I was not able to go to VIX board, so I’ll post my entry in VIX 21 Oct. PUTs @ $.5, my average on those is $.81 now; also have some Oct. 19 PUTs @ $.4
The board was down (I think), I exchanged few days ago AAPL Jun. $250 calls to $260 calls for $7.05, I bought this difference about two weeks ago for $2.75 – now my average on those ($260 calls) is about $4.5
Nicu 11:08 am on June 7, 2010 609 days ago Reply
In AAPL June $270 calls @ $2, trying to play an eventual spike today
Nicu 12:05 pm on June 7, 2010 609 days ago Reply
limit sell @ $4.2 for half, the other half @ $8.5, I’ll be away later
I’ll get home after the end of the keynote
Nicu 2:35 pm on June 8, 2010 607 days ago Reply
so there was no spike
got some more @ $.9, average at $1.45 – trying to get even
Nicu 1:43 pm on June 9, 2010 606 days ago Reply
in AAPL Jul $260 calls @ $7.5
Nicu 3:13 pm on June 9, 2010 606 days ago Reply
in AAPL June $260 calls @ $1.5
conshmillo 3:17 pm on June 9, 2010 606 days ago Reply
@nicu
I am monitoring intraday DIA. I will see at close if I may join you tomorrow.
Nicu 3:38 pm on June 9, 2010 606 days ago Reply
in AAPL Oct $270 calls @ 13.95
Nicu 9:59 am on June 10, 2010 606 days ago Reply
in AAPL Jul $260 calls @ $6
Nicu 9:47 am on June 16, 2010 600 days ago Reply
out of AAPL July $260 calls @ $12.25 (+ $6.25)
Nicu 10:15 am on June 16, 2010 600 days ago Reply
trailing stopped on 25% of my AAPL June $260 calls @ $4.4 (+ $1.4 compared to the average price paid)
Nicu 11:52 am on June 16, 2010 600 days ago Reply
out of 50% June AAPL $270 calls @ $1.01 (-$.44 on the average price, the deadline is approaching like a high speed train …)
Nicu 1:09 pm on June 16, 2010 599 days ago Reply
out of AAPL June calls : 25% of $260 calls @ $6.8, 25% @ $6.52 (average price about $3) and of the other half of $270 calls @ $1.13 (-$.32 – glad I escaped, even if we go to $280 tomorrow
)
admin 2:30 pm on June 16, 2010 599 days ago Reply
nice going!!
Nicu 3:24 pm on June 16, 2010 599 days ago Reply
@admin
thanks, just got stopped out my last quarter of June $260 calls @ $7.05 (+ $4.05)
I had the same # of $260 and $270 calls so this play is mostly profit (including the small loss on the $270 calls)
few days ago I thought I’ll have the second loss on AAPL calls (had some expired worthless in May) but I got lucky again, huh !
Nicu 9:39 am on June 17, 2010 599 days ago Reply
out of July AAPL $260 calls @ $17.75 (+ $10.25)
Nicu 10:01 am on June 21, 2010 595 days ago Reply
exchanged AAPL July $260 calls to $270 calls for $7.2
Nicu 2:55 pm on June 21, 2010 594 days ago Reply
in AAPL July $280 cals @ $7
Nicu 3:06 pm on June 21, 2010 594 days ago Reply
in AAPL Aug $290 calls @ $9.95
Nicu 3:07 pm on June 21, 2010 594 days ago Reply
I’m getting ready for earnings, I will improve them if she slides even to $250
Nicu 3:14 pm on June 21, 2010 594 days ago Reply
more Jul $280 @ $5.9
nolavabo 9:55 am on June 22, 2010 594 days ago Reply
I’ve been trying to pick the bottom in AAPL. Looks like it was yesterday. In July $270 calls for $11.05. This will run, as a minimum, until the iPhone 4 sales numbers are released, probably on Monday 28. Then there is earnings coming up, which will smash analysts’ expectations once again.
I will be looking to buy August calls if any pullback occurs.
