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Author Topic: Option Pic's lounge ~
Chart walker
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Current status:
2 trades open.

.QQQRQ QQQQ JUN 43 Put
20 $1.31 bought at $2,620.00
1.41 now worth $2,820.00

Profit $200.00
This option was negative over $1000.00 days ago, but we are at an extreme top and have a 6 month option! [Smile] -no worries.


When the market did a "head fake" and shot upward we bought our "gift" option 2 days ago.

.UQQRS QQQQ JUN 45 Put
10 $1.30 bought for $1,300.00
2.44 now worth $2,440.00

Profit of $1,140.00

Wait till you see what these are worth in May [Big Grin]
Everything is in journal form in this thread, no reason anyone can't paper trade these "extreme" tops and bottoms and make money IMO.

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The "BIG PICTURE" http://www.businessjive.com/nss/darkside.html

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Chart walker
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Over 100% profit now in just two days.

.UQQRS QQQQ JUN 45 Put
10 $1.30 $1,300.00
2.61 $2,610.00

Profit $1,310.00

This is way I stay away from the "middle" and play the extremes as noted in this thread...

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The "BIG PICTURE" http://www.businessjive.com/nss/darkside.html

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SherriT
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Congrats Chart! I wired in some money to try and buy before it shot down, but it STILL isn't credited [Frown]

Sorry to hear things are not going well for you. As we have been discussing frequently in SS lately, there is a reason for everything and something good will come out of it - I believe that too. Something better is waiting for you down the road! Thank you so much for everything!!!

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Study before you buy, Sell before you think about it....

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SherriT
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Questions (from your blueprint post above):

"---now the catch...
"The Rich" (the powers that be) KNOW this too...

They have set up "requirements" now which must be met in order to short a Option contract, otherwise EVERYONE would do it!
1) you must have at least $10,000.00 in your account, some are more then others... ($50,000.00 for an Index Option).

2) you must have Margin

3) level 5 trading account status..."

Are the cubes considered an index option?

What is the Level 5 trading status? How do you know what you are?

Gracias mi amigo!

--------------------
Study before you buy, Sell before you think about it....

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Chart walker
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Good Morning Board!

SherriT..
At optionsxpress you can check your level by clicking account info. Of course you can always chat LIVE with a real person by clicking the chat tab and a window will open...

You can ask any question you have there about stocks, options, taxes etc...

And yes better days are coming!! [Smile]

-right after the 12" of snow coming hits Wisconsin over the next two days I'm going to NEED some better days!! LOL ~~

ALLSTOCKS ROCKS!!

Have a wonderful day all ~ [Smile]

Chart ~

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The "BIG PICTURE" http://www.businessjive.com/nss/darkside.html

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Chart walker
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43.51
42.86
41.77
40.05
38.41

From above, these are our support levels...

We closed at $43.19 which broke our $43.51 so $42.86 should come today.

http://www.bloomberg.com/apps/news?pid=20601103&sid=aAYgm7BUwSaI&refer=us

I had said earlier that I didn't believe the BS that the press was pushing about the BULLISH market... People have LOST BILLIONS from IRA's, 401k's, stocks etc.

Again I make the case for people to know charts and indicators, because it is wealth to you [Smile]
Because yesterday as many investors LOST everything they had gained over the last year, other investors "in the know" made a futune!

-Not rocket science, That's the good news!!

Watch the BOND market take off now as money flows into it...

GL Board!

Chart ~

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The "BIG PICTURE" http://www.businessjive.com/nss/darkside.html

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Chart walker
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Looks like today will ROCK!!

.UQQRS QQQQ JUN 45 Put
10 $1.30 bought for $1,300.00
2.75 now worth $2,750.00

Profit of $1,450.00 over 100% on our investment now in just 3 days...

--------------------
The "BIG PICTURE" http://www.businessjive.com/nss/darkside.html

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Chart walker
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btw, here is one of many Bond funds.... [Smile]

http://stockcharts.com/charts/gallery.html?pttrx

"Smart money" was already moving into it...

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The "BIG PICTURE" http://www.businessjive.com/nss/darkside.html

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SherriT
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If you bought today, which PUT would you invest in?

--------------------
Study before you buy, Sell before you think about it....

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Chart walker
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quote:
Originally posted by SherriT:
If you bought today, which PUT would you invest in?

After a big drop it may bounce back up driving some PUT prices down and giving you a discount.

I guess I would pull up my charts and indicators to see what the market is doing (I'm not booted up right now).

A look at the free charts....
http://stockcharts.com/h-sc/ui?s=QQQQ&p=D&b=5&g=0&id=p11533517620

I would expect Stochastic to fall below the 20 mark, I think to play it safe on "this side" of the correction in price you may want to wait until the bounce up is done...

In otherwords, wait till Stochastic resets itself and and crosses positive and wait till it crosses negative again, you are hoping for the price to bounce up making your PUT cheaper to buy. The main trend is still down as noted in the gallery view page at Stockcharts . com

Note the last indicator...
Stochastic RSI
BUY Puts when this in at the TOP of it's indicator, and CALLS when it's at the bottom of the indicator. As you can see it is at it's bottom, so right now a PUT would not be bought...

