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10-30-2014, 03:30 PM
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#61
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tmrpots
Join Date: Jun 2008
Posts: 2,285
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Not having traded in a long time I am really rusty. I've made so many "technical" errors it's comical. Made another beaut today.
Was going to roll up my December M3 and ended up closing out my November.  Just as well I suppose, I was badly underwater on that one. I don't really know how much I lost. I'm still swimming around trying to figure out all the ins and outs of IB. The numbers are in there somewhere.
So after that debacle I ended up rolling my December M3 up 40 points and now it looks like this. (I actually made a small profit [I think ] closing that out.
New position:
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10-30-2014, 03:59 PM
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#62
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,533
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I should probably roll up my Dec...1150 is the point where I should roll...but...the market came back a little bit at the close...sitting at 1155 with a minute to go...I'm going to hold off until tomorrow on that one...
As for November, there is no point in getting rid of it at this point...will just keep my hard stop loss in mind, and if it doesn't hit that, then I will let it roll around a bit...still owe this thread some screenshots...November is probably off the screen by now...
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10-30-2014, 04:04 PM
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#63
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,533
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And by the way, I got into my December trade as easy as I have ever gotten into a trade like this. I must have messed something up...when I was about to enter the trade, the midpoint was (I swear) around 9.60-9.70...I put my order in for 9.65 and was almost immediately filled at 9.29...it was very weird.
And it wasn't like I had to have screwed up, because if that were the case, I would have immediately been down on the trade, but I wasn't...
What I think must have happened, was that I wasn't paying as much attention as I should, and while the 9.60-9.70 was what I saw on my screen, it was probably one of those "fakey" type midpoints...these things have a tendency to jump every so often to prices that you KNOW aren't all that valid...that must have been what I saw, what I entered, and was so far beyond the norm, I got filled immediately at the true midpoint...
Entering and exiting these trades can be a bitch, as you well know...
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10-30-2014, 08:17 PM
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#64
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tmrpots
Join Date: Jun 2008
Posts: 2,285
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Quote:
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Originally Posted by PaceAdvantage
And by the way, I got into my December trade as easy as I have ever gotten into a trade like this. I must have messed something up...when I was about to enter the trade, the midpoint was (I swear) around 9.60-9.70...I put my order in for 9.65 and was almost immediately filled at 9.29...it was very weird.
And it wasn't like I had to have screwed up, because if that were the case, I would have immediately been down on the trade, but I wasn't...
What I think must have happened, was that I wasn't paying as much attention as I should, and while the 9.60-9.70 was what I saw on my screen, it was probably one of those "fakey" type midpoints...these things have a tendency to jump every so often to prices that you KNOW aren't all that valid...that must have been what I saw, what I entered, and was so far beyond the norm, I got filled immediately at the true midpoint...
Entering and exiting these trades can be a bitch, as you well know...
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Actually, I exited and entered my trades today above the midpoint. In other words, I got a better than average fill. Instead of starting out at the midpoint I started well above and worked my way toward the center. I was kind of surprised. Maybe it was because of the volatility, I don't know.
But what I do know, on IB anyway, is that there were some freeze ups on certain contracts and prices that weren't moving with the market. I don't think that was the case with my trades that got filled, but it was the case with a different trade I was trying to make earlier on. The price was frozen on the option even though the stock was moving.
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11-03-2014, 12:53 AM
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#65
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,533
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I got out of my December trade with a $54 loss total, including commissions...I will open another December trade later today...
As for the November trade, which I told you I'm holding on to come hell or high water, for no other reason than I'm stubborn, here is the ridiculous screenshot...I'm actually losing less money on the trade now, because it's blown up so much to the upside...
Last edited by PaceAdvantage; 11-03-2014 at 12:54 AM.
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11-05-2014, 03:20 PM
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#66
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tmrpots
Join Date: Jun 2008
Posts: 2,285
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December M3. Lookin good in the neighborhood.
Had I kept my Nov position this is what it would look like now. 
[When you hover over an image and right click/view image it takes you to a very tiny image instead of the tinypic webpage where you can see the image clearly. I have no idea what I'm doing wrong.
The other alternative is to copy/paste the image or use your interface, but that makes the image so large that you have to scroll clear to Kansas to see it all.]
