[drunkle]

same as i’m in now, short the financials and builders…

i’d look for a strike and expire that minimizes cost while still being in reasonable range of movement… so like, i picked up dec 32.50 puts on citi, 12.5 dec put on cfc… expire is really close for dec though so i dont know if it’d be worth it at this point. but again, jan and farther out contracts are probably going to be decent buys.

one thing i’d had luck with is buying the trend on or near expiration. so like, i saw some stock, wfc maybe? last month that was moving up (or down, cant remember exactly) and was within a half dollar of the nearest strike. the contracts were selling relatively cheap so i threw a few bucks at it. sure enough, the trend pushed it far enough to make money. i was guessing/rationalizing at the time that expirations and short covering was the reason for the day’s uptick. this time around, i think covering calls will push things down through expiration day.

btw, i just started playing earlier this year. i’ve been up as much as 50% and down as low as 30% off. i’m generally takling out of my ass on this stuff so dont take my opinion with any serious weight. if anything, i’ve noticed that any time i mention an option play with my boss who is a permabull, i get creamed the next day. he even took to playing opposite of any play i take. and although his last play was looking good (cfc call @ 12.5), he either cashed out and made money before today or he got creamed… and let me mention my etrade debacle, went all in a month too fricken early, got demolished, went back in the next month for a timid amount that made everything back and then some. but damned if only…

[drunkle]

same as i’m in now, short the financials and builders…

i’d look for a strike and expire that minimizes cost while still being in reasonable range of movement… so like, i picked up dec 32.50 puts on citi, 12.5 dec put on cfc… expire is really close for dec though so i dont know if it’d be worth it at this point. but again, jan and farther out contracts are probably going to be decent buys.

one thing i’d had luck with is buying the trend on or near expiration. so like, i saw some stock, wfc maybe? last month that was moving up (or down, cant remember exactly) and was within a half dollar of the nearest strike. the contracts were selling relatively cheap so i threw a few bucks at it. sure enough, the trend pushed it far enough to make money. i was guessing/rationalizing at the time that expirations and short covering was the reason for the day’s uptick. this time around, i think covering calls will push things down through expiration day.

btw, i just started playing earlier this year. i’ve been up as much as 50% and down as low as 30% off. i’m generally takling out of my ass on this stuff so dont take my opinion with any serious weight. if anything, i’ve noticed that any time i mention an option play with my boss who is a permabull, i get creamed the next day. he even took to playing opposite of any play i take. and although his last play was looking good (cfc call @ 12.5), he either cashed out and made money before today or he got creamed… and let me mention my etrade debacle, went all in a month too fricken early, got demolished, went back in the next month for a timid amount that made everything back and then some. but damned if only…

[drunkle]

same as i’m in now, short the financials and builders…

i’d look for a strike and expire that minimizes cost while still being in reasonable range of movement… so like, i picked up dec 32.50 puts on citi, 12.5 dec put on cfc… expire is really close for dec though so i dont know if it’d be worth it at this point. but again, jan and farther out contracts are probably going to be decent buys.

one thing i’d had luck with is buying the trend on or near expiration. so like, i saw some stock, wfc maybe? last month that was moving up (or down, cant remember exactly) and was within a half dollar of the nearest strike. the contracts were selling relatively cheap so i threw a few bucks at it. sure enough, the trend pushed it far enough to make money. i was guessing/rationalizing at the time that expirations and short covering was the reason for the day’s uptick. this time around, i think covering calls will push things down through expiration day.

btw, i just started playing earlier this year. i’ve been up as much as 50% and down as low as 30% off. i’m generally takling out of my ass on this stuff so dont take my opinion with any serious weight. if anything, i’ve noticed that any time i mention an option play with my boss who is a permabull, i get creamed the next day. he even took to playing opposite of any play i take. and although his last play was looking good (cfc call @ 12.5), he either cashed out and made money before today or he got creamed… and let me mention my etrade debacle, went all in a month too fricken early, got demolished, went back in the next month for a timid amount that made everything back and then some. but damned if only…

