Welcome Stockaholics!

We are a new and fast growing financial forum! Sign up for free and let's talk stocks!

  1. Do you want to help develop this community? We are looking for contributions from investors and traders like you! What stocks do you follow? What is hot right now? Sign up and get in on the ground floor of the newest, fastest growing financial forum!
    Dismiss Notice
  2. You will notice a live chat widget on the right. Click in to join us and lets hear about how you nailed that last UWTI trade!
    Dismiss Notice

AverageJoe's Options Journal

Discussion in 'Trade Journals' started by AverageJoesTrades, Apr 18, 2019.

  1. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    Seeing some confluence between XOP and energy right now - lets see if they can follow through today/tomorrow.
     
  2. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    Thanks to @hitman for the check this morning - need to take a close look at the aggressive filter to make sure I'm not going to inverse of the trend.
     
  3. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    Alright - I've got a new horse in the race. At the close I opened up a position of 217 XLB $57.5 5/3 CALLS @ .20. This is again only half of a position since XLE and XOP are looking like a pullback in a longer term uptrend. Chart for reference: (It will be a positive confirmation if I get get an additional buy signal tomorrow where the other blue line is from back at the end of March)
    XLB.png
     
    T0rm3nted likes this.
  4. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    Ugh - I may want to wait to buy until the open of the next day. These XLB calls opened about even and dropped in the 1st hour to around .15 then climbed throughout the day. They're sitting at .33 right now with a high around .36. XLB had a strong day today and hopefully can follow through tomorrow.

    XLE/XOP are still in the stable - not a very strong day for them today. Hopefully they do not pull back any further or they will drop off of my radar if the longer trend cannot stay intact.
     
    T0rm3nted likes this.
  5. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    XLB with confirmation signal today. Hopefully it can keep up the momentum! Sell orders are placed @ .40
    XLB.png
     
  6. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    stop loss at breakeven .20
     
  7. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    Out of the 217 calls @ .21 - gain of $217 on this one.

    Account is sitting at $8,918.71

    Still watching XLE and XOP - but they are looking rough this morning. Might interrupt the long term trend.
     
    T0rm3nted likes this.
  8. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    XLE/XOP are still maintaining their long term trend, but probably won't see anything resolve until later this week or early next week.

    I picked up 31 XBI $84.5 PUTS @ 1.40 just now based on the below chart. Analysis is on the 3x ETF LABU, but shows that it could be a good short opportunity - thus the XBI PUTS.
    LABU.png
     
    T0rm3nted likes this.
  9. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    I closed out the XBI Puts at breakeven 1.40. Might look at these later today/this week.
     
  10. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    XLE long term trend looks to be broken - so I will remove XLE from my stable unless things turn around. XOP is just barely in play - hopefully this stays in play as the bearish ETF is looking very overbought.

    Just sitting on the sidelines for now. I will post any plays by the end of the day.
     
  11. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    No plays for tonight - If I was aggressive UGLD signaled a short, but looks to be at support. Not taking a position at the moment.
     
  12. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    Glad I did not pull the trigger on the GLD short - Still refining the aggressive filter. Just need to remind myself that I don't always need to be in a trade... Patience is key

    But I will keep an eye on GLD since it is still in a longer term downtrend. Pops - if short lived will be sold.
     
    T0rm3nted likes this.
  13. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    No plays again today. waiting for the right setup. hope everyone has a good relaxing weekend!
     
  14. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    My big watches early next week are the following:
    DGAZ Long (GAZ PUTS)
    LABU Long (XBI CALLS)
    UGLD Long (GLD CALLS)

    Somewhat of a long shot:
    EDC Long (EEM and or EFA CALLS)

    Also still watching DRIP if it starts to head south.
     
  15. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    Not sure what I was thinking, but GAZ doesn't have the volume to trade and UGAZ/DGAZ don't have options. UNG would be the target.

    Early morning look:
    XBI CALLS - Off the table
    UGLD CALLS - Off the table
    EEM/EFA CALLS - Off the table

    UNG PUTS - Still in play depending on price action

    will check back later - closer to close.
     
  16. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    Oil heading into oversold territory - will be something to watch after tariff man's comments last week.

    Mid-day look:
    UGLD CALLS - Still off the table
    EEM/EFA CALLS - Still off the table

    Looking positive:
    XBI CALLS - Moving back to the table (needs a very strong finish on the day to trigger)
    UNG PUTS - Still in play
     
    T0rm3nted likes this.
  17. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    UNG/XBI did not make it today.

    I did buy 200 XLB 5/10 $56.5 CALLS for .22 right at the close
    I also bought 200 XOP 5/10 $30.50 CALLS for .22 right at the close

    EDIT: XOP did not actually get filled in time.
     
    #37 AverageJoesTrades, May 6, 2019
    Last edited: May 7, 2019
  18. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    Lucked out a little in that my XOP CALLS did not actually get filled at the close.

    Bailed on XLB this morning between .11 and .09 - took about a 30% loss. Account is now at $6,486.22.

    Waiting for some new plays to get the account back up!
     
  19. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    Took a position this morning in 22 XLE $64 6/14 CALLS @ 1.81. Longer position on this one from my weeklies, but the volatility in the market is too high right now for weeklies.
     
  20. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,044
    Likes Received:
    545
    probably going to take another L on the XLE CALLS. I'm trying to force too many trades. I will be going back to my mainstays and being more patient. Not giving up. This is all the house's money at this point.
     
    anotherdevilsadvocate likes this.

Share This Page