Wednesday, December 19, 2012

Still Holding

Morning all, Stilling holding my Feb 9200 Wheat calls and I am still down... Checked the B/A  at 822 on the March contract and it was 3.5/4.1... this doesnt sound so bad until you look at the delta.. 11%... will need 15-20 cents to B/E...
Pulled some Fib lines today using 11/29 as the high and 801 as the low... 26.30% is at 824 2/8, with the next target at 837 4/8..
5 minutes before the pit opens and we are at 821 2/8... Need some love...

Tuesday, December 11, 2012

DIE ...

Well, the report came out and the wheat fell off a cliff... and Like an Idoit, I grabbed (10) calls at 825 for 3.7 ... Currently holding (20) Feb 9200 Calls DCA = 6.9 ... March Wheat is currently trading at 821 at 12:36 which is the LOD... Down 28 cents, Just let is stop already...Fuck... and during my writing it makes new lows 819 ... damn.... hope that time doesnt eat away my options, but as there is not much left to eat... one can only hope that the rally that will follow this terrible day, will bring my options back to life... Guess I should call this the Frankenstein Trade as currently, its dead...

Monday, December 10, 2012

Do or Die time on Wheat

Well, Grabbed another 3 calls today at or near the low... got (1) at 852 for 7.5 and then (2) at 847 for 6.5 the low of the day.  From there, Wheat rallied to 852, but of course crashed at the close to 848... Son of a Bitch !!!!  Did not check the value of my options at the close, well, because, frankly it doesnt matter... The report fun will begin tomorrow, I know that most traders are not looking for any adjustment and an actual decline in exports to bring the carryout higher, but this just doesnt make any sense to me.  The drought continues folks, subsoil moisture is non-existant and Wheat is the worst its been in 60 years... talk of wheat being blown from the ground and brown... considering that Dec is the worst time to trade commodities, means that I may have fucked up and probably should have taken my own advise and not traded until the new year.... instead I am holding (10) 9200 Feb Call Options with a DCA of 9.7, I was the last trade on those options at 6.5 at 847... it wouldnt take much to get me back into the money just as it would take much to make me wanna go grab a rope and find a tall tree... Until tomorrow when I report whether I have lost my ass or made some $$$... May the Force Be With You...

Sunday, December 9, 2012

Holding Wheat Calls

Kinda terrible at updating the blog, but figured I would do anything besides homework... Currently have scaled into Wheat with (7) 920 Feb Call options... DCA= 10.9 cents.  Watched some RFD TV today and even though the wheat crop looks terrible, I am afraid that I might have entered this trade early expecting something to come from the Dec 11 reports... The Market opens in 3 hours and 7 minutes and I am both excited and dreading the open... Posted a few articles on the twitter acct which can be located at Masteryoda @pigsgetfed ... until then....