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Let's Trade Options

  • #16,321
  • Nov 20, 2018 12:53pm Nov 20, 2018 12:53pm
Quoting moneymaker2
Well, I got out of the Nov23 SBUX 65 PUTs this morning at $0.19 from an average of just over $0.91, which is a bummer. Still have SBUX Dec7 67.5 and Nov30 66.5 which should make up for the loss. I just hate wasting all the time on a breakeven trade. I would have thought SBUX should have moved a little faster than it did based on the charts. The weekly charts are something I've just added to my arsenal and may need a little tweaking....
I've gone in again too today $67.50 puts Nov 23 exp for 34c over an hour ago, SBUX currently trading at price below

Starbucks Corporation (SBUX)
NasdaqGS - NasdaqGS Real-time price. Currency in USD
Add to watchlist
67.21-0.71 (-1.04%)
As of 3:52PM EST. Market open.
  • #16,322
  • Nov 20, 2018 1:41pm Nov 20, 2018 1:41pm
Expiration week trades can lose money very quickly, so just remember tomorrow is basically the last trading day. Markets are closed Thursday and only open until 1:00 p.m. Friday (which is typically a very weak trading day), so you'll need to watch that closely to get out at a profit.
  • #16,323
  • Nov 20, 2018 4:50pm Nov 20, 2018 4:50pm
Quoting moneymaker2
Well, I got out of the Nov23 SBUX 65 PUTs this morning at $0.19 from an average of just over $0.91, which is a bummer. Still have SBUX Dec7 67.5 and Nov30 66.5 which should make up for the loss.
...you might consider selling some puts against all those long puts? The Nov30 $65 puts could sell for $0.45 tomorrow - you could pocket that credit if SBUX turns back northbound and if it doesn't get all the way there by next Friday....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,324
  • Nov 20, 2018 4:57pm Nov 20, 2018 4:57pm
Quoting The Fool
filled a Nov23 $277.5/280/282.5 call fly for 25c instead
worthless
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,325
  • Nov 20, 2018 5:15pm Nov 20, 2018 5:15pm
Quoting The Fool
yeah SPY $265 looks like it could be hard but there's a lot of rebalancing going on and I don't think TA is going to cover it that well. Seems clear we are in rates-based trading mode and we could see sideways to down-trend all the way til the Dec FOMC on 12/19.
....so much for SPY $265, whacked today. I have not had anything substantial short the market to catch these moves. I have blown some change bottom picking but mostly just been a watcher.

Plausible scenario for a bounce is a FOMC no-call on the Dec rate hike, but that's a month away.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,326
  • Edited 7:13pm Nov 20, 2018 6:08pm | Edited 7:13pm
Quoting The Fool
{quote}...you might consider selling some puts against all those long puts? The Nov30 $65 puts could sell for $0.45 tomorrow - you could pocket that credit if SBUX turns back northbound and if it doesn't get all the way there by next Friday....
Funny you should mention that, because after looking at my old options training stuff (and I did check out Tastytrades), I have actually been paper trading that type scenario since Monday (using Fridays option prices) with SBUX and other stocks (GS, LULU, and STZ).

I might just do that tomorrow, depending on how it looks now that I have the indicators dialed in properly again.

Thanks for the heads-up, TF!!
  • #16,327
  • Nov 21, 2018 6:57am Nov 21, 2018 6:57am
Picked up some:

WMT Dec7 94 CALL @ $1.60
  • #16,328
  • Nov 21, 2018 9:52am Nov 21, 2018 9:52am
Quoting The Fool
filled a QQQ Nov30 broke wing call fly $166/168/171 for 8c....risk 8c to net out up to 55c, will look for 30c net or better next week
...just looking for tech stocks to claw back some of their losses by this time next week - made a start today. QQQ closed last Friday at $168, if it is there by next Thurs-Fri, I will catch at least 4 bag
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,329
  • Nov 21, 2018 10:00am Nov 21, 2018 10:00am
cherry picks

