Thursday, April 7, 2011

CBOE Weeklys

The Weeklys are very short-term options traded on the Chicago Board of Options Exchange. The most recent batch will expire on Friday, April 15. Since this is the last week before expiration for the regular April options, no new weekly options will be issued by the CBOE.

The CBOE Weeklys page.

The CBOE Weeklys list.

Below is a list of those in bull or bear phase. I've excluded those whose parabolic sar phase differs from the price-channel phase, according to my trading rules.

Weeklys expiring April 8, 2011

Bull Phase
sym adx traj psar bday blevel bstop 2-day?
BIDU       mar23 $131.63 $127.68  
EEM       mar30 $48.21 $47.26
EWZ       apr1 $79.09 $77.61  
GDX       apr5 $61.37 $60.01  
GLD       apr5 $141.28 $139.72  
IWM       mar30 $83.77 $82.38  
MCP       mar29 $57.40 $55.07  
MEE       mar23 $67.17 $65.15  
PCLN       mar24 $474.74 $460.50  
PFE       jan4 $17.90 $17.41  
SLV       feb17 $30.44 $29.79  
T       mar28 $29.61 $28.72  
USO       apr1 $42.83 $41.98  
VZ       mar28 $37.32 $36.66  

Bear Phase
Price channel and parabolic sar concurrence
sym adx traj psar bday blevel bstop 2-day?
AIG       feb23 $39.52 $40.76  
INTC       apr1 $19.17 $20.15  
RIMM       mar25 $58.53 $56.19  
Issues that I hold positions in are marked with an asterisk (*).

  • adx: Average direction index location, indicating the strength, or the temperature, of the trend. Orange for 40 or greater, aqua (light blue) for 30 and up but below 40, magenta (light purple) for 20 and up but below 30, and brown for anything below 20. (Mnemonic: Orange for the overhead sun, blue for the surrounding sky, purple for sunset on the horizon and brown for the earth.)
  • traj: Trajectory of the ADX, green for strengthening, red for weakening or yellow for unchanging. Note that if the adx column is orange and the trajectory column is red, then the position must be closed.
  • psar: The parabolic sar, either green for bullish or red for bearish.
  • bday: Breakout day, the day the price broke through the upper or lower 55-day price line.
  • blevel: Breakout level, the price level of the line that was broken through.
  • bstop: The stop/loss price calculated on breakout days as the 14-day average true range below the breakout-day low for a bull phase and above thre breakout-day high for a bear phase.
  • 2-day?: Marked with an "✔" if the two-day rule is in effect. Under the rule, if the price closes below the breakout level on each of the two days following breakout day, then the position must be exited.

About channel analysis

Read a detailed explanation of my channel analysis method, including trading rules.

Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.

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