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I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.

 
HL Shancken
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08/18/2013 07:33 PM
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I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
First I want to say that I am an experienced options buyer. I have no interest in selling puts or calls, naked or covered. I have no interest in complex trades. I buy and sell calls and puts, and that's it. I place directional bets and let the chips fall where they may. Being eternally pessimistic about the future of the economy now that the Communists have more or less officially taken over, I am and have been for a long time only inclined to short this market. It took me until 2010 to finally run out of money shorting this market and I have not made a trade since. Now I have raised a very small stake and I intend to short it again. Before you admonish me to be careful or try to explain how rigged the market is, let me just say that buying puts or calls is inherently very dangerous to the wallet, but it is a way to put your money where your mouth is, and sometimes that pays off in a big way. The markets, I know, are to a great degree rigged. It is true that our current state of affairs could go on indefinitely, as Nyquist warned in one of his recent columns, but there are also reasons to believe that it will not, and in fact it could be that a collapse is imminent, as so many GLP and Zerohedge headlines proclaim (and have throughout this multiyear great bull run).

This will be the first time trading options and stocks that I won't be in front of a computer during market hours. This could be for the best, for it will force me into longer-dated strikes.

Suggestions more or less wanted.
If you want to know what I'm up to, this is it:

[link to www.dropbox.com (secure)]

It's what I needed. It's what you need. It's what GLP needs. It's what the world needs.
G. House

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08/18/2013 07:37 PM

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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
Please tell us in simple terms where the money comes from that gives people that buy puts huge amounts of money if a stock/commodity goes down?
"Everybody lies."
HL Shancken (OP)

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08/18/2013 07:38 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
Please tell us in simple terms where the money comes from that gives people that buy puts huge amounts of money if a stock/commodity goes down?
 Quoting: G. House



From Obama!
If you want to know what I'm up to, this is it:

[link to www.dropbox.com (secure)]

It's what I needed. It's what you need. It's what GLP needs. It's what the world needs.
Anonymous Coward
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08/18/2013 07:39 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
I have a total of $2k calls on the following:

DRV exp 9/2013
FAZ exp 1/2014
NUGT exp 3/2014
UCO exp 1/2015
Anonymous Coward
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08/18/2013 07:40 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
Well that was a simple debunk house

Short and sweet
woowoo80

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08/18/2013 07:42 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
In other words, you win, humanity loses.
HL Shancken (OP)

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08/18/2013 07:44 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
I have a total of $2k calls on the following:

DRV exp 9/2013
FAZ exp 1/2014
NUGT exp 3/2014
UCO exp 1/2015
 Quoting: Anonymous Coward 1409758



I wouldn't touch FAZ with a ten-foot pole, I won't play oil, NUGT is not how I would play gold, and DRV is another I won't touch because it's 3x.
If you want to know what I'm up to, this is it:

[link to www.dropbox.com (secure)]

It's what I needed. It's what you need. It's what GLP needs. It's what the world needs.
G. House

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08/18/2013 07:44 PM

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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
Please tell us in simple terms where the money comes from that gives people that buy puts huge amounts of money if a stock/commodity goes down?
 Quoting: G. House



From Obama!
 Quoting: HL Shancken


No, seriously...

I've never seen it explained.

You wager that a stock will go up, I can see where money would come from to pay that out.

But you wager a stock will go down? Where does the money actually come from to pay the person?
"Everybody lies."
HL Shancken (OP)

User ID: 43079490
United States
08/18/2013 07:49 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
Please tell us in simple terms where the money comes from that gives people that buy puts huge amounts of money if a stock/commodity goes down?
 Quoting: G. House



From Obama!
 Quoting: HL Shancken


No, seriously...

I've never seen it explained.

You wager that a stock will go up, I can see where money would come from to pay that out.

But you wager a stock will go down? Where does the money actually come from to pay the person?
 Quoting: G. House


I attempted to explain what a put option is, and I don't know why I bothered, as I did not do a very good job, and besides, there is a perfectly good and clear definition at Investopedia.com, which I have copied and pasted below.


Definition of 'Put Option'
An option contract giving the owner the right, but not the obligation, to sell a specified amount of an underlying security at a specified price within a specified time. This is the opposite of a call option, which gives the holder the right to buy shares.

