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Option Traders Unite Forum > What did you play this week?

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TradingLeg

Member since: Mar 08
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Posted November 06, 2008 (11:43AM)
I thought it might be interesting and educational to see what everyone traded this week and why they traded it.  Who's up first?
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Yourst Ox

Member since: Feb 07
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Clerk
Age: 30's
CA UNITED STATES
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Posted November 06, 2008 (12:43PM)
Well, I bought a cheep stock and made a nice gain, selling at a good time also.
I got LVS @ $5.35 last week and sold @ $16 this week.
Watched it fall today to $7 with a smile on my face. :)
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TradingLeg

Member since: Mar 08
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Posted November 07, 2008 (08:19AM)
Nice...i bought the 32 strike put on the november QQQQ contract on the 4th and sold the end of day on the 6th.   I just bought the 5 strike put on the november GM contract.  Probably should have not bought that this morning seeing as how this weekend could bring turn around news...
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OWN11

Member since: Jul 08
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Posted November 09, 2008 (02:32PM)

Purchased ADMKE.X @ .45. I'm hoping to sell at .60+ on Monday.  I hope good news overseas will attribute to momentum in our market on Monday. Bad news doesnt seem to be weighing down our markets, but I think things will change and I'll be speculating on the down side very soon.   
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eon

Member since: Feb 08
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Posted November 15, 2008 (03:57AM)
Bull put spread on Nucor (NUE)

Sold to open: NLV XE 
$25 stike put, expires Dec. 08
2 contracts @ $1.31 average

Bought to open: NLV XD
$20 strike put, expires Dec. 08
2 contracts @ $0.52 average

$158 maximum profit

$842 maximum loss

This gives me an 18.7% return on risk in roughly one month with a 90% probability of success (calculated from delta of high strike at time of trade).

I've tracked Nucor through the recent low dips in the market and watched at the very worst times.  To maximize my profit, I set up this trade while the market was on such a dip.  Even in the worst dips, Nucor has a strong line of resistance around $30.  52 week low is something like $26.30 and it hasn't been below $25 in over 2 years.  I'm feeling pretty good about it.

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Marcus

Member since: Dec 06
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Age: 50's
Riverside, CA UNITED STATES
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Posted November 26, 2008 (02:39PM)
I am betting on a meager Christmas, starting with Turkey Day.  Just randomly selling calls on retailers, products and etf's.  Nothing insightful, just following consumer confidence in the job market, etc....
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ArmenianWisdom

Member since: Nov 08
Trades 40
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trader / investor
Age: 20's
California
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Posted November 28, 2008 (07:44AM)
I'll be looking into Chesapeake 17.50 January calls which got dirt cheap because of the recent stock offering.  I'll play it by ear and go with my decision if it creates support near 17.50, if it goes lower, I'd wait a little. 

Yahoo is gaining momentum because of Icahn again, something to consider.
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BalkmanianDevil

Member since: Sep 07
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Posted November 29, 2008 (06:34AM)
I rebought amazon 40 dec put after the rally, I'm having second thoughts, but retail sales look hellish overall so I think it makes sense.  Might close that out quick if Amzn rallies but its been an easy short target for a while now, and I still think it's PE is too high for this environment.

Bought a longer term call on UDN, being bearish on the collar, that's a June expiration, what you guys think about that?

Also bought a strangle on Citigroup back when it was at 4 dollars, put 2.5, call 7.5 and that's starting to play out nicely, also december expiration.
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rayjman

Member since: Dec 07
Trades 9
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Age: 20's
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Posted November 30, 2008 (08:25AM)
Ahh....initial article a bit dated, but I always like to see everyone's trades for ideas.
Nice job on C strangle, I had a GM strangle last month and sold it the next day!!!....so much fun!!!
I didn't pickup a C strangle though (drats). I was losing on straddles in prior months on C, so became discouraged, but woulda been awesome.
My last few trades:
VIX puts (turned out nicely, 34% return, still holding some)
HES calls (sold last Thu.)
.RUT (Russell 2k calls - DEC 540s), holding up well, up about 18%, we shall see next week if this rally has any more legs.
CHK puts (but hold common as well so mainly I'm just plain hedged)
XLP butterfly in the 22-28 range (shorting 25's)
GS calls (holding from last month)

