Bought 2 May LB at 171.4

I got filled. Hopefully, I picked the right direction. If it takes out the most recent high at 180, it should get to 200 pretty quickly.

By the way, other quote service shows the last trade on Lumber 170 put is at 10.2. Hmm, that was exact my entry, yet I didn't get filled. Oh actually I got filled and had to exercise a return policy that I didn't think I even had. I'm certain that someone on the floor took my 2 puts and keeping profit.

Floor traders

I just got a call from TradeStation saying 2 May 170 puts were not actually filled. He said, their floor trader 'mis-punched' thinking it was call options. (Note lumber options are floor only).

I was immediately thinking, this is completely BS. I, then, asked him, 'So, you're saying, if I make a mistake floors can take advantage of me, but when they (you) make a mistake, I can't do that?' He went silent and it was a mis-punch.

Lumber went up after I thought I got filled and I was making $600+ or so. Now it's gone. I asked my long time trading friend about this and as I expected, he doesn't think there's any little guys like us can do anything.

I hate pit-trading. In electronic trading, all sales are final. There's no return policy crap.

Monday

The chart pattern finally looks more attractive. We formed a double bottom, consolidated for a while, broke the range with a decent up move and now I think it's making a bull flag.

I must admit that up until now, the chart looked so bearish and that's why I was entering every 30-40 pts or so.

There is a resistance at 180 although the chart above doesn't show what actual front-month contracts. TS automatically add / subtracts when rolling-over.

I also have 2 outright futures buy order at 171.40 (it came so close, but now bouncing). I'll leave the order there at least for today. My order is based on 8EMA like JC uses. If it moves higher tomorrow, I'll revise my entry.

Friday

I'm not doing much other that watching nat gas dropping. Lumber's holding its level, but nat gas is dropping multi-year low and it's pretty fast. I put an order to sell 3.5 put back in case we get some panic selling. I'm holding 2 nat gas out right now.

I'm looking to build a house, but I kept telling myself I should wait until I get flat in case markets do go against me very badly. Maybe instead of losing money, I should just sell everything and build one. I've been holding lumber over an year, and I don't think it's because I'm patient, but because I'm stubborn.

Time should tell. I'm just a bit tired of living in a tiny apartment for a long time!

NG update

NG is -10% or so today. How unlucky I am! This was exactly what I was worried about, but I think I played odds. Only 15 mins to NG market close, Apr NG is being traded around 3.94. I don't think it'll close above 4, so I did offset it and bought 1 Jun NG.

Sold 1 Apr NG at 3.941
Bought 1 Jun NG at 4.16

So now, I'm holding 2 June contracts, so I'll place an order to sell 2 calls near 4.5 - 5. I'm not sure if I want to go all in or one here and there, but that won't be until NG has some move higher.

Just a side note, I sold 1 Apr 4 put for $3100, so by exiting 3.941, I made $2510 less commissions.

Nat gas report

The report came out and it must be something like 'huge jump in stock nat gas'. Nat gas dropped -8% or more instantly and my Apr 4 put option suddenly went in the money. I thought it could come down, but wow, I didn't expect this much.

At this point, I don't know if this will expire worthless or I'll get assigned since Apr contract's futures price hubbering around 4. I have to offset tomorrow if I do get assigned, which my broker will not like because futures expire very next day. They are going to freeze my account so that I don't trade any more Apr contract and I have to call to unfreeze so that I can offset.

I don't know if this is good news or bad news, but if it expires worthless, I'll try to sell May 4 put around 0.3 or $3000. If I get an assignmenst, great my avg cost got lower, so I'll roll it over to Jun contract and modify my 5.25 call short limit order to 4.75 call.

All in all, I'd like to make about $10K on this whole trade. NG market closes at 2:30 PM ET, so I'll keep an eye on it.

Tuesday

I took two ES day-trades and both got stopped out.

-$450 less commissions.

Yesterday and today, I'm not syncing with markets.