Long term you could buy a PUT now, but you want to squeak out every cent and make it as profitable as you can. That is way I was buying PUTS when this indicator was "hot" (high).


What we did and why....
The Weekly chart (weeks ago) told me the market was due for a correction, the daily told me it was "hot" so I bought the first PUT. The market did a "head fake" and went higher on weak volume and gave us a "gift" we bought another PUT 3 days ago, again, when this indicator was "hot."

It has now fallen, but obeys the indicators. So read the indicators like a book, especially the RSI Stochastic and you should time it right on.

Because we are now "in" the correction, I would buy more towards the money then out of the money.... -my 2 cents.

Hope this helps SherriT! [Smile]

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The "BIG PICTURE" http://www.businessjive.com/nss/darkside.html

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new2stocks
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Chart, maybe instead of Seminary school to be a Pastor how about becoming a Financial Advisor? [Smile]
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SherriT
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quote:
Originally posted by new2stocks:
Chart, maybe instead of Seminary school to be a Pastor how about becoming a Financial Advisor? [Smile]

Let me hear an Amen! [Wink]

I suggested that one a long time ago - LOL!

--------------------
Study before you buy, Sell before you think about it....

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JLo
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Shorted THC march 8 calls just before earnings.
Now THC is trading in the hi 6's. Letting it expire. Repo is right. But you got to do your homework and have exit strategy.

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JLo
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By the way, I wouldn't discount the seminary career track. Ever heard of "winning the whole world but lose your soul" ? [Confused]

Saleh

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Chart walker
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quote:
Originally posted by new2stocks:
Chart, maybe instead of Seminary school to be a Pastor how about becoming a Financial Advisor? [Smile]

There are MANY paths there, financial, music, food, --it's endless...

Just looking for "something" truly rewarding [Smile]

Now back to Options!! [Big Grin]
In "the big picture" with Asian markets and with Bond funds now loading up, it seems the much waited market correction is REALLY here this time. Doesn't look like yet another head fake.

Buying at "extremes" you can buy more and more with every "headfake." Can't/wouldn't do that in the middle area!

-Although another "gift PUT" would be nice!!!! [Big Grin]

QQQQ gapping down hard right now, $42.58 as I write this, down from yesterdays close of $43.33.

What amazes me is that some people will lose alot of money, and at the same time a little charting knowledge is making others rich...
Those of us who bought PUTS are going to make serious money here. And all we had to do basically was look at a FREE site (stockcharts gallery page) and understand what was there...

"Knowledge IS power"

The power of NOT jumping in but waiting for an "extreme" to jump in is priceless... Stay away from the middle area IMO. The big, "quick" money is at the two extremes.

I hope everyone here adjusted their IRA's and 401k's to Bonds, I would expect this cycle to take about 6 months [look back at the weekly history chart in the gallery page at stockcharts. com].

I like flipping from the Euro-international funds to bonds and have done very well in my retirement plan. Careful, some Funds screw you if you don't stay in them for a certain amount of time. Vanguard Mutual funds like to do this... FYI

FWIW.. If I'm not on here we have some very nasty weather rolling through our area, last time we lost power for one - two days!
So I may be having a snowball fight with the kids but I'll be back when the power is back on!!! LOL [Big Grin] [Big Grin] [Big Grin]

Take care Borad!
Chart ~

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The "BIG PICTURE" http://www.businessjive.com/nss/darkside.html

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Chart walker
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.UQQRS QQQQ JUN 45 Put
10 $1.30 bought for $1,300.00
3.04 now worth $3,040.00

Profit of $1,740.00
day 4

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The "BIG PICTURE" http://www.businessjive.com/nss/darkside.html

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SherriT
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quote:
Originally posted by Chart walker:
.UQQRS QQQQ JUN 45 Put
10 $1.30 bought for $1,300.00
3.04 now worth $3,040.00

Profit of $1,740.00
day 4

OK new question....

When we were first looking at the QQQQ puts, you purchase a June 43 PUT, and I am sure you are still holding that...would you buy another one like that now - since you know it matched the original indicators?

--------------------
Study before you buy, Sell before you think about it....

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Chart walker
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SherriT

here is the first PUT.
.QQQRQ QQQQ JUN 43 Put
20 bought at $1.31 total $2,620.00
worth 1.51 or $3,020.00

Profit $400.00


-your question above..
http://stockcharts.com/charts/gallery.html?qqqq
still in a downtrend in the weekly chart. Hoping for that NEGATIVE MACD crossing! BOOYAAH!!

White candlesticks and we are going down! ha ~
talk about confusion in the market place... [Smile]

$43 is a magic number. 43 was support/res many times. So $43 is still a good buy in point IMO. Fire up your intraday charts and see in the 5 min if the cubes will go higher today, if so wait and let the price of those PUTS fall some for you.

