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Allistah's Weekly Options Seller Journal


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Allistah's Weekly Options Seller Journal

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  #31 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
Thanks: 5 given, 64 received

The market is now closed. All of last weeks bull put spreads expired worthless this week. Here are is the final results showing the return. 50.2% return on investment this week - after commissions.



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  #32 (permalink)
Missouri
 
Experience: Intermediate
Platform: NinjaTrader
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Trading: ES
 
Posts: 77 since Apr 2010
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Allistah View Post
The market is now closed. All of last weeks bull put spreads expired worthless this week. Here are is the final results showing the return. 50.2% return on investment this week - after commissions.


Very Nice Job!!

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


Great job!

Have a great weekend.

PS: You might want to take a quick look at some of my picks for next Monday, they maybe of interest to you.

Mike


Allistah View Post
The market is now closed. All of last weeks bull put spreads expired worthless this week. Here are is the final results showing the return. 50.2% return on investment this week - after commissions.



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  #34 (permalink)
Chicago, IL
 
Experience: None
Platform: oil super computer
Trading: multiple
 
Posts: 193 since Jun 2011
Thanks: 601 given, 197 received


Allistah View Post
The market is now closed. All of last weeks bull put spreads expired worthless this week. Here are is the final results showing the return. 50.2% return on investment this week - after commissions.

For selling options wouldnt it be return on risk or return on margin, since your not really putting any money in to begin with. Maybe im just being nitpicky , either way nice return.

 
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  #35 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
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Sure, that wording seems to make more sense since I didn't really invest it. :-)

 
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  #36 (permalink)
Los Angeles, CA
 
Experience: Intermediate
Platform: NinjaTrader
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Posts: 629 since Dec 2010
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Awesome journal. You have the gift of making the complex simple and I love how you nailed this week's direction. Could you discuss more about the Strike Spread, please? Also, I've noticed the settings on your StochRSI hourly chart are different from the Daily and Weekly though the MACD settings are the same in all three timeframes, so that is something to add to your rules. And the Miner book you mentioned is his most recent one, right?

Also, if you haven't seen this vid you will be captivated as some say the method employed was selling Vertical Credit Spreads.
Now that I understand more from your thread it surely seems that way based on clues she has given:Karen, the REAL SuperTrader, interviewed on Get Tasted - YouTube

ETA: watching the vid again and you can see how a CPA would be attracted to and feel comfortable with credit/(debit) side of vertical spreads. Very interesting.

 
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  #37 (permalink)
desert CA
 
Experience: Intermediate
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Posts: 2,130 since Jul 2011
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Plethora, I didn't think "Karen" was using bear call spreads? Thought she said she gave up on trying to figure out price direction and the "minutia" and was using strangles. And her gain was actually more like 50% a year. More of my comments on that tastytrade video:

Of course, by that measure, Allistah is doing far faster p/l% gain by being right directionally.

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  #38 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
Thanks: 5 given, 64 received

Hey guys...

I checked on the spreads today after the market closed and everything is looking good at this point. Still have four more days to go so there is still a lot of time left to make things go sour but I hope that doesn't turn out to be the case.

My current assessment of the DJI:

Weekly: Bearish, is currently making a lower high - the first part of a confirmed downtrend
Daily: Bullish, but last moves down were on higher volume which indicates market sentiment is shifting to bearish

Things are still looking good for a Friday bearish expiration at this point unless some news shifts things around a bit. We shall see... ;-)

 
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  #39 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
Thanks: 5 given, 64 received

All of my spreads are looking perfect at this point for a Friday expiration as long as things don't rocket upward.

I've taken a run through my watch list and found that there is a bit of a discrepancy on where things are. On the weekly charts we've just left the overbought zone and heading down. The daily is very oversold and most are poised for an up day or two.

So what does that mean for tomorrow which is the first day that next weeks options are available? It means that I most likely will not be entering any trades tomorrow. I'm expecting an up day or two so if we get an up day tomorrow then I will wait to see what happens on Friday. If thats an up day as well I'll watch for an overbought condition on the hourly chart and start selling bearish spreads. I'd like to get in on Friday so I get those two free days of theta decay over the weekend.

-Allistah

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  #40 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
Thanks: 5 given, 64 received


As you can see in my previous posts, I'm bullish short term. I sold some bullish spreads this morning and I plan on closing them after a couple of days after there is some movement. Do not plan on holding these for more than 3 days.

Here are the trades that I just entered:

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