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Profile: BigBlock
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User Name: BigBlock
Groups: Member, TeleChart
Rank: Registered User
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Joined: Thursday, October 07, 2004
Last Visit: Monday, February 01, 2010 7:09:44 PM
Number of Posts: 2,126
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Last 10 Posts
Topic: choosing the right option strike price
Posted: Friday, April 03, 2009 11:28:01 AM
QUOTE (wse)
some people are always asking me about options trading.. which option to trade, why i trade that option, when to buy, when to sell, etc.. so i decided to write this up real quick and keep things simple and easy for everyone to understand...

some of my rules of thumb are that if im expecting a small move in the underlying, ill buy 1-2 strikes in the money in order to have the option move with the stock.

if im expecting a moderate move, ill normally buy in the money 1 strike or at the money.

if im expecting a big move, ill normally buy out the money by 1 strike, ABC is at $100 and im expecting a move to $110 today, i would look to buy the 110 calls.. if i expect a move to 106, i would probably buy the 105 calls

and finally... the last rule is if you havent been able to generalize when and where the underlying stock is planning on moving, then you really shouldnt be trading options just yet


It seems to me that you are an expert (with the sarcastic pun intended).
Topic: I think I was hosed.
Posted: Thursday, April 02, 2009 10:22:35 PM
QUOTE (jlsmith)
Well I certainly have set off some fireworks here.  My only purpose was to see if anyone could tell me precisely what it is that's supposed to trigger a stop loss. I don't believe I implied some sort of impending kerfuffle with my bucket shop. Mister Block seems to have drawn that inference from the lumeniferous aether. But I guess the strain of swinging a 500-lot in T-Bonds would make anyone a bit edgy. And what's with the picture of Antiochus Epiphanes, anyway.

As for those of you without insecurity issues, thanks much for the replies.

Beansintheteens.

What triggers a stop loss?  Let me think - Sun eclipse -no no no - moon eclipse.  Not sure, but it is one of the two.  Is it clear now?
Topic: Another stealth opportunity
Posted: Thursday, April 02, 2009 10:00:32 PM
QUOTE (johnlc)

Tobydad:   I wish i had your patience.   Low $ stocks.   Trading out of consolidation periods. 



Patience is the virtue of the hunter.  You don't have patience you get hunted.
Topic: Market Analysis IV
Posted: Thursday, April 02, 2009 8:11:42 PM
Well it seems that all the problems have been solved at the G20 summit.  At least that is what the markets think.  
Well may be not - Saturn is positioning with Plute for the next astrological event - may be that is what the market reflects.

Fundamentals? 
Topic: CFL, cup/handle setup, not perfect...
Posted: Thursday, April 02, 2009 8:07:50 PM

Now we need some tea and cookies.

Topic: I think I was hosed.
Posted: Thursday, April 02, 2009 8:06:57 PM

Hey jjames isn't that a shame that you must hide behind that sheet.
Thanks for the complement.  The truth is that we all get hosed.  Those who claimed they have traded for 25 yr without being hosed are claiming AN UNICORN.  Your favorite animal.

I get hosed, but I hose a lot more than I get hosed - that is the difference.

Thanks for the complements.  As a professional at the intraday level for the last 11 yrs I think I have seem about all there is to see.  Two main bears on my back, and still pulling like a Saleen off the line.

What you got a 38?  About enough to hunt some flies.

By the way, seems Apsll has reincarnated in a few different forms - go wonders for the 5 or 6th good bye - is that what it is - I lost count.

Topic: I think I was hosed.
Posted: Thursday, April 02, 2009 4:23:14 PM
Look this is an easy thing to see, but dealing with it regardless of what others have said will be a waste of your time.
Level III shows manipulation - the price could have been printed there, but you would have to be looking at it or recording.  And anyways - Level III doesn't garantie much, but that is why I mentioned initially - that is where games are played.
Is your broker correct? - Perhaps.  Even when you trade Tick charts - a lot of things can happen between the ticks gets printed.  Is he correct I don't know - but they could be.
If you are trading minute charts - then  A LOT can happen between minute candles.
Second, the only place you cannot be told a lie is at the TOS.  Find the raw data for that day, and look at the time of your fill.  Confirm whether it could had happened or not.

And again, you will wasting your time trying to take this to the SEC or your broker  - unless your losses are in the 100's of thousands.  Even then is there is a print on the TOS for that price - you would be out of lock.  To be serious about this you would need a lawyer.

So like I said - move on.
Topic: Market Analysis IV
Posted: Wednesday, April 01, 2009 9:51:48 PM
The revolution of which I spoke in the not too distant past is in effect.  
Athens was the begining, London is just a follow up. 

If Global governments don't get their act together I am afraid that this pattern will continue.  Things are not bad enough in the US yet, but they can get there.  Given the amount of guns available in the US, and the mentality what happened in London today may just well b a tea party compared to what can happen here.
Topic: I think I was hosed.
Posted: Wednesday, April 01, 2009 9:43:44 PM
QUOTE (jlsmith)
Maybe I've just been lucky up till now, but I,ve never seen any definition anywhere, and neither have you I'll bet, of a stop order that doesn't say that a stop order isn't elected until the market actually trades at or beyond the stop.

Beansintheteens


Lucky for 25 yrs - that is a lot of luck.  You go ahead and take it out with your brokearage and the market maker.  You will just be wasting your time.
By the way, minute charts don't show everything, NOt ever tick Charts.
Were you looking at Level III when this happened?  Even if you were - How are you going to proof.  Were you recording Level III activity?
Like I said - you will be wasting your time.
Move on - this sort of thing happens more often than not.  You couldn't possible be trading for even 1 month without this happening.  Heck not even a week.
Topic: I think I was hosed.
Posted: Wednesday, April 01, 2009 9:31:13 PM
You have been trading 25 yrs and you have never seen this?  Where have you been trading?