what type of transaction costs are you paying for these trades?

Already reversing on US API # which showed a massive build, even higher than expectations. A lot of my top follows were speculating today a few big players covered some of their large short positions in crude.

7.95 to buy and 7.95 to sell but I've already accounted for that on the buy and sell side.

Anyone thoughts on GILD? It seems like the impact from HCV price war wasn't clear in the release but came out on the call after which it dropped seven points. How likely is another sell off similar to the one seen in December?

Thank you DIS!

Anybody liking a CMG short?

I liked it more this morning

The most important number to watch in tomorrow's report is US Crude production. It will come out a few hours after the EIA inventory report. Keep hitting refresh on the EIA data table. If it is flat or down I think crude rallies huge as this number is not expected to come down for another few months. If it is up then short for the day imo. It was up last week and the market didn't seem to care though. Also, be careful trying to predict the EIA inventory number based on the API#. Not alot of correlation lately.

How stupid is it to open a short and a long at the same time shortly after the EIA inventory?

It is very stupid

How comes?

Of course. I am just a little curious to see where they will be sitting at next quarter.

I personally think qdoba burritos taste much better than chipotle. I find chipotle kind of meh and it seems like that commercial space is getting more crowded by the day.

I like CMG long with a stop just under $670, would let it settle out after ER though.

OK, time to take some(?) lumps. I dunno if this is the right thread, but it's an active thread and has smart people in it. And I'm a total noob

I want to learn selling options as a potential income strategy, so I did some reading and figure it's good to just get started small time, try things out, learn etc. And to start with risk-limited tactic of selling covered calls.

So a couple of weeks ago I sold some $19 2/20 covered calls on USO (when it was trading at $17). Obviously I knew that was a risk, but I'd like to keep a long position on USO after 2/20. Maybe I'm just being results oriented but did I make mistakes here? Should I try again?


What are my least painful ways to keep the long USO position longer term?

I've considered:

-Waiting because patience is key
-Just buying more at the current price when the option gets exercised
-Buying back the options now at a loss
-Roll the option up and out (this one I don't quite get, they're two separate transaction can't I just buy back the current option and decide about a future option on its own merit?

Thoughts?

USO kind of sucks for the buy and hold investor. USL is better.

Also regarding covered calls, My issue with this strategy is that you tend to **** like an elephant and eat like a bird. Especially since the stocks with sweet option premiums are more volatile.

Why?

I'm not exactly sure why people think going long and short at the same time really means anything. It's the same as having no position.

Yeah there's rarely any clear cut answers and it's somewhat comical that you think you made a mistake. My read: you put on a trade and limited your upside. It has gone in your favor and now you regret selling the upside.

If there's good opportunity for a breakout in either direction and you try to have as tight SL gaps between your long and short as possible, couldn't you make money?

Who was asking about GILD earlier? Here's your flush. I plan on grabbing some, but not today.

No, buying 1,000 shares and then shorting 1,000, is the same as opening a position and closing it.

My broker allows me to have two open positions at the same time, short and long for the same comodity. If you're expecting a breakout in either direction then as long as one of the position stops and the other runs it would make money right?

Unless I'm being an idiot and missing something here (likely)!

I've only held 2 stocks for the past 4-5 years, luckily one of them was DIS, which I bought at $31.01. Just wish I bought a ton more.

i am confused, why was GILD down despite beating forecast/announcing dividend/share buyback?

Well I would have nailed that SCO trade. See if I can keep finding those spots even with play money, and then put my money where my mouth is.

GILD at 96 is really tempting.