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12-02-2015, 10:47 PM
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#331
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,589
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There isn't much time left in this trade. Options expire in 16 days.
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12-03-2015, 03:07 PM
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#332
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,589
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Got exactly what I was hoping for today...can't see any reason why I won't close out the trade in the next 30-45 minutes...here's a current picture (was up $1,000 a few minutes before pic was taken...very volatile...maybe I'll be down overall by the time I close it out...lol):
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12-03-2015, 04:54 PM
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#333
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,589
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Trade closed for about half my profit goal...
Code:
Date Time Trade Description Fees Comm Amount
10/29/15 15:21:15 BOT +3 BUTTERFLY RUT 100 DEC 15 1190/1140/1090 PUT @10.30 CBOE -0.40 -18.99 -3,090.00
15:22:25 BOT +1 IWM 100 DEC 15 108 CALL @8.85 BOX -0.04 -10.74 -885.00
15:22:25 BOT +1 IWM 100 DEC 15 108 CALL @8.85 BOX -0.04 -0.75 -885.00
15:22:25 BOT +1 IWM 100 DEC 15 108 CALL @8.85 BOX -0.04 -0.75 -885.00
12/03/15 15:57:42 SOLD -3 BUTTERFLY RUT 100 DEC 15 1190/1140/1090 PUT @13.55 CBOE -0.40 -18.99 4,065.00
15:57:54 SOLD -3 IWM 100 DEC 15 108 CALL @8.61 PHLX -0.15 -12.24 2,583.00
--------------------------------
+839.47
PaceAdvantage M3 Trading Tour 2015
_______________________________
January........+755.51
February.......-359.98
March..........+239.98
April............+795.25
May.............+1,201.32
June............+337.73
July.............+1,458.44
August.........+441.16
September...+1,226.53
October.......+287.44
November....+839.47
-----------------------------
TotalYTD......+7,222.85
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12-03-2015, 06:40 PM
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#334
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Registered User
Join Date: Jan 2007
Posts: 1,133
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Quote:
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Originally Posted by PaceAdvantage
Got exactly what I was hoping for today...can't see any reason why I won't close out the trade in the next 30-45 minutes...here's a current picture (was up $1,000 a few minutes before pic was taken...very volatile...maybe I'll be down overall by the time I close it out...lol):
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Hey Boss, seriously, close out the trade before posting. We will not accuse you of red boarding. Nice call!
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12-04-2015, 12:04 AM
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#335
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,589
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Thanks. I once again (common theme) disobeyed the rules of this trade...but it is so damn forgiving most of the time, it makes it easy to do.
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12-04-2015, 03:13 PM
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#336
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Registered User
Join Date: Feb 2002
Posts: 10,861
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What would have happened if you would have waited until today to close the trade?
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12-04-2015, 04:58 PM
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#337
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,589
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I would have given back all of yesterday's $800+ profit plus probably lost another $200-$300...to put it bluntly, I timed it perfectly...
I am pretty shocked at today's hugely impressive reversal...
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12-04-2015, 05:02 PM
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#338
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,589
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Opened up my December trade (January expiration) yesterday afternoon...this is the last trade of 2015:
Code:
Date Time Trade Description Fees Comm Amount
12/4/15 10:13:01 BOT +3 BUTTERFLY RUT 100 JAN 16 1200/1150/1100 PUT @10.70 -0.40 -18.99 -3,210.00
10:13:15 BOT +3 IWM 100 JAN 16 109 CALL @8.62 BOX -0.10 -12.24 -2,586.00
Not a good day to buy this one early on, as the market roared up, up, up, up, up after I opened the trade...a complete reversal of yesterday's big down day on high volume (today's volume was even higher).
Will be interesting to see if I have to adjust as early as Monday...lol
Graph:
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12-04-2015, 06:08 PM
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#339
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Registered User
Join Date: Feb 2002
Posts: 10,861
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What is the best and worst case scenario for this type of trade?
my indicators are that the market will continue to move higher.
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12-04-2015, 07:00 PM
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#340
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BC Canada
Join Date: Mar 2007
Location: Vancouver
Posts: 2,286
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Hey Boss, following along and learning....thanks for sharing
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12-04-2015, 11:50 PM
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#341
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,589
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Quote:
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Originally Posted by highnote
What is the best and worst case scenario for this type of trade?
my indicators are that the market will continue to move higher.
