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Let's Trade Options

  • #16,221
  • Nov 2, 2018 6:41am Nov 2, 2018 6:41am
Quoting The Fool
My 5c debit EWZ Nov2/9 $42 call callie came off at 50c today. If EWZ had not been bouncing up/down I might have held it til Friday. Ihave nickel $43's same dates and I will see if EWZ can rise into better profit on those tomorrow....
fml EWZ is popping again and trades at $42.10 a couple hrs b4 the open. The key to fishing perfect finishes on time spread expiry day is to have good numbers - so you can take off good profits in the day or so b4 and have something left at the end....that and also having the front strikes spread out a little shotgun, such as I have done here with EWZ - the Nov2/Nov9 nickel $43's are gonna pay well also. On those I have also decent numbers and will hold long calls into next week if possible
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,222
  • Nov 2, 2018 7:01am Nov 2, 2018 7:01am
Quoting UlliC
good risk management, decent skills and a lot of luck is the key of making money when trading options
sure, but what is "Luck"? Can it be defined in any rational way? Part of me believes in luck but really I think you make your own luck and that comes from experience. One thing I have learned from experience is when to trade. I don't always have to trade and I can afford to wait to take the best trades. This has been some hard lessons learned because we are coming out of a long spell of dull markets when options trading generally sucked and I lost money trading when I would have been better off sitting on my hands. Trading when trading is good and staying on top of risk are keys for me....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,223
  • Nov 2, 2018 7:59am Nov 2, 2018 7:59am
NFP beat, good news = bad news, fear the Fed, sos, we'll see if enough to stall the rally
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,224
  • Nov 2, 2018 8:37am Nov 2, 2018 8:37am
lotto for ya, it has options, but the spreads are nuts....Jan $24 calls are 15c
Attached Image (click to enlarge)
Click to Enlarge Name: 2018-11-02_0628ecyt.png Size: 191 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,225
  • Nov 2, 2018 8:53am Nov 2, 2018 8:53am
money do you use a screener to look for ob/os stocks?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,226
  • Nov 2, 2018 9:32am Nov 2, 2018 9:32am
Quoting UlliC
good risk management, decent skills and a lot of luck is the key of making money when trading options
While there is always a 'luck' presence in trading, I think a skill set should be number one, then risk management. You can have the perfect risk management method, but if you don't have the skills to make good trades, you will still lose.

Take me, for example: If I used the same risk management style as The Fool, if I attempted to trade like him right now, I would lose money. I know options, I know strategies and I know the basics of how he trades. My skills are decent in his area but my skills are still WAYYYY below his, and my expectation of success in his trading style would be very low. So, in my opinion, skill trumps everything....
  • #16,227
  • Nov 2, 2018 9:43am Nov 2, 2018 9:43am
Quoting The Fool
money do you use a screener to look for ob/os stocks?
No, I use the Omnitrader charting program end of day data. It has a whole bunch of bells and whistles with it that I don't use. I just like the charts and I bought an old version off ebay years ago for super cheap and upgraded it to 2018 last year since it no longer ran on windows 10. I would use a free charting program off the web but this allows me to customize watchlists pretty easily, and I like that.

I do use Stockfetcher.com every quarter to select stocks with my criteria (high average daily volume, high dollar, optionable, etc.), load them on Omnitrader and go through the charts and cull the ones out that aren't moving enough or do not move a lot as far as money goes. Then I check the options on each and cull those that have super wide gaps in the bid/ask or are just really expensive. Then, after all that, I have my list of stocks I look at for the quarter and chose trades based on overbought/oversold conditions. A few stocks change every quarter, but probably 80% stay the same.
  • #16,228
  • Nov 2, 2018 9:54am Nov 2, 2018 9:54am
I used to use the free FinViz screener but it has gotten lousy with popups
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,229
  • Edited 10:11am Nov 2, 2018 9:58am | Edited 10:11am
Quoting The Fool
lotto for ya, it has options, but the spreads are nuts....Jan $24 calls are 15c {image}
ECYT looks like it might drift down eventually, but over the last 12 trading days, the highest delta between low and high for the day has only been $0.28, and my chart is up in the air, though hinting at downward motions, so I wouldn't touch it short term.

Having said that, the following looks like it would be worth the chance on a purely speculative play:

ECYT Jan19 23 PUT @ $0.20 or better

I've never seen anything like these options. At 9:35 (with a current stock price of ~$23.55) a Jan19 31 PUT sold for $9.80, but at 10:42, a Jan19 23 PUT sold for $0.15.....I've never seen out of the money options selling for more than in the money options.....who'd a thunked?
  • #16,230
  • Nov 2, 2018 10:21am Nov 2, 2018 10:21am
Took a trade not long ago on NVDA 205 put and 9 Nov exp a little far out for $3.65. I got in at 216.11, not expecting to get in the money bot a pullback to 210 on the underly should increase the option along as it happens early next week other my premium will suffer

