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Let's Trade Options

  • #16,421
  • Dec 13, 2018 12:36am Dec 13, 2018 12:36am
Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,422
  • Dec 13, 2018 11:01am Dec 13, 2018 11:01am
Quoting moneymaker2
Well, unless something major happens, I'm gonna assume the Dec18 AAPL calls are gonna be a total loss (though I'm still holding in case something really exciting DOES happen). That screw up on my indicator settings last month really messed up my weekly chart picks and cost me lots of money on both AAPL and WTW. Caused the weekly charts to look like a good setup several weeks before they actually were. Comparing my weekly charts to another program this morning, mine haven't changed hardly at all in weeks....none of them. Heck, AAPL just last week...
I bought some of those $175 aapl calls but for tomorrow exp Dec 14 just as a lotto trade for 28c earlier , AAPL is currently trading at 171. 87. looks like a decent set up as long as it can stay above 170

Apple Inc. (AAPL)
NasdaqGS - NasdaqGS Real-time price. Currency in USD
Add to watchlist
171.87+2.77 (+1.64%)
As of 11:58AM EST. Market open.
  • #16,423
  • Dec 13, 2018 11:43am Dec 13, 2018 11:43am
Quoting Cecil Gee
{quote} I bought some of those $175 aapl calls but for tomorrow exp Dec 14 just as a lotto trade for 28c earlier , AAPL is currently trading at 171. 87. looks like a decent set up as long as it can stay above 170.
I think for it to top $175 by tomorrow, it will need to close above $172 (preferably in the $172.50+ area). Then it might pop up first thing at the open, but it has been skittish as of late with any follow through.....that's why I went so far out on expiration date (Dec28).

I hope you make some money with it, I'll be rooting for you!!.....
  • #16,424
  • Dec 13, 2018 1:34pm Dec 13, 2018 1:34pm
I kind of think markets will range fairly tight as we roll into the Dec19 FOMC, but we'll see. I am still pretty much just sitting on hands.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,425
  • Dec 13, 2018 2:22pm Dec 13, 2018 2:22pm
If you want to buy some calls, I recommend AMZN - I am keeping them afloat all by myself I think...should see them pop in Q1 '19 on strong Xmas sales.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,426
  • Edited 5:02pm Dec 13, 2018 2:51pm | Edited 5:02pm
Looking to get into:

BIG Jan19 30 CALL @ $1.30 before the close. May bump to $1.35 if no takers to open the trade today.....
  • #16,427
  • Edited 5:02pm Dec 13, 2018 2:59pm | Edited 5:02pm
Quoting moneymaker2
Looking to get into: BIG Jan19 30 CALL @ $1.30 before the close. May bump to $1.35 if no takers to open the trade today.....
In BIG Jan18 30 CALL @ $1.35
  • #16,428
  • Dec 14, 2018 9:33am Dec 14, 2018 9:33am
////
Attached Image (click to enlarge)
Click to Enlarge Name: 2018-12-14_0734SPX.png Size: 261 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,429
  • Dec 14, 2018 9:57am Dec 14, 2018 9:57am
bye VXX

https://www.yahoo.com/finance/news/f...153402691.html
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,430
  • Dec 14, 2018 12:59pm Dec 14, 2018 12:59pm
Quoting The Fool
I kind of think markets will range fairly tight as we roll into the Dec19 FOMC, but we'll see. I am still pretty much just sitting on hands.
sure. Will 2,600 hold?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,431
  • Dec 14, 2018 1:04pm Dec 14, 2018 1:04pm
spoos looks to me like it will really take a dump to close the week - I won't be surprised to see -3% today.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,432
  • Dec 14, 2018 2:15pm Dec 14, 2018 2:15pm
Ok, got some more:

BIG Jan18 30 CALL @ $0.80

Brings average cost down to just over $0.98, with it trading at ~$28.35 on a down candle. A few good DJIA days will bring it into positive territory pretty easily, especially being in January.

Assuming we still have consistent DJIA good days.....been a while since we've seen any.....
  • #16,433
  • Dec 14, 2018 2:18pm Dec 14, 2018 2:18pm
AMZN be back to $2k in no time.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,434
  • Edited 2:43pm Dec 14, 2018 2:26pm | Edited 2:43pm
Well, good or bad, I got into more:

AAPL Dec28 175 CALL @ $0.90

Thant puts my average for these CALLS at $1.38

Again, banking on a few good DJIA days between now and then. Weekly chart (the good one, finally) looks primed for a move up. Two weeks to make $10 increase in stock price, which should be doable.
  • #16,435
  • Dec 14, 2018 2:43pm Dec 14, 2018 2:43pm
The really sad part about the AAPL Dec18 190 CALLs that are gonna be pretty much a total loss is that it is my fault. In addition to the chart indicator fiasco, back on the 3rd when AAPL spiked up at the open, I could have made a good profit, as I watched the bid price go above $2.90 and I had paid $1.86. I had my sell order in for $1 above my entry price (my standard thing), but when I saw what it was doing pre-market, I raised it to $2 (GREED)....well, naturally it opened high and almost immediately started dropping, and even though it surpassed that opening high by the end of the day, option prices never peaked again. Now I could have even sold at the end of the day for a decent profit, but held it to make more (GREED).

Granted, this month has been a very weird month, but let this be lesson to everyone:
1) periodically verify your chart data, and
2) keep a check on your GREED
  • #16,436
  • Dec 14, 2018 2:43pm Dec 14, 2018 2:43pm
Tied my pecker to my leg until the Dec FOMC revives the bull. Dry powder...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,437
  • Dec 16, 2018 2:36pm Dec 16, 2018 2:36pm
Quoting The Fool
ntil the Dec FOMC revives the bull. Dry powder...
Is the Dec rate hike baked in? If they skip it, will stocks rally to close the year? Spoos sitting on 2600 support, will it hold?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,438
  • Dec 17, 2018 7:05am Dec 17, 2018 7:05am
Quoting Cecil Gee
{quote} I bought some of those $175 aapl calls but for tomorrow exp Dec 14 just as a lotto trade for 28c earlier , AAPL is currently trading at 171. 87. looks like a decent set up as long as it can stay above 170 Apple Inc. (AAPL) NasdaqGS - NasdaqGS Real-time price. Currency in USD Add to watchlist 171.87+2.77 (+1.64%) As of 11:58AM EST. Market open.
it was exactly that lotto, loss
  • #16,439
  • Dec 17, 2018 7:10am Dec 17, 2018 7:10am
Quoting Cecil Gee
New trade on NFLX gone long bought 285 calls at $4.50 for Dec 21 exp. NFLX trading at $275.40
bad call from me, downtrend is too strong in the market overall, had to close on Friday at $2.20 equalling to a loss of $230 per contract plus comms
  • #16,440
  • Dec 17, 2018 7:15am Dec 17, 2018 7:15am
may just sit it out now till end of year, everyone will be closing books soon and the monthly futures candle could drop another 500 points or more on the DOW before it sees any meaningful resistance by year end
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