SPY 3/27

Afternoon all,
its 3:15 as I write, and I an holding 8 154 April 12 Puts options.  In addition, I just purchased 1 July 690 Put option for 22.2 cents...

I am concerned that I have entered the corn market too early to, but I got in at 716 4/8 in the last minute before it dumped to 715... started the bidding at 220, 221, 222 hit...  I am very nervous about this trade as I don't usually short the report, at least I didn't last year or the year before... I could be screwing up... However, I believe that we will see huge planting and large yields and to bring corn back to normal levels...Also think the crops are good down south.  Shit, this could be a guess for I know...

Short corn at 716 this Day March 27th. (Entry $1,110.00)

Short SPY at 156.00 this Day March 27th.  (Average entry of $82.00)

May The Force Be With Me !!!!

SPY 3/25/13

Good Monday All,
Don't know about you, but been waiting for Monday since Friday... Bought (3) Put options on Friday for $88.00, at 155.90, they last traded for $48.00 HOLY SHIT !!! that's -44% or down $135.00... My Risk was 3 x $88 or $264.00..
This was an impulse buy at the close, and I should not have done it... So to start of the week of trading, I begin down $135.00, Stupid move ....
I just accepted losses of $145.00 ... Wow, was looking for 10% and ended up giving up 55%... Decided not to trade this week as we have Easter coming up and I am just not on my game.   I can not remember the last time I had a winning trade. 
Need to step back and not revenge trade... get my head clear, the market will be there tomorrow...
May the Force Be with You..

SPY 3/20/13

Good Afternoon All,
Spent the day yesterday Over leveraged with (15) April 5th 154 PUT options.  Ugh... In the morning, I was down $685.00 after the open, I was up $950... Did I take it???  NO, of course not, It wasn't $1,000 yet... an hour later it was at $540, then $440... that a pop that pushed me to Break Even (B/E).. I had purchased my options for $139.00 each and sold 13 out of 15 for $140.00. 
I watched a $900 gain go to shit !!!!.. It hit my levels, I should have exited with a profit... I hesitated and lost the gains. 
I do have to say that I was Happy, to get back to even from being down nearly 40% on the trade.  Speaking of range and volatility, I awoke this morning to my 2 remaining were down $50 each !! UGH !!!  that was a 35% hit... I waited after the open and made a bad purchase of another April 5th, 154 Put for $98.00 then after Ben's Speak made another bad purchase for $88.00...

So Currently, I am holding 4 with a Dollar Cost Average (DCA) of $115.00 and as of 4;15 Last price was 105.00 down $10 each for $-40.00 ... My Delta is 36, so I will need 30pts ... so 155.10 maybe is my B/E... There is still a lot of room in my channel so some downward action will not break the bull run.  I am down 8% at the close, my max loss is my premium of $461.00 ... I got the rest of this week to try to earn $200, as the price goes down my delta will increase and as it goes up, the delta will decrease... Plus as it not every penny in this acct, I am comfortable risking $250, which would put the SPY at somewhere near 156.50 or near the Most Recent High if not the All Time High... Not a Terrible place to be... Wish I woulda not held those 2 from yesterday...otherwise, this trade would be in the green...
May The Force Be With You...

SPY trade EOD

3/1/13 - Welp, watched a great trade go to shit... early in the morning, greed got the better of me and I was left wanting more... shoulda exited this morning for a nice profit, instead, let it ride for an end result of a $62.00 gain.  Hay a profit is a profit... I'll take it, but I will kick myself in the ass for not taking the morning... before the bell, I grabbed (3) 150 April 5, Put options for $1.90 at 152.11... Think Monday is gonna be a blood bath and I don't wanna miss the fun...
Until Monday...

Friday - SPY - 3/1/13

3/1/13 - Still holding (8) from yesterday and the SPY is at 151.04 at 9:12 EST... saw it post 150.80 and was super excited, but at 151.09 with a closing price yesterday at 151.61... Still pretty Happy... Squawk mentions more about the ATH in the Dow, than any mention of the Sequester...

I am gonna hold out for sub 151 # and look to take profits.  I would much rather go into the weekend with cash in hand, than hypothetical profits that can take a turn Monday morning.  Right now I can exit to earn a few bucks and balance out yesterdays fuck up...

Stocktwits is bearish and hearing 148 being thrown around, which makes me want to scale out of this position in an attempt to let the profits run...

As of this update, 9:17, no options prices are posted, looks like we will see the discovery process at its best... should be interesting...

In summary, there is no telling when I am gonna get out, but out I will be before the weekend...

Good Luck today and May the Force Be With You...

Current SPY Trade 2/28/13

2/28/13 - Currently, I am holding (8) April 5, 151 Put options which I paid an average of $209.00 each.  I scaled in WAY to early as my entry was around 152.40 before lunch.  I also purchase (8) March 152 options for $109, but at the top, I bitched out and sold those for $84 each for a $264.00 loss... I am SO Pissed!!!  My Max drawdown was $178 at 152.80 on the April's and at the close the options were up $303.00.  However, as I sold the others for a $264.00 loss, I am only positive $40.00 ... UGH !!! The difference between a $40 day and $600 day !!! The last trade on my 151 puts was $247.00 and that was somewhere around 151.60...

So, in Summary, I have $2k in put options on the SPY....heading into the sequester.. I just put on Mad Money to see what Jim says, but I missed 1/2... I don't know what is gonna happen tomorrow, but I see the chart and to me it says SELL... that and the Force, of course...

Result of wheat trade and looking forward on corn

2/28/13 - Long time no update folks,  Took and ass kicking on that wheat trade and rode that bitch to nearly zero... what a disgusting ride.  In February, I went long wheat and corn for a day trade an scalped a few hundred on the corn and a single on the wheat... fuckin wheat...

Right now, I am stalking corn.. HA, get it... looking to short it in the near future to hold going into the Planting Intentions report... Will provide an update on that situation as it arises... currently, corn is on the up swing, but it has hit my sell mark of 720... but as I have gotten burned before, I will wait for confirmation...