https://s3.amazonaws.com/cherry-pick...eid=9cf7649fb4
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,330
  • Nov 21, 2018 10:42am Nov 21, 2018 10:42am
People taking off half a day to get the jump on Thanksgiving...movement in the market slowing down to a crawl.....probably be the same way Friday, too....
  • #16,331
  • Nov 21, 2018 11:24am Nov 21, 2018 11:24am
yep. stock exchanges close early Friday also - Sometimes these dead stretches can be attractive spots to bank some theta, but I am looking at selling SPY or SPX put spreads out to Jan exp and I don't see enough juice to be worth the risk
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,332
  • Edited 12:26pm Nov 21, 2018 11:57am | Edited 12:26pm
Quoting The Fool
I am looking at selling SPY or SPX put spreads out to Jan exp and I don't see enough juice to be worth the risk
...risking $3.00 to make 60c not my meat, I would rather risk 3c to make 100 bag any day

Looking at a post FOMC rally to close the year - filled a Dec28/Dec31 SPY call diag @ $285/286 for 3c

...to protect it trying fill a SPY call bull vert Dec28 $282/283 for 10c

so, risking 13c to make a bunch

....filled both legs equal numbers
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,333
  • Nov 21, 2018 3:05pm Nov 21, 2018 3:05pm
Attached Image (click to enlarge)
Click to Enlarge Name: faang.PNG Size: 87 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,334
  • Nov 22, 2018 2:39pm Nov 22, 2018 2:39pm
Quoting The Fool
{quote}...risking $3.00 to make 60c not my meat, I would rather risk 3c to make 100 bag any day Looking at a post FOMC rally to close the year - filled a Dec28/Dec31 SPY call diag @ $285/286 for 3c ...to protect it trying fill a SPY call bull vert Dec28 $282/283 for 10c so, risking 13c to make a bunch ....filled both legs equal numbers
risk 13c to make $1.10, makes money between $280 and $290
Attached Image (click to enlarge)
Click to Enlarge Name: 2018-11-22_1438SPY.png Size: 249 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,335
  • Nov 23, 2018 6:48am Nov 23, 2018 6:48am
Out of the following:

SBUX Nov30 66.5 PUT up to $1.58 from $0.45

SBUX Dec7 67.5 PUT up to $2.40 from $1.00

Overall, SBUX was profitable, but not verifying my indicators after the update cost me a lot of time and tied up money that didn't need to be. It has more downward movement over the next couple of weeks, but now nearly everything is pointing to an upward bias soon, and there are a lot of good picks coming available to capitalize on that.
  • #16,336
  • Nov 23, 2018 12:03pm Nov 23, 2018 12:03pm
glad you made money on sbux in the end, that one was a bit of a grind...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,337
  • Nov 23, 2018 1:40pm Nov 23, 2018 1:40pm
Quoting Cecil Gee
{quote} I've gone in again too today $67.50 puts Nov 23 exp for 34c over an hour ago, SBUX currently trading at price below Starbucks Corporation (SBUX) NasdaqGS - NasdaqGS Real-time price. Currency in USD Add to watchlist 67.21-0.71 (-1.04%) As of 3:52PM EST. Market open.
Got out at $1.05, incidentally it was 66.50 puts not the above. typo. Have a good weekend
  • #16,338
  • Nov 23, 2018 1:41pm Nov 23, 2018 1:41pm
Quoting moneymaker2
Out of the following: SBUX Nov30 66.5 PUT up to $1.58 from $0.45 SBUX Dec7 67.5 PUT up to $2.40 from $1.00 Overall, SBUX was profitable, but not verifying my indicators after the update cost me a lot of time and tied up money that didn't need to be. It has more downward movement over the next couple of weeks, but now nearly everything is pointing to an upward bias soon, and there are a lot of good picks coming available to capitalize on that.
Good job
  • #16,339
  • Nov 25, 2018 1:54pm Nov 25, 2018 1:54pm
the future is electric

https://www.yahoo.com/lifestyle/elec...180051468.html
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,340
  • Nov 25, 2018 4:54pm Nov 25, 2018 4:54pm
STage is set for US equities to rally into Xmas , maybe up to FOMC week anyway - a little good news re: Brexit, a little more from G20 re China trade, maybe some dove words from the FOMC - sure, it could happen....
"If The Fool persists in his Folly he will become wise." - William Blake
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