Correction on that may/nov. Im actually long at -335. Sorry I must of been thinking about another chart and when I came home dad said that he placed the order for me at -335. Sorry about that Back to fucking the locals in the schatz
Still short my 10yr (I don't know why though) looking to take profit at 115.05 Also looking to short march oil at 94 if given the opportunity. YT
Sold a mar 114/118 strangle today at 53 Still got the short 10yr which closed at around 117.015 Other than that nothing going YT
hey youngtrader looking at the oj spread and it looks good thanks buddy, did you leg in or enter as a spread
Im not actually in the spread (after looking back at the posts I said I got long when I actually I just placed the order to get long lol sorry about that everyone). There is absolutely no volume in nov oj so you wouldn't be able to get it done even if you wanted to. Once we can get some volume trading in nov I think it is a surefire winner and you can be sure I will be looking to buy it! Rtrader2525 what you been up to man? Any good spreads out there you like. I would like to get some july/sep board wheat bought at a little lower price but its a little too expensive for me here. YT
Yeah i coulds never get into that damned oj spread, it does look good though! thanks for the heads up, I've been flat all week. Ive got a couple july/march chi wheats on and a bunch of hog spreads (buy july sell aug) july is extremely undervalued in relation to august, check that one out it's a winner every year. then i have a buy august sell october cattle spread on. Pretty much long term, ive really enjoyred reading yourt posts lately i would love to learn the currency markets, i've traded them a little bit. any pointers on where to start??
Yeah that oj spread looks pretty good doesn't it? I have no idea what march/july wheat is doing but be careful. Im hearing most of all the big pit locals in chicago have taken that spread off (they were short it just like you). I know most of the volume is electronic but they provide most of that electronic volume in the pit lol! Im going to check out those livestock spreads right away! Thanks for the tip! Currency markets are deffinantly a neat market to trade and I also think a good one to start out with if your a beginner (like I am). They are very technical markets and trade nice off of almost any tick charts (13,34,50,75,89,144,233,300) and a 15 min chart. I usually keep the 5 and 20 exp ma's up on the charts along with volume. Usually doesn't hurt to have the 200 exp ma up there as a trend setter. Anything else about that market just PM me although I don't have all the answers (im mainly trading coffee and cocoa futures intra day now lol). Right now im looking at OJ. Ladies and Gentlemen this thing is going to take off........although im not sure which way lol! My bias is to the upside though. There are several ways we can play this game. Long may futures around 135-137.5 Long july 135p/145c strangle for 12.85 premium Long july 140 straddle for 17.10 premium Long july 145c/155c bull spread for 3.05 premium 145c/155c july backspread for 1.01 premium These are all limited risk spreads (with a thin market like OJ I can only imagine how thin their options are lol so I don't want to get caught and have to pay up). Vol is low (er) and we have a crop report out friday. Like I said earlier the word is that usda could cut estimates by 1-2 million boxes. I like futures and will probably buy a few contracts at least. I like the stangle but its kind of expensive for me. The straddle is way to expensive. The bull spread appears to be too low delta for this type of play (I think we are going to see a pop rather quickly and viciously). The backspread seems to be about the only option play that is extremely low risk and extremely high reward as of now. Im probably going long futures and also buying a july backspread (if those pit locals even do option spreads). Any veteran option players out there that could give any advice on what option stratagy to choose in this type of situation it would be GREATLY APPRECIATED!!! Good Trading Everyone YT
Im long 5 may OJ at 138.55 Havn't placed any option trades on OJ yet. Im still looking for the right way to play it. Like I said if anybody has any suggestions on how to play this thing please let me know. YT
Well OJ closed at 137.95 down about 1.15 Like I said I bought 5 of them at 138.55 earlier this morning. 10yr strangle is continuing to lose value and it should expire worthless. I believe march option expiration is in 13 days. YT
that hog spread gained a buck since thursday, i've got plenty like thta about 12 that itrade yr round email me if you want em buddy