[drunkle]

same as i’m in now, short the financials and builders…

i’d look for a strike and expire that minimizes cost while still being in reasonable range of movement… so like, i picked up dec 32.50 puts on citi, 12.5 dec put on cfc… expire is really close for dec though so i dont know if it’d be worth it at this point. but again, jan and farther out contracts are probably going to be decent buys.

one thing i’d had luck with is buying the trend on or near expiration. so like, i saw some stock, wfc maybe? last month that was moving up (or down, cant remember exactly) and was within a half dollar of the nearest strike. the contracts were selling relatively cheap so i threw a few bucks at it. sure enough, the trend pushed it far enough to make money. i was guessing/rationalizing at the time that expirations and short covering was the reason for the day’s uptick. this time around, i think covering calls will push things down through expiration day.

btw, i just started playing earlier this year. i’ve been up as much as 50% and down as low as 30% off. i’m generally takling out of my ass on this stuff so dont take my opinion with any serious weight. if anything, i’ve noticed that any time i mention an option play with my boss who is a permabull, i get creamed the next day. he even took to playing opposite of any play i take. and although his last play was looking good (cfc call @ 12.5), he either cashed out and made money before today or he got creamed… and let me mention my etrade debacle, went all in a month too fricken early, got demolished, went back in the next month for a timid amount that made everything back and then some. but damned if only…

[drunkle]

same as i’m in now, short the financials and builders…

i’d look for a strike and expire that minimizes cost while still being in reasonable range of movement… so like, i picked up dec 32.50 puts on citi, 12.5 dec put on cfc… expire is really close for dec though so i dont know if it’d be worth it at this point. but again, jan and farther out contracts are probably going to be decent buys.

one thing i’d had luck with is buying the trend on or near expiration. so like, i saw some stock, wfc maybe? last month that was moving up (or down, cant remember exactly) and was within a half dollar of the nearest strike. the contracts were selling relatively cheap so i threw a few bucks at it. sure enough, the trend pushed it far enough to make money. i was guessing/rationalizing at the time that expirations and short covering was the reason for the day’s uptick. this time around, i think covering calls will push things down through expiration day.

btw, i just started playing earlier this year. i’ve been up as much as 50% and down as low as 30% off. i’m generally takling out of my ass on this stuff so dont take my opinion with any serious weight. if anything, i’ve noticed that any time i mention an option play with my boss who is a permabull, i get creamed the next day. he even took to playing opposite of any play i take. and although his last play was looking good (cfc call @ 12.5), he either cashed out and made money before today or he got creamed… and let me mention my etrade debacle, went all in a month too fricken early, got demolished, went back in the next month for a timid amount that made everything back and then some. but damned if only…

[drunkle]

rusty:
pass on the free massage. i think you’re a cool cat, i’m sure you’re good at it, but you can keep your hands to yourself.

as for a np monitor, yeah, figure you can just do a look up on the realty sites. i’ve been playing with the idea of harvesting reo’s from the various bank sites and making them searchable, but… meh. between laziness and working, laziness wins.

the cure for blogging is simple. cancel your internet. you’ll rediscover the joy of going out, going to the bar, hanging out with friends… or reading a book, fixing your car, cleaning the garage… oh yeah, the joys of cleaning the garage…

anyway, yeah. turn off the internet for a couple months. it’s like tweeking, you’ll be so bored and shiftless you’ll do anything and everything.

[drunkle]

rusty:
pass on the free massage. i think you’re a cool cat, i’m sure you’re good at it, but you can keep your hands to yourself.

as for a np monitor, yeah, figure you can just do a look up on the realty sites. i’ve been playing with the idea of harvesting reo’s from the various bank sites and making them searchable, but… meh. between laziness and working, laziness wins.

the cure for blogging is simple. cancel your internet. you’ll rediscover the joy of going out, going to the bar, hanging out with friends… or reading a book, fixing your car, cleaning the garage… oh yeah, the joys of cleaning the garage…

anyway, yeah. turn off the internet for a couple months. it’s like tweeking, you’ll be so bored and shiftless you’ll do anything and everything.

