mange profitable directional options

Discussion in 'Options' started by zxcv1fu, Aug 17, 2006.

  1. zxcv1fu


    after the option doubled. See the attached filed that I copied from the option trader magazine aug issue.

    Since the whole month issue is too large, I had to convert it from pdf to doc file. Then copy and paste to get the article out under ET file limit. Do not think that I am doing a good job converting the file since a few figures may be missing. I changed some file configuration for my easy reading. The article covers the strategy more complicated than usual. Is it the best way to manage the profitable options?

    When my options move up to more than doubled I usually take partial profit to get my capital back with some profit. Sometimes I took the whole profit if I think it is going to pullback & buy a strike out later. For example of AET aug 35 calls that I bought @ 0.2 on 8/2 while the stock was @ 32.17. I took profit at 2 different time @0.5 & 0.77. The bid is 1.30 now with 1 more day till expiration. So taking partial profit left too much on the table. I can not help to think that there must be a better way to manage the profitable options.

    Moving forward I have 4 different YHOO calls. 3 are over doubled except aug 30 calls that need a good movement today & tomorrow. Right now the bid is 0.

    We can use Oct 30 calls as a case study to keep it simple. I bought them on 7/20 @ 0.55 when YHOO was @ 25.2. Now the option is @ 1.30 bid.

    I am not interested to leg into calendar spread since it is a directional trade for me.

    Thanks for any good idea!
  2. Why not just link to the whole magazine? It's free anyway....

    I should add I have no idea what you're talking about -- are you asking a question, posting information, what?

  3. Would you mind to share what usually are the considerations for your directional entries? Are you scaling in? TIA.
  4. zxcv1fu


    I am asking input to improve my managing option skills cause I know some ET members are very knowlegeable in option tradings.

    This thread is not about how I pick my trades since I have not seen option trading training service covers my kind of trades. Althought I read last week about Jeff Clark's S & A Short subscription service is similiar. After reading some of his monthly newsletters I am not quite sure since he did recommend LEAP which I will never do.

    I am not an option expert, just an option trader wannabie:cool:
  5. zxcv1fu


    I tried to find my download link email but could not. You can do a google search for the site. Then subscribe it free so u can download.

    Can not upload the magzine since it is over ET file limit.
  6. zxcv1fu


  7. zxcv1fu


    I am disappointed that no one has posted any good strategy suggestion in this thread.

    Meanwhile I have requested TOS guru to help me with this issue.
  8. Bittman has a whole chapter of "Alternatives for managing a profitable position" in his book.
  9. zxcv1fu



    I only have 1 of his books, it does not have that chapter.
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