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Let's Trade Options

  • #16,021
  • Oct 17, 2018 3:16pm Oct 17, 2018 3:16pm
I have SPY calendar calls @ $282 - Oct19/Oct22 - bot for 11c last week, need a little more grind up to get me something good - worth a little over 2x now
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,022
  • Edited Oct 18, 2018 5:16pm Oct 17, 2018 5:23pm | Edited Oct 18, 2018 5:16pm
Well, providing tomorrow's futures indicate up or neutral (<50 down), here are some that should make some money:

HES Oct26 64.5 CALL @ $1.70 or better

OXY Oct26 72.5 CALL @ $1.45 or better

SWK Oct26 127 CALL @ $1.95 or better

I'll be watching SWK premarket as it was hammered due to the downgrades of Home Depot and Lowes today, so if premarket is showing more decline, I'll just get in a little later in the day for a cheaper price.
  • #16,023
  • Oct 18, 2018 6:52am Oct 18, 2018 6:52am
Well, futures were too negative to get in to any of the above, but maybe tomorrow will be better? We will check again tonight.
  • #16,024
  • Oct 18, 2018 7:46am Oct 18, 2018 7:46am
Quoting The Fool
I have SPY calendar calls @ $282 - Oct19/Oct22 - bot for 11c last week, need a little more grind up to get me something good - worth a little over 2x now {image}
Hi
Why are you having so little room between expiration Oct19 - Oct 22?

Thanks
  • #16,025
  • Oct 18, 2018 8:49am Oct 18, 2018 8:49am
Quoting The Fool
hey good to see old friend Cecil Gee is still around and trading. We've had some good traders come thru here over the years - StrayDog, Wulfgar, pipple, etc - where are they now....?
yes still trading, glad to see you still carrying the torch for option traders. SPY isn't working out for me. will wait to see if it bounces from here 276.81 and closes above 278 if it does I shall reload for tomorrow or next weeks calls. Hope your well
  • #16,026
  • Oct 18, 2018 9:35am Oct 18, 2018 9:35am
FEW MORE TRADES for today CLOSE

1x SOLD PYPL CALL81 OCT19 2018 >1.14 $ IV 120. DELTA 30
1x SOLD PYPL CALL80 OCT19 2018 >1.41 $ IV 120. DELTA 35
  • #16,027
  • Oct 18, 2018 9:48am Oct 18, 2018 9:48am
SOLD ANET NOV02 275CALL for 1.2 DELTA 9 IV=43 and droping from 46
Expecting stock to head south. 245 level was strongly rejected after a nice rally so let's see if the stock cold down a little or drop like crazy...
  • #16,028
  • Oct 18, 2018 9:59am Oct 18, 2018 9:59am
1x SOLD CLVS CALL32 OCT19 2018 >1.30 $ IV =281 . DELTA 35
  • #16,029
  • Oct 18, 2018 10:12am Oct 18, 2018 10:12am
Quoting relaxtrading
{quote} Hi Why are you having so little room between expiration Oct19 - Oct 22? Thanks
because I can.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,030
  • Oct 18, 2018 10:13am Oct 18, 2018 10:13am
Quoting The Fool
I have SPY calendar calls @ $282 - Oct19/Oct22 - bot for 11c last week, need a little more grind up to get me something good - worth a little over 2x now
big moves gotta love em but this calendar will likely be worthless Friday - but I can hang in for better luck with the long calls on Monday
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,031
  • Oct 18, 2018 10:20am Oct 18, 2018 10:20am
Quoting The Fool
{quote} because I can.
Sorry if my question did not look polite. I just wanted to know the technical reason behind your decision to open that trade.

Thanks!
  • #16,032
  • Oct 18, 2018 10:35am Oct 18, 2018 10:35am
Quoting relaxtrading
Sorry if my question did not look polite. I just wanted to know the technical reason behind your decision to open that trade. Thanks!
nothing wrong with having lots of time in your time spread, but you pay for that. Nice thing about SPY is it has 3 weekly expiries, so you can sharp shoot your spreads to try to catch near term moves, if you can do that...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,033
  • Oct 18, 2018 10:52am Oct 18, 2018 10:52am
Quoting Cecil Gee
yes still trading, glad to see you still carrying the torch for option traders. SPY isn't working out for me. will wait to see if it bounces from here 276.81 and closes above 278 if it does I shall reload for tomorrow or next weeks calls. Hope your well
I'm doing great Cecil & hope you are the same. AT least you only paid a nickel, right?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,034
  • Oct 18, 2018 6:49pm Oct 18, 2018 6:49pm
OK, let's try this again. Extending the date out until November should make these all profitable:


