konn, contracts long and short are in fact equal in futures market, as you know it's zero sum game. I think he may have meant NG short contracts by speculator accounts. I am not sure where he got the info but you may want to search 'CFTC Commitments of Traders Report Natural Gas' (long form or short form) as a starting point if you want to follow long/short contracts per future trader types. I don't follow it and didn't check the number he claimed.
10 VXX calls sold 2 weeks ago expired worthless, which was sold 3 weeks ago, call premium was very good then, $3 for ATM 3 weeks out.
Bought 5K UNG shares.
Sold 3 KOLD Nov ITM calls.
Sold 2 KOLD May 2016 slightly ITM calls.
Sold 2 KOLD Dec deep ITM calls. Feel like NG has no bottom, but can't go down forever.
Missed chances to sell SCO calls at the open USO drop. Kept missing chances and hesitating on oil. Hope I get another chance next week.
Rolled JNUG calls sold to next week deeper ITM calls.
Closed 10 NFLX Jan 2016 calls sold right before earnings.
Closed 500 VFC shares short.
3K SKX shares short taken away by 30 puts sold.
Calls sold expired worthless:
10 AXP, 1 CMG, 10 CRM, 5 IBM, 15 SKX, 5 UA, 10 VMW, 1 AMZN
Calls sold assigned shares short:
10 DFS, 10 GS, 1 ISRG, 5 MCD, 5 MSFT, 5 URI, 10 UTX, 5 JNJ
Added to shorts going against. At least, added shorts should help in case market dips.
Account big minus. FED meeting next week. Expecting no rate hike, no press conference scheduled, market not prepped, etc., but they can still move market with their statement. Time flies.
This happens occasionally, opposite of the days where both SPY & VXX. Seems VIX is flat, meaning S&P options do not see more volatility, but VIX future traders are pushing the VIX futures up betting on spike in volatility, I guess, due to debt ceiling fight.
Closed 5.5K SKX shares short. Remaining 3K short shares will be taken away by puts sold.
So, account new ATH today. Turned out to be a great day.
Rolled SCO deep ITM calls assigned to next week.
Bought 20 UTX deep ITM puts.
Bought 10 URI deep ITM puts.
Sold 20 JO Mar 2016 ITM puts. Finally, a bit of JO long.
Account huge plus. Getting a bit tired. SKX after-hour earning drop should help account tomorrow. Hope VXX gets to $18 tomorrow so I can close a bit.
zach, That's an embarrassing one^^ I had many worse than that and my account somehow managed to prosper. Unfortunate but it's OK I have VXX shorts several times that of UTX short, with more gains than UTX loss, those VXX shorts just from the last spike, not including previous shorts. Embarrassing but I am not much worried, I believe I will get out with some gain. Added today too. What I feel these days, if one has enough money to sustain the move, one has much higher odds of winning. Not a best strategy I guess but that's how I do it and works for me. Looks like I will be going to Galapagos, and then maybe Kitzbuhel, no flight ticket yet, Good day zach.
nmbvua, not sure why you're so obsessed with a thought that UNG issuer is ripping off UNG buyers.
Yesterday UNG Close (4PM): UNG 11.31, NG Dec Future at 4PM: 2.682
Today UNG Close (4PM): UNG 10.95, NG Dec Future at 4PM: 2.603
% Down (yesterday 4PM to today 4PM): UNG -3.18%, NG Dec Future: -2.94%
That seems good enough to me given exact timing of those last UNG and NG Future trading may be different and also considering a little bit of tracking error..
Future daily price change % you see on the web is not based on 4PM close while ETF trading closes at 4PM which is used for daily price change for stocks and ETFs, NG Future does not close at 4PM. If you are so concerned about being ripped off, why don't you just trade NG future.
I'm not saying there's no decay in UNG. Every educated trader understands there is UNG decay with NG future contango and there may be some tracking error, but not as much ripping off as you claim. Good Luck.
Sold 10 VXX Nov near-the-money calls.
Sold 10 VXX Oct/end ATM calls.
Missed chance to short VXX shares AH. Shorting market and adding VXX short for further hedge.
Bought 2.5K UNG shares.
Sold 2 KOLD Nov ITM calls.
Sold 2 KOLD May 2016 ITM calls.
Sold 2 SCO Nov/1st ATM calls.
Sold 2 SCO weekly deep ITM calls.
Sold 2 SCO next week a bit ITM calls.
Shorted 1K GM shares.
Shorted 200 UTX shares. (200 filled so far out of 1K)
Closed 500 GS shares short.
Sold 5 MLNX Nov calls.
Shorted 1K DOW shares.