price now below

NVIDIA Corporation (NVDA)
NasdaqGS - NasdaqGS Real-time price. Currency in USD
Add to watchlist
215.29-2.82 (-1.29%)
As of 11:19AM EDT. Market open.
  • #16,231
  • Nov 2, 2018 2:39pm Nov 2, 2018 2:39pm
Quoting Cecil Gee
Took a trade not long ago on NVDA 205 put and 9 Nov exp a little far out for $3.65. I got in at 216.11, not expecting to get in the money bot a pullback to 210 on the underly should increase the option along as it happens early next week other my premium will suffer price now below NVIDIA Corporation (NVDA) NasdaqGS - NasdaqGS Real-time price. Currency in USD Add to watchlist 215.29-2.82 (-1.29%) As of 11:19AM EDT. Market open.
closed a little bit ago at $4.85 ,it went as high as $5.65, NVDA went as low as 210.21

NVDA Nov 2018 205.000 put
OPR - OPR Delayed price. Currency in USD
Add to watchlist
4.85+1.40 (+40.58%)
As of 3:08PM EDT. Market open.
  • #16,232
  • Nov 2, 2018 3:01pm Nov 2, 2018 3:01pm
Quoting Cecil Gee
closed a little bit ago at $4.85
a win's a win, good job Cecil, have a great weekend
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,233
  • Nov 2, 2018 3:05pm Nov 2, 2018 3:05pm
Quoting moneymaker2
I've never seen anything like these options. At 9:35 (with a current stock price of ~$23.55) a Jan19 31 PUT sold for $9.80, but at 10:42, a Jan19 23 PUT sold for $0.15.....I've never seen out of the money options selling for more than in the money options.....who'd a thunked?
normally as anybody can see i just trade really liquid stuff. But it can be worthwhile looking at names with options with really thin liquidity - sometimes when somebody throws big positions into those chains, it will squirrel up everything and you can get into some interesting trades with very high r:r. Maybe worry about getting out where you think you might, so, as always, watch your ass...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,234
  • Nov 2, 2018 3:22pm Nov 2, 2018 3:22pm
Quoting The Fool
{quote} fml EWZ is popping again and trades at $42.10 a couple hrs b4 the open. The key to fishing perfect finishes on time spread expiry day is to have good numbers - so you can take off good profits in the day or so b4 and have something left at the end....that and also having the front strikes spread out a little shotgun, such as I have done here with EWZ - the Nov2/Nov9 nickel $43's are gonna pay well also. On those I have also decent numbers and will hold long calls into next week if possible
Pulled off all the $43's at 40c, near 8bag, I usually cave to money in the bank. Anyway I have call diagonals - Nov16/Dec21 $43/44 (5c debit) and Nov16/Jan18 $45/46 (9c debit) - to look at in the coming weeks/months...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,235
  • Nov 2, 2018 3:42pm Nov 2, 2018 3:42pm
re: ECYT, options only go out to April 2019 (too bad) - but you can do a $22 put / $24 call Apr strangle for 30-40c....with spreads as squirrelly as they are you might need a $3 move to actually make money on it
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,236
  • Nov 2, 2018 4:15pm Nov 2, 2018 4:15pm
Quoting The Fool
{quote}a win's a win, good job Cecil, have a great weekend
thx man, you too
  • #16,237
  • Nov 3, 2018 1:51am Nov 3, 2018 1:51am
More from the screener:

Exas
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,238
  • Nov 5, 2018 5:40am Nov 5, 2018 5:40am
New week and new trades, i'm looking for bullish trades this week after last weeks weekly candles on many stocks I watch closing the same way, Futures on the DOW i has just turned positive a short time ago (as I write its just gone negative) but i'm still bullish.I have a small position on the futures at 25,242 with a stop just under 25,200 on my spread bet account real time price is 25,243 so ill see what happens there.

I'm hoping to get into SPY 276 CALL OPTIONS for around $1.30 if possible with NOV 9 exp if market allows me too

SPDR S&P 500 ETF (SPY)
NYSEArca - Nasdaq Real-time price. Currency in USD
Add to watchlist
271.89-1.62 (-0.59%)
At close: 2 November 4:00PM EDT
272.11 +0.22 (0.08%)
Pre-market: 6:39AM EST
  • #16,239
  • Nov 5, 2018 6:16am Nov 5, 2018 6:16am
Quoting Cecil Gee
New week and new trades, i'm looking for bullish trades this week after last weeks weekly candles on many stocks I watch closing the same way, Futures on the DOW i has just turned positive a short time ago (as I write its just gone negative) but i'm still bullish.I have a small position on the futures at 25,242 with a stop just under 25,200 on my spread bet account real time price is 25,243 so ill see what happens there. I'm hoping to get into SPY 276 CALL OPTIONS for around $1.30 if possible with NOV 9 exp if market...
Dow 30 futures are up to 25,275 now, hopefully as it moves higher so will my stop to track, think I may have to pay more for the options when the markets open, we shall see
  • #16,240
  • Nov 5, 2018 9:14am Nov 5, 2018 9:14am
I hope you do well. I'm sitting out until Wednesday. I figure the midterm is gonna have some effect on the market no matter what happens....
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