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  • #16,261
  • Nov 7, 2018 11:44am Nov 7, 2018 11:44am
That's a nice little chunk of money. Good job, TF!...
  • #16,262
  • Nov 7, 2018 4:35pm Nov 7, 2018 4:35pm
Quoting moneymaker2
That's a nice little chunk of money. Good job, TF!...
Need to take it off tomorrow, best will be if the spoos sits still b4 the FOMC - I have a $2 tp but I will be happy with $1.50, we'll see.

Except for longer dated EWZ spreads, I am getting pretty flat.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,263
  • Nov 8, 2018 6:43am Nov 8, 2018 6:43am
I'm considering buying TSLA call options $360 Nov 16 exp, will wait to see when market open for price, it closed at $5.86 Yesterday so hoping in be cheaper today

current TSLA price

Tesla, Inc. (TSLA)
NasdaqGS - NasdaqGS Real-time price. Currency in USD
Add to watchlist
348.16+7.10 (+2.08%)
At close: 7 November 4:00PM EST
347.85 -0.31 (-0.09%)
Pre-market: 7:40AM EST
  • #16,264
  • Nov 8, 2018 7:14am Nov 8, 2018 7:14am
Quoting Cecil Gee
{quote} i'll be closing the above trade later today, looking to close anywhere near 280 in SPY IF i can pre market price is at 278.11, I actually got in at $1.26. Yesterdays closing price for the options was 2.32 that was the last traded price. SPDR S&P 500 ETF (SPY) NYSEArca - Nasdaq Real-time price. Currency in USD Add to watchlist Quote lookup 275.11+1.72 (+0.63%) At close: 6 November 4:00PM EST 278.11 +2.99 (1.09%) Pre-market: 5:20AM EST
closed the SPY option trade yesterday at $4.32, went as high as $5.76 probably go even higher. NVDA trade I took a loss of 82c by the time I closed that one. Overall positive
  • #16,265
  • Nov 8, 2018 10:19am Nov 8, 2018 10:19am
Quoting The Fool
I have Nov16/19 SPXW 2825 calendar calls, cost me 45c, worth 95c now.....holding
cash out at $1.75, >3x better safe than sorry ahead of FOMC
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,266
  • Nov 8, 2018 1:07pm Nov 8, 2018 1:07pm
I bought a Nov16/19 SPXW put diagonal, 2695/2690, for 50c. I am playing both ends of the market and I don't have a strong conviction for what will happen near term. I had thought we would rally into Dec and fall hard in Q1 '19, but who tf knows. A 50c spread on SPX is like a nickel spread on SPY....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,267
  • Nov 9, 2018 1:33am Nov 9, 2018 1:33am
Quoting The Fool
I am playing both ends of the market....
Not gonna risk much on bull moves. I look for near risk free trades when I have no clue and so, if I am wrong directionally, at least I don't lose much.

Combo below might be tough to fill but it will fill low and as shown risks a nickel to make near $3.00

with asian stocks selling off and /es in the red overnight I will be waiting on entries...
Attached Image (click to enlarge)
Click to Enlarge Name: 2018-11-08_2258SPXX.png Size: 285 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,268
  • Nov 9, 2018 8:01am Nov 9, 2018 8:01am
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
Well said, buddy
  • #16,269
  • Nov 9, 2018 8:11am Nov 9, 2018 8:11am
Quoting UlliC
Well said, buddy
I get great finishes on time spreads and usually take a big payout on expiry day. Trades are set up to run out into the long options following safe expiry of front short, but usually I don't get there. A high class problem, I guess.