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Worst case scenario is my $1,500 stop loss. A very unlikely, but even greater worst case scenario is a total loss of investment (the market would have to fall tremendously overnight for this to happen), which would equate to about $5,500 in this current trade.
Best case scenario is my $1,500 profit target.
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12-09-2015, 04:11 PM
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#342
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,589
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Made an adjustment to my current trade. Bought a RUT put vertical to protect myself a tad to the downside as the market was plunging today and my Delta was pushing into the +15 range...boxscore and graph follow:
Code:
Date Time Trade Description Fees Comm Amount
12/4/15 10:13:01 BOT +3 BUTTERFLY RUT 100 JAN 16 1200/1150/1100 PUT @10.70 -0.40 -18.99 -3,210.00
10:13:15 BOT +3 IWM 100 JAN 16 109 CALL @8.62 BOX -0.10 -12.24 -2,586.00
12/9/15 12:53:47 BOT +1 VERTICAL RUT 100 JAN 16 1170/1160 PUT @5.55 CBOE -0.08 -11.49 -555.00
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12-09-2015, 04:30 PM
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#343
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Registered User
Join Date: Feb 2002
Posts: 10,861
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Quote:
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Originally Posted by PaceAdvantage
PaceAdvantage M3 Trading Tour 2015
_______________________________
January........+755.51
February.......-359.98
March..........+239.98
April............+795.25
May.............+1,201.32
June............+337.73
July.............+1,458.44
August.........+441.16
September...+1,226.53
October.......+287.44
November....+839.47
-----------------------------
TotalYTD......+7,222.85
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Nice returns so far!
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12-11-2015, 06:02 PM
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#344
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,589
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Made an adjustment to this trade today. Sold my 1150 Butterfly and bought an 1120. Rules say buy 1130, but I wanted some more protection to the downside heading into the weekend. Boxscore:
Code:
Date Time Trade Description Fees Comm Amount
12/4/15 10:13:01 BOT +3 BUTTERFLY RUT 100 JAN 16 1200/1150/1100 PUT @10.70 -0.40 -18.99 -3,210.00
10:13:15 BOT +3 IWM 100 JAN 16 109 CALL @8.62 BOX -0.10 -12.24 -2,586.00
12/9/15 12:53:47 BOT +1 VERTICAL RUT 100 JAN 16 1170/1160 PUT @5.55 CBOE -0.08 -11.49 -555.00
12/11/15 12:10:29 SOLD -3 BUTTERFLY RUT 100 JAN 16 1200/1150/1100 PUT @14.58 CBOE -0.40 -18.99 4,374.00
12:21:13 BOT +3 BUTTERFLY RUT 100 JAN 16 1170/1120/1070 PUT @12.68 CBOE -0.40 -18.99 -3,804.00
I booked a profit of $1,164 by selling the butterfly, but as you can see by the graph below, my current open position is down $929, putting me at net +235 at the moment (not including commissions). My delta is perfect. Interesting times again? A test of the August lows?
Last edited by PaceAdvantage; 12-11-2015 at 06:04 PM.
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12-11-2015, 06:56 PM
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#345
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Registered User
Join Date: Feb 2002
Posts: 10,861
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Quote:
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Originally Posted by PaceAdvantage
Interesting times again? A test of the August lows?
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The market is acting a bit like August with all the up and down swings. Lost of volatility.
The only option trade I've got is a hypothetical diagonal calendar spread in a virtual trading account. I want to test it before I do it for real.
I bought Jan 117.14 calls on AAPL (weird that the calls are not dollar integers). I sold a Dec 11 weekly with a strike of 119. The short call expired worthless. So I made $540 on short contracts, but I'm behind about $1100 on the long option.
In anticipation of the Dec 11 call expiring worthless, I sold 10 contracts with a Dec 15 call with a strike of 116 for $80 per contract. It gained about $70 today.
I will keep selling these weeklies until the long call expires in January. So I've got about 6 more weeks to sell. Hopefully, the weekly profits will cover any loss on the long call.
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