Trade #1 closed Trades 3,4,5,6 & 7 viewed.

SPY calls trade number 1:  So essentially this trade never worked out the way I though as you can imagine from Monday.. Fortunately I was stopped out long before the carnage happened and grabbed a small net gain.

CLOSED +.13
NFLX Trade #2

On Monday I caught NFLX very nicely but booked quick gains and really could have crushed it but I do not often swing for the fences and I got to talking shop with someone a few weeks back and basically described myself as a grinder I am not going to put up many 50 point games but I am going to give 20 & 10 on most days.


The gist of the trade is I made a bunch of sales ranging from +.70- +1.50 and then turned the last 1/3 into a call fly which gave me a guaranteed gain of +$1.40 and a chance to make 6 points in total but today I sold that for +2-+2.20 roughly.  (  There was some positive feed back on a post i did on this on a LNKD trade so I may do another one here. In the coming days.

CLOSED +.70-.2.20

Trade #3 SPY Puts  So this was basically a scalp at inception but then decided to leave a piece on for the over night, which again I put into a fly.. Pictured below.  I may actually use this as opposed to the NFLX or both as this can really show the bad side and the good.  So what is the bad side well these puts went all the way to 1.60 on Monday the good side is I had a bearish position with SPY up $2 today and I only lost $60. So have profits here raning from .09-.24 and with creating the fly I was guranteed to make .15 with a chance to make 1.15.. Now the problem here is getting out is damn near impossible because of spreads so I could have gotten a fill at around .09 giving me .24 gain on balance but as you will soon see I am long a few positions after today so this can serve as some small form of a hedge.

CLOSED +.09-+.24  (most likely the rest goes to 0 etc..)

These are my three new open positions I will keep size out of most discussions as it is irrelevant but becomes relevant in the FLY situations because it will then be too confusing to explain as you cannot see the - next to the ones I sold. (I am far from the biggest trader on the block & in twittersphere I am most likely one of the smaller ones) These are smaller positions for swings roughly 1% with ORCL being a tad less than the others as it is shorter term trade and if the market finds a gap down tomorrow it will suffer the most.  So I am still being cautious but ready to nibble on some longs.  Quickly I am 97% cash roughly I typically will always have at least 70% cash and typically always swing options as I do not see the need to keep the required capital in a trading brokerage account to swing say 5-10 equity positions.

Briefly this blog is mostly just for me as a blog of my trades and things it is not a pound the chest or have Saturday fills where losing positions dissapear.. If no trader had losses, then how could there be any good traders???

Be Well.

SPY Trade #1 1/10/14

One of the things I do not do well or enough of is that I tend to only keep track of the score board and not the statistics.  What I mean by that is I track my PNL but tend to not keep enough data on my individual trades.  So this will become a log of any trade aside from day trades.


I got long SPY Jan 18th 184 calls on Friday on the break above the intraday highs.  I am long at .77 and they closed on Friday at $1.  Nice little gain I was tempted to book some but stuck with a full position over the weekend.

Below is a 60 minute view my thought is bears had a chance on the bad jobs report but had no juice and once we snapped highs on Friday really caught a nice stick to close the day.  My initial stop was below 183 but that will change on Monday depending on how we open I will most likely be using an intraday pivot as a stop but the plan is for us to bust out of here and potentially get a little blow off through all time highs.