Investopedia Says
Investopedia explains 'Put Option'
A put becomes more valuable as the price of the underlying stock depreciates relative to the strike price. For example, if you have one Mar 08 Taser 10 put, you have the right to sell 100 shares of Taser at $10 until March 2008 (usually the third Friday of the month). If shares of Taser fall to $5 and you exercise the option, you can purchase 100 shares of Taser for $5 in the market and sell the shares to the option's writer for $10 each, which means you make $500 (100 x ($10-$5)) on the put option. Note that the maximum amount of potential proft in this example ignores the premium paid to obtain the put option.

[link to www.investopedia.com]

Last Edited by HL Shancken on 08/20/2013 08:35 PM
If you want to know what I'm up to, this is it:

[link to www.dropbox.com (secure)]

It's what I needed. It's what you need. It's what GLP needs. It's what the world needs.
HL Shancken (OP)

User ID: 43079490
United States
08/20/2013 08:37 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
My account is funded and as of tomorrow I will be in the market for index and issue puts, as well as calls on inverse products such as SDS.


Anyone who is playing the market short is welcome to chime in with ideas.
If you want to know what I'm up to, this is it:

[link to www.dropbox.com (secure)]

It's what I needed. It's what you need. It's what GLP needs. It's what the world needs.
Anonymous Coward
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08/20/2013 08:42 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
wow 3 grand. what are you having for dinner next tuesday?
Anonymous Coward
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08/20/2013 08:44 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
Please tell us in simple terms where the money comes from that gives people that buy puts huge amounts of money if a stock/commodity goes down?
 Quoting: G. House



From Obama!
 Quoting: HL Shancken


No, seriously...

I've never seen it explained.

You wager that a stock will go up, I can see where money would come from to pay that out.

But you wager a stock will go down? Where does the money actually come from to pay the person?
 Quoting: G. House


Options are contracts. Contracts involve two or more parties. Where does the money come from if "you wager that a stock will go up"? You should explain that. Then, if your explanation of that is correct, it will be trivial to explain "where the money comes from if a stock goes down".
HL Shancken (OP)

User ID: 43079490
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08/20/2013 08:48 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
Please tell us in simple terms where the money comes from that gives people that buy puts huge amounts of money if a stock/commodity goes down?
 Quoting: G. House



From Obama!
 Quoting: HL Shancken


No, seriously...

I've never seen it explained.

You wager that a stock will go up, I can see where money would come from to pay that out.

But you wager a stock will go down? Where does the money actually come from to pay the person?
 Quoting: G. House


Options are contracts. Contracts involve two or more parties. Where does the money come from if "you wager that a stock will go up"? You should explain that. Then, if your explanation of that is correct, it will be trivial to explain "where the money comes from if a stock goes down".
 Quoting: Anonymous Coward 45453372



I'm not really interested in explaining the nuts and bolts of options contracts. The money I'm interested in will come from the buyer of the put I sell. I'm not going to exercise any contracts. This isn't a class on options investing. It's simply a thread to see what other people who play options recommend to a buyer seeking to short. That's all. I know very well how options are created and sold and bought and resold and all that. If someone else wants to know those things you can feel free to explain, but I can't be bothered.
If you want to know what I'm up to, this is it:

[link to www.dropbox.com (secure)]

It's what I needed. It's what you need. It's what GLP needs. It's what the world needs.
Anonymous Coward
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Australia
08/20/2013 08:50 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
...



From Obama!
 Quoting: HL Shancken


No, seriously...

I've never seen it explained.

You wager that a stock will go up, I can see where money would come from to pay that out.

But you wager a stock will go down? Where does the money actually come from to pay the person?
 Quoting: G. House


Options are contracts. Contracts involve two or more parties. Where does the money come from if "you wager that a stock will go up"? You should explain that. Then, if your explanation of that is correct, it will be trivial to explain "where the money comes from if a stock goes down".
 Quoting: Anonymous Coward 45453372



I'm not really interested in explaining the nuts and bolts of options contracts. The money I'm interested in will come from the buyer of the put I sell. I'm not going to exercise any contracts. This isn't a class on options investing. It's simply a thread to see what other people who play options recommend to a buyer seeking to short. That's all. I know very well how options are created and sold and bought and resold and all that. If someone else wants to know those things you can feel free to explain, but I can't be bothered.
 Quoting: HL Shancken


I'm not saying you should explain it, I'm saying HOUSE should explain the bit he thinks he understands. Then it will be clear if he understands or not, and explaining the other bit will be simple.
HL Shancken (OP)

User ID: 43079490
United States
08/20/2013 08:51 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
...


