...still not in the clear, its why i dont like euro-style, lets see what happens,....ive been burned before....
Yeah. Euro-style has nothing to do with it though. It's not like an American option would be any different. But he does have unhedgable risk to tomorrow morning. He is in a better position right now than when he was 5 points in the money.
I could pull a ForexForex here and say it was only a paper trade. Haha! Mind you, I can take the loss tomorrow morning. Only a couple contracts- break even is at 2719 ish...
--------------------------------------------------------------------------------- Analyzing the above SPY April 141 put trade that the new program spit out for 03-21-12 and comparing it with the SPY data on 03-21 & 03-22: 03-21 *APR140C 2.42 2.46 2.46 2.12 2.20 2012 *APR141P 2.42 2.30 2.63 2.17 2.45 03-22 *APR140C 2.20 1.73 1.92 1.61 1.76 2012 *APR141P 2.45 3.03 3.40 2.87 2.92 It appears it was correct on market direction but over zealous on entry discount. I literally could have bought the open at 2.30 on 03-21 and sold at the next day's (03-22) opening price of 3.00 (+30%). I am just thinking out loud and taking notes for possible programming revisions down the road.
I made a mistake by not locking in the 60% of expected profits before the midday rally ended and began diving. I always forget Ib pattern day trader rule. But the reversal and late rally in the last 30 mins gave me some hope. The reason I said I didn't like the upswing was because it could habe just as easily given up those gains. This will be a lucky trade for me. O well I've needed one for a while now Will use the proceeds to finance some long gamma positions... Next week might bring out some crazy animals.
I´m finding that now I am watching stocks, that my indicators ( home made ) don´t work at all in stocks, like they do in an index. Must be because of the large number of stocks you are averaging, or whatever. Whereas the players with a stock, are all over the board. This should please Don. I can do credit speads, iron condors, and now trying to do calendars. So Im at least pondering trading SELLING options. ( grin ) I do not know why I could not do what I wanted with that calendar today. In TOS. a) -set the SELL PUTS for the March ( 8 ) days left weekly to end of month. ( bid ) b) Then the other half comes up for buying puts in April month. ( ask ) c) All at 67 strike in QQQ today. ATM or as close to it as possible. It did give a suggested limit order of 9.58 or something and I changed that to 10.05,which is better than what I got from the option chains Anyway it rejected me. Will try again tomorrow.
LULU must have reported EARNINGS after the close. It opened down 5% and then by noon, went up high 2%. How can you trade something like that? - KBH tomorrow has earnings I´m watching. -