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Let's Trade Options

  • #16,821
  • May 6, 2019 1:33pm May 6, 2019 1:33pm
In the following:

SHOP May19 255 PUT @ $4.00

Should be good for a little money....

Still looking at SMG...may bump bid up a little between now and the close. $0.55 still a decent price.....
  • #16,822
  • May 6, 2019 2:16pm May 6, 2019 2:16pm
In the following:

SMG May19 90 PUT @ $0.45

Now get this: in order to get this filled, I had to cancel my bid from this morning. Bid/Ask was $0.45/$0.55....when I cancelled my $0.45 bid order, the Bid/Ask changed to $0.40/$0.50.....I put in another Bid for $0.45 and it was immediately filled. Stock price had not changed over $0.10 during the time my Bid just sat there until I killed it and submitted another one.

Just shows that market makers can play with the price of the options on low volume stocks. Something to keep in mind....
  • #16,823
  • May 6, 2019 8:21pm May 6, 2019 8:21pm
Well, you would think with all the movement today, there would be a lot of choices tonight, but....nope!

The only one that might be worth a look at in the morning is;

WLK May19 65 CALL @ $0.55 or better, but it isn't quite ready yet. Plus, tomorrow is likely to be another down day, initially, at least...so the 60 CALL may be worth a look, too...
  • #16,824
  • May 7, 2019 9:02am May 7, 2019 9:02am
Quoting The Fool
{quote}...I am looking at strangling SPY or SPX, may start at May20 $186 puts for $1.60, see if I can get a retrace to the downside from the early session and then get into a calendar or vert for credit...
SOLD 5/17 $286 SPY puts for $2.10, gives me a calendar @50c credit...a risk free trade
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-05-07_0700spy.png Size: 244 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,825
  • May 7, 2019 9:21am May 7, 2019 9:21am
Quoting moneymaker2
In the following: SHOP May19 255 PUT @ $4.00 Should be good for a little money.... Still looking at SMG...may bump bid up a little between now and the close. $0.55 still a decent price.....
Out of the following:

SHOP May19 255 PUT @ $5.10 up from $4.00

Probably has more downside, but the markets are going to be odd leading up to Friday tariffs/meetings with China....
  • #16,826
  • May 7, 2019 10:33am May 7, 2019 10:33am
Quoting moneymaker2
{quote} Out of the following: SHOP May19 255 PUT @ $5.10 up from $4.00 Probably has more downside, but the markets are going to be odd leading up to Friday tariffs/meetings with China....
is it Friday? I thought it were Wednesday?

Anyway, the classic rope a dope would be Trump shocking the markets with tariff talk Monday to drop the markets then springing some big "announcement" re China trade on Friday to catch the gap up....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,827
  • May 7, 2019 10:48am May 7, 2019 10:48am
https://www.news8000.com/news/politi...eat/1075954601

China trade delegation in DC Thurs-Fri - at last something to move markets. Possible outcomes:

1) They iron out enough things to make some kind of positive announcement Friday - markets up
2) They drag into the following week - markets sideways
3) They leave in a huff Friday or even Thurs and Trump rattles the old tariff saber some more - markets drop more next week..
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,828
  • May 7, 2019 11:01am May 7, 2019 11:01am
Quoting The Fool
{quote} is it Friday? I thought it were Wednesday? Anyway, the classic rope a dope would be Trump shocking the markets with tariff talk Monday to drop the markets then springing some big "announcement" re China trade on Friday to catch the gap up....
I agree the threat of the tariffs was just to get the ball rolling, but it dropped the markets yesterday, but then back up....today down, maybe tomorrow up. Just hard to get a read this week, so I'll take profits when I can...

Like you said, at least something to move the markets one way or the other....
  • #16,829
  • May 7, 2019 11:03am May 7, 2019 11:03am
Out of:

SMG May19 90 PUT @ $0.80 up from $0.45

Not a lot, but with trading over 2 hours and the stock volume <150K for the day, it's just time to find something else...
  • #16,830
  • May 7, 2019 1:49pm May 7, 2019 1:49pm
In the following:

OKE May19 66 CALL @ $0.85

Should be good for a little money.....
  • #16,831
  • May 7, 2019 1:57pm May 7, 2019 1:57pm
In the following:

AMG May19 95 CALL @ $2.00

Three days ago it was at almost $111, and now it is around $94....okay news from the China stuff will be decent money....
  • #16,832
  • May 7, 2019 2:09pm May 7, 2019 2:09pm
im a options trader , great instrument if you know what you doing
  • #16,833
  • May 7, 2019 2:26pm May 7, 2019 2:26pm
Quoting frann
im a options trader , great instrument if you know what you doing
Welcome, frann! Always good to have another trader on here!
  • #16,834
  • May 7, 2019 2:32pm May 7, 2019 2:32pm
Quoting moneymaker2
{quote} Out of the following: SHOP May19 255 PUT @ $5.10 up from $4.00 Probably has more downside, but the markets are going to be odd leading up to Friday tariffs/meetings with China....
Well, it got some more downside after lunch, that's for sure! PUT traded as high as $7.90, that's almost $3 higher that when I got out! Still made a decent profit, though....

One of the reasons when I get out of a trade, I don't look back (unless another entry is possible), or you spend all your time on 'what if" scenarios....
  • #16,835
  • May 7, 2019 2:43pm May 7, 2019 2:43pm
In the following:

WLK May19 60 CALL @ $1.75

Should be good for some quick bucks.....
  • #16,836
  • May 7, 2019 6:17pm May 7, 2019 6:17pm
Quoting The Fool
{quote} SOLD 5/17 $286 SPY puts for $2.10, gives me a calendar @50c credit...a risk free trade {image}
5/17 puts went to $2.80, not gonna cry about it....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,837
  • May 8, 2019 10:14am May 8, 2019 10:14am
Quoting moneymaker2
In the following: OKE May19 66 CALL @ $0.85 Should be good for a little money.....
Out of:

OKE May19 66 CALL @ $1.35 up from $0.85

Probably has more upside, but it was butting up against the 5EMA, so a good time to exit since it hesitated. Not a killer amount, but good money nonetheless....
  • #16,838
  • May 8, 2019 11:30am May 8, 2019 11:30am
Quoting The Fool
https://www.news8000.com/news/politi...eat/1075954601 China trade delegation in DC Thurs-Fri - at last something to move markets. Possible outcomes: 1) They iron out enough things to make some kind of positive announcement Friday - markets up 2) They drag into the following week - markets sideways 3) They leave in a huff Friday or even Thurs and Trump rattles the old tariff saber some more - markets drop more next week..
....will risk some change on an upside pop....I doubt there will be a breakthrough, but if there is, spoos will resume its grind up to 3,000.

Looking at SPY diagonals May 17/20 or 17/22, $296/97 for pennies....filled May 17/22 $296/297 calls for a nickel
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,839
  • May 8, 2019 1:18pm May 8, 2019 1:18pm
Quoting moneymaker2
{quote} Out of: OKE May19 66 CALL @ $1.35 up from $0.85 Probably has more upside, but it was butting up against the 5EMA, so a good time to exit since it hesitated. Not a killer amount, but good money nonetheless....
if you managed to make some money is still a good day . im looking at the price action and seems to be at a strong level, i will be watching it closely
  • #16,840
  • May 8, 2019 2:19pm May 8, 2019 2:19pm
In the following:

YY May24 76 CALL @ $2.50

Should be good for some spending money....
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