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Showing content with the highest reputation since 01/20/2020 in Blog Comments

  1. 3 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. 2 points
    I don't have a position in anything now. Unfortunately I'm a newbie and I only trade futures for now. I only understand your strategy partially, sufficient to understand that you make $$$ in a much safer way than me and most others. I knew about your strategy before I ran into you on investing. My intent is to one day do what you do but cannot at the moment due to lack of options understanding. I looked for educational material, institutions where I could learn options but have not found anything yet. I inquired with Online Trading Academy but they did not provide me enough confidence that they could teach me what I want.
  3. 2 points
    Do you currently have a position in WTI ? My Jan and Feb contracts both have 58 calls written against them. My 4 short March contracts at $56.75 are hedged against any loss up until about $57.75 on the March. All contracts have plenty of time left. I sell time. I'm very patient. My orders are placed. If you're drawing a conclusion of where WTI will be just by looking at the current price you're looking in the wrong place. You have to be in it to win it. If Jan contracts expired today at 58.35 my 2Jan contracts would get called away at $58.00 but I would keep the $1.25 I received today from Selling to Open the 2 Jan 58 calls. My net sell price would be $58.00 + 1.25 or 59.25. The net Purchase Price is 50.15 so my profit is $9.10/barrel/ contract or $18,200. I would have $118,500 in my cash account. I am currently short 4 March contracts at 56.75. The March contract closed today at $57.95. I would short 2 March contracts at this price giving me 6 short March contracts at avg of 57.15. Remember I still have 2 long Feb contracts at $53.00 with 58 calls written against them at $3.00 with a target of 75 cents. Feb contracts are about 58.15. I'm not that tied in to contract prices as I am in my strategy. This is not retail trading. I hold my contracts all the way to expiration. So obviously the price of the contract is not that relevant. Retail traders find it nearly impossible to comprehend that. It's all about the options. If WTI continues up and the Feb contract expires at, lets say for example $60, then my Feb contracts get called away from me at $58 but I keep the $3.00 from the 58 call I received giving me a sell price of $58.00 + 3.00 or $61.00. The net purchase price for the Feb contracts is 48.65. The profit on the trade would be $61.00-48.65= $12.35/barrel/contract or $24,700. I would then short 2 more March contracts giving me a total of 8 short March contracts somewhere in the high $57s for an average. If my target of 52.50 is achieved the profit will be in excess of $40,000.
  4. 1 point
    Short money rolls in fast. This current sell-off has been even more drastic in comparison to other sell-offs. It took 52 days for WTI to go from $54.77 to the peak of $65+ but only 14 days to get back to 54.77. Normally it would take 30-35 days on average to get back to square 1 at $54.77.
  5. 1 point
  6. 1 point
    Exceeded weekly goal... Actual trying to get to six figures a MONTH. Time will tell. It's just a goal. Have a great weekend all!
  7. 1 point
    Congrats. That is an awesome trade. This is the way I look at it. When I started my goal was to make the money in the matket to allow me to quit my job earlier than 65. Who wants to work until they're too old to appreciate free time ? First it was a month and then those became years. Tomorrow I will be trading from Lafitte's Blacksmith on Bourbon St. I have an order at $4.80 for DWT. Partial. Will re-establish if it pulls back to $4.30.
  8. 1 point
    Exited 5500 DWT at $4.70, (when WTI was @ $54.85, close enough to my $54 target) entry was $3.94, total profit $4180. Not Gary-level profits, but getting there.
  9. 1 point
    RBOB will always lead WTI around like a puppy on a leash. RBOB headed lower.
  10. 1 point
    Still short 8 March contracts at $58.05. My target first target is in the $53-54 range to flip 2 short Mar contracts into 2 long Sept contracts and then immediately short 2 Sept 54 puts.
  11. 1 point
    Dec 4 2019 Order to Sell to Open 2 Jan 58 calls at $1.25 executed when the Jan contract got to $57.75. Target to Buy to Close: 25 cents.
  12. 1 point
    Dec 4 2019 Calculation of the Feb Options Strategy Profit: Bought 2 Feb contracts at $53.00 Sold to Open 2 Feb 54 puts at $4.22 Bought to Close 2 Feb 54 puts at $1.05 Profit per contract: $4.22-1.05= $3.17 Sold to Open 2 Feb 58 calls at $3.00. Target: 75 cents. Currently $1.82 Feb contract currently $56.89 Purchase Price - Put trade profit= Net Purchase Price. $53.00-3.17= 49.83 Subtract the unrealized profit from the short-58 call of $3.00-1.82 that is still working and the Net Purchase Price becomes $49.83-1.18 or 48.65 The Feb contract is currently at $56.89 so the profit per contract at this time is $56.89-48.65 or $8.24/barrel/contract or $16,480 for both Feb contracts so far.
  13. 1 point
    There are a few traders on Investing.com WTI and OVX boards that are seriously missing my trading posts. I got banned for pointing out the deception and fraud of dozens of posters on the WTI board. The OVX board is the Oil Volatilty Index. All my trades are posted there up until a week ago. Post that Gary LeBlanc is at OilPrice.com. I can't. The wolfpack will appreciate it.
  14. 1 point
    Gary, have you read much Ray Dalio?
  15. 0 points
    I short as a hobby while WTI declines in price to a more favorable long-entry point. My position of 8 short March contracts will generate approximately $35,000 in the 4 weeks that I anticipate holding the position. This profit is dwarfed by the amount I will generate once I get back to a bullish bias with options working. The $35K was earmarked for Super Bowl tickets in case the New Orleans Saints ( I live in New Orleans ) made it that far. They didn't. Gotta plan ahead though, right ? My strategy is much less labor intensive which is by design since I sail out of contact for weeks at a time. As you can see I make minimal number of trades. It's nice not to have to be chained to the computer and still make a 6-figure income.