Nicu 2:50 pm on June 23, 2010 592 days ago Reply
I was out today but two limit orders were executed : in AAPL Aug $280 calls @ $12.5, in AAPL Aug $290 calls @ $8.9
Nicu 9:36 am on June 28, 2010 588 days ago Reply
improved AAPL Aug calls from $290 to $280 for $3.35
Nicu 9:37 am on June 29, 2010 587 days ago Reply
more AAPL Aug $280 calls @ $10
Nicu 9:42 am on June 29, 2010 587 days ago Reply
improved AAPL July calls from $280 to $270 for $2.75
Nicu 10:02 am on June 29, 2010 587 days ago Reply
more VIX Oct 19 puts @ $.2, now average $.3
Nicu 10:19 am on June 29, 2010 587 days ago Reply
more VIX Oct 21 puts @ $.4, avg $.73
Nicu 10:31 am on June 29, 2010 587 days ago Reply
more AAPL Aug $280 calls @ $8
Nicu 5:00 pm on June 29, 2010 586 days ago Reply
I was out but the limit order I was hoping for was filled : improved AAPL Aug $280 calls to $270 calls for $3.3
Nicu 10:03 am on July 1, 2010 585 days ago Reply
improved AAPL Jul calls from $270 to $260 for $2.3
Nicu 10:38 am on July 1, 2010 585 days ago Reply
improved AAPL Aug calls from $270 to $260 for $3.3
with that, I’m all in, no more buying power ’cause I shorted Jan 12 $300 puts, no worry for a margin call, just that I cannot buy any more without selling some stock, for a smaller profit than projected
Nicu 11:58 am on July 12, 2010 574 days ago Reply
more July $260 calls @ $2.4, just gambling here
with the last available buying power I put an order for some more @ $2
Nicu 9:34 am on July 13, 2010 573 days ago Reply
more AAPL July $260 calls @ $2.03, last one, promise
Nicu 9:41 am on July 13, 2010 573 days ago Reply
brrrr, I could have get a lot more with the same money
Nicu 9:53 am on July 13, 2010 573 days ago Reply
more AAPL Aug $260 calls @ $9 (sold some shares for that @ $249.87)
mikeinmontreal 10:16 am on July 13, 2010 573 days ago Reply
Picked up Jan 12 260s for 48.75…weird to see everything up and Apple down. Should have picked up some long term CAT calls last month.
mikeinmontreal 10:18 am on July 13, 2010 573 days ago Reply
We would have been over 265 if not for this antenna BS… Almost a $20 hit on the stock.
Nicu 11:24 am on July 16, 2010 570 days ago Reply
in AAPL Jul $250 calls $2.2
mikeinmontreal 1:02 pm on July 16, 2010 569 days ago Reply
Man, the stock is just sitting there @ 250 @ 13h00.
Nicu 1:40 pm on July 16, 2010 569 days ago Reply
out of 1/3 AAPL Jul $250 calls @ $4.6, 1/3 @ $4.43, the other 1/3 on trailing stop $.9
mikeinmontreal 1:41 pm on July 16, 2010 569 days ago Reply
Great call!
Nicu 1:41 pm on July 16, 2010 569 days ago Reply
ok, out @ $3.66
conshmillo 1:50 pm on July 16, 2010 569 days ago Reply
@nicu
got out of my JUL250 @4.85 (in @2.90)
will look for possible re-entry. Dow is messing things up pretty badly today. can’t shake the drop.
Nicu 1:47 pm on July 16, 2010 569 days ago Reply
make few buck on those but lost more on Jul $260 calls that will expire in 2 hours
my hope now are on earnings and my Aug $260 calls
Nicu 2:43 pm on July 16, 2010 569 days ago Reply
in AAPL Aug $280 calls @ $3.75
conshmillo 3:44 pm on July 16, 2010 569 days ago Reply
made one more round trip on JUL250. From $1.99 to $2.60 for another .61 (30.65%)
mikeinmontreal 4:01 pm on July 16, 2010 569 days ago Reply
Now if we could only find out the August pin…..
Nicu 7:06 pm on July 17, 2010 568 days ago Reply
I added up all my trades on AAPL Jul calls starting in January and including the round trip from last Friday and to my surprise, thanks to several swings and despite getting greedy towards the expiration (added more and more calls), I turned a small global profit of about $2.8k including fees
I also added up and I’m in Aug calls for about $21k (price paid, the actual value now is less)
Nicu 9:35 am on July 19, 2010 567 days ago Reply
bought to cover AAPL Jan 11 $370 calls @ $2.85 (+ about $2.7)
Nicu 9:39 am on July 19, 2010 567 days ago Reply
improved AAPL Aug $280 calls to $260 calls for $5
Nicu 9:43 am on July 19, 2010 567 days ago Reply
in AAPL Jan 11 $300 calls @ $12.2
nolavabo 9:44 am on July 19, 2010 567 days ago Reply
AAPL is now worth more than it ever has been before, especially since earnings are nearly here and MUST be factored into the PPS. Everybody knows this, everybody knows AAPL is going to crush earnings again.
And the stock is nearly $30 off it’s all time highs. This is the illogic of the stock market. You can be right all the time, and still lose money.
