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Tag Archives: options
Bought 4 MFC 10OCT Puts 17.00 @ $1.48, Mark $16.38
The market is under pressure as illustrated by EUR/USD weakness (Figure 1). I’m not sure which way it will go just yet. But I am placing my bet on the bears as oil (DBO) has already cracked. I waited the whole week for a retracement to re-enter a short position. I thought the FOMC announcement [...]
Sold 3 ABX 10OCT Puts 46.00 @ $4.15, Mark $43.97, Breakeven exit
My Barrick Gold short isn’t working as I hoped. My puts premium is moving closer to breakeven to my purchase price of $4.00. Furthermore, the market is cracking above resistance levels today. In particular, ABX.TO is marking a bullish engulfing candlestick pattern after a test of its 50-day moving average support (Figure 1). Yes I [...]
Bought 3 ABX 10OCT Puts 46.00 @ 4.00, Mark $44.67
Right on the heel of my oil short loss, I am taking another stab at shorting the market. This one is Barrick Gold (ABX.TO). I am moving away from shorting financials because the puts premium are almost doubled that of the calls! It seems that too many people are betting the banks will take a [...]
Sold 6 CM 10OCT Put 74.00 @ 6.60 Mark $70.70, +8.0%
The market seem ready to crack but it is not. So I am taking profit on my CIBC short here on a weaker volumn retest of the $70.50 support (Figure 1). I bought 3 puts contracts four weeks ago at $5.00 when CM was trading at $74.02. Then I added 3 more contracts with the [...]
Bought 3 CM 10OCT Puts 74.00 @ 5.65, Mark 72.30
I am doubling my CIBC (CM.TO) short on test of $72.50 resistance about half an hour before the close. $72.50 is the 50% retracement level on that big dive in beginning of May. See Figure 1. Moreover, $72.50 is the bottom of a congestion zone in middle of May. The trading volumes in CM.TO and [...]
Bought 3 CM.TO 10Oct Puts @ 5.00, Mark $74.02
I’ve been watching CIBC (CM.TO) for a few months now. CM finally presented a shorting opportunity that I took today. Figure 1 speaks for itself. Furthermore, the lackluster rally in EUR/USD after the ECB’s vouch for confidence is encouraging for the bears. $74.00 – $74.50 is a strong resistance for CM. There are three scenarios [...]
Sold 12 CVE.TO Puts @ 2.90 Mark $27.50, +10% gain
I closed my short Cenovus Energy (CVE.TO) position this morning as crude oil broke below $80 briefly and the Dollar Index rose above $84. My original target was $27 for this short. But considering the fact that I mistakenly doubled my position size, I am closing this trade a step above at this $27.50 support [...]
My name is Paul and I am a full-time engineer, part-time trader. Back in 2000, I deposited my $5000 interest-free student loan with an online broker. Since then, my interest in trading has become an obsession.
Sold 4 MFC 10OCT Puts 17.00 @ @1.43, Mark $16.27, Loss -0.5%