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Let's Trade Options

  • #16,781
  • Apr 8, 2019 9:14am Apr 8, 2019 9:14am
In the following:

WYNN Apr19 141 PUT @ $1.90

That should make up for any losses off the 135 PUTS should they occur.....
  • #16,782
  • Apr 8, 2019 9:23am Apr 8, 2019 9:23am
The 5EMA is around $268 for NTES, so if it can penetrate that going down I'll hold until around $262-ish, which should be the 10EMA in a few days. If it can't, then I'll get rid of it around $268, which is still a good profit!!

Right now, $271 is some minor support, so it needs to drop below that to continue a downward move....
  • #16,783
  • Apr 9, 2019 4:07am Apr 9, 2019 4:07am
Quoting Cecil Gee
{quote} correct guys, our own emotions and mindset is the biggest risk factor, having said that I bought more calls on AMZN just before the close. I had to go a little further out in price as it was cheaper .Amzn is looking bullish as are the indexes after yesterdays weekly SPX candle closing strong .Details of the trade are below Strike price 1920 AMZN calls. EXP date 18 April 2019. just before the earnings 24 April . Price 4.10 If they move higher with the increase in implied volatility nearing the earnings should price the options even higher...
I'm still open on those AMZN calls, gonna see what happens today as we are nearing hard resistance on all indexes. Calls are up to $5. It'll be a sharp exit if it shows serious weakness.

AMZN Apr 2019 1920.000 call
OPR - OPR Delayed price. Currency in USD
Add to watchlist
5.00000.0000 (0.00%)
As of 8 April 3:59PM EDT. Market open.
  • #16,784
  • Apr 9, 2019 6:29am Apr 9, 2019 6:29am
Quoting Cecil Gee
{quote} I'm still open on those AMZN calls, gonna see what happens today as we are nearing hard resistance on all indexes. Calls are up to $5. It'll be a sharp exit if it shows serious weakness. AMZN Apr 2019 1920.000 call OPR - OPR Delayed price. Currency in USD Add to watchlist 5.00000.0000 (0.00%) As of 8 April 3:59PM EDT. Market open.
If I see $5.75 or better print on the options I will exit
  • #16,785
  • Apr 9, 2019 8:48am Apr 9, 2019 8:48am
Quoting moneymaker2
In the following: WYNN Apr19 141 PUT @ $1.90 That should make up for any losses off the 135 PUTS should they occur.....

Out of the following:


WYNN Apr19 135 PUT @ $1.75 down from $2.10


WYNN Apr19 141 PUT @ $4.25 up from $1.90


So it did make up for any losses on the 135 PUTs and then some. If it bounces back up later today, I may get back into it as the next support is around $135....

  • #16,786
  • Apr 9, 2019 9:14am Apr 9, 2019 9:14am
In the following:

WYNN Apr19 138 PUT @ $2.36

Won't make a lot, but should make some with this...
  • #16,787
  • Apr 9, 2019 9:32am Apr 9, 2019 9:32am
Quoting moneymaker2
In the following: WYNN Apr19 138 PUT @ $2.36 Won't make a lot, but should make some with this...
Out of the following:

WYNN Apr19 138 PUT @ $2.65 up from $2.36

Not a lot, but the stock is bouncing around too much on lower volume now, so when it moves 20-30 cents every trade, it is time to take the money and run....
  • #16,788
  • Apr 10, 2019 5:12am Apr 10, 2019 5:12am
Quoting moneymaker2
{quote} Out of the following: WYNN Apr19 138 PUT @ $2.65 up from $2.36 Not a lot, but the stock is bouncing around too much on lower volume now, so when it moves 20-30 cents every trade, it is time to take the money and run....
couple of good trades there MM, nice trades
  • #16,789
  • Apr 10, 2019 9:47am Apr 10, 2019 9:47am
Thanks, Cecil.

Out of the following:

NTES Apr19 267.5 PUT @ $4.70 up from $3.70 average cost

I had a limit order out there and it got hit before I changed it this morning. Probably has some more downside, but I'll sure take it!!…...
  • #16,790
  • Apr 11, 2019 2:29pm Apr 11, 2019 2:29pm
Well, I think I might have another issue with my charting program....don't think I tweaked everywhere I needed to when I reinstalled it the end of last month. I noticed this morning some of the chart's indicators are not looking the same as they did at the end of last month....same basic shape but just not falling at the same level as they were, so something is making them be different than when I reloaded the program.

What made me start looking was that I currently have 4 stocks in losing positions (SJM, WBA, KMX, and AMP) and I have never had that many losing stocks open at once (except when I had the charting issue on November 20 of last year I had a couple). Trades need to breath, so that's not what I'm talking about....I'm talking trades that are moving in a direction that is unexpected based on my indicators. That is not meant as a brag, but just that my method is usually very accurate, and when it isn't, like now, it makes me wonder what is different. Again, miscellaneous screenshots of my charts have saved me from either continuing with bad charts or having to try to figure out what the problem is. I should have taken a few days after I reinstalled to go through everything, instead of just making sure the last issue didn't repeat. I have found one issue where, on my custom chart template, some up candles were coded as red candles, which unless you are specifically looking or know the stock action those days in question, you may never discover. Now I have to find out what is causing my indicators to move when they should no longer be repainting. It is probably something very simple, because it usually is, but just takes some time to find it.

