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Let's Trade Options

  • #16,161
  • Oct 29, 2018 12:08pm Oct 29, 2018 12:08pm
Quoting Cecil Gee
{quote} i'm watching carefully, have already closed half of my puts for a small profit
bounced a bit SPY will see what this half hour candle does a close below 267.10 will keep this bear in tact for a while
  • #16,162
  • Oct 29, 2018 12:31pm Oct 29, 2018 12:31pm
Quoting Cecil Gee
{quote} bounced a bit SPY will see what this half hour candle does a close below 267.10 will keep this bear in tact for a while
well it closed under 267.10 so still in for now

266.87+1.54 (+0.58%)
As of 1:30PM EDT. Market open.
  • #16,163
  • Oct 29, 2018 12:58pm Oct 29, 2018 12:58pm
Quoting moneymaker2
{quote} It needs to do either of those anytime between now and Nov16 or actually on Nov16?
Actually I am just summarizing and I have EWZ time spreads out to Jan monthly, but most everything was pinned to either Nov2 or Nov16 front month. I had thought most of the vol would be gone after the runoff election 10/28 so we'll see if that's the case...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,164
  • Oct 29, 2018 1:16pm Oct 29, 2018 1:16pm
Quoting Cecil Gee
bought some puts earlier in SPY 265 SPY puts NOV2 exp for $1.82 when price was above $268 now trading above 267 SPYW02183265000 Last:1.82 Change:-1.61 -46.94% Strike:265.00
remainder doing well now

SPDR S&P 500 ETF (SPY)
NYSEArca - Nasdaq Real-time price. Currency in USD
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265.63+0.30 (+0.11%)
As of 2:14PM EDT. Market open.
  • #16,165
  • Edited 2:57pm Oct 29, 2018 1:55pm | Edited 2:57pm
Well, I think CAT's gonna make some more money a little farther out, so I got some:

CAT Nov23 119 CALL @ $2.45

Usually like to get into a trade right before closing, but the weekly chart indicates ripe for a jump up and won't be much change in option price (hopefully) between now and the close.
  • #16,166
  • Oct 29, 2018 2:44pm Oct 29, 2018 2:44pm
I have very little long (and even that is months out) and waiting to see some consolidation after what is now nearly a 12% October drop, not seeing bottom yet
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,167
  • Oct 29, 2018 2:48pm Oct 29, 2018 2:48pm
Well, added some more a little farther out at a closer strike price:

SWK Nov18 110 CALL @ $3.00

I figure the Nov18 CALLS will make the money back that most of the Nov2 CALLS will lose with some profit left over.
  • #16,168
  • Oct 29, 2018 3:42pm Oct 29, 2018 3:42pm
Quoting Cecil Gee
bought some puts earlier in SPY 265 SPY puts NOV2 exp for $1.82 when price was above $268 now trading above 267 SPYW02183265000 Last:1.82 Change:-1.61 -46.94% Strike:265.00
closed the rest at 262.58
  • #16,169
  • Oct 29, 2018 3:54pm Oct 29, 2018 3:54pm
Quoting moneymaker2
Well, I think CAT's gonna make some more money a little farther out, so I got some: CAT Nov23 119 CALL @ $2.45 Usually like to get into a trade right before closing, but the weekly chart indicates ripe for a jump up and won't be much change in option price (hopefully) between now and the close.
careful with that CAT trade it looks to have more downside risk lower tf seem to indicate that
  • #16,170
  • Oct 30, 2018 10:33am Oct 30, 2018 10:33am
Quoting Cecil Gee
{quote} careful with that CAT trade it looks to have more downside risk lower tf seem to indicate that
I take it back momeymaker, if we close green with a decent bull candle then that CAT trader may turn into a really good winner all depends on index futures on where they close today
  • #16,171
  • Oct 30, 2018 10:43am Oct 30, 2018 10:43am
Bought SPY 267 calls. I maybe early. Paid $1.90

