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I used to run a limited partnership, boutique hedge fund in the 90s. Retired in 2000 and moved from New York City to Toronto, Canada, got married, raised a family and basically settled down. After a few years in Toronto, my wife got tired of the city’s 8 months of cold weather and insisted that... More
My company:
iBBQ, Inc.
  • Impressive Reversal! 6 comments
    Jun 7, 2013 10:23 AM | about stocks: AAPL, CSCO, FSLRQ, VIAV, JNPR, LDK, QCOM, S, SPWR, SUNEQ, TSL

    Yesterday, SUNE started out strong and then the bottom fell out and the stock dived...However, after being down as much as 23¢, it reversed and closed up 16¢...Pretty impressive reversal...

    The overall Market(s) also reversed quite impressively, however, it was on low volume...I'm closely following the general market's health and am not too sanguine as to its near term direction...hence the decision to at least sell out my SUNE July options which were quite fat with profits...

    Therefore, as planned and telegraphed here first yesterday, 15 minutes into the markets open, I sold all of the SUNE July options in the Options2Wealth portfolio...As I write this post, I notice that the stock is again up today...However, I am very happy with my decision to sell my July CALLS and I still have a very sizeable position in the company's longer term CALL options...

    I sold all 200 contracts of the portfolio's July $5 CALLS at an average price of $3.01 and I also sold all 570 contracts of the July $6 CALLS at an average price of $2.07...

    Here are the screen shots of the trades...Those following my blog will notice that both these screenshots show the time of "Last Trade" within 4 and 13 minutes of my post here yesterday...and, you will also notice that the number of contracts sold were more than the number of contracts held in the Options2Wealth portfolio account...As I have stated here on numerous occasions in the past, the Options2Wealth portfolio basically mimics my personal portfolio...and the positions held in my personal portfolio are much larger than the public portfolio here...both the screenshots below are trades executed by me...So should anyone doubt the veracity of my postings here, the fact that these somewhat large trades were executed within minutes of my post here yesterday, should serve as conclusive evidence that my posted trades, and the results of the Options2Wealth portfolio to-date, are real, and not the figment of my imagination...LOL!


    (click to enlarge)

    DISCLAIMER: All postings made here are strictly for my personal record keeping and in no way, shape or form, am I even remotely suggesting others to follow my Buy and Sell moves. Trading options is definitely not for the faint of heart as one's portfolio can move up, or down, anywhere between 10%-30% during a single trading day. Feel free to follow my progress here, but PLEASE do not follow my moves. However, if, in spite of all my exhortations, should you decide to do so, be advised that you, and ONLY YOU will be responsible for any losses that you may suffer...In other words, the onus is strictly on you. On the other hand, if the move(s) result in a profit for you, I am open to discussing a split. ;-)

    Disclosure: I am long LDK, SPWR, TSL, SUNE.

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Comments (6)
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  • mkarakum
    , contributor
    Comments (59) | Send Message
    I do like your posts and your analysis, and I dont mean any disrespect. However, I dont understand how these screenshots are an evidence of your trades. All it shows is the last trade time and the price, and doesnt show the amount of contracts traded.
    When I execute my trades my schwab account shows the number of shares and the exact times.
    9 Jun 2013, 10:12 AM Reply Like
  • Options2Wealth
    , contributor
    Comments (135) | Send Message
    Author’s reply » Because my portfolio's ROI is an outlier...so far out of the accepted norm, I can understand why folks like you will be skeptical of my postings and results...


    The reason I do not share screen shots of my Ameritrade account's trade execution page, is because I consider that to be an invasion of my personal privacy...Unlike you, my identity is completely transparent and for me, to share my personal financial assets with total strangers is an anathema...I don't believe that you would like to do that either, and understandably so...


    I am however surprised that you are skeptical in spite of the fact that the screen shots that I shared showed large blocks of very illiquid options contacts getting executed literally WITHIN MINUTES of my postings here???


    You do realize that you have questioned my integrity even though there is ample evidence that my blog is Kosher...and not to mention that a number of folks, some of whom are total strangers to me, have profited from my time, research and experiences that I share here 100% gratis...


    So here is a question for you...if I were to share a screen shot of my June 6th trades from my Ameritrade account's history page, will you offer a public mea culpa to me?


    I believe that it is a fair ask...don't you...


    LOL! :-)


    9 Jun 2013, 11:16 AM Reply Like
  • mkarakum
    , contributor
    Comments (59) | Send Message


    Again, I want to begin my sentence by restating that I dont mean any disrespect. I do understand that many people would be questioning your results, for sure.


    I was never asking you to post your personal account info here, whatsoever. I was not skeptical about your positions and your gains.
    I think you misunderstood or maybe I did a bad job of conveying my message. I read your post and was trying to determine where the size of the trade was shown, like you have mentioned. I still do not totally understand from the screenshot where it is shown, ( maybe because im a newbie ).


    Again, I want to reiterate that I was never questioning the integrity of your posts. Looks like unintentionally, my post lead you to think that, so here publicly, I apologize for that.


    I enjoy reading all your posts, and I find them very informative and useful.


    Best Regards,


    11 Jun 2013, 02:39 AM Reply Like
  • Options2Wealth
    , contributor
    Comments (135) | Send Message
    Author’s reply » Thank you for the note, Murat...


    Normally I post my impending move(s) a minute or two before the markets open...however, on that day, I posted my plans 16 minutes after the markets opened and I can see how the screenshots that I shared would not clearly and irrefutably convey that the 2000 total contacts traded in the 2 strike prices were my trades...


    Because I want to be as transparent as possible here and because I don't want anyone to have ANY doubt whatsoever that the results achieved by my Options2Wealth portfolio in the past 5+ months are real and not faked by me (LOL!), I will post a screenshot of the actual, executed trades in my personal portfolio account at Ameritrade...




    P.S. No hard feelings...really! :-)
    12 Jun 2013, 09:06 AM Reply Like
  • greggbuttery
    , contributor
    Comments (16) | Send Message
    Thank you again for your research. You have been bang on, and my brokerage account thanks you (as do I). I also sold out all my Julys as well. Still hold October and January. SUNE seems to be in consolidation mode. Are you laying low or is there anything else on your radar?
    9 Jun 2013, 10:21 AM Reply Like
  • Options2Wealth
    , contributor
    Comments (135) | Send Message
    Author’s reply » You are very welcome, Gregg...Glad to see you profit from my blog...


    Good question...here is my reason for exiting out of my July SUNE CALLS...I am not to sure about the overall Market's health and do not want to whittle away my profits unnecessarily...Since one can only make money with available cash, therefore, should the markets tank, I will only be able to take advantage of the opportunities afforded to me by the Blue Light Special, if I have cash...


    I am very bullish about SunEdison's prospects going forward, but it is only prudent that I book some of the profits when the overall market's direction is not 100% clear...


    Having said that, I am actually intrigued by the SUNE stock's trading action the past few days and am wondering if there is imminent news that may propel the stock forward some more...this coming week could be interesting...


    Additionally, some time this month, I expect Saudi Arabia to make its big announcement that should buoy the entire solar sector...so in spite of a sea of positives, I believe it is prudent that I take some of my profits as a hedge against any lurking shark bites...LOL!


    9 Jun 2013, 11:44 AM Reply Like
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