What a ride today, I thought I had blown it when our Sep 530 puts (OEWUF) dropped back down to 18 1/2. I would have gladly taken $22 most of the afternoon, then the market went with us and we got back to $24!
We broke a basic rule today, one that we teach in Apprentice Toadster training, and we could have been burned. Those of you who have been through the training - remember: "Raise your sell point as the option price goes up. Don't let it go against you."
The trade today went against us and I should have cleared out earlier. We are lucky that the market came back down and saved the Toad. Enough school for today.
GUESS WHAT - The Jacksonville Jaguars are playing again tonight - SO, we are outta here, have to get ready for the game!
I owe you all bagels, so I'll have them here with
the coffee in the morning. See you then!
Toad Update 8/27/98 #4 14:38 EMAIL and ICQ
I'm out of the Sep 530 puts (OEWUF) at 24
Those suckers hit it for the second time today and I sold!
I had my sell point set at $22 for a long time and I changed it again when the market started dropping after 2:00.
I'm a FLAT toad!
Toad Update 8/27/98 #3 12:59 EMAIL and ICQ
I'm watching this sucker and not too sure if we will dump more.
If the OEX passes through 520.50, I will probably try to sell the puts.
If it doesn't go up through 520.50, I'll hold for awhile longer.
Hope I didn't miss the opportunity when I didn't sell the Sep 530 puts at $24....
Toad Update 8/27/98 #2 11:54 EMAIL and ICQ
I'm still holding the 10 contracts of the Sep 530 puts (OEWUF) that we purchased at 16 earlier today.
They are going for $24 right now, I'm still going along for the ride.
I also hopped into 5 contracts of the Sep 525 puts earlier today at 14 and put an 18 sell on them and forgot them as I was watching the market - they sold already at 11:35. Sort of forgot about them.
I'll let you know when we hop out of the 530 puts.
Toad Update 8/27/98 #1 10:15 EMAIL and ICQ
I just hopped into 10 contracts of the Sep 535 Puts (OEWUF) at 16.
Putting $1 on it, I think - watching it now.
Good morning, we are watching the pond, getting ready to hop in. Stay tuned...
Good job! Y'all did a lot better job watching the market today. I wimped out and only bought 5 contracts so our last position only made $442. - Hey, we didn't lose - I can always live with that.
That's it for tonight, be here in the morning
and let's do this again.
Toad Update 8/26/98 #6 17:31 EMAIL and ICQ
OK, thanks for watching the market while I was out.
I sold the Sep 530 Puts (OEWUF) at my 11 1/2 sell
point. Had I been here... well they did go higher, but I probably would
have sold at 11 1/2 anyway. Only $442 profit because I was a chicken and
only bought 5 contracts. (Cheep.)
Hey, the Toad wasn't real sure where this sucker was going today - but it sure looked like it was going to go lower.
You did a good job today and earned your Friday bagels back, I'll buy the bagels.
I had to go to Physical Therapy (still related
to the 6/5/98 auto accident) and you did a lot better job today than you
So, I'm updating the site and we will be here in the morning - see you then.
Toad Update 8/26/98 #5 13:34 EMAIL and ICQ
OK, this is a second chance for you people.
I have to go meet with a PT - so please watch the market.
I have a sell point of 11 1/2 in for the puts.
See you later,
Toad Update 8/26/98 #4 12:43 EMAIL and ICQ
I still think this is a down market.
I just hopped into 5 contracts (chicken) of the Sep 530 Puts (OEWUG) at 10 1/2.
I'll let you know what we do next.
Toad Update 8/26/98 #3 12:18 EMAIL and ICQ
I just lined up on a perfect Call to buy and then it blew by my price - SO, maybe we didn't want that call....
Missed opportunity - SCW, but I didn't
I'll let you know when we hop.
Toad Update 8/26/98 #2 10:25 EMAIL and ICQ
OK, I screwed up. I had the 15 1/2 sell order in for two days and couldn't get to it fast enough to change it.
That's why they sold so quickly.
They just hit $16 and will probably go higher.
Do I want to hop into these suckers again? Maybe the 530 puts?
I'll let you know when we hop again.