AAPL’s EPS has been moving only upwards for the last 5 years. Therefore the stock price should too – but it went 100 202 115 185 78 272 and now 249. In the long run, the PPS will always come back to match the EPS, but in the short term strong divergences can occur. Timing is as important as direction. I believe AAPL is worth $300, but I also believe it’ll see $220-$230 first. $200 is not out of the question either. Looking back, the $78 price level was a gift. Try to view $200 as just another gift.
Nicu 10:10 am on July 19, 2010 567 days ago Reply
@nolavabo
I know what you mean, but there is a real chance that we see AAPL at $300 before October and if it goes there, I want to ride this wave for all it’s worth
Nicu 10:01 am on July 19, 2010 567 days ago Reply
improved AAPL Jan 11 $300 calls to $280 calls for $5.4 (those I bought few minutes ago)
Nicu 10:06 am on July 19, 2010 567 days ago Reply
in AAPL Oct $270 call @ $11.15 – again at max purchasing power, after unloading some AAPL
Nicu 10:23 am on July 19, 2010 567 days ago Reply
improved AAPL Oct $270 calls to $260 calls for $3.4
nolavabo 11:40 am on July 19, 2010 567 days ago Reply
It is possible to make time predictions reasonably well, and possible to make price predictions reasonably well. NOBODY can make price WITH time predictions consistently (except Goldman Sachs it seems).
I’m in calls for the earnings report. I will be selling and banking profit on any pop. I am considering closing down my entire Australian account and shifting the cash to the US to buy as much AAPL as I can when she eventually bottoms, wherever/whenever that is. Then sticking exclusively to writing covered calls to generate some income along the way. The market is sucking up too much of my time these days.
Nicu 3:57 pm on July 19, 2010 566 days ago Reply
in VIX Oct 21 puts @ $.25, now average of $.55
mikeinmontreal 5:15 pm on July 19, 2010 566 days ago Reply
In Oct 270s at around $10 and January 2012s at around $52 (ave. $56)…looks like it’s a repeat of last quarter so far….Opex around $250….two days of $244ish….hopefully same trend…$256-$272…for Wed-Fri….
Nicu 10:45 am on July 20, 2010 566 days ago Reply
sold AAPL Jan 12 $270 call @ $43.1 for buying power, got more Aug $260 calls @ $6.1
Nicu 10:46 am on July 20, 2010 566 days ago Reply
oh, -$3.9 on the call sold
Nicu 12:44 pm on July 23, 2010 563 days ago Reply
more AAPL Aug $260 calls @ 7.45, average about $12.9
Nicu 10:02 am on July 28, 2010 558 days ago Reply
exchanged Jan ’11 $240 AAPL calls to $250 calls for $6.35
Nicu 11:32 am on July 29, 2010 557 days ago Reply
more AAPL Aug $260 calls @ $5.9
Nicu 11:03 am on August 5, 2010 550 days ago Reply
in AAPL Aug $270 calls @ $2.2, I hope it will be for the very short term, ideally day trade
Nicu 12:38 pm on August 5, 2010 550 days ago Reply
stopped @ $2.16
Nicu 10:46 am on August 6, 2010 549 days ago Reply
in Aug $270 calls @ $1.7, again hoping for a day trade
Nicu 1:35 pm on August 6, 2010 548 days ago Reply
stopped @ $1.46, I think it’s not my thing, those day trades
Nicu 2:18 pm on August 6, 2010 548 days ago Reply
in AAPL Aug $260 calls @ $4.2, using the last bit of buying power
Nicu 9:48 am on August 9, 2010 546 days ago Reply
stopped @ $4.75 on half of the calls I got @ $4.2, still on the borderline with the margin calls
Nicu 10:54 am on August 9, 2010 546 days ago Reply
in AAPL Aug $270 calls @ $1.3, hopefully a lucky day trade
Ahhnold 5:48 pm on August 9, 2010 545 days ago Reply
Did you end up selling towards the end of the day Nicu? I’m avged down on Aug 270 calls at $1.90; almost sold before close. Not sure what will happen tomorrow with the Fed Reserve policy meeting thing.
