Oct 102014

– BUY RIG 100 OCT 14 28.5 PUT @.79
This is a bit risky but I bought puts in RIG to prove a point that Tom and Tony should be listening to askSLM instead of dissing his strategies. I wasn’t really feeling like playing oil but Tom and Tony told every one that they are trading up RIG and it looks like crap cyclically. Looks like they are bottom picking. A lot of the guys that I have been learning from are doing things that it wouldn’t seem that they would. Bottom picking! I’m over the bottom picking and especially in this market. If anything people should be considering some top picking…

10/13/14 – SELL RIG 100 OCT 14 28.5 PUT @.42
I had to pull it off. DOH! Rallied fast right out of the gate. Might be able to get back in at better pricing. It was a long shot but I had to go for it.

You should never trade in the first hour of the market. If you notice above the rally fell off hard and is going back down to my profit range.  DOH!  I’ll keep an eye on it.  I was looking at buying NOV PUTS but the markets were very wide when looking at pricing and I didn’t really want to get back in at those levels. %52 loss after commissions.  I still see this going down but I just don’t like the risk and price action.

10/13/14 – Tom just reloaded his RIG at the close. I would also like to reload but it’s to risky for me.

10/14/14 – Tom just bought more RIG. Holy crap! I’m thinking of getting in first thing in the morning if it moves fast off the open.

Bottom line is Tom and Tony were scalping the crap out of this thing. Selling premium and buying it back within a day or 2. When you hear them getting bullish in RIG it was only for a day trade so you can’t really follow their trade without getting stuck in a possible loser if you get long. Check out the chart now.


12/17/14 – Since then RIG has been crushed!!  Moral of the story is don’t do what Tom and Tony do cause they usually get out of their trades within 15 hours of making them.  They were talking about getting long RIG at 29 and it fell to 16.  Holy crap!