FTSE struggled to stay above 3500, and without the puppy like enthusiasm of the US market I think it'd be down around 3300 which would pique my interest for a long. Not happy to sell puts currently and annoyed that I missed the obvious trade- a long combo or risk reversal- sell calls to buy puts. The move on FTSE was massive- 150 points so the rewards for tiny risk were massive. Calls are overpriced still, so it was a gift of a trade just wasn't thinking.
On a sidenote- I get trades from John Piper who is a mentor and his binary suggestions are sometimes huge fun. Tonight's is for the DOW to be lower by more than 200 which IG index wrongly express as wall street cash low to be <200. Buy price of 4 recommended. (They have a terminal value of 0 or 100 hence binary)
John started a scheme to get traders to punt his own money, and the idea was to double your pot each month. Mine is up 40p and the scheme was about 18 months ago- I may be a slow learner. I like binaries and they are a great low risk trade. Would love to meet fellow binary 'traders'.
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Boo
ReplyDelete:-)
Regarding this:
"On a sidenote- I get trades from John Piper who is a mentor and his binary suggestions are sometimes huge fun. Tonight's is for the DOW to be lower by more than 200 which IG index wrongly express as wall street cash low to be <200. Buy price of 4 recommended. (They have a terminal value of 0 or 100 hence binary)"
What is the natigation on IGIndex to this?
awbMaven
binary indexes-wall street cash daily, then ranges.
ReplyDeleteLadders are also interesting, as are weekly ranges-the extremes can be a 'sell' like an options strangle, or more precisely an iron condor.(Binary bets are the same as option spreads with risk of 100 minus premium when sold).