Let's Trade Options

extraordinary. This is the best thread I found. Thank you friends.

In the following:

NUE Feb15 62 PUT @ $1.35

BXP Feb15 130 PUT @ $1.00 Big, stalled spread on this one, but trading between Bid/Ask that's not on the boards. Wasn't like this yesterday, so maybe something's wrong with my Level II feed?....Looking for BXP to drop to the 5EMA (~$129 now, though it will drop slightly as price approaches it) today...it doesn't have much volume so far today, but maybe the lack of interest will lower it steadily into my bank account....

https://www.yahoo.com/finance/news/f...100020886.html

don't fight the Fed, btfd, etc etc

Added to a position:

NUE Feb15 62 PUT @ $0.93

Drops my average down to $1.14, which should be good for some decent money....

Added to a position:

BXP Feb15 110 PUT @ $0.60

Drops my average down to $0.80 , which should be good for some money over the next few days...

Added to a position:

XLNX Feb15 110 PUT @ $1.30

Drops my average to $1.81, which is a good set up for some quick money.

Couldn't resist the big spike, so had to do it....

Out of:

NUE Feb15 62 PUT @ $1.67 up from $1.14

Not a killer amount, but bankable profits.

Once per quarter I look at stocks above $30, optionable, and a minimum 20 day average volume of 500,000 shares and then weed through those. Periodically you get one that may have a few days of big moves that skew the average volume or that the fetching program just messes up.

BXP is one of those...this week's volumes have been miniscule, with today's volume not even 85K yet. Those are the ones that make options trading interesting....the ones that may hit your target price area, but because of the low interest, it is the brokers rather than traders that set the tone for the options spread. Started out with a $0.90 spread at the open and even now just clawed it's way to a $0.30 spread. But it is one that has hit my orders that never showed up on Level II or Bid/Ask quotes that split the Bid/Ask price.....

Just something to remember as we use screening programs to find good stocks....

Out of:

BXP Feb15 110 PUT @ $1.05 up from $0.80

Again, my order never showed up on any of the option quotes, and was just hit out of nowhere (when Bid was $0.70 and Ask was $1.10) as soon as I submitted it.

It has more downside to it coming off that triple top, but with volume still less than 100K shares, it is better to just move on....though I have to admit I have a Hail Mary order in for Mar15 125 PUT @ $0.65 (current Bid/Ask or $0.75/$1.00).......

Due to the big spike in XLNX because of news today (news I believe will be short lived), I added to the following:

XLNX Feb15 110 PUT at $0.64, which brings my average to $1.48, which gives me good position and a good number of contracts.

I also just added the following:

XLNX Feb15 115 PUT @ $2.19, as I can't see it hanging out there around $116 for too long...

I am looking at the stock price to come back at least towards the 5EMA, which is currently around the $111.60 area. A nice down day with the market tomorrow or Friday would be perfect, then I won't have to hold until next week....

Out of the following:

XLNX Feb15 115 PUY @ $3.90 up from $2.19

Still waiting on it to drop enough to get out of the XLNX Feb15 110 PUT at a profit....

Out of the following:

XLNX Feb15 110 PUT @ $1.52 up from $1.48

Not much profit, but does pay commission....glad for that little pop down a few minutes ago!!

Flat now, I'll see if anything is worth getting into before the close since we had a big drop in the DJIA today....

As a wildcard, back into:

BXP Feb15 110 PUT @ $0.40......

Even a small dip should be good for some money. I wouldn't have gotten in if it didn't hit just above the Bid price.....

I still think that triple top is going to push it down, regardless of the volume. Doesn't have weekly options, so the next expiration date in March 15, but they are too expensive right now...

Nothing really out there right now for my type trades, so got into this right at the close:

DIA Feb15 254 PUT @ $1.33

Should get a little drop after such a large up day today, so this should be good for a few bucks while I'm waiting on a good stock trade....

Anyone dip around with online gold and silver retailers? Im tempted to take a crack at this but am hesitant. any thoughts?

Do you mean to purchase bullion or coins? I started out buying 100oz bars of silver back in 1980...*sigh*….yes, it was that long ago! Then started trading some futures.

I haven't done it in about ten years, but this is what I would recommend considering:
1) If you are looking at the smaller bars or coins to buy and sell, make sure the company is reputable and find the one with the cheapest price closest to spot price.
2) Make sure you factor in shipping costs, as they are often inflated quite a bit.
3) If you are looking at the big bars (100oz+), it would be easier to find a company that stores it for you, otherwise you have to get it shipped to you and when you get ready to sell, you have to ship it somewhere or find a local buyer. Make sure you not only check the price they sell it compared to spot price, but the price they buy it back compared to spot.
4) The big bars are usually unpolished and pretty ugly and are purchased more for speculation. They come stamped with a mint mark and a purity stamp. I would not buy from a pawn shop or local dealer unless the mint mark was a widely recognized firm. If there is no mint mark, stay away from it.
5) Most people stick with the nice looking coins or small bars, as they are easily sold. But they also have the highest markup, too.
6) Sometimes you can get good deals on ebay for the coins and small bars, as they are sold based on the seller's desired profit rather than what spot price is for that day.

Bottom line, find the best price including shipping and if you collect them, make sure they are sealed and not handled directly.

Hope this helps....

Risk a little make a lot

Out of:

DIA Feb15 254 PUT @ $1.53 up from $1.33

Not a killer amount, but enough for a nice Valentine's Day shopping spree....

When I get into a trade where the stock doesn't meet my criteria, it is always just a 50/50 chance of profit, and that's why I don't do it very often unless the payout might be very high. It is always best to trade your plan, though taking a chance now and then does add some excitement....which will probably turn to sadness..

In this case, it didn't meet my criteria, and will most likely wind up a total loss.

Glad to see you back, TF. Hope you enjoyed your vacation!