[drunkle]

rusty:
pass on the free massage. i think you’re a cool cat, i’m sure you’re good at it, but you can keep your hands to yourself.

as for a np monitor, yeah, figure you can just do a look up on the realty sites. i’ve been playing with the idea of harvesting reo’s from the various bank sites and making them searchable, but… meh. between laziness and working, laziness wins.

the cure for blogging is simple. cancel your internet. you’ll rediscover the joy of going out, going to the bar, hanging out with friends… or reading a book, fixing your car, cleaning the garage… oh yeah, the joys of cleaning the garage…

anyway, yeah. turn off the internet for a couple months. it’s like tweeking, you’ll be so bored and shiftless you’ll do anything and everything.

[drunkle]

rusty:
pass on the free massage. i think you’re a cool cat, i’m sure you’re good at it, but you can keep your hands to yourself.

as for a np monitor, yeah, figure you can just do a look up on the realty sites. i’ve been playing with the idea of harvesting reo’s from the various bank sites and making them searchable, but… meh. between laziness and working, laziness wins.

the cure for blogging is simple. cancel your internet. you’ll rediscover the joy of going out, going to the bar, hanging out with friends… or reading a book, fixing your car, cleaning the garage… oh yeah, the joys of cleaning the garage…

anyway, yeah. turn off the internet for a couple months. it’s like tweeking, you’ll be so bored and shiftless you’ll do anything and everything.

[drunkle]

rusty:
pass on the free massage. i think you’re a cool cat, i’m sure you’re good at it, but you can keep your hands to yourself.

as for a np monitor, yeah, figure you can just do a look up on the realty sites. i’ve been playing with the idea of harvesting reo’s from the various bank sites and making them searchable, but… meh. between laziness and working, laziness wins.

the cure for blogging is simple. cancel your internet. you’ll rediscover the joy of going out, going to the bar, hanging out with friends… or reading a book, fixing your car, cleaning the garage… oh yeah, the joys of cleaning the garage…

anyway, yeah. turn off the internet for a couple months. it’s like tweeking, you’ll be so bored and shiftless you’ll do anything and everything.

[drunkle]

when etrade went from 15 to 3.50, i made a decent amount. i also lost a decent amount from wrong timing.

cfc has been good to me.

freddie mac has been good, but when it hit 45, i didn’t think it would slide any more. did it ever and i missed out.

i’ve lost plenty from various bets ranging from wells fargo to intel. can’t remember all the losers and dont want to.

i’m still playing cfc and etrade. citi, bofa, meritage, hov, dr horton, lennar have been added to the play list. it looks like a good time to get in on jan+ puts. the run up of the past week has seen movement of some 20% in these stocks. based purely on rate cut speculation. meanwhile, the news has been all bad. i’m betting (literally) that there’s plenty of action left.

over the past 4-5 months, the market has gone roller coaster, but these housing and financial stocks are on a death march downwards, never reaching their prior highs. this is like the 3rd run up… is it the last? are people sick of hearing “it’s the bottom for financials and home builders!” yet and ready to just cut altogether? the news is out about goldman shorting the market, are the other funds going to join in?

most interesting are the straddles, stocks like gm and citi have massive straddles. someone is making a killing on both the run up and the subsequent slide…

[drunkle]

when etrade went from 15 to 3.50, i made a decent amount. i also lost a decent amount from wrong timing.

cfc has been good to me.

freddie mac has been good, but when it hit 45, i didn’t think it would slide any more. did it ever and i missed out.

i’ve lost plenty from various bets ranging from wells fargo to intel. can’t remember all the losers and dont want to.

i’m still playing cfc and etrade. citi, bofa, meritage, hov, dr horton, lennar have been added to the play list. it looks like a good time to get in on jan+ puts. the run up of the past week has seen movement of some 20% in these stocks. based purely on rate cut speculation. meanwhile, the news has been all bad. i’m betting (literally) that there’s plenty of action left.