SPDR S&P 500 ETF (SPY)
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264.77+0.91 (+0.34%)
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  • #16,172
  • Oct 30, 2018 10:45am Oct 30, 2018 10:45am
Quoting Cecil Gee
Bought SPY 267 calls. I maybe early. Paid $1.90 SPDR S&P 500 ETF (SPY) NYSEArca - NYSEArca Delayed price. Currency in USD Add to watchlist 264.77+0.91 (+0.34%) As of 11:22AM EDT. Market open.
forgot to mention NOV2 EXP the above trade
  • #16,173
  • Oct 30, 2018 10:52am Oct 30, 2018 10:52am
Quoting Cecil Gee
{quote} I take it back momeymaker, if we close green with a decent bull candle then that CAT trader may turn into a really good winner all depends on index futures on where they close today
these index futures are on fire today, a strong bull candle close today could result in an even bigger bull candle tomorrow
  • #16,174
  • Oct 30, 2018 11:07am Oct 30, 2018 11:07am
Quoting Cecil Gee
Bought SPY 267 calls. I maybe early. Paid $1.90 SPDR S&P 500 ETF (SPY) NYSEArca - NYSEArca Delayed price. Currency in USD Add to watchlist 264.77+0.91 (+0.34%) As of 11:22AM EDT. Market open.
doing ok so far

SPDR S&P 500 ETF (SPY)
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266.73+2.87 (+1.09%)
As of 11:51AM EDT. Market open.
  • #16,175
  • Oct 30, 2018 11:14am Oct 30, 2018 11:14am
Quoting Cecil Gee
Bought SPY 267 calls. I maybe early. Paid $1.90 SPDR S&P 500 ETF (SPY) NYSEArca - NYSEArca Delayed price. Currency in USD Add to watchlist 264.77+0.91 (+0.34%) As of 11:22AM EDT. Market open.
closed at 3.88

Call Option for SPDR S&P 500 ETF Trust
SPYK07183267000
Last : 3.88
  • #16,176
  • Oct 30, 2018 11:25am Oct 30, 2018 11:25am
Good job, Cecil Gee!!
  • #16,177
  • Edited 2:46pm Oct 30, 2018 11:52am | Edited 2:46pm
Well, time to clean up some stuff:

SWK Nov2 126 CALL down to $0 from $1.95 -- still technically holding, so if a miracle happens, might come off zero

SWK Nov2 123 CALL down to $0 from $1.80 -- still technically holding, so if a miracle happens, might come off zero

SWK Nov2 117 CALL down to $0.60 from $3.00 -- out of trade


Still have the following SWK trades open:

SWK Nov18 110 CALL @ $3.00

SWK Nov18 112 CALL @ $2.65

These need to collectively go $6.15 ($1.95 + $1.80 + $2.40) above their purchase prices to break even on SWK trades, anything higher is profit. As of this writing, they are collectively $4.35 out of the $6.15. I would expect SWK to be around 117 by the end of next week or sooner based on weekly chart.


Another open one is:

CAT Nov23 119 CALL @ $2.45
  • #16,178
  • Oct 30, 2018 12:13pm Oct 30, 2018 12:13pm
Quoting moneymaker2
Good job, Cecil Gee!!
Thx MM, S&P futures falling back. Not looking good for Bulls
  • #16,179
  • Oct 30, 2018 12:18pm Oct 30, 2018 12:18pm
Quoting Cecil Gee
{quote} these index futures are on fire today, a strong bull candle close today could result in an even bigger bull candle tomorrow
Does not look good for any kind of BULL candles now, will wait to see near the close whether I buy puts or calls
  • #16,180
  • Oct 30, 2018 1:54pm Oct 30, 2018 1:54pm
I'm going for it again bought SPY 268 calls for NOV2, EXP

SPDR S&P 500 ETF (SPY)
NYSEArca - Nasdaq Real-time price. Currency in USD
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