Monday, November 28, 2011

Trade Update - Mock Trading

With a recent losing streak hitting some of our Mock trades; I am deciding to lift a profitable short position that I have on in MPLS Wheat; I am short and will lock in some profits.

Technically to me it appears that maybe the 8.00 level will hold as support; so on my scale MPLS trade I am going to get out of the 8.38 short for a little over 22 cents profit.

On the line of support holding I am going to place a buy order in at 8.15 for 1 contract, 2 at 8.10, and 3 at 8.05; with a risk to 7.95.

I will leave in my sell orders at 8.45 for 2 contracts and 8.55 for 4 with a risk of 8.63

Another update with the options expiring last week we did see Jordan pick up a short Dec corn position.   He owned both the 6.40 call and put for about 50 cents; so net he is now short 1 at 5.90

It does look like Dan locked in another winner as he had a short MPLS position that he saw his objective hit so  he locked in about 800 profit on that trade.

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