SPY 5/3/13 ... Congrats to the Bulls ...

Happy Friday All,
The Bulls have won !!! The Bulls have won!!! SPY breaks through 160 and powers up to near 162... (161.88) I in turn dropped the last of my acct on shares of UVXY, SPXU & FAZ... See Below

You can also see that this weeks 155 put option will expire worthless (Loss of $35.00) and I am still holding my June 22, 155 Put... Now down 53.44% ...

I have established my long term short position using these ETF's, even though I do not know alot about them...  The options plays cost me a chunk... and as I can no longer purchase options on this side of the house, I figured I would find a way to put my remaining money to work.  Not sure if this plan will work, but only time will tell...

I am hoping to do some homework and get back on track with school, however after missing so badly on the last spy trade... it find it difficult to even be in front of the computer...  I know its not alot of money to some folks... but if that's the case, use percentages... that will show the hurt for sure...

Starting to think of a Gold play but every time I start looking at gold, something, either the cost of the options, the delta, the time... mainly the expense.. turns me off...

I am so far out of the loop on corn, that I don't know which way it up... I have some things drawn up, but we are at a time where it could go either way... will begin to track report days and potential trades coming in the future... last year, I had to wait.. think I will do the same this year...

Otherwise, its Friday...  Congratulations to the Bulls of the Spy... You were right and I was wrong... Still have sometime on that June Put and nothing but time on the others... Time is now on my side, but not so much leverage...

Re-Grouping 4/30/13

Afternoon All,
Last Friday 60 of my weekly options expired worthless... Total loss of $1,600.00 ... Not a good trade... chased it all the way up,looking for some kind of correction... but there was none.  Actually, I was looking for a Head & Shoulders Pattern and once it broke that pattern, my options were toast...
I still have 2 viable options, however 1 expires this Friday and it's a 155 that I bought for $30.00 ...
I checked my June 155 Put and it is down only $70 from my entry point, however this is all I got for trading the SPY, so unless something happens... This side of the house is tapped out... I may close the acct and transfer the balance to the futures options side of the house and resume tracking my beloved corn...
Last night I considered buy a July 650 Put for 21 cents, but currently am low on courage... I did not check the last traded price, but the underlying contract was down 10 cents, so you could figure a $500 move on a $1k investment... The questions is, does it continue down...
So, here's the plan... take some time off... get some homework down... track corn and prepare for the planting/growing season...
I must alert you though, Tomorrow is May and farmers still haven't put down any corn in some areas... gonna make for some interesting trading this year... Lets hope we catch it right and make a ton... May The Force Be With You...

4/18/13 SPY - Free Trade

Good afternoon folks,
Been a while since I updated the blog, been gabbing on Stocktwits.... anyway, Sold all of my April 19 155 put options for a nice profit...approx 50%... this profit covers the cost of the remaining put options that i still have... (2) April 26 157 Puts and (1) June 22 155 Put.  These were doing nicely as of yesterday, and as I am afraid to do something stupid, I have not opened up the acct... SPY trying to break my magic 153.90 as I write... as i plan on holding these 3 positions overnight to see what the earnings will bring...
I am in a nice place... overall I am still down... but if I can exit this trade in the 152.xx area, I will be sitting nicely after getting killed earlier this year...
May The Force Be With You...

4/10/13 SPY

Its been awhile, bought 9 April 20 155 puts on Monday for $95, no trading at $29... bought 5 more this morning for $36.00, also trading at $29.00... watched the market soar and bought 2 April 26 157 Puts for $101 then at 158.16 I bought 1 July 155 put for $247.00... currently down over 50% and we reached a high today, so far, of 158.38.. as I write, its at 158.31 and looks like it wants more... UGH... This market is Possessed... Good luck......at the highs... right now..ugh.. ugh... theres the pop 158.49...

SPY, dont even want to talk about it

Hello all,
I exited today at 155.88 for $59.00 each...  was able to pull $5.00 off each option, Nice little $116.00 trade or 10%, however as I write we are trying for new lows near 155.00... left 88 pts on the table... Was Holding 28 of them and just do not have the courage to check to see what they are worth now... I know I left at least $500.00 ...

I am super frustrated that I wasn't able to hold onto the winner, and held it as a loser for over 2 days..Matter of fact, I was holding a $600 loss just yesterday.....

 Anyway, I will not be trading again until I have caught up on my homework... then I will have to review my trading strategy and figure out a way to risk less and capture gains.  There is no reason for me to be carrying 28 options unless I have some cash in the bank.... considering going back to smaller positions, smaller time frames... more trades... I cant continue to be locked into something and watch other opportunities go by because I am all in on something else... I enjoy the rush but until I am able to better my entry points and exit points, I can not continue to trade in this fashion... I will get burned... So, I plan on taking the next 5 days off.. maybe more... I wish you all the best of luck and let your winner run and cut the losers short...

Corn 3/28/13 Planting Intentions Report

Good Afternoon all,
Not sure if any of these get read, but as I sit here alone after crushing that corn market, I guess this is a nice outlet...

Nailed this one this year, better than last year... I probably shoulda held my option, but as we have a 3 day weekend ... Plus I really needed a win after being chewed up and spit out early this year with Wheat... Fuckin' Wheat....ARghhh... , where was I ... oh yea,  Hit a double on Corn... Looking back, Wish I woulda put more on it... but can't risk the entire acct on a trade that could have gone either way...
Now, after the affects of that trade have worn off, I look at the SPY, of which I now own 18 April 12th 154 Put Options with a DCA of $72.00 Currently trading at $66.00, which puts me down about $100.00 on the trade or 8%, Not bad considering we are at 156.38 and that's my draw down.  I did see -$225 at one point... I am considering holding over the weekend, but know that they will get slaughtered by time erosion... I am betting on an EOD/EOM/EOQ sell off also known as profit taking.  At 1:17 only time will tell...
May The Force Be With You...

3/27/13 SPY & CORN EOD update

Afternoon all,
As of 4:00, I am up $21.00 on the SPY Puts and my additional order for 2 at $72 did Not get filled... In addition, I checked the Corn trade and as of the close at 3:00 I am up $43.00...

I failed to mention the results of my single put option buy at yesterdays close.  I purchased it for $76.00 and at the open it was worth $123.00  Many folks told me to exit for a nice 50% profit, but did I listen... No, Instead I proceeded to buy at my target levels.  1st at 155.60, then again at 155.80, then again at 156.05 and finally tried at 155.20 but missed it...

I am now holding 8 puts for a DCA of $82.00, as of 4:11, last trade was $85, B/A 79/81,  which would imply an $11.00 loss...  Finally, like my entry for this short, just think I might be early on this as well, but I am considering end of the qtr profit taking...Cypress... and all in all the BS of this rally...

RE: Corn...
don't know what else to say except I hope I bought the right month and in the right direction... otherwise, I am gonna get my ass handed to me.. 1 naked put going into exports and planting intentions... yikes...
Good Luck All...