Hi Traders
Well my Nov. results suffered some due to my leaving town for 12 days in the middle of this option period.
With a couple of naked calls to spice things up I netted 5164 for the month. Not super, but being cautious and being gone for some time it is acceptable.
I hope all of you that are trading are having success. Keep the comments coming as I learn from each and enjoy reading of the success of other traders.
Get ready December, here we come.
Keep your fingers crossed for a Santa Claus rally.
Jerry
4 comments:
Jerry,
Thanks for your results post. I am always curious as to how someone of your experiences does. One day I will net that and more if i stay on target. Still alot to learn before I go live.
I have 5 contracts on RIMM right now for DEC. I will see how they open tomorrow. Depending on how they open I may take my profit and gain some experience in some others stock. We will see how it goes. If they don't move much I will wait it out for time decay.
Fulgore
Hey Jerry!
Found this blog when you were gone and love your approach. Got your e-book (first iphone kindle book - Love it!!!) Loved your approach and strategy. Love how clear cut it is. Got some practice in last week and one learning lesson then some success!
One question, as I'm looking at the weeklys vs. monthlys for NFLX, AMZN, etc., I noticed that your rule of selling if stock moves against you (2x what you paid), it doesn't appear that it gives the stock much "wiggle" room for it's daily ups and downs (>$2)... I may end stopping out too soon. Of course I can increase the amount at risk to maybe 3x the risked value. But I'm wondering if you've ever had a problem with this.
Hope I'm not "over" analyzing this, but I'm going into a bit of "paralysis by analysis."
Thanks again for sharing all your experience and knowledge! I LOVE the Crumb concept!!
Deirdre
Hi Deirdre, Yes often I end up getting out with a loss when all of my common sense says 'hang in there'. But that line of thinking left me with a well over 1 million dollar loss. True, often (most times) i am closing early, but I refuse to let my losses mount. I also quite often prematurely close my good positions. That is a personal problem I fight. (itchy feet to get moving into a better position) But I always remind myself that part of the fun of trading is doing what makes me feel good. If it were all worry and boring, I might as well find another style of investing.
Glad you enjoyed the book.
Jerry
Jerry,
Well it looks like RIMM opened well today. So with the weekend time decay and RIMM headed up (currently at 59.7 - up 1.67) the buy back premium is dropping. I will wait it out for a bit to see what happends. I still have till DEC exp so there is still alot of time decay left.
Fulgore
Post a Comment