I think when I get everything squared away this time, I'll copy all the files to an external hard drive, that way if I upgrade again, I'll have the base files I can just replace any corrupt ones rather than trying to go in a fix individually. Theoretically, that should save a lot of time, but in reality...?.....
  • #16,791
  • Apr 11, 2019 3:21pm Apr 11, 2019 3:21pm
zzzzzzzzzz markets flatlining under shitty low volume and no real macro or event influences to cause anything but sideways to slight grind up......with iv's cratering a good time to enter cheap calendars perhaps and maybe catch some moves off earnings, now a few weeks out to the meat of Q1 reports........in times like these I really don't care that much if I am trading or not, so my entries are all low ball fine whatever
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,792
  • Apr 12, 2019 12:13am Apr 12, 2019 12:13am
Still digging through some charting technical issues, but I saw one that is kinda interesting. A real underdog story,... sort of. Swapping out CEOs and a big reverse split and really cheap. Doesn't meet any of my normal criteria, so it is a 100% pure gamble..... but it is cheap and sometimes I think those true longshots add a little fun:

RAD Jan15 (2021) 0.50 CALL @ $0.26 or better

It's kinda like a frictionless roulette wheel that will spin for a really L-O-N-G time! So, if it doesn't go bankrupt, I have 644 days to make a little money on it......
  • #16,793
  • Apr 12, 2019 8:35am Apr 12, 2019 8:35am
Quoting moneymaker2
Still digging through some charting technical issues, but I saw one that is kinda interesting. A real underdog story,... sort of. Swapping out CEOs and a big reverse split and really cheap. Doesn't meet any of my normal criteria, so it is a 100% pure gamble..... but it is cheap and sometimes I think those true longshots add a little fun: RAD Jan15 (2021) 0.50 CALL @ $0.26 or better It's kinda like a frictionless roulette wheel that will spin for a really L-O-N-G time! So, if it doesn't go bankrupt, I have 644 days to make a little money on it......
In the following:

RAD Jan15 (2021) 0.50 CALL @ $0.27

I went ahead and got it at the Ask price to be done with it.....
  • #16,794
  • Apr 12, 2019 10:20am Apr 12, 2019 10:20am
Out of the following:

WES May17 30 CALL @ $5.10 up from $2.65

WES May17 35 CALL @ $0.80 up from $0.35

Nice pop up this morning....not sure why, but very happy with the results!!…..I had almost forgot about these since they are so far out....
  • #16,795
  • Apr 12, 2019 2:20pm Apr 12, 2019 2:20pm
How many positions are you usually in at a time, money? What's the high end?

I was listening to a Sosnoff vid last night & he said he thought his most active customers (ie, @ tastyworks) might be in a few hundred at a time....but somebody he knew running a prop shop would be in up to 10 million at a time.

I am flat atm.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,796
  • Apr 12, 2019 11:10pm Apr 12, 2019 11:10pm
Quoting The Fool
How many positions are you usually in at a time, money? What's the high end? I was listening to a Sosnoff vid last night & he said he thought his most active customers (ie, @ tastyworks) might be in a few hundred at a time....but somebody he knew running a prop shop would be in up to 10 million at a time. I am flat atm.....
I typically try to stay in less than about six positions at a time (I consider "positions" as trades on different stocks), but it depends on the number of good candidates available at the time. Sometimes I will have different strike prices for the same stock, like I did earlier with WYNN, but I only consider that as one position since I am only watching one chart. Normally I am trading 3-6 different stocks at any given time.

As far as contracts go, I typically have 25-150 per trade. I like to trade in 25 contract lots for ease of profit/target calculations should I add more contracts....so I might start out with 25 contracts at $1.50, but if price drops to $1 and it still looks good, I may add another 25-50 contracts to lower the average cost. The most I like to have on one stock is about 300 contracts (though I have had as many as 500 for really low priced options), but as I mentioned, I usually only have 25-150 on any one stock. The total number of contracts I typically have open at any given time is 100-300, with the max I like to have open being around 600 contracts.

That is why it is very important for my charting to be technically accurate, because if you have $2.5K-$25K in one trade, when your indicators are telling you that the move you base your trade on is going to happen in the next day or two, you have to know they are on the money. Then, instead of gambling, the money just becomes a means to an end, with the end being profits. I've only had technical issues 3-4 time over the last decade or so and although everything can be fixed given some time, the frustrating part is knowing you can't trade until you find and fix the glitches!

I find six hundred contracts open at one time pretty stressful in and of itself; I can't even imagine having millions open at once.....
  • #16,797
  • Apr 16, 2019 11:49am Apr 16, 2019 11:49am
NFLX ER today sitting ~$360 can we get a 10% pop or drop?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,798
  • Apr 16, 2019 2:55pm Apr 16, 2019 2:55pm
NFLX looks like usually a >$25 move is in the cards.

A double-ended bull vert @ 4/18 $332.5/335 puts and $387.5/$385 calls cost me about $1.20
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,799
  • Apr 16, 2019 3:43pm Apr 16, 2019 3:43pm
Quoting The Fool
NFLX looks like usually a >$25 move is in the cards. A double-ended bull vert @ 4/18 $332.5/335 puts and $387.5/$385 calls cost me about $1.20
...fizzle, remind me how come I rarely play these ER gambles any more.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,800
  • Apr 18, 2019 2:25pm Apr 18, 2019 2:25pm
Quoting The Fool
{quote} ...fizzle, remind me how come I rarely play these ER gambles any more.
...biggest nothingburger seen out of NFLX ER in some time or ever fml
"If The Fool persists in his Folly he will become wise." - William Blake
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