The Beerish Bull's Great Chronicle of Alcohol and Poor Decisions

Discussion in 'Journals' started by beerntrading, Jul 28, 2017.

  1. Long JPM Mar $110 calls for 2.75
    Added to AAPL calls at $3

    Hey spindr! I'll be back after market close for some commentary and replies....this market is just too juicy!
    #111     Feb 9, 2018
  2. SQ $40 Mar calls for 2.36
    CSX Mar $50c for 2.05
    #112     Feb 9, 2018
  3. Added AAPL at 3.35
    Added JPM at 3.35
    Added SQ at 2.60

    Bought FDX Mar $220 put for $6
    #113     Feb 9, 2018
  4. Added more CSX at 2.35
    Looking for some more SQ....if it gets filled, I'll be done for the day and back for the report.
    #114     Feb 9, 2018
  5. Nice timing BNT! Hopefully by this time next week you are busy working on a maximum profit plan for all these call options you picked up today.
    #115     Feb 9, 2018
    beerntrading likes this.
  6. Ok, first things first, the November debacle was because I moved my hedge up a strike, so when the positions went against me, so volatility went up on my bulls, but the hedge spread went ITM. It kept my account pretty flat mid-week. The right answer was to close there for a loss because the hedge went ITM and the positions were moving against me. Because I was pretty close to even, I thought I could wait and see. Well, SPX recovered, positions didn't. Very expensive lesson learned.

    Since then though, I was getting in on the super cheap volatility going into December and got long all kinds of Calls. No need to explain how that did.

    Thanks for the update. If I had to guess, I'd say today was the end of bearishness (I'll wait till this comes to fruition before I explain all my reasoning there)

    I am! All are March dated specifically so I'm not leaving volatility on the table. I'll let these stretch their legs and run.

    As for today's positions here's the average fills on them and where they stand right now (all are march expiry):
    AAPL $160c - bought for 3.34, now 3.98 (U/L is $156.37).
    CSX $50c - $2.21, now $2.75 ($50.92--went ITM)
    FDX $220p - $6, now 4.25 ($235.31)
    JPM $110c - $3.06, now 3.95 ($110.05 - ATM)
    SQ $40c - $2.74, now 3.30 ($39)
    XOM short shares from 74.59 - it's now at 75.77
    XOM $77.50c, for 1.32, now 1.73. I own these 2-to-1 as compared with the short shares, so overall, I'm pretty close to flat.

    I expected FDX and XOM to lose, but I'm hanging on to them just in case I'm wrong. The volatility on a continued down move should mitigate the damage to the calls, while getting the short positions pretty good. Additionally, I'm holding some WYNN Feb $160s from an earlier position that will do the same thing in the short term while I figure out if this is the real thing or not.

    Today was not my biggest day, but it is without doubt my best trading day. I was in my "Zen zone". I was so disciplined, and followed my plan perfectly to a 'T'--scaled in at the right times, didn't over expose myself. Closed some outstanding bears when they should have been--just perfect. Closed out my best trade ever today and I have high hopes of one of these new positions exceeding even that. I spent a lot of time last night charting this one out, and was pretty confident in 2525 holding in SPX--but I was ready for a glancing blow at this level and had my radar on high alert below 2535. Hit the bottom within seconds on an AAPL buy and got a great price on XOM calls too. When we put the volume move in away from the day lows I had the confirmation I was looking for and got into the last positions while we were coming down of the first higher high.

    The market was way to scared and fundamentals way too good for this slide to continue. The market punished the bears who walked into the traps, and tried to stop out the bulls. I held firm and let this one win.

    What am I going to do with all these bear pelts? :D
    #116     Feb 9, 2018
    Max E. likes this.
  7. Max E.

    Max E.

    Congrats dude, was happy i got to share this one with you!
    #117     Feb 9, 2018
    beerntrading likes this.
  8. RRY16


    I think I might puke...Bozo and Krusty the Clown in circle jerk mode.. please get back to us next week when the X wears off. Bear Pelts? Pssssplease!
    #118     Feb 10, 2018
  9. 12 pages in, and this is the first post trolling for a reply. Why here and why now? And why you? Why not stick to constructive posts? You've got plenty to offer that's better than this.

    Edit: that said, my alerts that you show up in aren't reflecting that tonight. If it's a bad week in the market that's fine, we all have them (and lots of us this week); if it's a personal issue, I'm sorry, but can I ask that you check it at the door? If you're here to be a jerk, please don't...I genuinely enjoy when people question my trades and my view of the market; it makes me a better trader. I do not like personal attacks on anyone who posts on my thread (or me).
    Last edited: Feb 10, 2018
    #119     Feb 10, 2018
    vanzandt and Max E. like this.
  10. RRY16


    Euphoria will kill you, tone it down. I’m happy you made some loot. Longs got trapped also. Stay humble. Keep away from the Canadian Mafia.
    #120     Feb 10, 2018