfollow me,” for you might not belong.

I am trying to share my thought processes, experience (both good and bad), and ideas with you here. That said, I am here to help. Ask my opinion. Ask for suggestions. Do not however, pick one trade and then blast me if it turns into a loss. I didn’t click the “submit” button in your account. You did. Therefore, use a reasonable amount of money. Have an exit plan. Know what you are trading.

For those of you that read, I write to teach. I like to help. Take this as an opportunity to leave a comment and ask about my trading style. Ask about a trade. Ask me anything. I think this would be a more appropriate approach than sending some bullshit email.

As for “anonymous,” I offer this for help with your trade loss…

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OA Sell: TZA

Off with the hedge.

I’ve taken Jun Calls in $UA and Wkly Calls in $AMZN here.

Let’s get it.

 

UPDATE: SOLD

MNST Calls- +.25

GRPN Long: +.39

ZNGA Long – -.34

 

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OA Sells

Here are my sells this morning:

AMZN +285%

NFLX +35%

SODA +210%

COOL -.09

Like an addict, I might hop right back into AMZN and/or NFLX. I also have my eye on GMCR today.

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Capitulate, Please

Three charts I have my eye on, into this weakness, into the close.

pcln0604

ua0604

amzn0604

I am close to booking my gains in TZA, fwiw. If the Russell can’t break it’s multi-week range, while all the others have…I shouldn’t stay too long.

Update: $NYMO -95

 

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OA Buys

Thus far today I have taken the following positions:

$NFLX Wkly 230 calls @ 1.85

Long $LEDS stock @ $1.62

Looking for a spot to book my $SODA calls. Hoping for 300%.

Where the Russell has illustrated a positive divergence to time a tradeable low, it is soft here while others lead. Right now the ES and NQ are at days highs, while he TF is not. This tells me I can afford to be patient and take meaningful risk into weakness down the road. As prices push higher today, I am looking to book a few more gains, raise cash, and wait for better opportunities ahead.

I’ll post a few more trades in a few.

 

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