Market gonna roll over....

But maybe not yet.

Expecting a HUGE move in GE. I played a good sized straddle on this thing.

Bought a put in JWN (again) last time rode it from 1.20 to 2.15 (went to 3.3) back in @ 1.10 to rinse and repeat.

My ESV calls look like they're gonna get some action tomorrow (hopefully)

ARD nice job on these calls as well

GG puts a little too early :(

AOB strong action

HST out WAY too early

ORLY garbage.

Overall i've been doin pretty good. Pennies too.

Not bad.....

Good run here. Been a pretty bullish start since then. HOWEVER, i'm expecting a pull-back next week. I'm heavily positioned for the downside and if it doesn't come, quite frankly im out.

I've had WAY too much trouble trading options. Theta and Vega have absolutely murdered me. Luckily it was the houses money, but still it's a little frustrating.

Nearly EVERYTHING I traded moved in my favor and I still lost money. When shit didn't move in my favor I had no choice but to just keep holding as the TV of the options depleted WAY too quickly.

What am I going to do? Start trading ATM (or ITM) options with the least amount of TV. I'm sick of getting my ass kicked solely because I have ZERO clue WHEN the underlying will move. I know where it will move but for some reason the whole "when it will happen" has me a little foggy. ;)

I'm not bitching, i'm just that my crystal ball isn't THAT good. I can only do so much.

Futures down 5

Hoping to see some significant downside tomorrow to take off some of these puts. If the hedges work, i'll be riding freebies to the long side (march) and be positioned for April to the upside.

Profit-taking Friday

Sold quite a few of my HST calls (March and April). Just have 3 march $5 left.
Sold 2 March KG calls.
Sold my AKS @ .20 for 100% as well.
Few others too I can't think of right now.

Picked up shorts in BAC ($5 and $6 strike) and 1 in JPM as well $20.

I'm about evenly positioned for both down and upside next week BUT most of my calls are now April calls, so I would be more than happy to see the banks get CRUSHED next week.

Still short AMZN, TOL, BAC, JPM, AZO
Long AOB, KG, KEG, HST, ESV, TDW

maybe a few others.

Gotta love the cycles.

Inverted usually over-extend i'd imagine......

Yeah...

and

yup

Not a bad day......

Out 200k MODC @ .001 for 150%. Holding 100k left just for a lotto.

Out 250 in da mom's.....150 left there.

Dad's holding all of the 500k for a home-run. So far made some decent bank on it.


As for the options....not a bad day again. Market's are up nicely (150) with more to come i'd imagine. This is sweet. Haven't sold any calls BUT picked up a call on AKS (7.50). I really wanna milk this run for all it's worth.

Overall this bottom call is looking pretty darn good so far :)

In puts and out some more MODC

ILMn 30 put @ .20

Out MODC @ .0008 200k (300k left)

Other retirement out 300k @ .0008 and holding 400k in there.

Still 500k in the other.