Toad Update 8/26/98 #1 9:57 EMAIL and ICQ
Y'all didn't help me at all when I was away from the market yesterday, so I guess I had to do it myself!
Just got notice that the Sept. 535 puts (OEWUG) sold at 15 1/2.
Last night I really thought we were going to lose on those suckers.
We are FLAT and looking.
I'm here, watching the market. I'll keep you posted.
WHAT? One day, one day I ask you to watch the market and my position DUMPS! Sure the market went up - but it was the wrong direction for my put.
No bagels for you on Friday!
What are we gonna do in the morning? I'll be here
- see you in the am.
Looked like the 3:00 crowd was going to take the bottom out of the market, so I hopped in as it was dropping right after 3:00. Then the buyers came in and the market went up 2 1/2 OEX points. The Tick was -600 when I was jumping in and it finished the day at +172.
After Mrs. Toad reminded me that we would be away from the market most or all of Tuesday, I looked at dumping them and walking away with $100 profit for the day.
Nah, I'm going to count on the Toadsters to watch this position tomorrow and make some money for us.
So, It's up to you people to make this right -
Thanks in advance for your support - if this
works out, I'll buy the bagels on Friday! See ya.
Toad Update 8/24/98 #6 16:24 EMAIL and ICQ
Mrs. Toad just reminded me that we will be out all day on Tuesday, so I shouldn't have stayed open today. Oops.
I'm putting a 15 1/4 sell point on the open Sep 535 Puts (OEWUG) and hope that they don't TANK.
I'm counting on you all to watch the market for
me tomorrow. Slight possibility that we might be back in the afternoon
- I'll let you know if we get back.
Toad Update 8/24/98 #5 15:21 EMAIL and ICQ
I just did it again! I'm back into 10 contracts of the Sept. 535 puts (OEWUG) at 14 1/4.
Just setting the sell point now, how about another buck?
Toad Update 8/24/98 #5 14:52 EMAIL and ICQ
Chickened out of buying a call - I was placing an order for the Sept. 540 calls (OEWIH) and then didn't.
Not sure what's going to happen because the Tick is NEGATIVE again.
Let's keep watching.
Toad Update 8/24/98 #3 13:53 EMAIL and ICQ
I just hopped out of the Sept. 535 puts at 15 1/2.
Toad Update 8/24/98 #2 13:12 EMAIL and ICQ
I just hopped into 10 contracts of the Sept. 535 puts (OEWUG) at 14 1/2.
Looking to pick up 1 or 1/2 - will let you know.
Toad Update 8/24/98 #1 11:22 EMAIL and ICQ
Wow, I almost bought two different positions today and before I sent the order, the market turned...
Could have eventually made money on one and the other would still be questionable.
Just watching some more - is it up or down?
We are sitting here watching the pond, stay tuned...
Quote for today:
Note: I never mentioned the president this time.
There was money to be made today, BUT if the market
goes against you, you have no time to recover.
Several of you have asked why I don't start trading the next months options during expiration week - just never have. I always look at the premium and stop there.
So, I was here all day (honest) and we didn't go over 100K yet - how about NEXT WEEK?
That's it for now, for those of you around Kansas City - our JACKSONVILLE JAGUARS will be in town Saturday night!
Not saying anything else about the President Just not going to say a thing.
Well, we are up $9,917 this month and $3,475
this week. Have a great weekend, see you Monday.
The Aug. 535 puts opened at 3 1/2 and are now
at 10 1/4. Don't think I would have purchased them this am. Also, the Sept.
options are still $16 more expensive than the old ones. We won't be able
to complain next week.
All of the worldwide markets are down - except for the ruble - they got hit earlier this week.
Drew Robertson at ABS Live says the "Flight to Safety is Full."
Interesting day - we usually have a lot of volatility
on OPTIONS EXPIRATION FRIDAY - but this is ridiculous. Stay tuned...
For those of you thinking about subscribing to the Toad Email/ICQ updates, read the Toad Guarantee.
Current Reports and Trades
Toad 101 & FAQ's
Training by the Toad
| Email / ICQ Signup | Toad Guarantee | Toad at work | Links | Comments? |