TLT puts (ugh, not working!!! well hopefully i can get out before expiry)
on UDN, I'm thking it may be good eventually I also thought about DBV calls

I'm 1/2 tempted to play the Direxion funds sometime, but they move so darn fast.
http://finance.yahoo.com/q/op?s=TNA
can't believe there are options out for 3x leveraged ETFs now, jeez.....if I can paper trade em, then i might try some small positions, but talk about over-leveraged....WOW!
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OWN11

Member since: Jul 08
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Posted December 01, 2008 (01:57AM)

My play this week is on Pulte Homes. I believe I understand the rally in homebuilder stocks last week- the same news that drove Fannie and Freddie back to 1.00+ a share from around .35. If the gov't will back 600b in mortgage loans, I believe that anyone with good credit and needs to refinance will tap in to that money, as well as bargain hunters shopping homes that are in distress. I believe that it's unlikely that homebuilders will benefit much from the gov't plan. I purchased Dec 10 Puts for 1.15. 
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FX_Capitalist

Member since: Jan 08
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Student, FX, and Derivatives
Age: 20's
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Posted February 14, 2009 (01:46PM)
BYO HG $7
BYO HO $15

August Bull Call Spread. max loss ~200 max potential profit ~300-400 We'll see if BAC can survive.
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rayjman

Member since: Dec 07
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Age: 20's
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Posted March 07, 2009 (01:41PM)

Been a while since someone posted.......
My latest trade: HYG straddle @63 strike - front month
JYH CK $1.32
JYH OK $1.47

Mar 12th deadline for financials, but at the same time CDS market a mess......
cost was $2.79 - ask now $3.15
volatility is starting to *slowly* kick in, but the bid/ask is pretty wide and requires patience

Just looking at the HYG chart it's a mess and I guess could swing either way (new 52wk low Fri)
I owned DSU in the past (more BB & BB-, etc.) and enjoyed the ride for 20% post NOV lows, but......HYG starting to look like it could go either way now

$60.21-$65.79 break even for me into March expiry, some mild postive news on ICE and CDS market into Friday closing bell. Can't believe the volatality still on this thing. Haven't seen a $2 move every day in a while. Scary? Any comment follow-ups appreciated, might add to the straddle if the vol comes out a bit before 3/12 fed mark-to-market decision....
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FX_Capitalist

Member since: Jan 08
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Student, FX, and Derivatives
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Posted March 17, 2009 (06:41PM)
Playing a new repositioned BAC Call ratio backspread exp on august.
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daved

Member since: Feb 09
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Posted April 04, 2009 (11:21PM)
Got lucky. Bought 5 SPX 1000 June calls right at the March bottom. Paid .65 each for them. Sold one for 1.30 another for 3.90 then another for 5.50 and the fourth one last week for 7.20. Still have one. How long should I hold it?
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options4u

Member since: Sep 08
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Posted April 13, 2009 (02:10PM)
Bought some calls on GS@130 SP. I think I might be up by few hundreds, however, found out that I can't sell them today or else I will be tagged as Day Trader :(  ... kind of sux . Hopefully rally for GS will continue untill tomorrow.

Any thoughts on How GS would do post earnings ??
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stugots

Member since: Mar 08
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landlord
Age: 40's
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Posted May 07, 2009 (05:35PM)
time to do some stradles...  jec at 40 looks interesting
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KINGHANK

Member since: May 08
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Posted May 30, 2009 (03:04AM)

This week, I bought 20 contracts of BA June 44 calls for around 1.10

First flight of new 787 plane and upcoming Paris airshow, just might propel this stock to 50 level, still long way from yearly high.
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OldFart

Member since: Jun 08
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Posted May 30, 2009 (05:32PM)
I do not follow BA, when is the 787 first flight expected? It can be a major disappointment if they miss again
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stugots

Member since: Mar 08
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landlord
Age: 40's
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Posted August 14, 2009 (11:21PM)
did a  GS  bull call spread for  sept 160/155  premium $1.65