C-grabbed some SEP 26 puts when this was trading at around 26.40s. Just broke the intraday support of 26.50 and it looked like the support turned into resistance so I took a chance, thinking it’ll retest the lows from a couple weeks back, 26.25. If it didn’t break 26.25 then I would’ve called it quits. Not sure why the banks have been so crappy—worse than everything else. While the markets had huge range all day, up and down, C just had one direction, down. Would like to see another gap up and panic like today, but I’ll take a gap down to sell into, rebuy puts around 11 or noon if it rebounds but stays red.
CRWV-bought this by chance again—popped into the IU chatroom (www.investorsunderground.com) in the afternoon and saw all the chatter from the buy earlier (sounded like folks were buying at the 04’s??). Saw a pull back to .063s, missed it, but put in a limit for .0635…looked like it was gonna be a missed op for me, but I let it go…trying to stop chasing so much. Well it came back and I filled at .0635. Thing ran up to .07 but I think a lot of us were a little distracted with GS tanking that we didn’t notice CRWV was pulling too…at least I didn’t. Held .06 so hoping a gap up…maybe a slight pull to .06 at the open then…?
Grabbed some more strangles. Main reason was that I think the market is retesting a previous low from a couple weeks ago. If it holds then we start moving up, if not then there’s more downs. A lot of talk about gold being over-extended, makes me think it’ll pull—but once folks start seeing stocks as the thing to buy. Basically, it seems like we’re near the point of another leg down or the real bounce. Which is what makes strangles/straddles work (big moves in either direction). I grabbed the following strangles because at the time their net delta’s were as close to neutral as they could be. The other criteria was that either the call or the put needed to be ATM: LULU OCT 50calls/45puts at 9.10, RIMM DEC 32.5calls/26puts at 6.11, DANG DEC 10calls/7puts at 2.45
Follow the rules: Cut losses quickly; Don't overtrade; Take profits/sell into strength; Don't chase, watch for the pullback; Have a plan and stick to it
View my other posts/give me some advice at http://part-timepennystocktrader.blogspot.com/. Follow me on twitter @BNGESG.
CRWV-bought this by chance again—popped into the IU chatroom (www.investorsunderground.com) in the afternoon and saw all the chatter from the buy earlier (sounded like folks were buying at the 04’s??). Saw a pull back to .063s, missed it, but put in a limit for .0635…looked like it was gonna be a missed op for me, but I let it go…trying to stop chasing so much. Well it came back and I filled at .0635. Thing ran up to .07 but I think a lot of us were a little distracted with GS tanking that we didn’t notice CRWV was pulling too…at least I didn’t. Held .06 so hoping a gap up…maybe a slight pull to .06 at the open then…?
Grabbed some more strangles. Main reason was that I think the market is retesting a previous low from a couple weeks ago. If it holds then we start moving up, if not then there’s more downs. A lot of talk about gold being over-extended, makes me think it’ll pull—but once folks start seeing stocks as the thing to buy. Basically, it seems like we’re near the point of another leg down or the real bounce. Which is what makes strangles/straddles work (big moves in either direction). I grabbed the following strangles because at the time their net delta’s were as close to neutral as they could be. The other criteria was that either the call or the put needed to be ATM: LULU OCT 50calls/45puts at 9.10, RIMM DEC 32.5calls/26puts at 6.11, DANG DEC 10calls/7puts at 2.45
Follow the rules: Cut losses quickly; Don't overtrade; Take profits/sell into strength; Don't chase, watch for the pullback; Have a plan and stick to it
View my other posts/give me some advice at http://part-timepennystocktrader.blogspot.com/. Follow me on twitter @BNGESG.
