GMoney's Crib

OIH Double Calendar

gmoneyscrib — Tue, 01 Jul 2008 11:45:58 +0000

Yesterday, I placed a double calendar trade on Oil Service Holders.

July / Aug 210 Puts

July / Aug 230 Puts

Total Debit of 7.99.

MEE BLPS

gmoneyscrib — Tue, 01 Jul 2008 11:44:42 +0000

I opened up a July 80/75 bull put spread on Massey Energy for a credit of 1.10.

GILD Put Calendar

gmoneyscrib — Tue, 01 Jul 2008 11:44:03 +0000

It has been tough to locate some good calendar trades. I placed a trade on Gilead Sciences a few days ago with the following parameters:

July / Aug 52.5 Puts

Debit of .65

The volatility skew is good and good upside for our calendar to increase in value. We will exit prior to upcoming earnings.

SLB +41%

gmoneyscrib — Tue, 01 Jul 2008 11:42:16 +0000

On the 26th of June, I placed a long call trade on Schlumberger. There was a bull flag signal showing and it was a good entry point. I received a debit of 6.10 and sized accordingly. A day later, I exited for a credit of 8.60. That gives me a profit of 2.50 / 6.10 = 41%!

JPM +12.3%

gmoneyscrib — Tue, 01 Jul 2008 11:40:31 +0000

On the 24th of June, I closed my JPM butterfly for a credit of 2.01. That gives me a profit of .22 / 1.79 = 12.3% in a week! These types of trades are quite attractive in this market due to high volatility.

LSTR BLPS

gmoneyscrib — Tue, 24 Jun 2008 11:49:49 +0000

I got into a July 50/45 bull put spread on LSTR for a credit of .70.

CNX BLPS

gmoneyscrib — Tue, 24 Jun 2008 11:48:55 +0000

I got into a July 100/95 CNX bull put spread for a credit of 1.27 yesterday.

New Month, New Focus

gmoneyscrib — Tue, 24 Jun 2008 11:47:51 +0000

July options month has started and I am excited about having a new focus and fresh start. The last two months have been filled with trades that didn’t exactly fill my comfort and more importantly that I do not have the experience to manage. Risk management is everything! I think finding the right profitable trades is easy. What happens if they don’t go the way you expect? Then what? From now on, I will be focused more on naked puts, calendars, butterflies, bull put spreads and bear call spreads. I also have a new spreadsheet, which will do a better job of accounting for my real time results. I have slacked off a bit the past two months on results and that hasn’t made me too comfortable.

CNX +12%

gmoneyscrib — Tue, 24 Jun 2008 11:46:44 +0000

I exited my vulture bull put spread on Console Energy for a debit of .63. That gives me a profit of .47 / 3.90 = 12% in a day!

USO +78%

gmoneyscrib — Fri, 20 Jun 2008 14:00:41 +0000

USO retraced quite nicely this morning and we closed our BLPS side for a debit of .08. Our entire USO trade has been closed for a total credit of .39 / .50 = 78% in a day!