Tag Archives: options

Sold 6 CM 10OCT Put 74.00 @ 6.60 Mark $70.70, +8.0%

By Paul | Published: June 8, 2010
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 [...]
Posted in Stocks | Also tagged CM.TO, exit | Leave a comment

Bought 3 CM 10OCT Puts 74.00 @ 5.65, Mark 72.30

By Paul | Published: June 2, 2010
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 [...]
Posted in Stocks | Also tagged CM.TO, entry, RRSP | 1 Comment

Bought 3 CM.TO 10Oct Puts @ 5.00, Mark $74.02

By Paul | Published: May 12, 2010
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 [...]
Posted in Stocks | Also tagged CM.TO, entry, financial | 1 Comment

Sold 12 CVE.TO Puts @ 2.90 Mark $27.50, +10% gain

By Paul | Published: May 5, 2010
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 [...]
Posted in Stocks | Also tagged CVE.TO, Energy, exit, RRSP, TSX | 1 Comment

I just made a grave fundamental mistake in my CVE.TO trade

By Paul | Published: April 23, 2010
Cenovus Energy (CVE.TO) tested 27.50 support and then bounced back to break the short-term downtrend line above 28.50 or so, see Figure 1.  Naturally, I don’t want to turn a profitable trade into a losing one.  So I wanted to sell my puts options on CVE.TO while I can still exit at near breakeven.  However, [...]
Posted in Risk Management | Also tagged CVE.TO, entry, mistake | 1 Comment

Bought +3 CVE.TO 10JUL17 Puts 30.00.MX @ 2.45, Mark $28.64

By Paul | Published: April 21, 2010
Update: Cenovus offers an explanation of why it tanked almost 5% today (Apr 22). I doubled down on my short Cenovus Energy (CVE.TO) position this morning.  The price of CVE.TO moved in my favour a day after my initial short entry.  It then bounced back up strongly (about 2.5% rise in a day) yesterday to [...]
Posted in Stocks | Also tagged CVE.TO, Energy, entry | 1 Comment