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hardnox
Advisor

some long held objectives

that seemed like pipe dreams coming into sight.

 

4.30s CZ, 11.40s SX.

 

I used to think that I was pretty good at order placement but with markets these days I think you just avoid the obviously bad orders (even numbers, clear resistance points etc.) and throw something out there, or just go market.

 

I'll probably try to go to a net 30% sold with a 20% cash sale and lifting half of the lower priced puts in put spreads or whatever that calculates out for net delta.

 

Hope it goes higher yet.  For now it feels that way.

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3 Replies
hardnox
Advisor

Re: some long held objectives

As a matter of discipline, have to hit the first 20% cash increment here.

 

Think I'll hold on lifting the lower puts on the put spreads.

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hardnox
Advisor

Re: some long held objectives

Hah.

 

Even though I made myself pull the trigger on a cash sale I froze a bit and pulled the plan to lift the lower puts in the put spreads and move to a slightly shorter stance.

 

Marketing isn't beanbag, its a real, skin in the game, deal .

 

In my mind the odds are decent that this thing isn't over. I hope not because I have orders in at higher objectives.  But it could be.

 

If we get a runaway I'll have opened myself to ribbing from everybody who froze in the headlights there but my experience 100% says that the best sales are the ones where you're having to sit on your hands to keep from jumping on the phone to cancel them, because the excitement is just too much.

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Jim Meade / Iowa City
Senior Advisor

Re: some long held objectives

You wont' get any ribbing from me, as you've done far better than I have marketing so far this year.

I had a 4.35 dec corn bid on the books back when I was ashamed to tell the broker, and yesterday he told me it hit.  I'm happy for that but feel bad for earlier sales.  Smiley Sad

It's not that I'm not going to make money, but I'm going to make a lot less than I could have.  We'll have to see.  I'm willing to sell some more and may ahead of the report.  Having been sure it would never get this high, now I'm a little gun shy of selling because of the idea that it could keep on going up.  

Markets have a way of forcing one to redefine reality, even when one is utterly convinced the new reality isn't real.