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Let's Trade Options

  • #17,481
  • Apr 7, 2020 2:24am Apr 7, 2020 2:24am
Jeepers I have a nice trade shaping up. Way back on 2/28 I bot a SPXS put spread - it just has monthlies - I got in a $13 Mar/Apr put calendar for 25c. The Mar short puts expired worthless & I have been watching the Apr $13 puts...almost closed them for around $1 couple times....

SPXS closed at $14 today. With a big SPX gap up brewing, the puts should go in the money. I'd like to see $1.50 out of them...gonna put a $1.75 tp on them and check at the open....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,482
  • Apr 7, 2020 2:45am Apr 7, 2020 2:45am
loading a SPX call vert - Apr30 2995/3000 for 20c (!)....we'll see if it fills.....I will fill it there for more, want to have that to guard credit spreads I will put further up if/when the SnP rips face. Can it do 300 pts in 3 weeks? Easy...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,483
  • Apr 7, 2020 9:49am Apr 7, 2020 9:49am
Quoting moneymaker2
Just got hit on a bid for the following: AAL Jun19 13 CALL @ $0.88, bringing the average down to $0.96 Same as above, a small move up will be good for some money.....tick tock.....
Out of the following:

AAL Jun19 13 CALL @ $2.20 up from $0.96

A good jump at the open made for some good money today!!

Almost sold UAL at a profit but decided to wait a little longer on that one....
  • #17,484
  • Apr 7, 2020 11:30am Apr 7, 2020 11:30am
bot a set of EWZ call verts, Jun $34/35...for 9c
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,485
  • Apr 7, 2020 11:31am Apr 7, 2020 11:31am
Quoting The Fool
loading a SPX call vert - Apr30 2995/3000 for 20c (!)....we'll see if it fills...
filled for 45c
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,486
  • Apr 7, 2020 11:33am Apr 7, 2020 11:33am
Quoting The Fool
.. SPXS closed at $14 today. With a big SPX gap up brewing, the puts should go in the money. I'd like to see $1.50 out of them...gonna put a $1.75 tp on them and check at the open....
...looking for SPXS to dip under $12.50 again, then I will kill this trade, might squeak up to $1,50....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,487
  • Apr 7, 2020 12:03pm Apr 7, 2020 12:03pm
bot BAC $32 calendar calls, Jun/Aug, for 15c
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,488
  • Apr 8, 2020 9:50am Apr 8, 2020 9:50am
Quoting The Fool
{quote}AAL flat on a rally day....I am looking at puts ...trying Apr24/May1 $8 calendar puts for 17c
DAL supposed to do ER today, but maybe they are postponing it. When/if they announce, their results will fade into AAL. Rumors abound...maybe DAL getting ready to Ch. 11...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,489
  • Apr 8, 2020 1:23pm Apr 8, 2020 1:23pm
Okay, back again. Several hours to get the pickups from Kroger and Walmart now, not to mention cleaning afterwards....

Anyway, I think anything with the airlines will no longer be news, except good news. If another bailout is needed, it will happen. Society can't sustain with limited airline travel after the virus winds down.

That being said, my bid got hit this morning and I'm in the following:

AAL Jun19 15 CALL @ $0.95

Could have saved some had I been at my computer, but that's a price that should make some decent money.


I have a Hail Mary Bid for Oct CCL 15 CALL at $2, but even though it looks to be drifting down now, not sure if it will get hit....
  • #17,490
  • Apr 8, 2020 2:42pm Apr 8, 2020 2:42pm
Quoting moneymaker2
Okay, back again. Several hours to get the pickups from Kroger and Walmart now, not to mention cleaning afterwards.....
.....I do the Instacart home delivery....just costs $10 + a tip. (Might be more if you live far from the store) Hell I might not go to the store again for years. When the delivery comes, I ask the human to put everything in the back of a car and I let the dry stuff sit there for a day or two. Perishables get washed in bleach solution outside, packaging discarded outside.

