SOHU: Sold Strangle
July 15, 2008 – 10:35 am
Sold 10 Aug60 puts @ 4.90 = $4,900
Sold 10 Aug80 calls @ 1.40 = $ 1,400
Total proceeds $6,300
Investment was $5,500, so that makes an $800 profit simply by playing both sides of the trade. $800 is nothing to get excited about, I just wanted to show a simply way to minimize risk and still turn a profit in a volatile market.
Note: another profitable video, for those that missed it click here.Â
nicely done
July 15th, 2008 at 10:44 amWhy did you not want to hold this position till GOOG reports?
July 15th, 2008 at 10:44 amSometimes you just want to take your profit and run.
July 15th, 2008 at 10:46 amthat’s a sweet trade RC!
July 15th, 2008 at 10:46 amVery good RC.
800 bones is a fat profit.
July 15th, 2008 at 10:59 amNice one, helps dummies like me better understand more elaborate options strategies. kudos!
July 15th, 2008 at 11:08 amNice trade.
Where the hell is Merlin, I need him to “poof” this bullshit rally monkey.
_
July 15th, 2008 at 11:09 amfollow the leader, I mean LEH.
July 15th, 2008 at 11:10 amshuda kept UYG !
July 15th, 2008 at 11:16 amIs this a bounce which I see before me? Cup handle towards my hand? Come, let me clutch thee.
July 15th, 2008 at 11:23 amCaj: oil down from 145 to 138.8, news is banks etc. are liquidatin oil holdings to raise capital. Short term play in airlines, refiners? Or DUG & DTO?
July 15th, 2008 at 11:29 amwow, refiners are busting loose.
July 15th, 2008 at 11:36 amCrazy day day…Look at the 1-Day chart for SRS…Major whipsaw action. Looking to get back into gold…
July 15th, 2008 at 11:37 amin TSO 16.38 for a trade
July 15th, 2008 at 11:54 amArrgghh, I hate this market … here I am chasing bullshit refiners up and down, after having liquidated some other holdings, only to find my original holdings which i collected at the bottom would have done just fine.
AFAM, SFD, CPSI, LL
Summary/Lesson: Slow and steady wins the race.
July 15th, 2008 at 12:19 pmCPTS sets up over 19
July 15th, 2008 at 12:22 pmALTH going for 8 break
July 15th, 2008 at 12:25 pmRage Cage
July 15th, 2008 at 12:35 pmTime to put on that SVNT!
yep, it looks great.
July 15th, 2008 at 12:42 pmlooks like a bottom in the refiners to me
July 15th, 2008 at 12:59 pmI’ll keep my egregiously large TSO long
on at least overnight!
LEH looks ready to break higher.
July 15th, 2008 at 12:59 pmIs this a bounce which I see before me? Cup handle towards my hand? Come, let me clutch thee.
Shakespeare in da house! Awesome!
_______
If LEH breaks $15, I owe you a ham samich with “etoufee sauce” on the side.
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July 15th, 2008 at 1:31 pmGlad that didn’t go unnoticed!
July 15th, 2008 at 1:44 pmragin, are you gonna play intc today?
July 15th, 2008 at 1:45 pmno, but I’m playing =HOKU
July 15th, 2008 at 1:58 pmALTH Beasting over 8
July 15th, 2008 at 2:35 pmguess the rally you predicted dint come through.
you holding your gay longs you got in yesterday ?
July 15th, 2008 at 4:01 pmh
July 15th, 2008 at 11:35 pmI’m new to options..When did you get $4.90 for you Aug60 put (uzktl) ? I use tdameritrade and the day chart high was $3.60 on the bid.
hmmmm….Just went to http://www.schaeffersresearch.com/streetools/options/option_quote.aspx?ticker_symbol=.UZKTL and the high for the day was $5.00…
why the discrepancy??
should I not be using Tdameritrade??
July 15th, 2008 at 11:36 pm