Nicu 6:12 pm on August 9, 2010 545 days ago Reply
nope, I wanted about $1.7 as I did not get many of those and there are some fees … I took the risk to hold them overnight
FED is at 14:15
http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm
Nicu 9:41 am on August 10, 2010 545 days ago Reply
more $270 @ $1 (doubled the small position)
Nicu 1:35 pm on August 10, 2010 544 days ago Reply
felt forced (buying power) to cover the $300 Jan 12 put @ $69.2 (shorted @ $70.4)
I have made several mistakes with this damn thing :
– I did not anticipate correctly how much it will erode my buying power
– I did not set a trailing stop when AAPL was at $279
– I started cashing things that were not fully mature (shares and options) to cover for this shit
NEVER AGAIN ! (I hope some will learn from my rage and avoid this error)
Nicu 1:40 pm on August 10, 2010 544 days ago Reply
doubled again the position on Aug $270 calls @ $.75
Nicu 2:12 pm on August 10, 2010 544 days ago Reply
in Aug $260 calls @ $3.6
trying to swing them to limit damages
Nicu 3:01 pm on August 10, 2010 544 days ago Reply
in AAPL @ $260, just taking advantage of my new freedom (buying power)
Nicu 9:32 am on August 11, 2010 544 days ago Reply
more Aug $260 calls @ $2, this thing is killing me
caruso2323 12:37 pm on August 12, 2010 543 days ago Reply
@nicu
Since you are heavily playing with options , why don’t you subscribe to the paying real-time Maximum Pain ? Not sure how much they charge though …
The old data suggest : 250
http://www.optionpain.com/OptionPain/Option-Pain.php
Do you think the MM’s will pin it to 250 ?
Ahhnold 10:06 am on August 11, 2010 544 days ago Reply
I feel your pain nici. I’m avg on aug 270′s at around $1.36 and I really thought we’d be ok today with the late afternoon spike yesterday. These last couple months have been horrible
Nicu 10:32 am on August 11, 2010 544 days ago Reply
last block of Aug $270 calls @ $.34, average $.61, excluding fees
Nicu 11:14 am on August 11, 2010 544 days ago Reply
more Aug $260 calls @ $1.51
Nicu 12:43 pm on August 11, 2010 544 days ago Reply
in AAPL @ $250.13
conshmillo 12:58 pm on August 11, 2010 544 days ago Reply
nolav is the only one who sold day after earnings. I was at the computer in the morning after earnings, but it took too long to start up at 6:30AM and by the time I got there, it was already even. So I said to myself, I’ll wait a little bit. It never recovered.
As a defense I bought couple of days ago DIA SEP puts. Those are partially offsetting my AAPL loses. It is tempting to buy more long Apples today, but I don’t believe this will get much better before Friday reports are over.
Nicu 11:42 am on August 12, 2010 543 days ago Reply
stopped out of some $260 calls @ $1.41
other trailing stops set
Nicu 12:54 pm on August 12, 2010 543 days ago Reply
it may be $250 or $260; you may simply look at the open interest in the options chains (both calls and puts) and you easily guess the approximative max pain
anyway, as I said earlier, I’ll try to get safely out of those calls and stay away from the short term from now on
how is that you don’t have any long term calls ? you are so bullish on AAPL and you may set say 5% of your portfolio and buy out of the money Jan ’12 calls and if AAPL gets to $400 in 17 months, you probably win as much as 50% of your portfolio
example : Jan ’12 $280 calls are about $35 now so if AAPL gets to $400 even on the expiry day (few days before earnings, mind you), you my sell them for $120 ($400 – strike $280)
just an example, you do not put too much $ in it, no swings, no timing … just a bet on your long term bullishness
I have Jan ’12 $230 calls I got about 7 months ago; I also have Jan ’11 $250, $260 and $280 calls
Nicu 1:51 pm on August 12, 2010 542 days ago Reply
stopped again on Aug $260 calls @ $1.28
Still have about 2/3 of those, for which I consider waiting a bit longer
Nicu 1:57 pm on August 12, 2010 542 days ago Reply
stopped on all my Aug $270 calls @ $.22 – as I said earlier, failed day trade, not much money involved but obviously I’m not glad about it
Nicu 9:59 am on August 13, 2010 542 days ago Reply
in again Aug $260 calls @ $.98
Nicu 11:07 am on August 13, 2010 542 days ago Reply
even more @ $.75
Nicu 3:58 pm on August 13, 2010 541 days ago Reply
last block of Aug $260 calls @ $.53
conshmillo 4:13 pm on August 13, 2010 541 days ago Reply
@nicu
I am expecting little run to 255 by the middle of the next week. That would be about 40% retracement from most recent support of 246.69. If it does, I will most probably take it as we are in the MACD bearish territory and this down trend may resume.
