Thanks Iceman for that nuggets of wisdom. After capturing bearish moves in BOL, KOSP and other stocks, I think I'm now ready to inject 100K to the market. Goal for 2006 is $1.2M.
you're welcome m/option lofty goal you have for 2006---- but why not aim high! good "luck" in achieving the goal! (by the way - please don't hesitate to PM me if you ever have an excellent trading idea you're willing to share- & I will reciprocate)
[/B] Iceman - I have been reading your journal with interest. Sometimes I think your 'legging' into partial hedges seem to contradict your primary expectation for the underlying. Also, some of your trades seem to contradict the above quote. Do you have a spreadsheet or a listing of your P & L's by each underlying on this journal? If so, I think it would help me (us) better understand some of your moves. BTW I am beginning to think uninvited guest may be correct on his read of multioption. You might want to be careful on his PM's. Wayne
I doubt "uninvited_guest" was correct about much - as all he seemed to do was criticize others without putting his own ideas out there for public scrutiny. In 2006 - I hope (intend) to be able to update this Journal in more earnest with consistency and indicate pnl as you suggest. right now, I still have a lot of other open positions that have not been posted here - some of which were rolled over from Dec expiration. so in what way do the few trades I posted so far contradict the Douglas quote and/or expectations - I am always interested in serious input that may prove enlightening - otherwise why start a Journal in a public forum?
PD bought 2 PD AK @ 1.65 (Jan 155c) order buying 2 @ 1.40 will look to spread spread against 40c or 45c
closed 5 COP Jan 60c @ .50 (+310) still -5 Jan 60c @1.23 order entered to re-sell Jan 5 60c @ .90 order buying 5 COP Feb 60c @ 1.10
order selling 3 HUM Jan 55p @1.70 order selling 2 HUM Jan 55c @ 1.70 order selling 5 HUM Feb 45p @ .40
bought 3 COP Feb 55p @ 1.17/ sold 3 COP Jan 57.50p @1.23 will add 2 more -- then --- will look to exit my +5 Jan 57.50c bought @ 1.85 - for >$2 reverse direction and sell them short -- ratio 1.6/1 -while intending on keeping remaining -5 Jan 60c sold @ 1.23 until expiration. looking to enter 12 Feb 60c @ <1.15