Last edited by barn32; 11-05-2014 at 03:32 PM.
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11-11-2014, 12:02 PM
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#67
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tmrpots
Join Date: Jun 2008
Posts: 2,285
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Entered 2nd M3 for Dec today with 38 days to expiration. (Finally figured out how to size images properly.)
Last edited by barn32; 11-11-2014 at 12:15 PM.
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11-11-2014, 12:03 PM
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#68
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tmrpots
Join Date: Jun 2008
Posts: 2,285
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Here are the Greeks.
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11-17-2014, 03:38 PM
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#69
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,533
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Update:
I sold my November IWM call because I thought the market looked toppy on Friday...the RUT butterfly that went along with it, at that point in time, was worth about a nickel, so it wasn't worth it to try and get rid of it...lol...so I am still hanging onto that in case the market crashes this week (Friday is expiration). But, barring a complete market meltdown, my loss in the November trade will be a little less than $400. If the market crashes, that loss might decrease...
My December trade is doing well, currently +$200 or so (I'm including the earlier $54 loss in that figure when I rolled up), so 40% of my profit goal with 12 days to go until I'm supposed to get out no matter what...
Last edited by PaceAdvantage; 11-17-2014 at 03:41 PM.
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11-19-2014, 06:06 PM
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#70
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tmrpots
Join Date: Jun 2008
Posts: 2,285
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It's really said I made so many mistakes with this trade the least of which was exiting by mistake. I ended up losing about $400.
Had I stayed in, (and yes, it's just a few days from expiration), and even with all of the adjustments, it's showing a $1200 profit as of close today.
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11-25-2014, 03:20 PM
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#71
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tmrpots
Join Date: Jun 2008
Posts: 2,285
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In the interest of full disclosure here are my positions as of 11/25/14:
I rolled my first December M3 back 30 points today. I lost about $200 on the spread roll, but I'm up around $600 on the hedges, so that makes me up around $400 as of today. The position looks like this:
My second M3 is right around even and I haven't made any adjustments. I'm outside of the tent, but the Delta is fine so no worries.
And today with 52 days until expiration I started a January M3, but this time I'm doing two lots.
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11-26-2014, 07:38 AM
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#72
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tmrpots
Join Date: Jun 2008
Posts: 2,285
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Quote:
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Originally Posted by barn32
My second M3 is right around even and I haven't made any adjustments. I'm outside of the tent, but the Delta is fine so no worries.
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Actually, I did make an adjustment here. I was slightly out of the box and my delta was getting too high so I added in an IWM five lot 1200-1220 vertical call spread.
Which made the Greeks look something like this:
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11-26-2014, 05:21 PM
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#73
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,533
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The rules state I am to get out of my December trade on Friday, which I will do, before 1pm (early close day). As of today, I am at about break even on the trade if you include the earlier ~$50 loss and commissions....my delta started inching over 10 earlier this week, but with such little time left in the trade (if I am to honor the "exit at 20 days until expiration" rule), it wasn't worth it for me to try and adjust...
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12-01-2014, 04:14 PM
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#74
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,533
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OK, redboard here...when I checked the markets at about 12:15-12:30pm on Friday, the market was down a bit and my position had increased modestly...I decided to hold over the weekend and see what happened today...
Well, today was pretty nice...very nice in fact. I was able to get out with a $473 total profit for the December expiration (including commissions and the ~$50 loss on the earlier December attempt that failed and had to be rolled up).
I also got into my January 2015 spread today and will try and post a graph of that later...
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12-01-2014, 08:41 PM
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#75
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Registered User
Join Date: Mar 2007
Location: Manhattan
Posts: 3,826
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Quote:
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Originally Posted by PaceAdvantage
OK, redboard here...when I checked the markets at about 12:15-12:30pm on Friday, the market was down a bit and my position had increased modestly...I decided to hold over the weekend and see what happened today...
Well, today was pretty nice...very nice in fact. I was able to get out with a $473 total profit for the December expiration (including commissions and the ~$50 loss on the earlier December attempt that failed and had to be rolled up).
I also got into my January 2015 spread today and will try and post a graph of that later...
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How much did you risk? In other words, what were the odds?
Btw, here's a way to red board without red boarding.
__________________
“Life does not ask what we want. It presents us with options”
― Thomas Sowell
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