No, seriously...

I've never seen it explained.

You wager that a stock will go up, I can see where money would come from to pay that out.

But you wager a stock will go down? Where does the money actually come from to pay the person?
 Quoting: G. House


Options are contracts. Contracts involve two or more parties. Where does the money come from if "you wager that a stock will go up"? You should explain that. Then, if your explanation of that is correct, it will be trivial to explain "where the money comes from if a stock goes down".
 Quoting: Anonymous Coward 45453372



I'm not really interested in explaining the nuts and bolts of options contracts. The money I'm interested in will come from the buyer of the put I sell. I'm not going to exercise any contracts. This isn't a class on options investing. It's simply a thread to see what other people who play options recommend to a buyer seeking to short. That's all. I know very well how options are created and sold and bought and resold and all that. If someone else wants to know those things you can feel free to explain, but I can't be bothered.
 Quoting: HL Shancken


I'm not saying you should explain it, I'm saying HOUSE should explain the bit he thinks he understands. Then it will be clear if he understands or not, and explaining the other bit will be simple.
 Quoting: Anonymous Coward 45453372




Very well then. The dingo stole my baby.
If you want to know what I'm up to, this is it:

[link to www.dropbox.com (secure)]

It's what I needed. It's what you need. It's what GLP needs. It's what the world needs.
Anonymous Coward
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Australia
08/20/2013 08:54 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
Very well then. The dingo stole my baby.
 Quoting: HL Shancken


drama
Useless Cookie Eater

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08/20/2013 08:56 PM

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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
First I want to say that I am an experienced options buyer. I have no interest in selling puts or calls, naked or covered. I have no interest in complex trades. I buy and sell calls and puts, and that's it. I place directional bets and let the chips fall where they may. Being eternally pessimistic about the future of the economy now that the Communists have more or less officially taken over, I am and have been for a long time only inclined to short this market. It took me until 2010 to finally run out of money shorting this market and I have not made a trade since. Now I have raised a very small stake and I intend to short it again. Before you admonish me to be careful or try to explain how rigged the market is, let me just say that buying puts or calls is inherently very dangerous to the wallet, but it is a way to put your money where your mouth is, and sometimes that pays off in a big way. The markets, I know, are to a great degree rigged. It is true that our current state of affairs could go on indefinitely, as Nyquist warned in one of his recent columns, but there are also reasons to believe that it will not, and in fact it could be that a collapse is imminent, as so many GLP and Zerohedge headlines proclaim (and have throughout this multiyear great bull run).

This will be the first time trading options and stocks that I won't be in front of a computer during market hours. This could be for the best, for it will force me into longer-dated strikes.

Suggestions more or less wanted.
 Quoting: HL Shancken


You need to learn how to do "protective puts" and cover your ass if you are going to do options with the strategy you are attempting.
Risk management is KEY in trading successfully.

You cannot be a simpleton in your approach when using options.

Protective PUT.
[link to www.theoptionsguide.com]

Last Edited by Useless Cookie Eater on 08/20/2013 08:56 PM
HL Shancken (OP)

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08/20/2013 09:00 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
First I want to say that I am an experienced options buyer. I have no interest in selling puts or calls, naked or covered. I have no interest in complex trades. I buy and sell calls and puts, and that's it. I place directional bets and let the chips fall where they may. Being eternally pessimistic about the future of the economy now that the Communists have more or less officially taken over, I am and have been for a long time only inclined to short this market. It took me until 2010 to finally run out of money shorting this market and I have not made a trade since. Now I have raised a very small stake and I intend to short it again. Before you admonish me to be careful or try to explain how rigged the market is, let me just say that buying puts or calls is inherently very dangerous to the wallet, but it is a way to put your money where your mouth is, and sometimes that pays off in a big way. The markets, I know, are to a great degree rigged. It is true that our current state of affairs could go on indefinitely, as Nyquist warned in one of his recent columns, but there are also reasons to believe that it will not, and in fact it could be that a collapse is imminent, as so many GLP and Zerohedge headlines proclaim (and have throughout this multiyear great bull run).

This will be the first time trading options and stocks that I won't be in front of a computer during market hours. This could be for the best, for it will force me into longer-dated strikes.

