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Using Options for Swing Trading
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Using Options for Swing Trading

  #141 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
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Posts: 467 since May 2011
Thanks: 395 given, 252 received

After I finished my review on the STX trade, I saw an opportunity for a new trade on STX lol.

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I have 16 contracts @ $1.84 w/ a 12 cent stop or so on the weeklies that expire by the end of the week. This is a very very very speculative position imo. Much more than I am used to but with the signal showing on the 1m chart, I don't need much time to be proven right/wrong. I am gonna be probably closing out at least a portion @ the end of the day if I am not stopped out.

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  #142 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received


Bermudan Option View Post
Charts up and running again. Watching WFT currently. Tried to break out earlier and encountered some price rejection. I think that it might continue to retrace lower intraday so I will be cautious in my entry, but I am bullish long term:

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Bit the bullet and bought 12 contracts
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  #143 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received



Bermudan Option View Post
After I finished my review on the STX trade, I saw an opportunity for a new trade on STX lol.

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I have 16 contracts @ $1.84 w/ a 12 cent stop or so on the weeklies that expire by the end of the week. This is a very very very speculative position imo. Much more than I am used to but with the signal showing on the 1m chart, I don't need much time to be proven right/wrong. I am gonna be probably closing out at least a portion @ the end of the day if I am not stopped out.

Stopped out of the trade and encountered $0.07 slippage at $16/cent. So on a $200 trade I lost like $315. Meh.

My Think or Swim account now has three day trades in two trading days so I have to be careful what I trade if I choose to use the account for anything else. Might transfer some money to a different account anyways, I don't need that much in this account since it is a backup with higher commission than my other accounts.

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  #144 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received

Quick update.

Missed a pullback in NVDA:
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Update on Alcoa (raised the profit target a little)

Bermudan Option View Post
One final trade on AA. Now lets see if the markets collapse tomorrow

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STP: Doing good since my entry. Slow moving so far but looking good today

Bermudan Option View Post
Grabbed some STP calls and faded the gap lower to start the day.
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So now, even if there is a selloff, the main trendline will have to be broken prior to me being stopped out

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Edit:
Just got stopped out of MGM on a pullback intraday
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Last edited by Bermudan Option; October 22nd, 2013 at 11:49 AM.
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  #145 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
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Posts: 467 since May 2011
Thanks: 395 given, 252 received

Grabbed some NVDA on the pullback.
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Missed my shot to reopen a position on SD and to add to my position in BRCD. Ahhh well
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  #146 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received


Bermudan Option View Post
Missed my shot to reopen a position on SD and to add to my position in BRCD. Ahhh well
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Got into SD on another slight dip
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EDIT
Added to my BRCD position. Now have a total of 19 options
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Stopped out of my WFT trade. Experienced some slippage as well
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Last edited by Bermudan Option; October 22nd, 2013 at 12:46 PM. Reason: Update on other positions
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  #147 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received


Bermudan Option View Post
Quick update.
Update on Alcoa (raised the profit target a little)
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Took 7 contracts off the table. 4 contracts still open

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Contributing factor for me closing out the position was a decent amount of profit taking on the short term timeframe
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  #148 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
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Posts: 467 since May 2011
Thanks: 395 given, 252 received

Grabbed 9 contracts on SU. Got stopped out of a position last month but gonna give it a shot again

Here is the 4 hr chart
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OTOH, here is the longer term pattern on the Weekly chart... I see a double bottom breakout that still hast the potential to happen:
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  #149 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
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Posts: 467 since May 2011
Thanks: 395 given, 252 received


Bermudan Option View Post
Took 7 contracts off the table. 4 contracts still open

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Contributing factor for me closing out the position was a decent amount of profit taking on the short term timeframe
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Completely flat on Alcoa
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  #150 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
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Posts: 467 since May 2011
Thanks: 395 given, 252 received


Parabolic move overall.
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I am glad that I let some options ride overall so I was able to take advantage of the continuation of the move higher. Huge up day for Alcoa. I am bullish on Basic Materials and I will look for another liquid representative to trade

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