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Let's Trade Options

  • #17,161
  • Feb 25, 2020 10:05am Feb 25, 2020 10:05am
In the following:

SPY Mar2 321 CALL @ $3.50
  • #17,162
  • Feb 25, 2020 10:21am Feb 25, 2020 10:21am
In the following:

DIA Mar6 280 CALL @ $3.40
  • #17,163
  • Feb 25, 2020 11:46am Feb 25, 2020 11:46am
tying my pecker to my leg....plenty room downside
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,164
  • Feb 25, 2020 2:50pm Feb 25, 2020 2:50pm
Added to the following:

SPY Mar2 321 CALL @ $1.45, bringing the average to $2.48

DIA Mar6 280 CALL @ $1.94, bringing the average to $2.67

See if I can't salvage some money in the next few days.....

Added to this one also because it was cheap and still a long way out:

SIX Mar20 30 CALL @ $ 0.45
  • #17,165
  • Feb 25, 2020 3:28pm Feb 25, 2020 3:28pm
Quoting moneymaker2
Added to the following: SPY Mar2 321 CALL @ $1.45, bringing the average to $2.48
...held off but near close bot Mar02 SPY $321 calls for $1.52...I will sell the Mar02 $322 calls for a bull call vert for something better than that if I get the chance....buying call options dicey with iv's moving around alot...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,166
  • Feb 25, 2020 3:44pm Feb 25, 2020 3:44pm
Quoting The Fool
..... 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....
....dead money
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,167
  • Feb 25, 2020 3:44pm Feb 25, 2020 3:44pm
Quoting The Fool
{quote}...@ Friday close I bot Mar02 $340 calls for 35c....small trade I might be able to spread against, we'll see....
....deader money
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,168
  • Feb 25, 2020 3:47pm Feb 25, 2020 3:47pm
SPY retracing $1.55 ah as I type,....btfd gotta come out to play soon. Every virus headline is buckshot for bulls, until they learn to like it....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,169
  • Feb 26, 2020 10:55am Feb 26, 2020 10:55am
Quoting The Fool
{quote}...held off but near close bot Mar02 SPY $321 calls for $1.52...I will sell the Mar02 $322 calls for a bull call vert for something better than that if I get the chance....buying call options dicey with iv's moving around alot...
....sold Mar02 $322 calls for $1.93, also recouped some on other prior long calls, getting out of long positions
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,170
  • Feb 26, 2020 11:29am Feb 26, 2020 11:29am
Quoting The Fool
{quote} ....sold Mar02 $322 calls for $1.93, also recouped some on other prior long calls, getting out of long positions
Good job! I was at breakeven for both DIA and SPY, but decided to hold on because the charts look ready to explode up....I'll know in a day or two if that was the right thing to do.....
  • #17,171
  • Feb 26, 2020 11:54am Feb 26, 2020 11:54am
I don't think this bounce can hold long. Bulls are skittish as long as virus news keeps coming. And the worst of the news in the US is yet to come. As of last week, only 3 States even had the ability to test for the virus. There will be more cases, more politicization, calls for social isolation (quarantines), etc. Not at all hard to imagine all the dire consequences. Can you imagine what it will be like if they close schools, close factories...for weeks or months at a time?

We saw US indices drop ~10% in just a few days. I'd say if the virus scare persists into Q2, we could be off another 20-40%. I was already building some long term short positions with expiries bracketing US election season. I will keep looking short, but more near-term....(as always, have something on the other end too...)
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-02-26_0930spy01.png Size: 132 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,172
  • Feb 26, 2020 12:59pm Feb 26, 2020 12:59pm
In the following:

SIX Mar20 30 CALL @ $0.30

Chart just looks too good....
  • #17,173
  • Feb 26, 2020 1:32pm Feb 26, 2020 1:32pm
Quoting The Fool
....(as always, have something on the other end too...)
...bot a Mar6/9 SPY call diag $327/328 for 7c credit
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,174
  • Feb 26, 2020 2:59pm Feb 26, 2020 2:59pm
Quoting The Fool
I'd say if the virus scare persists into Q2, we could be off another 20-40%.
...transport stocks already hammered but some could crater....think cruise lines....hell those cruise ships are petri plates, who wants to be quarantined on one for weeks? Then you get to your home port and they turn you away? Yikes!

See NLH, CCL, etc....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,175
  • Feb 26, 2020 6:11pm Feb 26, 2020 6:11pm
It's ironic, in a way, that I've been playing Plague Inc on my phone for a year or so now and was in a discussion at Christmas about how easy it would be to kill millions with a virus as a biological weapon just due to the modes of mass travel. Hope it doesn't get that bad!!

And,.... I hope DIA and SPY go up very soon, too....
  • #17,176
  • Feb 26, 2020 8:30pm Feb 26, 2020 8:30pm
...playing with the screener....
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-02-26_1829stamps.png Size: 215 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,177
  • Feb 26, 2020 8:35pm Feb 26, 2020 8:35pm
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,178
  • Feb 26, 2020 8:39pm Feb 26, 2020 8:39pm
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-02-26_1838apt.png Size: 203 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,179
  • Feb 26, 2020 11:40pm Feb 26, 2020 11:40pm
been a rough week for the cruise lines
Attached Image (click to enlarge)
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,180
  • Feb 26, 2020 11:49pm Feb 26, 2020 11:49pm
spoos down another 50 overnight. If it's going to shed 1.5% a day, it will be trading under 2,000 before tax day. There will be a bottom, of course. You bet I will let you know the minute I see it. Main thing to remember in times like these....keep some powder dry....
"If The Fool persists in his Folly he will become wise." - William Blake
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