Suggestions more or less wanted.
 Quoting: HL Shancken


You need to learn how to do "protective puts" and cover your ass if you are going to do options with the strategy you are attempting.
Risk management is KEY in trading successfully.

You cannot be a simpleton in your approach when using options.

Protective PUT.
[link to www.theoptionsguide.com]
 Quoting: Useless Cookie Eater




Nope. I already explained that I'm only interested in placing a directional bet. I have no interest in hedging. I'm willing to lose 3k if I'm wrong. If I'm right in thinking that over the course of the next several months the market is going to tank, I will, if I purchase the right contracts, make a very good and possibly enormous profit. It's that simple.
If you want to know what I'm up to, this is it:

[link to www.dropbox.com (secure)]

It's what I needed. It's what you need. It's what GLP needs. It's what the world needs.
Enga

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08/20/2013 09:44 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
cme s&p dec 850 puts
taper is coming!!!!!!
Useless Cookie Eater

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08/20/2013 09:46 PM

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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
First I want to say that I am an experienced options buyer. I have no interest in selling puts or calls, naked or covered. I have no interest in complex trades. I buy and sell calls and puts, and that's it. I place directional bets and let the chips fall where they may. Being eternally pessimistic about the future of the economy now that the Communists have more or less officially taken over, I am and have been for a long time only inclined to short this market. It took me until 2010 to finally run out of money shorting this market and I have not made a trade since. Now I have raised a very small stake and I intend to short it again. Before you admonish me to be careful or try to explain how rigged the market is, let me just say that buying puts or calls is inherently very dangerous to the wallet, but it is a way to put your money where your mouth is, and sometimes that pays off in a big way. The markets, I know, are to a great degree rigged. It is true that our current state of affairs could go on indefinitely, as Nyquist warned in one of his recent columns, but there are also reasons to believe that it will not, and in fact it could be that a collapse is imminent, as so many GLP and Zerohedge headlines proclaim (and have throughout this multiyear great bull run).

This will be the first time trading options and stocks that I won't be in front of a computer during market hours. This could be for the best, for it will force me into longer-dated strikes.

Suggestions more or less wanted.
 Quoting: HL Shancken


You need to learn how to do "protective puts" and cover your ass if you are going to do options with the strategy you are attempting.
Risk management is KEY in trading successfully.

You cannot be a simpleton in your approach when using options.

Protective PUT.
[link to www.theoptionsguide.com]
 Quoting: Useless Cookie Eater




Nope. I already explained that I'm only interested in placing a directional bet. I have no interest in hedging. I'm willing to lose 3k if I'm wrong. If I'm right in thinking that over the course of the next several months the market is going to tank, I will, if I purchase the right contracts, make a very good and possibly enormous profit. It's that simple.
 Quoting: HL Shancken


You need to learn the difference between RISK MANAGEMENT vs. HEDGING.

They reason you lost all your $$$ was because of your poor RISK MANAGEMENT skills.

Sorry...but that's the reality.
1dunno1

Last Edited by Useless Cookie Eater on 08/20/2013 09:49 PM
HL Shancken (OP)

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08/20/2013 09:56 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
cme s&p dec 850 puts
taper is coming!!!!!!
 Quoting: Enga


Unless I'm wrong, you're suggesting options on futures, which I don't trade.


Also, unless I'm wrong, that 850 strike is nearly a 50% haircut for the sp500 by December. While that would be ideal for virtually any market bear, it is indeed a lottery ticket. While I'll no doubt buy out-of-the-money puts, I'm more interested in somewhat more realistic strikes. Please do feel free to correct me, and to give a ticker symbol for the contract yo0u have recommended.
If you want to know what I'm up to, this is it:

[link to www.dropbox.com (secure)]

It's what I needed. It's what you need. It's what GLP needs. It's what the world needs.
Anonymous Coward
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08/20/2013 09:58 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
you're a fucking COMMIE!!!
HL Shancken (OP)

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08/20/2013 10:01 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
First I want to say that I am an experienced options buyer. I have no interest in selling puts or calls, naked or covered. I have no interest in complex trades. I buy and sell calls and puts, and that's it. I place directional bets and let the chips fall where they may. Being eternally pessimistic about the future of the economy now that the Communists have more or less officially taken over, I am and have been for a long time only inclined to short this market. It took me until 2010 to finally run out of money shorting this market and I have not made a trade since. Now I have raised a very small stake and I intend to short it again. Before you admonish me to be careful or try to explain how rigged the market is, let me just say that buying puts or calls is inherently very dangerous to the wallet, but it is a way to put your money where your mouth is, and sometimes that pays off in a big way. The markets, I know, are to a great degree rigged. It is true that our current state of affairs could go on indefinitely, as Nyquist warned in one of his recent columns, but there are also reasons to believe that it will not, and in fact it could be that a collapse is imminent, as so many GLP and Zerohedge headlines proclaim (and have throughout this multiyear great bull run).

