52 replies to this topic

[opinionated]

Went short 2154 ES. I quote ES but I trade IWM in 123.50p @.38

[risk_management]

Since O trades options and we are talking about trading on this thread, I had this option trade going on last two days.  Bought OTM SPY puts expiring today for .13  yesterday morning, watched them hit the high of .69 during the day yesterday, held them into close and overnight, and watched them expire worthless today.  Yesterday's down day was almost a lay up but I misjudged the rest.  I expected gap down and go and that's the reason I held overnight.  But one should rarely, if ever, do that since theta so close to expiration is brutal.  Anyway, trade management was not applied and that's the core issue for this particular trade.

 

Weeklies give you tremendous leverage with limited risk.  With introduction of wednesday expirations, even more so.  I believe small edge can give you exponential returns. I just wish they would introduce them for few more asset classes like bonds and metals so one can choose from bigger pool of set ups.

[Len]

Sell signal on 60 min. chart. My order is 2153.25 short es. my stop is 5 points. i don't like overnight positions. they can be taken out very easy. my order was executed.

[kssmibotm]

Since O trades options and we are talking about trading on this thread, I had this option trade going on last two days.  Bought OTM SPY puts expiring today for .13  yesterday morning, watched them hit the high of .69 during the day yesterday, held them into close and overnight, and watched them expire worthless today.  Yesterday's down day was almost a lay up but I misjudged the rest.  I expected gap down and go and that's the reason I held overnight.  But one should rarely, if ever, do that since theta so close to expiration is brutal.  Anyway, trade management was not applied and that's the core issue for this particular trade.

 

No criticism intended here.  If I were to trade options with 2 days to expiration, I would go for the home run.  So, I see nothing wrong with holding on for the big payoff.  The only thing different that I would do, in hindsight, would be to sell half the position at 2X or 3X gain, and hold the rest for the home run.

[Len]

my target is 2140

[NAV]

Sell signal on 60 min. chart. My order is 2153.25 short es. my stop is 5 points. i don't like overnight positions. they can be taken out very easy. my order was executed.

 

When i trade the ES, i don't keep STOPs overnight. I place them only during the day session. It's very easy to run stops overnight.

[Len]

Thank you, Nav. basically I agree, but to leave ES overnight without stop can just kill you.  I'm taking from my personal experience.

[Len]

My bracket order is 10 points. So my buy order moved to 2143.25. I might cover before.

[Len]

I moved my stop to break-even. I will be busy this morning.

[SemiBizz]

Well....some of us have also been looking at GDX...

 

Just want to point out the gap fill at 22.77, adjacent to the high volume gap up day on 6/3

 

You could find a pack o'hounds buying there...

 

Have a great day !

 

 

Here we are 22.80 low Pre-Market ...

 

Sure looks like a nasty storm and I'm not talking about Hurricane Matthew.