--------------------
The "BIG PICTURE" http://www.businessjive.com/nss/darkside.html

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new2stocks
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With all that knowledge Chart, are you rich yet? [Wink]
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JLo
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short 20*April 50 CAL calls * 1.05
buy back * .35
held 2 weeks

net .80 * 20 = $1600 minus 2 commish

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SherriT
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quote:
Originally posted by JLo:
short 20*April 50 CAL calls * 1.05
buy back * .35
held 2 weeks

net .80 * 20 = $1600 minus 2 commish

Yes, but you have to have the minimum balance and trading level for that...nice play though!

--------------------
Study before you buy, Sell before you think about it....

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Chart walker
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Nice one JLo [Smile]

The cubes seem to be gapping again down hard, .50 so far today [Smile]

http://stockcharts.com/charts/gallery.html?qqqq
Daily MACH/PPO going to cross negative over centerline, when the Weekly chart does this we'll see the "BIG" move downward [Big Grin]

Booyaah!!

--------------------
The "BIG PICTURE" http://www.businessjive.com/nss/darkside.html

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Chart walker
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Dow, Nasdaq Poised to Open Lower
AP - U.S. stocks headed toward a lower opening Friday for the final session of a wild week as investors were left without the plethora of economic data seen lately and instead looked to a falling dollar and a few big profit reports.

http://finance.yahoo.com/

"We're so in the money [Big Grin] "

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The "BIG PICTURE" http://www.businessjive.com/nss/darkside.html

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Repoman75
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Hey Chart, I have a new option play that involves dividends (qualified dividends).. Almost fool proof.

Let me know when you're around so you can help me do some DD to see if it is actually a good plan.

--------------------
Stick with Repo's plan in '07 - FRPT/DKAM!

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PCola77
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Boy repo, that's quite a tease [Smile]
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Repoman75
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Ok, here's the general concept...

First you need CAPITAL ($10K's) to play this.

Pick a stock with low volatility (NYSE Blue chip) that is going to pay a QUALIFIED dividend.

Buy the stock the day before the ex-date. Also sell a call for the same amount of shares. After the ex date and the price adjustment, dump the shares and buy back the call.

You should make money not on the stock price, but on the dividend and the call (call will be slightly less when you buy it back - it doesn't adjust exactly like the stock).

The qualified dividend part is good for tax reasons.

I haven't figured out the details like which calls to sell in terms of strike prices yet, but I wanted to do a test.

--------------------
Stick with Repo's plan in '07 - FRPT/DKAM!

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PCola77
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Cool. Good luck. let me know if you get the details ironed out.
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Repoman75
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Where's Chart? I want to run this by him...

Do a few test runs.

--------------------
Stick with Repo's plan in '07 - FRPT/DKAM!

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SherriT
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Chart has been really tied up of late - it may be the weekend or Monday before he sees your post...

--------------------
Study before you buy, Sell before you think about it....

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SherriT
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Board, I have hit a milestone...I bought my first option today [Big Grin]

Don't expect to make a ton, but I feel reasonably safe with it.

Thanks for all of the tips here!

--------------------
Study before you buy, Sell before you think about it....

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SherriT
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I checked EOD, and I was up $50 on a $900 investment in one hour, and I didn't have any fear about it...

DEFINATELY on to something....

[Big Grin]

--------------------
Study before you buy, Sell before you think about it....

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JLo
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Short 30 * THC march 8 calls * .10 One day before earning, now THC trades in hi 6's. Letting the calls expire, because it isnt eating up much on my margin account.

Profit if expired 30 * .10 * 100 = $300 - 1 comish

So far the market downturn is helping me. I have other short calls. Only Puts I am short is GM April 27 1/2. GM seemed on rebound so I let it stay.

Last couple months have been flat. Trying to make up for last ground here.

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SherriT
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OK Chart, these are kinda options and kinda chart questions...I was looking at the weekly charts you posted previously for the cubes, and decided I would pull up the charts of some of the others you mentioned...GOOG, MSFT, SPY, etc. and see if I could pick the buy points and what you would attempt to buy...correct me if you would...

http://stockcharts.com/h-sc/ui?s=MSFT&p=W&b=5&g=0&id=p03316799780

MSFT you could have bought a 22 or 23 call once you had that long white candlestick in July 06 - then, in Jan, a put at 31 or 30 would have been the thing once those red candles confirmed the downtrend...that Stochastic is a no-brainer, isn't it?

http://stockcharts.com/h-sc/ui?s=GOOG&p=W&b=5&g=0&id=p03316799780

GOOG looks like it is at the bottom, or nearly at the bottom of the Stochastic and the Accum/Dist is turned down...the candles I don't like as much because it isn't a clear up or down to me...by the indicators, I would say call, but I would likely stay away from GOOG because of the wide strike price variation at the levels GOOG trades at...

http://stockcharts.com/h-sc/ui?s=SPY&p=W&b=5&g=0&id=p03316799780

SPY - man, this one looks like an extreme top, so I might even consider a put on this next week for September (or whatever the next period is after June) just out of the money. All indicators pointing down, or turning that way at least...

OK, that was enough questions...how close was I?

--------------------
Study before you buy, Sell before you think about it....

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JLo
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Shorting DOW march option on Monday.
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Call or Put??? I'm assuming a call.
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