My Call & Put Entry Strategy

This is the checklist i need to tick before enter a call or put trade. Its no secret. All the criterias are plain simple, even a child can do it. All it takes is stick to this plan, and there's 60% chance the trade will turn out well.

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Call Checklist
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Straight Call

Date :
Trade No :

Entry point checklist

Market Bullish
Daily trend up
Daily MACD Cross 0 up
Daily MA20X50 cross up
15min MACD cross 0 up
15min MA20X50 cross up
5min MACD cross 0 up
Price above 5min MA20
Break box up
Touch daily trendline
Rebound from daily trendline

Option chosen

Option
Strike
Premium
Intrinsic Value
Time Value
Highest price of the day
Lowest price of the day

Exit Point Checklist

No of days / mins hold
Sold price
Net profit / loss
Net actual profit %

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End of checklist
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As you can see, my exit strategy is based on my own discretion. No hard and fast rule. Mainly $0.50 profit / $1.00 / $1.50 / $2.00 profit based on my opinion on the strength of the move in very short term.

I usually just queued to sell at a fixed $0.50 interval price after i buy an option.
My cut loss point is $1 for high volatility stock like GOOG, BIDU, GS. $0.50 for less volatile stocks like AAPL, MA, RIMM.


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Put Checklist
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Straight Put

Date :
Trade No :

Entry point checklist

Market Bearish
Daily trend down or uptrend met a major resistance pt
Daily MACD Cross 0 down
Daily MA20X50 cross down
15min MACD cross 0 down
15min MA20X50 cross down
5min MACD cross 0 down
Price below 5min MA20
Break box down
Touch daily trendline
Fall from daily trendline

Option chosen

Option
Strike
Premium
Intrinsic Value
Time Value
Highest price of the day
Lowest price of the day

Exit Point Checklist

No of days / mins hold
Sold price
Net profit / loss
Net actual profit %

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End of checklist
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