This will be the first time trading options and stocks that I won't be in front of a computer during market hours. This could be for the best, for it will force me into longer-dated strikes.

Suggestions more or less wanted.
 Quoting: HL Shancken


You need to learn how to do "protective puts" and cover your ass if you are going to do options with the strategy you are attempting.
Risk management is KEY in trading successfully.

You cannot be a simpleton in your approach when using options.

Protective PUT.
[link to www.theoptionsguide.com]
 Quoting: Useless Cookie Eater




Nope. I already explained that I'm only interested in placing a directional bet. I have no interest in hedging. I'm willing to lose 3k if I'm wrong. If I'm right in thinking that over the course of the next several months the market is going to tank, I will, if I purchase the right contracts, make a very good and possibly enormous profit. It's that simple.
 Quoting: HL Shancken


You need to learn the difference between RISK MANAGEMENT vs. HEDGING.

They reason you lost all your $$$ was because of your poor RISK MANAGEMENT skills.

Sorry...but that's the reality.
1dunno1
 Quoting: Useless Cookie Eater




Actually, the reason I lost money in my most recent foray into the options market is because I shorted a rising market.

I'm not an investor, nor do I seek investment advice. I don't need a tutorial on risk management because I intend to risk the sum of $3,000 on bets that the market declines significantly in the coming months. I don't even have to have a reason for believing that this will occur; the important fact, the only important fact, is that I intend to short the market come hell or high water. That said, I am looking around to see what other people are doing along the same lines, so that I may be better able to pick good strikes, dates, etc.

Do you have any short recommendations, or not?
If you want to know what I'm up to, this is it:

[link to www.dropbox.com (secure)]

It's what I needed. It's what you need. It's what GLP needs. It's what the world needs.
HL Shancken (OP)

User ID: 43079490
United States
08/20/2013 10:02 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
you're a fucking COMMIE!!!
 Quoting: Anonymous Coward 45379679




It would be much better for me if I were, comrade.
If you want to know what I'm up to, this is it:

[link to www.dropbox.com (secure)]

It's what I needed. It's what you need. It's what GLP needs. It's what the world needs.
HL Shancken (OP)

User ID: 43079490
United States
08/20/2013 10:09 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
Bueller?
If you want to know what I'm up to, this is it:

[link to www.dropbox.com (secure)]

It's what I needed. It's what you need. It's what GLP needs. It's what the world needs.
senobwas

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08/20/2013 10:12 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
Hedged strategies are a little more complex but keep the bankroll intact. Careful for the release of the Fed minutes tomorrow. China and Japan are dumping US bonds and rates are sneaking up in spite of Fed printing funny money. Jig is almost up. Be that as it may I have hedged bets on TLT, SPX and DJX.
Anonymous Coward
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08/20/2013 10:13 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
I would be selling spy calls. I do a lot of options trading. Sell calls on USO.
Anonymous Coward
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08/20/2013 10:16 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
wish you luck - you have more balls than I - the market seems to be rigged - when a clown like cramer can create markets with a tv show - you have to question the validity of the whole
Useless Cookie Eater

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08/20/2013 10:17 PM

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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
Bueller?
 Quoting: HL Shancken


The silence is because you are being foolish.
senobwas

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08/20/2013 10:18 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
If SPX has a counterrally to 20 dma I would short the hell out of it.
Anonymous Coward
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08/20/2013 10:24 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
If u are doing the indexes---spx --etc----dont do anyThing in closer then NOV--or pay a little more-go down a few strike prices to Dec.

Ive seen your name on here for years--if you are report your gains on option profits(many do not)then even some in January
as that pushe the tax consequences back a year--Good luck.

The person who taught me options waited for ripe markets up or down.

His attitude was not to get caught up into the crowds and get whip sawed and miss the move.

He became VERY VERY wealthy.His motto was get on the train and take the ride-just be on the train and ride it for a long way

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