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Let's Trade Options

  • #16,061
  • Oct 22, 2018 9:38am Oct 22, 2018 9:38am
nasdaq coming back strong
  • #16,062
  • Oct 22, 2018 9:42am Oct 22, 2018 9:42am
bought some NVDA 235 calls for 3.40, NVDA bounced back hard from 227 and change back up past 232 a little while ago 232.45 while writing
  • #16,063
  • Oct 22, 2018 9:44am Oct 22, 2018 9:44am
Quoting Cecil Gee
bought some NVDA 235 calls for 3.40, NVDA bounced back hard from 227 and change back up past 232 a little while ago 232.45 while writing
EXP Date 26/10/18 for the calls
  • #16,064
  • Oct 22, 2018 9:49am Oct 22, 2018 9:49am
Quoting Cecil Gee
nasdaq coming back strong
hard bounce on the nasdaq
  • #16,065
  • Oct 22, 2018 9:51am Oct 22, 2018 9:51am
Quoting Cecil Gee
bought some NVDA 235 calls for 3.40, NVDA bounced back hard from 227 and change back up past 232 a little while ago 232.45 while writing

NVIDIA Corporation (NVDA)
NasdaqGS - NasdaqGS Real-time price. Currency in USD
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234.30+5.13 (+2.24%)
As of 10:49AM EDT. Market open.
  • #16,066
  • Oct 22, 2018 9:56am Oct 22, 2018 9:56am
DOW and S/P both bounced well, now its all about the closes later, do they hold or reject again
  • #16,067
  • Oct 22, 2018 10:10am Oct 22, 2018 10:10am
Quoting Cecil Gee
bought some NVDA 235 calls for 3.40, NVDA bounced back hard from 227 and change back up past 232 a little while ago 232.45 while writing
out for a nice little profit

NVDA Oct 2018 235.000 call
OPR - OPR Delayed price. Currency in USD
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5.03+1.38 (+37.81%)
As of 10:44AM EDT. Market open.
  • #16,068
  • Oct 22, 2018 10:18am Oct 22, 2018 10:18am
SPX is trading under its 200 day while the ETF SPY has bounced of its 200 day, not pulling any trigger until the 2 align is the same direction, the close is the key. meanwhile the nasdaq seems to be its own entity
  • #16,069
  • Oct 22, 2018 10:34am Oct 22, 2018 10:34am
Nasdaq needs to close above 7145 later otherwise more tech dumping maybe on its way
  • #16,070
  • Oct 22, 2018 10:46am Oct 22, 2018 10:46am
Quoting relaxtrading
{quote} The problem with indicator that show you oversold/overbought conditions is that they can stay like this for weeks/month so in this case I would probably add to the strategy a reversal pattern on a strong supply/demand area. But if you have some fundamental data to support your trade that can be good too.
No, they really can't. SWK was special in that it was affected twice in the same week by different outside forces, but that very seldom happens.

I don't really see a need for me to alter my strategy, as it has worked very well for me as is over the last 12 years. While there may or may not be any advantage to tweak it a little, I really don't want to put in more If/Then variances. I just like to keep things simple: if my indicators indicate I should buy a PUT, I buy a PUT. If they indicate I should buy a CALL, I buy a CALL.
  • #16,071
  • Oct 22, 2018 11:08am Oct 22, 2018 11:08am
Quoting moneymaker2
{quote} No, they really can't. SWK was special in that it was affected twice in the same week by different outside forces, but that very seldom happens. I don't really see a need for me to alter my strategy, as it has worked very well for me as is over the last 12 years. While there may or may not be any advantage to tweak it a little, I really don't want to put in more If/Then variances. I just like to keep things simple: if my indicators indicate I should buy a PUT, I buy a PUT. If they indicate I should buy a CALL, I buy a CALL.
Of course not, you shoudn't change anything if you consistency make money. Would you explain on detail how is the process that you follow to trigger a trade, please ?

Thanks
  • #16,072
  • Oct 22, 2018 11:15am Oct 22, 2018 11:15am
looking to buy puts in the SPY now prolly 273 Fridays expiation
  • #16,073
  • Edited 7:33pm Oct 22, 2018 12:12pm | Edited 7:33pm
Quoting relaxtrading
{quote} Of course not, you shoudn't change anything if you consistency make money. Would you explain on detail how is the process that you follow to trigger a trade, please ? Thanks
Unfortunately, all I can say is that I look for extremely overbought/oversold levels. I can't give specific indicator details, because unlike currency trading, options typically have a finite number of contracts available at any given price level, and can actually affect trading 100 contracts.

I used to trade with two other guys that used the same method I do and when all three of us converged on one stock option, we could watch price change on Level II option quotes as the orders were filled. The last guy getting his 100 contracts filled would often pay $0.20-$0.30 more than the first guy.
  • #16,074
  • Oct 22, 2018 7:33pm Oct 22, 2018 7:33pm
Well, if premarket futures <50 down, the following should make money:

HD Nov2 182.5 @ $1.40 or better

If the DJ opens lower, I'll hold off from the open to get in at a better price.
  • #16,075
  • Oct 22, 2018 10:28pm Oct 22, 2018 10:28pm
Good job on the NVDA CALLS, Cecil!
  • #16,076
  • Oct 23, 2018 1:55am Oct 23, 2018 1:55am
Quoting moneymaker2
Good job on the NVDA CALLS, Cecil!
thx
  • #16,077
  • Oct 23, 2018 1:57am Oct 23, 2018 1:57am
Quoting Cecil Gee
looking to buy puts in the SPY now prolly 273 Fridays expiation
futures down hard on all major indexes
  • #16,078
  • Oct 23, 2018 2:12am Oct 23, 2018 2:12am
be careful in taking on equities this week as earnings on a lot of big names so its just index trading
  • #16,079
  • Oct 23, 2018 4:23am Oct 23, 2018 4:23am
Quoting Cecil Gee
looking to buy puts in the SPY now prolly 273 Fridays expiation


SPDR S&P 500 ETF (SPY)
NYSEArca - Nasdaq Real-time price. Currency in USD
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275.03-1.22 (-0.44%)
At close: 22 October 4:00PM EDT
270.93 -4.10 (-1.49%)
Pre-market: 5:20AM EDT
  • #16,080
  • Oct 23, 2018 5:38am Oct 23, 2018 5:38am
Quoting Cecil Gee
looking to buy puts in the SPY now prolly 273 Fridays expiation
will be closing the above position somewhere near the open providing I GET FILLED, as I said before careful on equities. Wild swings ahead
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