HES Nov2 64.5 CALL @ $2.05 or better

OXY Nov2 72 CALL @ $1.55 or better

SWK Nov2 126 CALL @ $1.85 or better

As long as premarket futures show <75 down, these will make some money. If futures are down, I'll just wait until after the open and get them cheaper rather than buy at open.
  • #16,035
  • Oct 18, 2018 7:19pm Oct 18, 2018 7:19pm
Quoting relaxtrading
FEW MORE TRADES for today CLOSE 1x SOLD PYPL CALL81 OCT19 2018 >1.14 $ IV 120. DELTA 30 1x SOLD PYPL CALL80 OCT19 2018 >1.41 $ IV 120. DELTA 35
Relax, best keep an eye on these to make sure you lock in a profit. The weekly chart shows it ready for a bounce up and the next stop should be around the 5EMA, which is at 82 right now, but that will drop after tomorrow rounds out the weekly candle. With the daily range of $4+, you don't want to be surprised.

Just a heads up on something I saw that might help you make some $$.
  • #16,036
  • Oct 18, 2018 8:43pm Oct 18, 2018 8:43pm
SPY iv's around 20, not bad...maybe look for an opp to sell put spreads....also when iv's are jacked you might find some deals buying call verticals...the Dec vert below a bet that the SnP will take a shot at 3,000 in a year end rally...risk 45c to net $4.50
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,037
  • Edited 5:16am Oct 19, 2018 1:52am | Edited 5:16am
Quoting moneymaker2
{quote} Relax, best keep an eye on these to make sure you lock in a profit. The weekly chart shows it ready for a bounce up and the next stop should be around the 5EMA, which is at 82 right now, but that will drop after tomorrow rounds out the weekly candle. With the daily range of $4+, you don't want to be surprised. Just a heads up on something I saw that might help you make some $$.
Money

If you are refering to CVS , my personal opinion is that 75 level still valid as resistance and so far it doesn't seems to have the strength to surpass it. Since DEC 2016 the level 75 have been used as support/resistance many time and the last two weeks it have showed that still a valid level. Even though is the stock manage to surpass it, the next resistance (78-80) is a 2-3 weeks very solid Supply area and in that case price might go back again at some point to 75 as support .. anyway pure speculation..

https://www.tradingview.com/x/RPcq8CZl/
  • #16,038
  • Oct 19, 2018 9:03am Oct 19, 2018 9:03am
Quoting relaxtrading
{quote} Money If you are refering to CVS ….
No, I was referencing the $80/$81 PYPL CALLS you sold for next week. But it's a moot point since it hit $86 this morning. That sucks!

Unfortunately, that's why Level 4 option traders have to have so much money in their account to sell naked CALLS.
  • #16,039
  • Oct 19, 2018 9:54am Oct 19, 2018 9:54am
Quoting moneymaker2
HES Nov2 64.5 CALL @ $2.05 or better OXY Nov2 72 CALL @ $1.55 or better SWK Nov2 126 CALL @ $1.85 or better

Well, took advantage of the pop with:

HES Nov2 64.5 CALL up to $3.05 from $2.05

OXY Nov2 72 CALL up to $2.40 from $1.55

SWK Nov2 126 CALL @ $1.80 still open

SWK is being stubborn, but still a good play. So before the end of the day, I'll also be looking at the Nov2 123 CALL @ $1.95 or better.
  • #16,040
  • Oct 19, 2018 10:14am Oct 19, 2018 10:14am
Quoting moneymaker2
{quote} No, I was referencing the $80/$81 PYPL CALLS you sold for next week. But it's a moot point since it hit $86 this morning. That sucks! Unfortunately, that's why Level 4 option traders have to have so much money in their account to sell naked CALLS.
Money

PYPL exp today !
Unfortunatelly yesterday at the end of the session somebody needed to dump some toxic assets and they pull the price Up big time. So on premarket I was on 82 already. I've been the whole day mannaging this negative trade. I had to protect the postition to stop the loss at 85 what was as usually a pain. Right now I am still playing SHORT expecting that this big accounts already dumped all the crap and hopefully they will let the price drop to the origin... still 3 hour so let see ..
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