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Let's Trade Options

  • #15,301
  • Dec 7, 2017 1:15pm Dec 7, 2017 1:15pm
I bot Feb TLT bull puts vert, $121/$120, for 12c
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,302
  • Dec 8, 2017 6:32pm Dec 8, 2017 6:32pm
Quoting The Fool
If I can fill cheap spreads, the r:r is so much better...this SPY $265 Dec15/Dec20 call calendar wants a penny (maybe 3c) to net back a little over $2? What's wrong with that? Dec15 atm calls today set ya back $1.75....do you think Santa will bring another 50 points in the spoos? If you ride a trend safely into the long call week and SPY goes over $265, your 3c could pay $3.50 or better......100bags for Xmas.....nice.
ok I did a lot of these, all around $265 but not on it - @ $264, $266-8 and then I did some Dec22/27 $268's and $270's also. Nothing came on for a penny but nothing cost more than 4c either and most were 3c and I think I filled some at 2c.
I don't know what I was smoking cuz the 3c calendars will likely only give back around 45c max with a perfect finish but if I can let some run in the long call week sure the sky is the limit.

I love me some redonkulous high r:r...........
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,303
  • Dec 15, 2017 9:56pm Dec 15, 2017 9:56pm
Quoting The Fool
{quote}ok I did a lot of these, all around $265 but not on it - @ $264, $266-8 and then I did some Dec22/27 $268's and $270's also. Nothing came on for a penny but nothing cost more than 4c either and most were 3c and I think I filled some at 2c. I don't know what I was smoking cuz the 3c calendars will likely only give back around 45c max with a perfect finish but if I can let some run in the long call week sure the sky is the limit. I love me some redonkulous high r:r...........
Dec15/20 SPY call calendars all mqde money except the $264s cost another dime to close. Broker called me & warned about 12/15 ex div date for SPY said itm short calls would be assigned the day spooked me to close some early on Thurs. Was a mistake as the $267 finished near perfect and there was a 20bag net out on it. But I did close the $268 for net 10bag on Fri.

I filled some more bullish SPY call spreads for next week expect to see one more leg up on the big tax cut win.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,304
  • Dec 17, 2017 9:48pm Dec 17, 2017 9:48pm
Quoting The Fool
I filled some more bullish SPY call spreads for next week expect to see one more leg up on the big tax cut win.
I think the highs of the year are yet to print, we cwn see spoos 2,700 and DOW 25,000 or more
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,305
  • Dec 18, 2017 4:17pm Dec 18, 2017 4:17pm
Quoting The Fool
I think the highs of the year are yet to print, we cwn see spoos 2,700 and DOW 25,000 or more
when the glorious announcements is made, it'll be like this on Wall Street
Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,306
  • Dec 25, 2017 2:26pm Dec 25, 2017 2:26pm
Have a Hippy Holidays!

And ... you probs already "felt" this -- lowest vol year ever probs for Spoos/Nazzy: https://twitter.com/tastytrade/statu...91551035789312 Ugh.

Add to the mix the record low Dec /VX settlement at (WFT?!) 8.75. Yeesh. Short vol -- the gift that has kept on giving ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #15,307
  • Dec 25, 2017 2:36pm Dec 25, 2017 2:36pm
Quoting The Fool
{quote}when the glorious announcements is made, it'll be like this on Wall Street https://www.youtube.com/watch?v=HV2w0CwQLYs
Was somewhat disappointed that we didn't get the immediate "bullnado" push to S&P 2700/Dow 25k post-tax reform signage. Imagine the immediate concern thereafter was gov shutdown, which was most likely never gonna happen ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #15,308
  • Dec 25, 2017 5:20pm Dec 25, 2017 5:20pm
Quoting ZebraSquirl
{quote} Was somewhat disappointed that we didn't get the immediate "bullnado" push to S&P 2700/Dow 25k post-tax reform signage. Imagine the immediate concern thereafter was gov shutdown, which was most likely never gonna happen ... .
Yeah i gave some back on long spy n dia out to the big rounds but i had a good q4 overall just catching bull range up with calendars n verts. I been dreaming of some downside....maybe someday. Merry Christmas zeebs n have a great 2018.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,309
  • Jan 1, 2018 7:23am Jan 1, 2018 7:23am
in the email today from tastyworks - this is big news for me....

..................................

Hello, tastynation!

To start off 2018 just right, we want to thank you for your show of unconditional support and irreplaceable loyalty for tastytrade and tastyworks. You are the reason we’re driving change to the financial industry. We’ve not only planned more of what you love, like more live tastytrade shows in 25 cities, more trading tools, more mind-blowing content, more new daily shows – but also stuff that will leave you thinking, “How’d they do THAT?”

tastyworks introduced zero commissions to close trades on Jan 3rd, 2017. Starting tomorrow, on Jan 2nd, 2018, tastyworks is introducing capped commissions for large option trades. This means the most commission you will pay for any single leg option trade is $10* (plus clearing fees). That’s right, just $10* per leg!

