Shortie's 10 Best Market Calls

Discussion in 'Journals' started by shortie, Dec 2, 2010.

How Many Calls Will Shortie Nail (Out of 10)?

  1. 10

    6 vote(s)
    13.0%
  2. 8

    3 vote(s)
    6.5%
  3. 6

    4 vote(s)
    8.7%
  4. 4

    6 vote(s)
    13.0%
  5. 2

    8 vote(s)
    17.4%
  6. 0

    19 vote(s)
    41.3%
  1. getting to b/e. VXX short is dragging down PL.

    [​IMG]
     
    #91     Aug 23, 2011
  2. [​IMG] the position swings to a nice PL +500. Will wait for more hints from the market before closing any or all of the legs.
     
    #92     Aug 24, 2011
  3. Why you did not take your profits on the 38 call? I am guessing it is because you wanted to limit the upside risk on VXX. Did you consider other (partial) alternatives such as selling a put at strike 33, and use the proceeds (of part of them) to buy OTM calls?

    The 33/38 call spread is like buying a 38 put, and selling a 33 put, which can make you net premium, and time working against you if VXX does not move.
     
    #93     Aug 24, 2011
  4. I am working on closing the positions. Today I closed SPY leg for +500. The remaining positions have -200 Unrealized. Since I have +300 cushion I will wait for a few days and try to catch better exits for GLD put and VXX call spread.
    [​IMG]
     
    #94     Aug 30, 2011
  5. Closed GLD Put for +$43. Total realized profit so far (including SPY call profit): $562
    VXX call spread shows -$500 unrealized. The position has zero risk. So I decided to keep it as long as Expr unless it turns positive (seems unlikely now but still 10 days to go, -10% move in VXX is not impossible).

    [​IMG]
     
    #95     Sep 7, 2011
  6. Position closed.
    VXX call spread deteriorated to -725
    gains on SPY/GLD +565
    Total P&L:-160
     
    #96     Sep 16, 2011