nv, the st is cloudy, that's why i posted my strangle (not straddle) position on orcl
if you look at the ndx chart we have been making a bee-hive around the downtrendline since independence day, if you look at some big caps drivers like orcl and dell who have been going great guns off the mid june oversold low, they are both consolidating now at gap resistance off the april high.
my feeling is that we have already failed to breakout of the trading range and that we will revisit the bottom of the channel, if orcl fills the breakout gap here i will have a decent profit, with low-risk.
the bottom line of trading is not being right all the time, because nobody has a direct line to cleo's taro cards, what is most important is risk management,
the trade i made friday on orcl was a low risk trade, figuring that volitality would increase out of the NR7 (that's a rasche term)
most option traders go for home run's and end up in the minor's, it's better to take a 20% gain on a straddle, than bet on a big gain and get killed.
i've had my time with options, i've made giant gains and given them all back.
options should only be played in small parcels and then carefully.
people that are bragging on these threads about option trade kills are lucky or liars.
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