Sold 10 AXP weekly ATM calls.
Sold 5 URI weekly ATM calls.
Sold 5 MCD weekly ATM calls.
Sold 5 UA OTM calls.
Account huge minus with VXX up, oil down, some shorts not down. Some of market shorts are embarrassing. Was a busy day, with missed opportunities. Earning season, not too good but not too bad either so far.
rmoorepe, thanks for invitation. But, this board is where my trade history is for a long time, and I don't have much time to post much.
trader, GUSH/DRIP follows S&P Oil & Gas Exploration & Production Select Industry Index, and XOP follows the same index at x1. Not sure what is x-1 for the index.
zach, I am happy to be always wrong if it means growing account overall. Many market shorts are in red but it's OK as they are meant to be hedge for too much VXX short. Account is doing well and my trouble now is deciding where to go for vacation, Kitzbuehel Austria or Chanmonix France for snowboarding, or Galapagos Ecuador, Costa Rica, Portugal or some place else. Good day zach.
blue, I am building long term UNG long position, added 5% of target today, total 10% so far. UNG decay is concern. Not long ago, discussed with Konn about UNG expected to be around $11 when NG future goes down to 2.2. But it's already $11 at around NG 2.4. So selling KOLD calls as shorter term trade to offset UNG decay and for some fun while waiting.
Already built full USO long position, hoping bottom is in for the year. Also selling SCO calls on oil weakness like today as shorter term trade.
Want to see how buying depressed oil/gas and holding for long will turn out, 1 or 2 years out. Dreaming of 10 bucks each as long term capital gain, maybe impossible dream. Also looking at beaten down commodities, CORN, JO, UGA. Good Luck Trading.
blue, CNBC site posted that "the meeting yielded no discussion of possible production cuts by nations inside or outside the exporter group, delegtes said." That's timed about 30 minutes ago. Guessing, maybe the meeting is over now.
Wondering why call the meeting if they are not going to discuss production cut as you indicated.
Thanks fp, UGA hit 28.* twice this year, Jan & Aug, and unlike USO it held Jan low in Aug. But with winter coming, not sure UGA will hold, though was told its futures tend to have lower contango than USO's. May start by selling longer term puts on weakness. Good Luck Trading.
fp, can you share with me the reason JO was considered a better buy than CAFE then? I've been looking at JO and UGA, may consider them when they come down a bit more.
Shorted 3K UTX shares.
Sold 2 SCO Nov/1st near-the-money calls.
Re-Sold 2 JNUG Nov/2nd near-the-money calls.
Sod 10 DFS weekly ATM calls.
Shorted 1K GM shares.
Sold 10 VMW OTM calls.
Sold 1 ISRG OTM call.
Sold 1 CMG OTM call.
Shorted 1K BHI shares.
Missed chance to sell SNDK calls, yesterday luckily, but today again.
Account a little bit minus. A bit tired. Hoping for USO down in the morning and then rebound. Front month VIX future expiration tomorrow. Hope market holds a bit more till I add shares short. Much of short so far is call sales instead of shares short.
konn, I tend to enter early and regret, but I still seems to do it but maybe less so. One of the reason I'm aggressive in shorting lately is to hedge my large VXX short position. VXX may continue to go down, but as VXX is down much now, I need to start refilling market shorts that I closed several weeks back, so I can entertain another VXX spike if it comes. If market climbs further, I may have to refrain from shorting market until it goes back to previous high. Good Luck Trading.
pro, I would rather listen to what blue says. I just have hard time listening to folks claiming themselves as pro, whatever pro means, nothing personal as I don't know much about you, maybe it's just my issue I guess. I don't need advice on when to buy, when to sell. I just want to listen to other people's view and ideas, and share mine. Just expressing my choice. Good Luck Trading.
Closed 1K VXX shares short. Supposed to close more but closed only 1K since I added much market short. Nice day, $203 SPY is about flat but mid-$19 VXX is down more than a buck, the power of contango and front month VIX future expiration.
Closed 5 JNUG deep ITM calls. Hope it bounces back so I can sell the calls again.
For earnings season:
Shorted 1K SBUX shares.
Sold 10 SBUX Oct/end slightly OTM calls.
Shorted 1K EXPE shares.
Sold 5 EXPE Oct/end slightly OTM calls.
Shorted 1K SKX shares.
Sold 5 SKX weekly near-the-money calls.
Sold 5 IBM weekly near-the-money calls.
Sold 10 UTX weekly near-the-money calls.
Missed chance to sell HOG calls.
Account big plus, ATH by a large amount. Good day, hope the market doesn't shoot up too much.