However, this is less true when I have set up something with lots of time. In the EWZ call spreads I described above - I have Nov16/Dec and Nov16/Jan. With EWZ sputtering below $41, I will get a chance to let those run & prolly sell another leg against the long dated calls.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,270
  • Nov 9, 2018 8:16am Nov 9, 2018 8:16am
Quoting The Fool
I bought a Nov16/19 SPXW put diagonal, 2695/2690, for 50c. I am playing both ends of the market and I don't have a strong conviction for what will happen near term....
...not seeing this post FOMC dip following thru much so watching this & may take off for small gain b4 the long weekend.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,271
  • Nov 9, 2018 8:52am Nov 9, 2018 8:52am
Not much going on in the overbought/oversold arena right now. Several are headed towards giving a down indication in a few days, but nothing worthwhile right now.
  • #16,272
  • Nov 9, 2018 3:38pm Nov 9, 2018 3:38pm
Quoting The Fool
I bought a Nov16/19 SPXW put diagonal, 2695/2690, for 50c. I am playing both ends of the market and I don't have a strong conviction for what will happen near term. I had thought we would rally into Dec and fall hard in Q1 '19, but who tf knows. A 50c spread on SPX is like a nickel spread on SPY....
worth >$1.00 at the close, holding, put a $2 tp on it but it might get >$3 with a good finish next week
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,273
  • Nov 9, 2018 6:32pm Nov 9, 2018 6:32pm
Quoting moneymaker2
Not much going on in the overbought/oversold arena right now.
Maybe so. Or maybe the whole enchilada is overbought? If the market's gonna crap its pants every time the Fed meets now (there will be a presser at every FOMC meeting staring in 2019) then maybe we are topping? If you had $500 billion aum, would you rather take sure thing bonds returning 3.5%, or take a chance on 10% betting on the indices?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,274
  • Nov 9, 2018 11:27pm Nov 9, 2018 11:27pm
I suppose overbought/oversold depends on your point of reference. Since I only use daily and weekly charts for what I do, I naturally see those conditions materialize and work themselves out in a shorter amount of time than someone looking on a monthly or quarterly chart. And sometimes that gives initially conflicting info, such as the SPY/OEX/DIA all look like we might have another day or two of downward motion, yet on the weekly chart, they are trending up for another week or two. Granted, both can actually be correct and happen just like the charts say, but it is a much more high confidence trade when one is clearly showing an overbought/oversold condition with the other showing no clear direction or both are clearly showing the same direction. Unfortunately, neither is happening right now....

The good thing about options is you can make money no mater if the market tanks or trends up. In my opinion, a market tanking is a much better market for options than one slowly moving up. I've found it much easier to make money off panic than greed!
  • #16,275
  • Nov 10, 2018 11:30pm Nov 10, 2018 11:30pm
Quoting moneymaker2
The good thing about options is you can make money no mater if the market tanks or trends up. In my opinion, a market tanking is a much better market for options than one slowly moving up. I've found it much easier to make money off panic than greed!
hear, hear. Here's to more volatile markets and sick profits.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,276
  • Edited 4:45pm Nov 12, 2018 12:06pm | Edited 4:45pm
Quoting The Fool
I bought a Nov16/19 SPXW put diagonal, 2695/2690, for 50c. ....
...watching it, the spoos can move too far too fast and this diag can start to lose $, but not worried yet. MaxP I guess somewhere around 2710 at expiry, the spread worth $1.55 now...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,277
  • Nov 12, 2018 4:58pm Nov 12, 2018 4:58pm
I don't buy stocks that often, but look for bargains when it seems the market is correcting. What do you think of GE? If we get a protracted market sell-off, you might see GE drop well under $5, might be worth a gamble on the turnaround. Gonna be too slow for options. Wait for $2-3/share and back up the truck.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,278
  • Nov 12, 2018 6:42pm Nov 12, 2018 6:42pm
I would think if it gets that low, GE will have a new buyer for some of it's assets, like GE Power. Westinghouse would love to get that. So that will affect the stock price, for sure. I've worked with GE Power people before, and some swap from GE to Westinghouse every few years.

But I believe it has enough irons in the fire that it won't die a slow death like Sears did. What hurt it is that this is the second time that dividends have been cut and that they are having some issue projecting earnings for the future.

The daily chart shows it is ready to bounce up, but that bounce may only be $0.25-$0.50/share, so not a killer amount. Options are pretty much useless unless you're willing to take a gamble (Nov30 9 CALL @ $0.15)….even the long term options out to Jan 2021 are going to cost about what the share price is going to be, So buying the stock at $2-3/share is definitely the way to go. But it will take a long time to get back where it was, which is a shame, because GE used to be one of those stocks you bought and held on to it forever...
  • #16,279
  • Nov 13, 2018 1:35pm Nov 13, 2018 1:35pm
money it been a hard slog with SBUX puts - maybe we get some more hot legs down in the broad market to close the week? Good luck anyways.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,280
  • Nov 13, 2018 1:39pm Nov 13, 2018 1:39pm
Quoting The Fool
I bought a Nov16/19 SPXW put diagonal, 2695/2690, for 50c.
Worth $2 now and I am holding and watching. Narrow time spreads like this are dicey and can swing in value hard with big moves, especially so as you get towards expiry. MaxP is over $6 but I am looking for at least half that.
"If The Fool persists in his Folly he will become wise." - William Blake
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