Daily P/L - Page 106

Last night was a complete mindf***. I'm long SLV puts and fully expected waking up to a 1k dollar loss, instead I ended up ~1k on the day, as high as 1400 at one point.

Quote:

Originally Posted by RebelT09 

Quote:

Originally Posted by REI_Chris 

Last night was a complete mindf***. I'm long SLV puts and fully expected waking up to a 1k dollar loss, instead I ended up ~1k on the day, as high as 1400 at one point.

Go check out the volume on the July 25 puts for SLV. That chunk was bought before silver got hit.

Yeah, it's a single trade someone put on, costing around 1m for the trade. Nobody knows if it's a hedge, or a flat out bearish bet. Either way, it raises flags. Nobody puts a bet on like that if they feel silver is going higher/ remaining flat.
 

Yeah, I have a price target of 37-38 SLV, but if we get another huge follow through down day I will cover most of my position. Today's price action was very bearish short-term, so I wanted to see if we will follow through tomorrow on today's gravestone doji at a 'peak.' Monster volume today as well.

There is no other side. It was noted that it is indeed a directional biased trade, but for all we know he could have 100m in silver too. Either way, that's an odd strike to choose if you are hedging a large position. Nobody puts something that large on without at least believing we're overbought short-term or are going to go down at least some. At this point, he only needs a few dollar drops to make a million on his trade.

Ha, just averaging down right?

I should say there was no other side as far as volume in other strikes/ options. There's always another side to every trade, ie a seller for every buyer and vice versa. However, those 100,000 options didn't come from one lot and the premium paid for them had to be decent.

Quote:

Originally Posted by cire2222 

I think you are in a good position. Just keep the trade your own and don't worry about what that guy is doing.  Every time i have seen something like that in options it was always a better trade to take the other side. Not to say this one wont play out but do it because it was your trade, dont change your trade thought because of what you have seen.

Agreed, that's not even on my radar. I have my price objectives, my stops set mentally, etc and am ready to go!

Lost about 1500$ on a 1 week trade, 80K$ position size... was a starter position that I was going to hold for a while but now I am waiting for the markets to pull back and the speculative bios to sell off... Was up 4K$ on it at one point but had internet problems. No screen shot because I would rather not divulge what stock it is.

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Hey Cire, what are the future market hours?
 

Quote:

Originally Posted by cire2222 

today i traded as planned. my only error was taking a profit early when the signal called for a bigger move. Still learning to trade this newer method, if it keeps working out well i will up my size again.

 

nice trades, cire!

here's market hours for oil futures (basically 23hrs/day)

9:00a.m. - 2:30p.m. EST

GLOBEX 6:00p.m. - 5:15p.m. Sunday - Friday EST

so only oil is open 23hours a day? why does it close that 1 hour?
 

Quote:

Originally Posted by IchibomB 

nice trades, cire!

 

here's market hours for oil futures (basically 23hrs/day)

 

9:00a.m. - 2:30p.m. EST

GLOBEX 6:00p.m. - 5:15p.m. Sunday - Friday EST