Eighteen years ago, when we built thinkorswim, 100 option contracts to open and close was $300+. At the time, we thought $1.50 per contract was cheap. Today, the industry average per contract is about $.70 plus a small ticket charge. So, 100 option contracts today is approximately $150 to open and close at most firms. With tastyworks’ new rate schedule, the same trade will cost $10 in commissions to open, zero in commissions to close and a $20 clearing fee for a total of $30. Compare that rate to any other firm on the planet and remember how good our technology and content is as well. Fees for small options trades (10 contracts or less) stay the same.

But we’re not done. As an added bonus, tastyworks will have twelve monthly drawings for funded accounts (minimum of $2,000) and each month, one customer will win free commissions for 5 years. And no, we haven’t lost our minds. We simply want to do something special and this is just the start.

On the technology side, tastyworks is releasing a new analysis tab, portfolio margin, options on futures, paper trading, an open API, a new scripting language and lots of new mobile features.

So thank you again for the incredible engagement over the past year. You have helped to make tastytrade and tastyworks one of America’s fastest growing financial innovators.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,310
  • Jan 14, 2018 8:26pm Jan 14, 2018 8:26pm
The new commission schedule is kind of a giant "yowsa" ... . $10 ... . Shit. It wasn't that long ago when TDA options charges were $6 one way for an iron condor ($12 round trip) ... for one contract ... . There is "cost of doing business" and there is "gouging" ... .

Happy 2018 and, yes, I will say it again: "Can we get a little volatility here?"
Fireworks are fun ... as long as you don't blow your fingers off.
  • #15,311
  • Jan 16, 2018 12:06am Jan 16, 2018 12:06am
Quoting ZebraSquirl
Happy 2018 and, yes, I will say it again: "Can we get a little volatility here?"
YEAH, happy is right...solid bull run to start the year....that's 9 straight green candles...dunno what the record is....maybe gumment shutdown would spook it, then the FOMC at the end of the month.....idk
Attached Image (click to enlarge)
Click to Enlarge Name: 2018-01-15_2205SPY.png Size: 108 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,312
  • Jan 16, 2018 1:15pm Jan 16, 2018 1:15pm
omgomgomg....SPY is gonna print a red daily!

I bought a Feb2 SPY put fly - $267/270/273 for 15c....lookin for a post FOMC slide

I also bought same date IWM $155.5/$155 bull vert puts for 10c, same premise
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,313
  • Jan 16, 2018 1:23pm Jan 16, 2018 1:23pm
I had NVDA calendar calls @ $215 - Jan26/Feb2 - in that for 40c out for a buck & a quarter today on NVDA pulling back - wisht I'da held a little if it slides down to $215 that set woulda made $2
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,314
  • Jan 18, 2018 11:39am Jan 18, 2018 11:39am
had IBM Jan19/26 $165 calendar calls - ER is today 1/18 - trade plan was to catch an iv rise right into the ER day and close. Got the rush and took the cash, in for 18c out for 45c. Was lookin lots better a day ago but the fukker jumped from $164 to $169 overnight and pushed me out on the end of the p/l swell. Still not bad, always cool when trades behave like they spose to.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,315
  • Jan 19, 2018 12:28am Jan 19, 2018 12:28am
hey Rufus, I didn't know you checked in on this thread - are you trading options these days? post a trade sometime if ye are.....plenty o' room in here.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,316
  • Jan 19, 2018 8:06am Jan 19, 2018 8:06am
Quoting The Fool
hey Rufus, I didn't know you checked in on this thread - are you trading options these days? post a trade sometime if ye are.....plenty o' room in here.....

I have been reading your thread for some time now. Occasionally throwing an option on the SPY chart. Used to do stock and futures options. I will be getting back into more options soon.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #15,317
  • Jan 19, 2018 2:04pm Jan 19, 2018 2:04pm
Quoting The Fool
had IBM Jan19/26 $165 calendar calls - ER is today 1/18 - trade plan was to catch an iv rise right into the ER day and close. Got the rush and took the cash, in for 18c out for 45c. Was lookin lots better a day ago but the fukker jumped from $164 to $169 overnight and pushed me out on the end of the p/l swell. Still not bad, always cool when trades behave like they spose to.
drop in IBM - is it a buy opp? My calendar worth about 55c or so, so I didn't miss much closing pre-ER.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,318
  • Jan 19, 2018 6:57pm Jan 19, 2018 6:57pm
the old earnings pump a dump
Attached Image (click to enlarge)
Click to Enlarge Name: ibm.JPG Size: 73 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,319
  • Jan 29, 2018 6:24pm Jan 29, 2018 6:24pm
was fishing a vol spike at the late Jan FOMC, used a Jan26/Feb2 UVXY call calendar @ $12 - paid 24c for it on 1/19 - it was worth about 35c on last Friday expiry but i held it all for the gipper. Feb2 calls worth >40c today....is it even possible for the spoos to print consecutive daily red candles anymore? Anyway, I might have to sell some if I see a double maņana, hold the rest for something big post-FOMC...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,320
  • Jan 30, 2018 8:43am Jan 30, 2018 8:43am
nother trade I set up for a FOMC slide is a tight DIA put fly - Feb2 $262/260/258....looking better this morning with continued red in the index futures.....IN FOR 8c a perfect finish Friday could be worth 50c net
Attached Image (click to enlarge)
Click to Enlarge Name: 2018-01-30_0643DIA.png Size: 77 KB
"If The Fool persists in his Folly he will become wise." - William Blake
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