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03-17-2015, 11:21 AM
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#166
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tmrpots
Join Date: Jun 2008
Posts: 2,285
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Exited my Mar 20, M3 this morning.
The dot about two inches above the 1239 level is where the trade was sitting when I closed it out. It was well outside the tent, but that was not a worry. Adding verticals wouldn't do much for the position at this point, because there wasn't much if any upside profit left in the trade. That made it a good time to exit.
OptionVue says my profit was $930, but IB has it closer to $800.
I didn't get full value out of the trade, (are you ever going to?) but it was one of my better M3s as far as managing the position is concerned. The trade was never really much of the problem right from the beginning. One roll and some verticals were all that was needed.
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03-17-2015, 03:39 PM
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#167
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,450
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Interesting...glad to see you came out ahead.
I haven't done a thing with my April, but it is now pushing the +10 Delta point...I'm not going to do a thing until after tomorrow's Fed announcement...
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03-19-2015, 12:49 PM
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#168
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,450
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Had to add 1 RUT vertical after yesterday's Fed-fueled buying binge...hey, finally a Fed move in the futures market that did NOT include a head fake at the beginning...lol
Current box score:
Code:
Date Time Trade Description Fees Comm Amount
2/27/15 15:58:30 BOT +3 BUTTERFLY RUT 100 APR 15 1260/1210/1160 PUT @11.00 CBOE -0.31 -18.99 -3,300.00
15:58:53 BOT +4 IWM 100 APR 15 120 CALL @4.34 CBOE -0.10 -12.99 -1,736.00
3/18/15 15:58:38 BOT +1 VERTICAL RUT 100 APR 15 1210/1220 CALL @7.94 CBOE -0.06 -11.49 -794.00
And current chart (my delta still high):
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03-20-2015, 12:26 AM
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#169
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,450
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Near end of day Thursday, I added another vertical...which again, only took my Delta down to about 10...I don't want to pile on too many verticals with the price this close to my upper long strike.
Or maybe I do?
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03-20-2015, 02:38 PM
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#170
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Registered User
Join Date: Dec 2006
Posts: 1,336
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Hey Pace,
LONG time .....as luck would have it, I have been studying OPTIONS myself. I come back here to see whats going in the thoroughbred world and I find myself looking at Options 
John
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03-20-2015, 02:59 PM
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#171
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,450
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Hi John,
REAL LONG time...lol...good to hear from you again...yup...we've been branching out here lately...I'm enduring some pain with this trade at the moment...things haven't been as easy in 2015 as they were in 2014...but there is still plenty of year to go...
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03-20-2015, 03:19 PM
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#172
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Registered User
Join Date: Dec 2006
Posts: 1,336
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I have read through the thread, will set up some simulated trades and get a feel for how it works in more detail. Thanks.
John
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03-20-2015, 03:20 PM
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#173
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,450
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What platform are you using?
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03-20-2015, 03:42 PM
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#174
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Registered User
Join Date: Dec 2006
Posts: 1,336
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Tradestation. Looks like you are using TOS.
Last edited by john del riccio; 03-20-2015 at 03:43 PM.
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03-20-2015, 04:24 PM
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#175
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,450
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Yes, using TOS...used to use TradeStation when I was more into trading futures...wrote quite a few automated scripts...
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03-20-2015, 04:46 PM
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#176
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Registered User
Join Date: Feb 2015
Posts: 6
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M3 Community
Hi guys, I've been lurking for a few months, reading your many M3 related posts. Thank you for sharing.
You'd probably be interested in another forum (capitaldiscussions.com) that has a much larger and more experienced community that trades this trade. Best, Lee
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03-20-2015, 07:11 PM
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#177
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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
Yes, using TOS...used to use TradeStation when I was more into trading futures...wrote quite a few automated scripts...
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Do you write scripts for TOS?
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03-23-2015, 01:26 PM
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#178
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,450
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I haven't...have you tried? I got the impression it was pretty limited...
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03-23-2015, 05:39 PM
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#179
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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
I haven't...have you tried? I got the impression it was pretty limited...
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I have not tried and I have limited ability in programing. Several months back TOS announced that they were soon to have “trading off trend lines.” This is a feature that I would love as all of my trades are based on lines. So far, TOS has not delivered on their promise.
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03-25-2015, 04:53 PM
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#180
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,450
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Finally, a day my April M3 can hang its hat on...it so flirted with requiring a roll up, but it never hit that point, thankfully...I will try and post a graph tonight, along with that vertical I added last week that I never posted the details of...
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