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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.
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Here are the results :
| 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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