Membership in the Options Counter-Culture

“All I want to be is a day-trader.” … Why do so many people feel that way?

When I first found short-term trading, before the internet and before the term day-trader was invented, I was hooked. I was on my way to a PhD and said “skip that”. So… I have no room to talk when I ask the question with maybe a hint of perjorativeness…. but then again maybe I do.

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Market Personality Change

… well I feel rather obligated to go through with my bullish ITM put spread but honestly, since I didn’t manage to get it on, I also feel a personality change in the market. For me, I sense these things through speed and rhythm and the s/r of yesterday and this morning, is striking my […]

By |May 5th, 2010|Markets, Membership in the Options Counter-Culture|2 Comments

Know Your Tools

This bullish spread for June would be on right now if I really knew how to use the analytics that I have … but alas I don’t. And patience to learn them… well I have to consciously invoke that. Working on it now.

I am not a linear learner (my own term). I need to futz […]

By |April 23rd, 2010|Membership in the Options Counter-Culture|6 Comments

And then there is timing…

Even though this options (learning) gig allows me write while I have a trade working – and not be staring at the screen all day … TODAY is a good example of how the intraday movement gave me an opportunity to get in BUT I missed it. Now I haven’t yet looked at the […]

By |April 22nd, 2010|Markets, Membership in the Options Counter-Culture|0 Comments

Analysis Session #1 for June Bull Put Spread

UPDATE TO POST “Joining the Options Counter Culture”

1. Nice to have a tutor in thinkorswim software … better to have it be the same guy you drink margaritas at home with.

2. A put spread risks less than just buying calls.

3. I am actually bearish for May and bullish for June.. so now I am looking […]

Getting this Bull Put Spread Off the Ground

Ok… so I have my idea … and I have my time-frame …. i.e. after maybe a “pro-longed” (relative to recent history – after all, ALL market moves only occur in context) swoon/retracement over $GS, we will resume the march known as “markets climb a wall of worry”.

Now think about it – those two “decisions” […]

Joining the Options-Trading “Counter Culture”

Despite the fact that the guy who got me into the trading business in 1994 had been almost an original CBOE floor member, despite the fact that one of my best trades ever was a covered write on LU in July of 1999 (think sell Lucent @75), despite the fact that the man in my […]