Nicu 6:24 pm on August 13, 2010 541 days ago Reply
I will start selling those calls lightly around $1.5-$2, a bit more in the $3-$4 range and if they get to $4, I’ll put trailing stops on all of them – my average is still too high (did not compute it yet) to hope for a profit but I’ll try to limit the damage
Have a nice week-end all
Nicu 2:12 pm on August 16, 2010 538 days ago Reply
another small block of Aug $260 calls @ $.24
Nicu 3:31 pm on August 16, 2010 538 days ago Reply
improved Jan ’11 $280 calls to $270 calls for $3.3
Nicu 9:51 am on August 19, 2010 536 days ago Reply
i feel like an alcoholic, I got more $260 calls @ $.1
caruso2323 10:21 am on August 19, 2010 536 days ago Reply
nicu ! …
I don’t get it !… Do you expect that AAPL will rise to $260 by tomorrow ? … AAPL seems to be pinned for $250 till Tomorrow as options expire with max pain at 250
Nicu 10:34 am on August 19, 2010 536 days ago Reply
not really, I hoped in good numbers at 10am or AAPL to disconnect a bit from NASDAQ, none happened
it is enough for AAPL to go higher 2-3$ today to double that; it’s a very small position compared to what I lost in this play so some unexpected pop may help recover a bit from the rest …
caruso2323 4:14 pm on August 19, 2010 535 days ago Reply
I am better to profess this to others than to myself : The best thing to do after taking some losses is to STOP … The more we try to recuperate losses and the greater risks we tend to take.
2009 was a picnic compared to 2010 which sounds like a “war of attrition”, it is as if the dark forces wants to wear us off … I think the best one can do is to preserve capital at this stage, and manage risk at reasonable levels…
I just hope that from here on time is on our side… Each passing day raises the probability of good numbers to bring back AAPL to decent levels : ABOVE 265 ! …
Nicu 5:50 pm on August 19, 2010 535 days ago Reply
@caruso2323
you are perfectly right; those last buys represented at most 1% of the entire play (in $) with the hope to recover 2-5% … so the mistake is that I did not set an upper bound for how much to get into that BEFORE earnings, somehow I was too sure that earnings are great (were good, but I would not say great, only $.18 more than the previous quarter which did not have the iPad) and that there is no way it can stay under $260 for a full month
so I was the frog in the boiling water, never alert enough to jump out, OUCH !
Nicu 12:42 pm on August 24, 2010 531 days ago Reply
more VIX Oct 19 puts @ $.05, average $.175
Nicu 9:54 am on September 1, 2010 523 days ago Reply
in a bit more of VIX Oct 21 puts @ $.15 – I would like to average down once more @ $.10
mikeinmontreal 5:05 pm on September 8, 2010 515 days ago Reply
Dumped my Jan 11 260s, some Jan 11 270s and 280s after having averaged down last week and in mid-August….small profit, but at least I have a good amount of cash on hand. I have Jan 11 250s, 270s and 280s left, and some Jan 12 240s and 250s…waiting for job numbers tomorrow and see what the pin is on Friday. Still 6 weeks to earnings, which I think will be blockbuster, but 6 weeks in this market is a helluva long time….Looking to average down on my Jan 11 calls before earnings, some Apr 11 calls and some Jan 12 calls….GLTA
Nicu 2:30 pm on September 13, 2010 510 days ago Reply
exchanged Jan ’12 $230 calls to $240 calls for $6.1 credit
Nicu 3:16 pm on October 8, 2010 485 days ago Reply
out of the Oct. 21 VIX puts @ $.6 (those that I bought @ $.15)
I could sell everything now for a small profit on 21 puts and a small loss on 19 puts, but I waited for too long to give up like that
next limit sell @ $1 for those I got @ $.25
Nicu 3:25 pm on October 8, 2010 485 days ago Reply
extra comments on VIX options experience : they were a great deal in May when VIX was approaching 15 and options were new and priced with the stupid Black-Scholes formula (that is, IV about 40-60 for calls, for example, you could get Oct. 19 calls for $2, and sell them in July for $15) … now you cannot find VIX calls with IV less than 100, most interesting ones are at about 150 (notice that to define IV, we need the BS formula)
on the other side, they are european style options, meaning you cannot action them before expiration, which makes most puts trade at lower than the strike-VIX, situation in which the BS formula is not even defined, that is, there is no IV, the theory says this should not happen, still, I watch this state of things for more than one month
to conclude, I should have had the balls to buy those calls when I had the idea, before everybody got smart about VIX calls that can surge (+300% in one day) any time there is a stupid rumor about Spain going broke or something – we had plenty of those during the last months
Nicu 2:42 pm on October 12, 2010 481 days ago Reply
out of Oct VIX 19 puts @ $.2 (those I got at $.05 – more to go)
out of Oct VIX 21 puts @ $1 (those I got at $.25 – more to go)