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Weekly Option Trader


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Weekly Option Trader

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  #111 (permalink)
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 409 received

Another winner on /CL

Long at $ 83.46, 1st target $ 83.59 (1/2 off), stop now at $ 83.49...another 32 ticks locked in and maybe more.

PS: Also switched over to the $ .062 range as well....








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  #112 (permalink)
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 409 received

Oil started off really well, I went 2-1 on my first three trades and was up 196 ticks, then came the 1-5 stretch. By the time this stretch ended I was 3-6 and I was down a whopping -12 total ticks, my I was still upbeat. Then I finished strong going 5-2 on my remaining 7 trades and finishing the day up a total of 104 ticks. So not too bad considering how choppy it was, (everyone waiting for the golden goose Big Ben to lay another Golden egg).

Weeklies made up for the lack luster Oil day as my play in GOOG was a nice one, AAPL had a nice win to start but it too chopped the rest of the day and I ended up with a small win and small loss to finish the day on it.

My wife did very well today, she took IWM nearly out of the gate and rode it to a double on her $ 78 weekly calls. She also made a nice play on NFLX in the afternoon after missing the earlier entries. Though we do not trade the TF, we will be shortly. (I have enclosed my Tf charts as well).

In the last 4 days of trading oil I am up nearly 1.000 ticks (998). Could be more with a few less mistakes and adding when I should to runners. This will improve as time goes by.

Ranges for tomorrow:

AAPL $ .82, AMZN $ .37, BIDU $ .25, GOOG $ .95, NFLX $ .22, PCLN $ 1.34, CL $ .07, IWM $ .13, SPY $ .15, QQQ $ .08, TF $ 1.57, & ES $ 1.75.

Here are some charts of my best and worst plays today. The worst are not really worst as they were good trades that just didn't go anywhere.



















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  #113 (permalink)
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Posts: 188 since Oct 2011
Thanks: 26 given, 409 received


I am almost afraid to post this today as I am sure I will have my non-believers. Therefore I will let all 19 charts speak for themselves. I was 14-4 today for a grand total of 846 ticks (based on 4 contracts with 1/2 coming off after a 13 tick gain). All trades were posted ahead of time, with my trading buddies, some of whom are in here.

Missed one trade while getting a sandwich or else I could have been 15-4 today for a total of 920 ticks.

I took NO weekly option trades due to Big Ben and the FED, I stayed away completely. There was at least one very nice trade in BIDU and some nice scalps in the others as well.

Here are my charts:


































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  #114 (permalink)
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Congrats on a nice day



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  #115 (permalink)
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 409 received

Ranges for tomorrow:

AAPL $ .71, AMZN $ .35, BIDU $ .27, GOOG $ .83, NFLX $ .21, PCLN $ 1.32, CL $ .06 (fast), $ .13 (average), $ .20 (slow) , IWM $ .11, SPY $ .14, QQQ $ .07, TF $ 1.00, & ES $ 1.50.


Have fun....

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  #116 (permalink)
Indianapolis, IN USA
 
Experience: Advanced
Platform: Ninjatrader TOS Custom
Broker: Several
Trading: ES CL ZB
 
Posts: 374 since Dec 2009
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Vikings1 View Post
Ranges for tomorrow:

AAPL $ .71, AMZN $ .35, BIDU $ .27, GOOG $ .83, NFLX $ .21, PCLN $ 1.32, CL $ .06 (fast), $ .13 (average), $ .20 (slow) , IWM $ .11, SPY $ .14, QQQ $ .07, TF $ 1.00, & ES $ 1.50.


Have fun....

Hi @Vikings1,
Nice journal. How are you determining the ranges that you are using for each underlying stock, commodity or index? Thanks.

 
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  #117 (permalink)
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 409 received


timefreedom View Post
Hi @Vikings1,
Nice journal. How are you determining the ranges that you are using for each underlying stock, commodity or index? Thanks.

Pull up the Daily ATR for any thing you are trading ( I use a 7 interval). I personally use 8% of the daily ATR for my range on the weeklies, and 2.5% for CL. But that is what I use, everyone has their own and in the long run it really doesn't matter as long as you are consistant. Pick one and stick with it, and stick to your rules.

Lastly and probably MOST importantly play all plays. There are no guarantees you will always win, but you can't win if you aren't in and this game is nothing more than a numbers game.

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  #118 (permalink)
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 409 received

Hard not to make money on a bloody day like today. Though very busy it was a lot of fun as my wife kicked butt today on her plays in AMZN, BIDU, and GOOG. I was especially proud of her on GOOG as she got stopped out on her 1st short of GOOG. But like a good trader she got right back on the horse and rode it for a very nice win. (All of her charts are enclosed below).

PS: On a day like this shorting almost any of my weeklies would have made money.

I passed on the two early longs for AAPL as I was very busy with Oil today. But I did finally take $ 580 Puts from $ 1.40 to $ 4.00, Thought about holding onto 1/2 over night, but just not my style.

On to Oil, all I can say is wow, very busy and difficult to trade most of the day (not a lot of runners like yesterday). 31 total trades, my broker must love me. I ended up 20wins - 11 losses for a grand total of +576 ticks. My two best wins were 104 & 84 ticks respectfully. My two worst losses were -60 & -56 ticks. The -60 tick loss was my doing though as I was not all RED on my indicators. I got a little distracted helping my wife and watching the weekly options at the same time. (My fault and my fault only.)

I am not going to post all these trades as that would be too much work. I did post my two best and worst trades though.

Still a very nice day as it should be when it is this RED overall.

Have a great night.

V
















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  #119 (permalink)
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 409 received

What a change from yesterday, but to be expected after that blood bath. Today only 18 trades before I called it a day. 13 wins 5 losses for a total of 420 ticks. I had one bad trade as I got a little cocky and jumped the gun where I should have waited for the 2nd red candle to form and for it to be lower than the previous one. I didn't and lost -52 ticks on that trade. It happens...(shouldn't but it does)..

Weeklies were very quiet today but still got some nice scalps out of GOOG, AAPL, & PCLN.

Great week and very much ready for the weekend.

PS: Still nice some plays in oil after shutting down; by the looks of it I could have been 3-1 after I shut down. Oh well I am beat and going to enjoy a nice cold drink on the deck.

Take care and we wish you all a great weekend.

Mike (Vikings1)














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  #120 (permalink)
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Posts: 188 since Oct 2011
Thanks: 26 given, 409 received


I may have stumbled upon something this weekend, by mistake, that has been in front of my nose for a while. I am extremely happy with my set-ups and obviously have done very well using them. But this weekend as I was attempting to upload those very set-ups into an autotrader for Ninja I stumbled across something that may end up being my "Holy Grail".

Time will tell, but the results I have seen so far from back testing have been outstanding.

Personally I can't wait to trade tomorrow.

I will be posting the results tomorrow night, but in the meantime here are some comparisons of my old charts look versus my new charts.

I only have three things to watch, versus six before.

PS: If anyone knows how, (if it's even possible), to program an "ATR Trailing Stop" into a Ninja autotrader I would love to hear from you on how to do it.

Have a great Sunday.......








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December 18, 2012


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