Yep. Like shooting fish in a barrel. Like taking candy from a baby. Maybe he meant to say he sold the puts rather than bought them. Maybe he never actually made the trade but just had it on his watch list. Whatever, there will be something. You just know he is not going to fess up to losing $1500 on this trade. ETA: What a tool. Sorry I forgot to put that in my post. I insist on putting that verbiage in ever reference I make to FF. Wonder if I should also insist on doing it in color?
Wow, looking at the 5-day chart (see link below) I'm eerily accurate, although the neutral reactions end up being negative due to run ups. At any rate, I'll stick to hedged positions for now and hope the game lasts a little longer. Maybe if I last a while I'll add a small gambling fund for earnings. I'm still green behind the ears after all... http://www.google.com/finance?q=CMG,+CREE,+SNDK,+IBM,+INTC,+HOG,+EBAY,+YUM,+MSFT
Not holding on the weekend, sold out before profit goal achieved. (Updated excel results, finally back to my March 30, 2012 high!)
Broken Wing Butterfly Veriation QQQ 04/20/12 $66.20 Buy 1 67 call Sell 3 68 puts Buy 2 70 calls ------------------------ Credit 35c Will work on adjustments as time progresses ----------------------------------------------------------- CREE played the worst case scenario took a 80% hit on that one with reverse iron condor for earnings....Had only 1 contract, not a biggie.. SNDK is doing very well, FSLR is good too. YOKU still has time to play out earnings in June... Will add one more May contract at the close on Monday for NFLX earnings... All these are Reverse Iron Condors...but i'm experimenting with BWB plays now...need a solid income strategy to stick with, and so far BWB looks better then Reverse Iron Condor R/R,,,plus BWB can be done on monthly bases. Also if anyone has done double BWB please let me know...
RUT Broken Wing Butterfly Buy 1 May 835 Call Sell 3 May 845 Calls Buy 2 May 865 Calls -------------------------- Credit $2.45 Will adjust as needed...If market drops farther, will leave it to expire and keep credit. If market goes sideways, will wait for sold calls to loose value, then buy back to have a free trade on. If market rallies hard , lets say 40 point up day,,,will close the trade... NOTE: on a previous message there was a TYPO Buy 1 67 call Sell 3 68 puts...WRONG----CALLS Buy 2 70 calls ------------------------ Credit 35c
Ha. Rolling until you turn a profit. I thought you were taking candy from a baby. You put the LITE in eLITEtrader