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re: BOIL has become predictable

Posted on 9/22/14 at 1:23 pm to
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 9/22/14 at 1:23 pm to
Not everyone has weighed in yet, but it's starting to look like more downward pressure again this week:

LINK
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 9/22/14 at 3:28 pm to
I bought Ung 9/26/2014 weekly $20.50 puts in anticipation of the report on Thursday.

This time I'm going to wait a little bit longer to sell Thursday morning than I did last week.

I think I cost Ole Skule and myself some additional profit last week. I got a little bit too antsy and pulled the trigger too soon. A really foolish mistake. I realize double was god, but when it went up almost 6 times and I missed it, that is really unforgivable. Amateur mistake on my part. I could have, and should have waited. My apologies.
This post was edited on 9/22/14 at 3:29 pm
Posted by Ole War Skule
North Shore
Member since Sep 2003
3409 posts
Posted on 9/23/14 at 5:56 am to
quote:

I got a little bit too antsy and pulled the trigger too soon.


I was happy to double and am not going to think about what could have been. I"m looking at what I want to do this week, if anything. I'm still long UGAZ, so don't know if I want to also buy a put....will advise soon



ETA: how do you decide between the 20.5 and 21 strikes?
This post was edited on 9/23/14 at 6:20 am
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 9/23/14 at 6:27 am to
No logic at all other than it's a short term trade and the option expires Friday, so I based my decision purely on lower price and less movement required by the ETF.

Estimates are between 91-95 now.
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 9/23/14 at 8:10 am to
Setting up for a perfect 3-4 short position if the injection estimates come through on Thursday.
Posted by Ole War Skule
North Shore
Member since Sep 2003
3409 posts
Posted on 9/23/14 at 8:50 am to
I'm considering the 21 instead of 20.5 due to higher volume/narrower spreads, but significantly more expensive. Your opinion? What are the tradeoffs?
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 9/23/14 at 8:59 am to
21's would be fine.
Posted by rintintin
Life is Life
Member since Nov 2008
16153 posts
Posted on 9/23/14 at 9:04 am to
quote:

 if the injection estimates come through on Thursday. 


What are the estimates you're looking at? Hoping for another +90 bcf
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 9/23/14 at 9:06 am to
91-94
Posted by Ole War Skule
North Shore
Member since Sep 2003
3409 posts
Posted on 9/23/14 at 9:33 am to
watching the so-called real time bids and offers change is pretty instructive about how little I understand this market. I'm trying to buy the 9/26 21 put with a measly 100 contract order and every time I change my limit, all sorts of changes take place on the bid side. Everyone is at .20, ask is .23 and I think I'll up my limit to .21. I see my bid come up on the screen, but somehow, it's now behind from 5-10 other bids...huh? I pull my limit back down to .20 and all the other .21 bids disappear.

I'm using Fidelity Active Trader Pro FWIW

you'd be paranoid too if everyone was out to get you

ETA: guess I should have taken the .23 when I could..ask is up to .37
This post was edited on 9/23/14 at 11:18 am
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 9/23/14 at 11:24 am to
Level 1 would only show current best bid and ask.

Anyway, I bought $20.50's. Rather I'm still buying them. Partial fills all day long so far.
Posted by Ole War Skule
North Shore
Member since Sep 2003
3409 posts
Posted on 9/23/14 at 12:32 pm to
quote:

Level 1 would only show current best bid and ask.



it's level 2, I see lists of bid and ask with contracts/shares, price and exchange
Posted by williejameshuft
New Orleans
Member since Jul 2012
158 posts
Posted on 9/23/14 at 12:59 pm to
Go read Flash Boys and you'll get it
Posted by rintintin
Life is Life
Member since Nov 2008
16153 posts
Posted on 9/24/14 at 9:58 am to
Is anyone jumping out today in anticipation of the injection report tomorrow? Currently in Ugaz and was hoping to repeat the last 2 weeks of selling around 15 then jumping back in after the report, but we didn't see a run up this week. Thinking about getting out even and buying back after the report.

Thoughts?
Posted by Ole War Skule
North Shore
Member since Sep 2003
3409 posts
Posted on 9/24/14 at 10:18 am to
quote:

Is anyone jumping out today


Golfer and Force are the ones you want to hear from.

I'm already long UGAZ, but would buy now if I weren't. Looks to me like the worst case is already priced in, so I'd expect the price to rise, or at worst stay at these levels after the news...but as I said, I'd listen to Golfer or Force, not me
Posted by L S Usetheforce
Member since Jun 2004
22742 posts
Posted on 9/24/14 at 10:19 am to
Terrible idea.... Just sit tight...even if ugaz went down to 12.99 it will be transient....
Posted by L S Usetheforce
Member since Jun 2004
22742 posts
Posted on 9/24/14 at 10:28 am to
Terrible idea.... Just sit tight...even if ugaz went down to 12.99 it will be transient....
Posted by rintintin
Life is Life
Member since Nov 2008
16153 posts
Posted on 9/24/14 at 10:41 am to
Terrible enough for 2 posts I'll probably sit tight then.
Posted by L S Usetheforce
Member since Jun 2004
22742 posts
Posted on 9/24/14 at 10:46 am to
Phone problems..........
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 9/24/14 at 12:44 pm to
I'd short the crap out of natty gas for a one day trade. In fact that's what I'm doing right now.
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