Trade of the day

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Dec 3, 2008 5:30 am

Rich indeed!

Dec 3, 2008 9:48 pm

Bought back Puts MS Jan 7 1/2 's for .65 from 1.85 to close.

Dec 3, 2008 9:51 pm

WARNING ??? TROUBLE FOR US AGERS AGAIN???

  The options chain for WFC opened up down to 2 1/2 today.  
Jan 12, 2009 11:23 pm

Saw the IV spike the thursday before Kuwait told DOW to f- off. Solf ROH Jan 45’s for just under $6. Bought it back for .90.

Jan 12, 2009 11:54 pm

Maybe best of 09 all things considered.

  Sold puts on GM, MP's Jan 2 1/2's. It was selling volatility (vs. buying yield) but the risk to reward was huge. I sold them for 1.10 and got them back today for pennies. Even a small account could pick up 10 contracts and the worste possible would be GM stock at 1.40 a share. Keep your eyes on the IV, it's the last frontier for elephant tracks.
Jan 16, 2009 10:43 pm

67 expirations 66 out of the mnoney. The one that I bought back was a WB 5 put the converted to WFC with a bit of cash Since the strike price doesnt change these days no room or premium to roll it. No biggy. It was a complete slaughter. Already lined up for Feb. GOD I love this strategy.

As an aside, I flew up to NYC for an apt. I was on standbye for the plane that went down. It would appear I've an Angel on my shoulder.  
Jan 17, 2009 12:50 am

[quote=Gaddock]

67 expirations 66 out of the mnoney. The one that I bought back was a WB 5 put the converted to WFC with a bit of cash Since the strike price doesnt change these days no room or premium to roll it. No biggy. It was a complete slaughter. Already lined up for Feb. GOD I love this strategy.

As an aside, I flew up to NYC for an apt. I was on standbye for the plane that went down. It would appear I've an Angel on my shoulder.  [/quote]


I thought about you, as soon as I found out.
Jan 17, 2009 1:14 am

Gaddock, do you realize that you are posting specific investment advice on a public forum?  Trading options on the B/D you work for?  Do you not like your license?  You seem like an intelligent guy, so this entire thread seems odd.

Jan 17, 2009 7:53 pm
How do you figure that talking about strategy and trades that are past tense to be specific investment advice? Not one trade I've described could have been filled as described by the time I used it as an example. Never considered it as any advice at all. I will ask compliance if that is the case.
Jan 17, 2009 8:00 pm

On that note, if you know how to follow IV you can find some great last minute credits. Example: If one were able to do so one could have sold JPM jan 20’s for .32 last Wednesday with only two (actually three) days until expiration. Hedge Ratio was 0 implying a 100% probability of expiration at or out of the money. ROH was still selling for the .60 range.

  Don't try this at home kids.
Jan 17, 2009 10:10 pm

[quote=Gaddock]

How do you figure that talking about strategy and trades that are past tense to be specific investment advice? Not one trade I've described could have been filled as described by the time I used it as an example. Never considered it as any advice at all. I will ask compliance if that is the case.[/quote]   You're going to ask compliance if posting past trades on a public message board is ok?  POSTING is a reason to terminate you.  By posting the exact trades, even after the fact, plus what firm you are with, makes it quite easy to identify you.  Do what you want, but you should think this out a bit more.
Jan 18, 2009 12:39 am
I spoke to my manager about posting messages on BB's etc a long time ago. If I had made ANY posts while at work on a company PC you are correct. In fact they booted a bunch of people for just that. As for posting at home on my own time & dime my understanding is that as long as there was no information that had a red stamp or client info it was ok. I spoke to a trusted person today about posting past trades after reading your post and he felt that it's probably not a hanging offense but not worth the hassle. I was hoping for some good strategic debate. Never really got any so no reason to continue anyway. If what you are saying is true there are several other BB's that could have scores of Reps fired as they mostly discuss strategy and how certain trades worked out. So, it was fun while it lasted. I've developed some pretty awesome software that includes metrics that have brought the strategy great success. If anybody wants to share info about similar strategy I would enjoy talking with you and comparing notes.