Monthly Archives: February 2014

Be Tough and No Fatalism

Be tough and flexible; keep your mind at ease, ready and cautious and, when necessary, busy as bats in the sky. No Fatalism

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Endgame Investing

The Wall Street Journal announces that Japan will start up its nuclear power plants: Japan’s turnabout on atomic energy has as much to do with finances as anything else. Japanese utilities have been making up the shortfall caused by the … Continue reading

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Tales of Two Spreads

The SPX spread looks worse from yesterday in terms of the expiration graph, but I think it is alright at this point. Because the butterfly was expensive to hold without confirmed price action to the 1860 strike, I closed it … Continue reading

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Problem Child?

Not really. I know what to do. If the price goes to 1840 and 20 Delta tomorrow, I’ll add a number of calendars at 1825– a likely spot for a showdown (speculation).  A move to 1812 means someones (or somewho’s) … Continue reading

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A Spread in the Life

The spread has been constructed in three parts. First, a calendar spread was opened at the 535 strike when Apple was trading at 531. This set the trade Delta long and Vega long. With the Apple volatility so low post … Continue reading

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Aphorisms

Ode to the beauty of a calendar trade. The spread is set a little long delta. The trend is not your friend. Downward adjust. Add a calendar spread below. When price resumes its rise up (for this is yet a … Continue reading

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Quietly and Without Denial

“Preparations to remove Unit Three’s fuel cannot exist.”  Arnie Gundersen

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