The bottom seems to be in on stocks, even airlines and cruise lines, but we'll see. There are still several shoes that could drop...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,491
  • Apr 8, 2020 2:53pm Apr 8, 2020 2:53pm
Quoting The Fool
..looking for SPXS to dip under $12.50 again, then I will kill this trade, might squeak up to $1,50....
....out of this today at $1.28, solid 5x....VIX levered products drain iv fast as they come down, no complaints
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,492
  • Apr 8, 2020 4:25pm Apr 8, 2020 4:25pm
Quoting The Fool
{quote}.....I do the Instacart home delivery....just costs $10 + a tip. (Might be more if you live far from the store) Hell I might not go to the store again for years. When the delivery comes, I ask the human to put everything in the back of a car and I let the dry stuff sit there for a day or two. Perishables get washed in bleach solution outside, packaging discarded outside.
Yeah, there has been some issues with instacart here in that orders would be marked as delivered but never were and then it was a major pain to get any reimbursement. I do a wipedown of everything and toss the bags. I let all the veggies and fruits hang out in a spare room with a fridge for a couple of days. I'm like you, this social distancing isn't a major issue with me....
  • #17,493
  • Apr 8, 2020 5:21pm Apr 8, 2020 5:21pm
I have no complaints re: instacart. For the most part they fill my orders accurately and I get them within 2 days. Many staples are sold out though - it took me 3 weeks of trying to score a 10 lb bag of flour. Lot of people staying home & making cookies...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,494
  • Apr 9, 2020 9:11am Apr 9, 2020 9:11am
Quoting moneymaker2
That being said, my bid got hit this morning and I'm in the following: AAL Jun19 15 CALL @ $0.95 Could have saved some had I been at my computer, but that's a price that should make some decent money.
Out of the following:

AAL Jun 15 CALL @ $1.95 up from $0.95

Good money on this one. Had a little more upside available, but it is butting up against the 5EMA on the weekly and the lower BB on the monthly, so time to take the money since this is a short day/week.

Got an Ask out on UAL for $2.55....maybe to day....
  • #17,495
  • Apr 9, 2020 9:31am Apr 9, 2020 9:31am
I sold out of that AAL $8 calendar for 15c....a 2c loss...the miracle of volatility...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,496
  • Apr 9, 2020 9:48am Apr 9, 2020 9:48am
Quoting moneymaker2
{quote} Added to the following: UAL Jun19 45 CALL @ $0.45, bringing the average down to $0.53 A small move up will be good money, so now we wait....
Out of the following:

UAL Jun19 45 CALL @ $2.46 average, up from $0.53

Took a while to get rid of all of them but that was a really good moneymaker, too! (see how I did that?...moneymaker, too...Moneymaker2...)

Same thing as AAL: butting up against the 5EMA on the weekly.

I will probably get back into both when they drop again, which might be likely after their little run up....
  • #17,497
  • Apr 9, 2020 12:56pm Apr 9, 2020 12:56pm
bot a Apr17/24 USO $6.5 call calendar for 6c
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,498
  • Apr 9, 2020 1:49pm Apr 9, 2020 1:49pm
Quoting The Fool
bot a Apr17/24 USO $6.5 call calendar for 6c
That should do well. Matter of fact, I've been looking at USO this morning. I may get into the Jun $5......
  • #17,499
  • Apr 9, 2020 2:00pm Apr 9, 2020 2:00pm
bot a SPY put fly, Apr27 $246/250/254 for 11c....

...I am overweight long equities but throw these in the mix to catch any pullbacks..
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,500
  • Edited 3:12pm Apr 9, 2020 2:16pm | Edited 3:12pm
In the following:

USO Oct16 5 CALL @ $0.95

I figured four months more time for $0.20 more than the Jun19 option is a good trade-off.

Should be good for some money by then......
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