Tough to layer in as we chase the PPS lower and lower, right? Searching for the bottom is a scary deal. I have been doing this on CQP all day. It is such a volatile stock. It might end up at 21 before its over. A good reason to hold ourselves back from over allocation. My tank is 1/3 full on CQP, 1/5 on ETP and 1/4 on EPD.
I used to go 100% allocation(5%) all at one time, just to say words like "shoot" as the PPS sunk the following week. Of course, I say words like that when I go 1/5 in and the PPS sails upwards away from me too. I rather add on a rising tide than a sinking ship though. CQP is not sinking, it is just roiling in the storm. Once it gets its bearings it will head towards harbor and return its usual reward.
Hang in there everyone...small lots, ITM...and onwards....
I think I am done, wound up with ETP Nov 40s @ 2.63, CQP Nov firstname.lastname@example.org, EPD Nov email@example.com I still might pick up some more EPD Nov52.50s if price below 1.54 Not likely though. Thanks for everything Full positions on ETP and CQP, 2/3 position on EPD.
I am, I can't answer for others. I just placed a Bull Put Spread with the Oct 55/50 for 1.75, BE 53.25 @ Oct OPEX, on EPD. 25 contracts for about $4,000, if PPS @ 55 or higher by Oct OPEX.
On another note, on WMC I shorted Puts on 13Jan22.50 for 1.60, BE 20.90 @ Jan OPEX. 25 contracts for about $4,000, if PPS @ 22.50 or higher by Jan OPEX.....Crumbs....;-)
Layered in on 3 different lower levels in CQP so far, good on ETP, doing great already in EPD, and like whosejake will see what to add more of when I close out BMY next week. Looks like it's going to be a VERY exciting October/November for us this year!
Small positions started in EDP,CQP,ETP,will add more when I sell BMY next week.Need to buy OKS,ETE or PAA.Need to keep some powder dry for AGNC SPO.My accountant is going to be real surprised when he sees the numbers this year.I never made this much money before when I was just trading stocks.
Sounds like my thread I mislabeled last night. I meant ETP not ETE. So if you are looking at the Fab Five, I have revised my plans on PAA and OKS(see that post). I think we will see better action on ETP, EPD and CQP this run. So I have modified the Fab Five to the Tremendous Three...;-)