over the past 4-5 months, the market has gone roller coaster, but these housing and financial stocks are on a death march downwards, never reaching their prior highs. this is like the 3rd run up… is it the last? are people sick of hearing “it’s the bottom for financials and home builders!” yet and ready to just cut altogether? the news is out about goldman shorting the market, are the other funds going to join in?

most interesting are the straddles, stocks like gm and citi have massive straddles. someone is making a killing on both the run up and the subsequent slide…

[drunkle]

when etrade went from 15 to 3.50, i made a decent amount. i also lost a decent amount from wrong timing.

cfc has been good to me.

freddie mac has been good, but when it hit 45, i didn’t think it would slide any more. did it ever and i missed out.

i’ve lost plenty from various bets ranging from wells fargo to intel. can’t remember all the losers and dont want to.

i’m still playing cfc and etrade. citi, bofa, meritage, hov, dr horton, lennar have been added to the play list. it looks like a good time to get in on jan+ puts. the run up of the past week has seen movement of some 20% in these stocks. based purely on rate cut speculation. meanwhile, the news has been all bad. i’m betting (literally) that there’s plenty of action left.

over the past 4-5 months, the market has gone roller coaster, but these housing and financial stocks are on a death march downwards, never reaching their prior highs. this is like the 3rd run up… is it the last? are people sick of hearing “it’s the bottom for financials and home builders!” yet and ready to just cut altogether? the news is out about goldman shorting the market, are the other funds going to join in?

most interesting are the straddles, stocks like gm and citi have massive straddles. someone is making a killing on both the run up and the subsequent slide…

[drunkle]

when etrade went from 15 to 3.50, i made a decent amount. i also lost a decent amount from wrong timing.

cfc has been good to me.

freddie mac has been good, but when it hit 45, i didn’t think it would slide any more. did it ever and i missed out.

i’ve lost plenty from various bets ranging from wells fargo to intel. can’t remember all the losers and dont want to.

i’m still playing cfc and etrade. citi, bofa, meritage, hov, dr horton, lennar have been added to the play list. it looks like a good time to get in on jan+ puts. the run up of the past week has seen movement of some 20% in these stocks. based purely on rate cut speculation. meanwhile, the news has been all bad. i’m betting (literally) that there’s plenty of action left.

over the past 4-5 months, the market has gone roller coaster, but these housing and financial stocks are on a death march downwards, never reaching their prior highs. this is like the 3rd run up… is it the last? are people sick of hearing “it’s the bottom for financials and home builders!” yet and ready to just cut altogether? the news is out about goldman shorting the market, are the other funds going to join in?

most interesting are the straddles, stocks like gm and citi have massive straddles. someone is making a killing on both the run up and the subsequent slide…

[drunkle]

when etrade went from 15 to 3.50, i made a decent amount. i also lost a decent amount from wrong timing.

cfc has been good to me.

freddie mac has been good, but when it hit 45, i didn’t think it would slide any more. did it ever and i missed out.

i’ve lost plenty from various bets ranging from wells fargo to intel. can’t remember all the losers and dont want to.

i’m still playing cfc and etrade. citi, bofa, meritage, hov, dr horton, lennar have been added to the play list. it looks like a good time to get in on jan+ puts. the run up of the past week has seen movement of some 20% in these stocks. based purely on rate cut speculation. meanwhile, the news has been all bad. i’m betting (literally) that there’s plenty of action left.

over the past 4-5 months, the market has gone roller coaster, but these housing and financial stocks are on a death march downwards, never reaching their prior highs. this is like the 3rd run up… is it the last? are people sick of hearing “it’s the bottom for financials and home builders!” yet and ready to just cut altogether? the news is out about goldman shorting the market, are the other funds going to join in?

most interesting are the straddles, stocks like gm and citi have massive straddles. someone is making a killing on both the run up and the subsequent slide…

[Author]

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