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Options Trading Signals

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After analyzing and tried a few options signals services, I came across Slignshot options signals services.

I took a very close look at their website. They explain their service and claim to get a very high profit percentage. In fact you can double your money in a few months according to their performance results.

So after giving it some thoughts I decided to try it for a month. I took the silver program. With this program you receive signals on 3 stocks which are CLF AAPL and LVS.

To learn more Click here

Basic Methodology

I decided to invest not more than 1,000 per security at a time.
Also I decided not to invest more than 5 contracts at a time if less than 1,000$.
I decided also not to compound on the same security. Slingshot sends additionnal signals in the same direction while we already have one trade going. So I just let those trade suggestions aside.

So with a 5,000$ account I could easily use this service.

I paper traded the signals between july 25 2010 and august 25 2010.

Symb Signal Entry date Price Stop Option Option price Exit date Price # options Profit/
Loss
LVS Buy 2010-07-19 23.87 28.00 Aug 24 1.60 2010-08-06 4.55 5 1475
AAPL Buy 2010-07-19 250.13 259.00 Aug 250 11.88 2010-07-29 12.50 1 62
CLF Buy 2010-07-20 50.03 47.74 Aug 49 5.50 2010-07-29 7.50 2 400
CLF Sell 2010-08-02 57.23 59.00 Aug 57 5.50 2010-08-11 2.60 3 -270
AAPL Buy 2010-08-04 262.85 259.96 Aug 270 2.75 2010-08-06 1.65 4 -440
LVS Sell 2010-08-06 28.22 29.53 Aug 28 0.87 2010-08-18 0.10 5 -385
AAPL Buy 2010-08-09 261.75 257.11 Aug 265 3.00 2010-08-10 1.75 3 -375
CLF Buy 2010-08-16 59.57 57.83 Aug 60 1.50 2010-08-18 3.45 5 975
AAPL Sell 2010-08-19 248.70 254.88 Sep 250 8.10 2010-08-24 11.10 1 300
CLF Sell 2010-08-19 61.96 64.55 Sep 62.5 4.50 2010-08-25 7.00 2 500

Total profit 2,242

Overall I managed to get a bit more than 2,000$ profit on 10 trades (6 winners, 4 losers). The period was not the best time of the year but still it worked out pretty well.

It is very important you master the contingent order with this signals service. Since they base their trading signals on the security price and not on the option price this is why you need to use contingent order to get the best results.

A contingent order is very simple to understand. You place an order on the option related to the security but based on the security price. In fact it says the following. We buy 1 option contract august 240 when AAPL if greater or equal to 239.45 for example.

With this system you buy a call to trade the market long or you buy a put to trade the market short.

The beauty of their signal service is that you can place your order before market opening and forget a about it. You can do the same with stop orders.

To learn more Click here

Their signals are pretty clear and you can listen to a video where they explain how it works.

I definitely recommend this service since it is quite reliable.

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