bought 29/28/27 puts of CDE

Discussion in 'Options' started by trader198, Sep 18, 2012.

  1. my reason is overbought. it hits the resistance, ready to drop hard. go up fast and steady, go down violently. it is still an up trend.

    I think the sharp drop is just around teh corner.
  2. Might be a bit too early... SLV/GLD also overbought ... but could go higher.

    How far out did you go ?
  3. all red, just when get in it is green. feel not good. I think you are right.
    I bought EGO puts. seems EGO is ready to short. CDE is too early to short. I suspect you are right. maybe hit 30+, then those guys want to dump.

    a lesson is learned. wait and be patient.
  4. patients is the biggest payer..
  5. I do better w 4-7 months out puts - if a stock goes higher I can add another put or a higher strike or another maturity.

    The Euros are going to print ... that should drop Gold & Silver - look at charts of FXE and GLD in the last year you'll see GLD came down when FXE was down.

    I do like your CDE idea over GLD/SLV puts though. CDE has alot more potential things that can go wrong.

    I can't see the Euro holding 130 ... too many bad things can still happen in Europe.
  6. CDE/EGO performs weird.

    looks they are in a pullback (range band), and I do not buy pullback (lots of pullbacks just reversals). USO is a good example. USO's drop reminds me: CDE/EGO 's drop is just around the corner. I think lots of CRUDE buyers in this week get crushed. do not trade obvious!

    all my puts are in red so far, but I stop adding. when it turns green, I may add. looks I am early.

    patience is the key. I just wonder who the suckers to buy at those levels.

    when things so obvious, like a nice trend well defined, always mean opposite.

    normally I trade in the direction of the obvious, but in this case, I take a contrary view. reversal is a process, needs time.sometimes, quickly and vilently. CDE/EGO up so quick, go down will just 1/2 days.

    I rembered FSLR did this just weeks ago, it doubled after earning, then everything looks so normal, it kind of rush toward 30, actually I am thinking buying 27 calls, then in one day it suddenly dropped 5 points, puts of 25/24/23/22 all printed more than 10 folds gain. I was shocked.

    this image of shock made me see CDE/EGO drop may happen like that, I feel it is real. maybe just my illusion. I hate to be suckers. but also I hate to go against the market. since all hurts.

    everynight, SILVER/GOLD dropped, then some guys pumped it up in the opening. I better trade the future directly.
  7. I remember trading cde way back when it was in the $4 range. I'd. Wait till 30. 40 is even better
  8. only made some on EGO. I lost all my puts in CDE. there is no bid at all.
    EGO bailed me out with some gain, I bought some 16 at 0.25 (yesterday).

    big loser in CHK too, all lost no bid any more. CDE sometimes show bid, not bother to close, just wait to see tommrow how it works.

    the good thing is I am well disciplined, did not average in more.

    I think I need focus, opened too many trades and too soon. get to learn to foucs.

    I will shift my focus on day trading, swing trading sometimes easily let myself preoccupy with a trade. like the chk trade, I should close it when i realzie it is a mistake (thought to breakout 19~21 range). in reality it is a range band, and CHK may reverse and trend down.

    I will forget CDE/CHK as quick as I can. cheer, good trades always there.
  9. Were you trading Sept expiration ?
  10. just worthless, it is september 21 expiration.

    compared to my big winner in KBH, and my BZH september in my retire acount, I am far ahead and just laugh. a great week.

    bought 10k EXM stocks with no expiration, intially though to buy some 0.05 1 call, but feels if I do not time it correctly, I lose. so choose the stock, safe

    #10     Sep 21, 2012