nutsterrt's Option Trades

[nutsterrt]

Greetings everyone.  Seemingly back from the dead, I have returned to the boards having recently (a year ago) discovered the joys of options trading!  While I have an existing thread focusing on my stock trades, I now strictly trade options and will be using this new thread.

No target objective (i.e. turn $100 into $100,000) or anything of that nature, just want to finish the trade in the green!



First trade I will record was made today, and was the purchase of:

Ten (10) QQQLW: Dec 2007 CALL 49.00 strike.  Purchased at 0.79, transaction cost $790.
Objective: 1.58, or +100%

No technicals behind it, just purely speculative in nature.  I think the Nasdaq is due for a short-term bounce following the bludgeoning it has received as of late.  Given that these options expire in three days, this is clearly a short-term trade.

[nutsterrt]

Probably right. Thanks setravis

[setravis]

Probably right. Thanks setravis

Your welcome...I just think your log will do well here for you "Viewers" on the Options Board.
Good Luck with all your trades...Make some Bucks !! 

[nutsterrt]

Adding a much longer-term position today.
Today I made the purchase of:
Ten (10) VOHAT: Rio Jan 2009 CALL 50.00 strike.  Purchased at 2.50, transaction cost $2500.
Objective: None; just make money!

Buying these leap options give me the opportunity to just let these ride the ups and downs of the upcoming year.  I'm a big fan of RIO and they have treated me well over the years.  Will hold these contracts as long (or as little) as needed for them to become profitable.


Current positions:
10 VOHAT at 2.50
10 QQQLW at 0.79

EDIT: Just editing some funky wording.

[nutsterrt]

Adding a VERY short-term position today.

Today I made the purchase of:
Thirty (30) QQQLY: QQQQ Dec 2007 CALL 51.00 strike.  Purchased at 0.14, transaction cost $420.
Objective: 0.28, or +100%

This is actually my version of a play on RIMM earnings after-hours today.  Expecting a good quarter out of RIMM which I'm expecting to lead a nice Naz rally tomorrow. 

Current positions:
30 QQQLY at 0.14
10 VOHAT at 2.50
10 QQQLW at 0.79 (likely to be sold today)

[nutsterrt]

Sold: Ten (10) QQQLW at 1.69, transaction of $1690.  Gain $900, or +114%.

Current positions:
30 QQQLY at 0.14
10 VOHAT at 2.50

Last three trades:
QQQLW: +114%

[gix330]

Hi nusterrt,
You are doing pretty well w/ option and it seems like you are focusing on leap call + short term call to hedge and max your profit? As you meantioned turn 1000 to 100000 target, so you will just keep updating this post to give us the image how it works? I think it would be a great idea.
BTW...i sold Qs Dec 51 Call today and MA Dec 220 Call earlier time with fat gain, and I think I will move to MA Jan 220 Call, and LDK Jan 4X Put.
Good luck on tomorrow's ER play!

[nutsterrt]

Morning gix; well, for me anyway 

Thanks for reading.  As you stated, yes, I'm basically using a strategy focusing on leap calls with very short-term call/puts to hedge. 

I actually mentioned that I was NOT going to be seeking an objective target, but may decide to do so in the future.  Just don't really feel like keeping track of it just yet...maybe a New Year's resolution!  If I were to attempt such a strategy, I would likely use a model similar to what I do now: seek a double on the trade, and once achieved, set a trailing stop to maximize potential gains.

You might be a little late on the LDK put if you didn't get in before yesterday's drop.  If you did manage, congrats  ;  you're probably sitting on a nice gain.

The last of my Q contracts expire today, so I'll be out of 'em by the close.  Looks like I beat my target by a long shot on that one.

Good luck to you! 

[gix330]

haha...you are right about LDK, i did not jump in, instead, I will wait after OE, and i expect it drop to 3X. I will sit and watch it closely. But take a look at LDK vs WFR and PEIX vs ADM, ethoal is really hot in 2006 and solar is hot in 2007. after the wave of ethoal gone, the price of ADM now compare to its peak in 2006 is almost the same. but the price of PEIX now compare to its peak in 2006? WOW...only 1/4
So i think when trading on those hyper stocks, only 1st tier stocks is worthy doing FA and holding. So stock like LDK, it is risky, but we could make more.

Also, today Qs gap up 0.8, and it is heavily over shot, so I will be careful of the coming drop, the big one.


Anyway, we should all take some rest and get ready for the big holiday!

Merry Xmas to you and yours!

[nutsterrt]

Sold: Thirty (30) QQQLY at 0.76, transaction of $2280.  Gain $1860, or +443%.


Probably calling it quits until after the holiday; make it a good one, everybody 

Current positions:
10 VOHAT at 2.50

Last three trades:
QQQLY: +443%
QQQLW: +114%

[bjc]

I declare war, BOOM. 

Keep dominating!  Applaud..

[nutsterrt]

Haha, thanks!  A little friendly competition around here is in order!

Today I made the purchase of:
Two (2) APVAB: AAPL Jan 2008 CALL 210.00 strike.  Purchased at 4.75, transaction cost $950.
Objective: 9.50, or +100%

Just hoping for a little bit of a bounce after the new year.  Figure there has been some tax selling pressure here on low volume and would like to see the uptrend continue following the holiday!

Last three trades:
QQQLY: +443%
QQQLW: +114%

[nutsterrt]

Today I made the purchase of:
Five (5) RIGAJ: RIG Jan 2008 CALL 150 strike.  Purchased at 1.75, transaction cost $875.
Objective: 3.50, or +100%

Now, I've probably already paid too much for these contracts, as the stock is in process of moving down.  However, given the fact it's still slightly positive in all of this weakness, I'm comfortable with that.  Stock opened today in the 146's; I think on a neutral to positive day, it'll move back up there in a hurry.  The closer oil gets to 100 bucks, the better it looks for RIG.

bjc's on to something with those RIG LEAP calls.  Will probably join him in the coming weeks.


Current positions:
10 VOHAT at 2.50
2 APVAB at 4.75
5 RIGAJ at 1.75

[nutsterrt]

RIG has made a huge turnaround thus far.  For the record, I only have around $20,000 equity in the account that houses my option trades, so daytrading is out most of the time.  If I exceed my target intraday, it becomes my stop as of the following session.

[nutsterrt]

Aye yuy yuy...the RIG and AAPL calls are getting brutalized.  Wouldn't be surprised if I end up having to just take them as an early write-off for 2008 

In the meantime, I'll have to just play opportunities as they come...such as SOLF.  Solars are getting crushed today, and SOLF was down as much as 20% this morning, so...

Today I made the purchase of:
Five (5) QFGAG: SOLF Jan 2008 CALL 35 strike.  Purchased at 1.75, transaction cost $875.
Objective: 3.50, or +100%

The company seems sound to me, and people may have just hit the panic button short-term.  I can't really see this one going out for a loss.

Current positions:
10 VOHAT at 2.50
2 APVAB at 4.75
5 RIGAJ at 1.75
5 QFGAG at 1.75