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Showing content with the highest reputation since 01/26/2020 in Blog Comments

  1. 2 points
    My current WTI portfolio is long and drawn out. I am new to the site and I'm not sure of the interest in options trading from the market makers perspective. If anyone is interested just let me know and I'll post it.
  2. 1 point
    And the sycophant(s) appear. Marie... your comments have no bearing on my post to Gary. Please re-read.
  3. 1 point
    I would advise you to buy 1 April contract and short 1 Apr 54 put. Your Net Purchase Price would be around $49.50. Keep the rest of the funds as a safety net, but theoretically do the same trade for May as the trade for April so you can study the differences.
  4. 1 point
    Feb 15 2020 The two March 54 puts were "Bought to Close" at $1.95 on Friday netting a profit of 2,000 × ( $2.67-1.95 ) = $1,440. The March contract itself closed at $52.25. These were purchased at 52.67. This is a current loss of $840 on the 2 long March contracts. Profit from the previous position of 8 short March contracts was $18,400. This totals $19,000 in trading profit derived from March contracts so far. The March contract expires 2/20. April Options Strategy Evaluation The 2 long April contract position closed at $52.51. This is down from the purchase price of 53.40 for a current loss of $1,780. The 2 April 54 puts closed at $2.95. They were "Sold to Open" at $3.26. This is a current profit of $620. The combined total results is a current loss of $1,160 for the April options strategy. May Options Strategy The 2 long May contracts closed at $52.78. This is down from a purchase price of 53.21 resulting in a current net loss of $860. The 2 May 54 puts closed at $3.48. They were "Sold to Open" at 3.77. This is a current profit of $580. The combined total results in a current loss of $280 for the May options strategy. June Options Strategy The 2 long June contracts closed at $52.96.This is down from a purchase price of 53.40 resulting in a loss of $880. The 2 June 54 puts closed at $3.84. They were "Sold to Open" at $4.03 resulting in a current profit of $380. The combined total results in a current loss of $500. Week to Week Comparison (March-June) For the week ending Feb 14th the contract portion of the strategy has a current loss of $4,360. This is up from the Feb 7th loss of $20,980. This is a gain of $16,620 week over week. The options portion of the strategy which was at a loss of $9,940 turned profitable this week at $3,020. This is a gain of $12,960. The combined move over the last week is $16,620 + 12,960 or $29,580 for the March-June Options strategy. Since implentation of the strategy the profit/loss is a loss on the contracts of $4,360 and a profit of $3,020 on the options portion of the options resulting in a current loss of $1,340. The $18,400 profit from shorting the 8 March contracts is not included in P/L for the options strategies.
  5. 1 point
    I placed orders to sell to open 54 puts, 2 of April and 2 July over night, they executed and closed them earlier in the day today for a gain of $1020. I also bought and sold future contracts of RBOB an CL for a gain of $1568.
  6. 1 point
    You're going to make a lot of money. Sold to Open my May 54 puts at $3.77 and June 54 puts at $4.03.
  7. 1 point
    It always looks bleakest before a turn around. Every bit of news in regard to oil gets overblown in the futures market. Long 8 WTI contracts with 8 54 puts shorted against them. Mar contract expires on Feb 20th. Plenty of time. Huge imbalance in the options market suggests higher prices for WTI. Expecting a sideways trading pattern for the rest of the week.
  8. 1 point
    Not at all what I'm trying to communicate. I am trying to point out that without the short-option strategy a buy and hold strategy would be in a loss at this time. Net profit is $1,380. Not "evaporated". Just bought these contracts this week. I have no intention on selling them until after options expiration. It's all about the options. Fixate on those. Retail traders fixate on the up and downs. I fixate on the "time" since it's so much more valuable. When the options expire I ditch the contracts. The contracts are just a vessel.
  9. 1 point
    As they say "buy when there is blood in the streets"...
  10. 1 point
    Gary, have you read much Ray Dalio?
  11. 0 points
    OP, They do. You’re getting tiresome.
  12. 0 points
    OilProspector, Gary (and a few others) asked you to start another blog if you want to compete on strategy, to devote this discussion to his strategy. Why don't you do that? I'll certainly follow, your strategy looks interesting. But this is not the right place for many of your posts... Be a gentleman, do the right thing, etc. etc. Let us know when you've set up your blog. -M
  13. 0 points
    Sailing ? No. It's Mardi Gras weekend and I'm Mardi Grasing as I should be. Oil goes up and down. That's why the the OVX has such a high value compared to the VIX. I don't hyper-trade. You do. I only trade options. You don't. Our systems are different and that's because of my design. Not yours. All my contracts are trading above their Net Purchase Prices. Oil is building a base still. For me it's all about the "time". For you It's all about the price. Time is money in the options market. As I said earlier anytime you want to start a blog where we can compete on strategy I'll be there. As of yet I have not seen a blog concerning that.
  14. 0 points
    OilProspector should start his own thread instead of hijacking this one. He may want to share his successful strategy with others, but I remember reading the title of this thread and out of respect to the poster, please lets keep the discussion in line with Gary LeBlanc's topic. All other discussions should not be encouraged.
  15. 0 points
    Ut Oh! Waterfall event... closed out of ES/CL shorts WAY to early...
  16. 0 points
    Thanks Dan. Once you see me set up my strategies you'll understand that it's extremely easy. Like I've said all along the biggest obstacle is the amount of capital required. My March options strategy is under development. Will look to establish April strategy at a Net Purchase Price of $49.00. Cash balance: $381, 500. Eight ( wishful thinking on my part ) more contracts to buy.