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Let's Trade Options

  • #17,141
  • Feb 21, 2020 9:39am Feb 21, 2020 9:39am
Added to the following:

AAN Mar20 40 CALL @ $0.30 for an average price of $0.425

In the following:

SIX Mar20 35 CALL @ 0.45

Both of these should be good for some money....

STMP and DPZ spreads are just way too wide to trade and the price is too high. Had some bids in for both out but they never came off the ask price, so it's not even worth looking at any more....
  • #17,142
  • Feb 21, 2020 1:27pm Feb 21, 2020 1:27pm
In the following:

AAN Mar20 45 CALL @ $1.30

Noticed my last comment was wrong: I added to the AAN Mar20 50 CALL, not the 40 CALL.....too late to edit, so this is the correction.
  • #17,143
  • Feb 21, 2020 2:52pm Feb 21, 2020 2:52pm
Well, good or bad, I got into the following:

STMP Mar8 170 PUT @ $8.40

Way more expensive than I normally get into, but with that spike up today to close the gap from February of last year, I can't help but think this is coming down hard real soon. That was the closest to $185 I could afford when it got up there.

Options at these levels are not individuals, but the market makers themselves, and they refuse to come off the Ask price for a decent number of contracts, just 1 or 2... But by gosh, that Bid will go up when the stock drops, you can bet on that! I'm hoping it will drop down to ~ $130-$140 level by next week.
  • #17,144
  • Feb 22, 2020 12:44am Feb 22, 2020 12:44am
Quoting The Fool
looking at the snp daily chart....you have to go back to end July 2019 to find 3 red candles in a row. Might see it tomorrow....btfd
I bought the dip at the close.Details later...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,145
  • Feb 23, 2020 6:01am Feb 23, 2020 6:01am
@moneymaker 2 & The Fool: Do you share your options trading strategies somewhere?
  • #17,146
  • Feb 23, 2020 1:27pm Feb 23, 2020 1:27pm
Quoting learnings
@moneymaker 2 & The Fool: Do you share your options trading strategies somewhere?
The generalities of my decisions I do, but the specific indicators I use to determine which stock to buy/sell I do not. That is because, unlike forex, with options there is a finite number of options traded at a given price, and if I shared how to determine which stock I choose, those numbers would dry up (and thus prices get higher) the more people that trade it.
  • #17,147
  • Feb 24, 2020 8:46am Feb 24, 2020 8:46am
Quoting learnings
@moneymaker 2 & The Fool: Do you share your options trading strategies somewhere?
....I post live trades.

This morning @ open I sold 2/24 $325 SPY puts for $2.30 against long puts that were spread legs left over for <10c net debit, a solid 20bagger to start the week.

I turned around and bought Mar02 SPY $335 calls for 35c, looking to leg into a bull call vert or calendar...have an open order to sell Mar02 $336 calls for 75c...we'll see

spoos down >2.6% @ open, I am betting it will retrace some by the close, prolly close <2% down....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,148
  • Feb 24, 2020 8:49am Feb 24, 2020 8:49am
Quoting The Fool
I bought the dip at the close.Details later...
...@ Friday close I bot Mar02 $340 calls for 35c....small trade I might be able to spread against, we'll see....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,149
  • Feb 24, 2020 9:15am Feb 24, 2020 9:15am
Quoting The Fool
spoos down >2.6% @ open, I am betting it will retrace some by the close, prolly close <2% down....
...opening gap I heard was #13 largest all-time....we retraced 20% of it in the 1st hour....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,150
  • Feb 24, 2020 10:11am Feb 24, 2020 10:11am
Quoting moneymaker2
Well, good or bad, I got into the following: STMP Mar8 170 PUT @ $8.40 Way more expensive than I normally get into, but with that spike up today to close the gap from February of last year, I can't help but think this is coming down hard real soon. That was the closest to $185 I could afford when it got up there. Options at these levels are not individuals, but the market makers themselves, and they refuse to come off the Ask price for a decent number of contracts, just 1 or 2... But by gosh, that Bid will go up when the stock drops, you can bet...
Out of the following:

STMP Mar6 170 PUT @ $15.10 up from $8.40

Probably has more downside, but it's about to butt up against the upper BB, so I just took the money and ran.....
  • #17,151
  • Feb 24, 2020 10:22am Feb 24, 2020 10:22am
In the following:

DIA Mar6 285 CALL @ $2.95

I am a firm believer that if the entire body of the candle is below the lower BB, it will go up.....
  • #17,152
  • Feb 24, 2020 10:27am Feb 24, 2020 10:27am
Have Hail Mary bids in for:

AAN Mar20 50 CALL @ $0.15

SIX Mar20 35 CALL @ $0.20

Maybe they will get hit, maybe not....
  • #17,153
  • Feb 24, 2020 10:36am Feb 24, 2020 10:36am
Just added a Hail Mary bid for:

SPY Mar2 325 CALL @ $3.00

May bump up to $3.25 before the close if it gets close....
  • #17,154
  • Feb 24, 2020 2:00pm Feb 24, 2020 2:00pm
BAMM!! Everything got hit!! So....

Added to AAN Mar20 50 CALL @ $0.15 , bringing the average down to $0.23

Added to SIX Mar20 35 CALL @ $0.20, bringing the average down to $0.33

(I also have ANN Mar20 45 CALL @ $1.20 from earlier, just to list all open positions in one place)

In the following:

SPY Mar2 325 CALL @ $3.00

And now, we wait.....
  • #17,155
  • Feb 24, 2020 2:06pm Feb 24, 2020 2:06pm
Too bad I was running some errands, I might could have gotten SPY cheaper and some more DIA, but it looks set to make some money tomorrow on those two anyway...
  • #17,156
  • Feb 24, 2020 3:26pm Feb 24, 2020 3:26pm
Well, I was able to get some more DIA after the close. So added to the following:

DIA Mar6 285 CALL @ $2.46, bringing the average down to $2.71
  • #17,157
  • Feb 24, 2020 4:16pm Feb 24, 2020 4:16pm
Quoting moneymaker2
Out of the following: STMP Mar6 170 PUT @ $15.10 up from $8.40 .....
....nice, hope you had a buttload.

If the last decade of data is any guide, this ~3% drop is the left bank of a v-shaped ditch. We'll see.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,158
  • Feb 24, 2020 5:37pm Feb 24, 2020 5:37pm
Quoting The Fool
{quote}....nice, hope you had a buttload. If the last decade of data is any guide, this ~3% drop is the left bank of a v-shaped ditch. We'll see.....
No, just 10 contracts. It was just to expensive to get more. Still a decent ROI. It looks like it should be a killer amount, but percentage wise, it's basically the same as buying at $1.40 and selling at $2.55. But those dollar increments in options just seem awesome!!

I firmly believe we will see a move up (at least tomorrow) headed for the 284 level (lower BB) for the DIA and the 326 level (again lower BB) on the SPY.

The entire body of a candle being completely outside the lower BB, to me anyways, is a big BUY signal.....not always a full reversal, but certainly enough to make some spending money.....
  • #17,159
  • Feb 24, 2020 6:35pm Feb 24, 2020 6:35pm
/ES up 16, about 0.5% in early Asia. I'd like to see SPY $328 at least by tomorrow...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,160
  • Feb 25, 2020 8:47am Feb 25, 2020 8:47am
Out of the following:

SPY Mar2 325 CALL @ $3.55

Have a bid in for SPY Mar2 323 CALL @ $3.50 but will probably adjust if it keeps going down....of just get into DIA instead...
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