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RE: The Greg Bananarino "truth in disclosure" trade log
New trade for Bananarino. He in general exits his trades in 3 days or less yet he's buying a QQQ Sept expiry straddle at the 130 strike. Let's check volume and price for both the puts and calls for that purtickler contract. Only 3 contracts traded in the calls at 11.82 and he paid 1.35 for the $130 strike puts. So he has $1182 in a single call contract and an equal amount of the puts would be about 10 at 1.35 as the Q's opened like this.
I like the put side of the trade anyhoo. Let's see if he turns this trade into an overall loser.
Q's now signaling sell and I will try and pick up the FB short also. It's only at 152.65 as the Q's trade at 140.46. The compooters are already generating nice volume in teh July 7th expiry $138.00 puts but no takers at .88 asked so I will wait just a tad longer. Target is still 135.25 so even if the Q's only break to last week's 137.45..ish low so at the current .88 asked price it is "almost" at a break even trade. The Q's do have some upside wiggle room so patients, Dr....wait on Mark Suckerberg to buy out Uber...for $100 bil :-)
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Fund&symb=qqq&x=45&y=14&time=18&startdate=1%2F4%2F1999&enddate=6%2F12%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
FB already signaled sell on the open but I wouldn't consider the short unless it trades thru 153.57. Since I would be playing for a short termselloff it is best to go with a shorter term expiry and "hope" you can time it just perfectly. Imo it makes much more sense to just play the one side of the trade. The target that the compooterized playas are working hard is the $150 strike and I like the July 7 expiry...just in case there are some FB fireworks before the 4th of Julie.
The July 7 FB $150 puts will trade lower than the current 1.35..the same price Greg Bananarino paid for his winning side of his Sept FB trade cept he'll close it out to cover the losses being incurred on the other side of the trade.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=fb&x=48&y=17&time=3&startdate=1%2F4%2F1999&enddate=6%2F12%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
There's the sell signal I have been waiting for as FB trades thru 153.75. I'll log in teh market trade at the current 1.07 market for 3 FB July 7th expiry $150 puts. Let's see if I can beat Greg Bananarino with a simple $300 wager. Last trade is 1.15. Bananarino is still holding his straddle.
https://www.traderschoice.net/money-page--stock-picks.html
6/22 update: Bananrino closed out his QQQ's Sept expiry straddle at the $130 strike today. Let's check pricing since I logged in what he paid. His calls are definitely a loser tho. Let's see. The calls traded all day between $12 and 12.50, the $130 puts have a range of ,,,actually, there is no trade in teh puts but the bid is at 1.72 so that's what he gets on a "no trade" day. He made .30 cents on teh one call contract and .35 on each of 5 put contracts, about $175.00. He covered his expenses on this trade. I didn't trade against his Q's trade as the Q's did not generate a new sell signal after he was already in. He put about $1800 at risk to make about $160 after commish. Definitely not "killing it" but at least he banked a winner for a change. :-) He also closed out the FB straddle. I'll check that next.
These FB 7/6 expiry puts I posted in order to show Greg how to "actually" trade FB are now trading at 1.61. My entry was at 1.07. Not too bad for 1 trade that lasted 5 trading days. I'm working on a long in UUP and short in USO right now as I feel those are the "correct" side of the new trades he posted and is spewing about.