A potion of explosion for SLB. This sucker is underperforming hard today (ED?). Â It’s trading below it’s 20 sma while the market is starting to show weakness. As well, it’s been …no… where? Â close to new highs as the market hit new…hi there…Â last week.
I bought 2 Sep. 55 calls for every 3 Sep 40 calls [...]
I have closed out the short side of my RIMM trade. I bought back the Aug. 70 calls for $3.20 (I shorted them at $8.30 two days ago.
So, I made over 100% of what I risked on this trade.
Still holding my Dell bear Credit call spread today, but I did buy back a few of [...]
I am putting on a bear call credit spread in RIMM. Â I bought the Aug. 80 call for for $1.61 and sold the Aug. 70 call for $8.30.
My risk to reward is good. Also RIMM is not making new highs with the rest of the market.
If you are gonna get short, keep it controlled like [...]
I closed the WMI bear credit spread today (symbol changed to WM)I did it by closing the short 27.5 calls for $0.70. I made 58% on this trade.  I also still have the 30 calls, but they are worthless.
I am holding a profit still in the DELL spread, I think it’s gonna give me more.
[...]
Via options I shorted WMI today. I sold the Aug. 27.5 call for $1.50 and bought the Aug. 30 call for $0.20
The reason is that WMI had the biggest volume day since Oct. last year. The stock closed down 4.85% on a day the SPY was up 1.04%
I also shorted DELL via [...]
I am sick of hearing about the fundi’s in this market. So here is a chart of WFC with two possible trades from a purely technical review. Click chart to see comments.
SPY is well above it’s steep uptrend, filled it’s morning gap and touched a new high before the end of the day.
ERX is much closer to it’s milder uptrend, barely filled it’s morning gap and did not make a new high.
For all of you who are fading the market, you may want to be fading [...]
bought it at 32 looking for a little over 33 on a day trade. Day’s low is my stop.
Ryan
Wanted to post a resource that I found very helpful for day trading. It’s a free, real-time, VWAP service. You can find it at http://www.bestfreecharts.com/
If you are unfamiliar with VWAP or how to use it, then follow this link
http://alphatrends.blogspot.com/2007/11/institutional-trading-benchmark.html
If you are a day trader it’s really worth your time to learn to use the VWAP. [...]
I hate DIETFS and 3x etfs. The only way to work these is to buy puts on them (unless you are day trading). I did it last month on FAZ and BGZ. It worked out to around 200% per contract
I will do it again on Monday. I am just praying the market will be up [...]
