How to view the entire chart:
1. Try clicking on the name of the most recent article in the column on the right. This will remove the "Archives" list.
2. Try right click on the chart itself and open it on a separate window.
I am sorry that I cannot always make the chart small enough to fit neatly on the left column. I want you to be able to see the details I want to point out.
I Hope this helps,
Juan
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After today's news that IMCL lost a legal battle, and with a spike in IV, I suspect that the implied volatility in this stock is not going to get any larger. Fearing a loss through decline in IV, I have closed the position with a small profit that covers my commissions and enough money to buy dinner in a good restaurant. Still, The IMCL experience has been very good with other 2 trades providing me with good profits.
Here is the confirmation from Interactive Brokers. The trade has been stored in my shared folder, in case you want to follow my actions.
4 comments:
I have also closed all my IMCL positions because of the increase in IV. Here are the results of my 5 trades 3 different accounts.
1. 11.78% in 6 days.
2. 5.5% in 24 days
3. 21% in 23 days
4. 33% in 28 days
5. -.008% in 19 days. oops.
Total $6720 in profits. These were my first PCCRC trades. I learned these trade by watching Juan's movies and studying his material. I modified his strategy to make the trade more delta neutral, but the idea is still the same. I posted 2 of my trades on his web site when I placed them. Thank you so much, Juan, for your excellent web site and information.
Rick
I am certainly glad that you have a good experience. Trust me, that there will be the losers, that is inevitable, but part of the job is to recognize those that are not worth keeping. You don't want to be indefinetly in a trade that is not performing well.
Another danger is to stay in the trade and seing your profits evaporate. Setting a limit gain for exit is a good thing. You can always reenter the trade later, as you obviously did. PCCRC's are not cheap in capital commitment, but they are very safe.
I am glad you think my efforts are worthwhile. Please help me make it better (you Rick and others) with your comments and your questions.
My biggest question is on entry and exits. I think you open the trade as straddles, buy the longs and when filled sell the short term straddle or sell the call/puts with separate orders (legging in). Is that right? I have opened positions as put/call calendars. I have received bad fills on the second order after the first one gets filled since I am buying more options than I am selling. For example: stock moves up, put calendar gets filled first (long term puts decreased in price). The call calendar spread price increases. I either act quickly and pay the extra cost or I wait, take my chances, and hope for a better fill. Which puts me at market risk. The whole idea is to not be at market risk. I have the same problem on exits.
Have you experienced bad fills with your method of entry and exit? The risk I see is if the IV of the short options fall before you get filled. Which would be much less likely than the stock moving.
I am aware that you can and will lose at times. I mentioned the IMCL trades because they were my best. I have lost on two PCCRC trades so far.
Rick
Well done Rick and Juan on your recent successes.
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