Squid Options

Now the stuff is real !

Looking to Enter On a Pullback on the Canadian Dollar

You never know if a pullback can turn into a trend reversal. In this case I think that MAY be happening. We do have some room between our entry price and the recent high so there is some breathing room above.

Will see what the spreads look like on the open and see if I can get a good price to enter.

Closed the Trade After One Day … On to Next Trade

Well, that was a quick trade. I entered on Monday and closed out on Tuesday. Most trades do not close out so quickly for a profit, but it sure feels good when they do.

I bought the SPY spread for 0.21 and sold a day later for 0.44, which is a decent return.

For the next trade, the Canadian Dollar and the Japanese Yen have both pulled back in regard to the US dollar. So I will start going over each of them with my trading ‘framework’, and see if there is a profitable trade to be made.

Took a Long on the S&P

The S&P took a beating last week and was getting way oversold in my opinion. When you trade interdependently, your opinion is the one that pulls the trigger.

So I was looking for a short term bounce, but I also wanted to protect myself against a crazy fall from the double top the S&P has been making. So I looked to a bull debit spread, as a  way to get long.
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Another Week, Another Trade

Another week, another open. The start of the week is always hard to get your mind back in the game, especially for the first couple of hours of the day. You have been away from the markets for two days and you have to process what happened if anything, over the weekend and how it will influence that market.

The good thing is that everyone else it thinking the same thing. The first few hours on Monday can be jerky and have a lot of trading ranges where traders figure out how they are going to play the market.

Take a look at the Eurostoxx open. A pop off the open because of data out of China, and then , just a choppy, choppy trading range. Trading that will get anyone frustrated.  If you hit the first move of the day, it might be better to avoid the hop and wait fir the US pre-market action.

Added Canadian Dollar Spread

I added another Canadian Dollar spread. I was very light on my positions in my book and I
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30 SEP 2012 Canadian Dollar Outlook

OUTLOOK

The Canada’s dollar has climbed 3.55 percent during the third
quarter. Canada has solid growth compared to the neighbor to the south. In today’s environment it is a great thing to have growth.

The CAD had been getting strong all quarter. Coming into the fourth quarter…

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Starting the Week Light

Only have one position starting the week. I will need to add to this over the next two weeks.