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Let's Trade Options

  • #17,621
  • Jun 5, 2020 10:20am Jun 5, 2020 10:20am
In BAC Aug $32 calls for 24c, they worth 75c now, looking to spread a front month...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,622
  • Edited 11:11am Jun 5, 2020 10:41am | Edited 11:11am
Sitting on a pile of Jul17 PBR $12 calls...they worth 9c now....this was the back of a Jun/Jul calendar that cost 3c.....I'm holding...

I have Sep PBR $11/12 vert calls, bot for 7c...they worth 20c now, I want at least 50c
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,623
  • Jun 5, 2020 11:05am Jun 5, 2020 11:05am
I have Jun19/Jul17 MRO $8 calendar calls, bot for 10c months ago, looking for glory, MRO up 19% to $7.40 today
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,624
  • Jun 5, 2020 8:00pm Jun 5, 2020 8:00pm
Quoting moneymaker2
Well, AAL Jun19 15 CALL spiked up to over $4.50 today....sorry I missed that!
AAL Jun19 15 CALLS went up to $8.50 today....man, I wish I would have held my contracts until TODAY to get rid of them....that would have been one of my top 5 trades ever!!….*sigh*….but I didn't.....still made a big profit (I consider it big, anyway)….
  • #17,625
  • Jun 5, 2020 8:18pm Jun 5, 2020 8:18pm
Since the March low, the spoos has come up 50% in 50 days....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,626
  • Jun 5, 2020 8:23pm Jun 5, 2020 8:23pm
Quoting The Fool
I bot BA Aug call spreads back when it was around $100. I have Aug $220/230 in for $0.80, worth $4.50 today, I am holding out for something >$7. Bot Aug $245/250 for 40c, they're worth 1.40c today, will hold for $2.50 or better....
You're a better man than me....I would have bought at least 50 contracts of each, so I would have sold those worth $4.50 today and banked that $18K profit and the $5K profit on the other one, because by my charts BA looks set to drop next week, with the Daily candle body completely outside the upper BB and the Weekly butting up against the upper BB when it repaints on Monday, so I'd take the money and look for another trade.

I would stress out holding for max payout!! Heck, all my profits would go to antacids and ulcer medications!! So like I said, you are a better man than me....
  • #17,627
  • Jun 5, 2020 8:33pm Jun 5, 2020 8:33pm
If I had more weight on the BA trades I would have taken some off today, but alas, they are small. And I have lots of time left.

The largest trade of those listed above are the PBR ones. The calendar that was a 3c debit is @ 90 over several accounts.....fingers crossed for a 10 bagger...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,628
  • Jun 6, 2020 1:55pm Jun 6, 2020 1:55pm
Quoting moneymaker2
{quote} You're a better man than me....I would have bought at least 50 contracts of each, so I would have sold those worth $4.50 today and banked that $18K profit and the $5K profit on the other one, because by my charts BA looks set to drop next week, with the Daily candle body completely outside the upper BB and the Weekly butting up against the upper BB when it repaints on Monday, so I'd take the money and look for another trade. I would stress out holding for max payout!! Heck, all my profits would go to antacids and ulcer medications!! So like...
Long term stock trader, still tryna learn about options.

Do you know any forum dedicated exclusively to option traders?

Any way of finding unusual option activity & tryna key into it?

Are option subscription website signals worth it?
  • #17,629
  • Jun 6, 2020 4:17pm Jun 6, 2020 4:17pm
Quoting The Fool
If you are a US citizen you can get a TD Ameritrade account with 0 balance and use the best platform, Thinkorswim (ToS). If you're not in the US I think you can get a tastyworks account. You can view options chains for any symbol on Yahoo Finance and paper trade with an actual pad of paper and a pencil. Nothing wrong with that. To understand how spreads work, you really need a good platform that you can use to model the performance of options over time and with changing greeks. The best I know of is ToS. There's also this thing, OptionsPlay... https://www.optionsplay.com/...
These are some good places as per The Fool. He has a different trading style than I do, as I trade purely PUTS/CALLS and he trades mainly spreads, both of us being successful in each method.

You will have to Google option trading forums, as I don't frequent the forums, just a couple of chat rooms.

I have found that unusual option activity typically means nothing, because a lot of times rather than the PUT activity showing insight, it is just people selling PUTs when they expect price to go up, or vise versa, so I don't pay any attention to that. That being said, there used to be several places to find unusual option activity, so it should be easy enough to Google that, also.

As far as subscription signals, I know many that have decent returns but require 10-20 trades per week to make it, so unless you have a lot of capital to start out, that many trades might not be for you. Some claim to have 100%-200% return per year consistently.....might be worth a look just starting out. I couldn't take the pay cut.....

But try some of those sites listed above, they should help get your feet wet!
  • #17,630
  • Jun 6, 2020 6:47pm Jun 6, 2020 6:47pm
Quoting Evasparkling
{quote} Long term stock trader, still tryna learn about options. Do you know any forum dedicated exclusively to option traders??
most people into options will have spent a lot of time here...

https://www.tastytrade.com/tt/
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,631
  • Jun 8, 2020 11:37am Jun 8, 2020 11:37am
In the following:

AAL Jun19 18 PUT @ $1.44

Should be good for a little money.....
  • #17,632
  • Jun 8, 2020 11:44am Jun 8, 2020 11:44am
Just got into the following:

NIO Aug21 6 PUT @ $1.21
  • #17,633
  • Jun 8, 2020 11:49am Jun 8, 2020 11:49am
well I'll be dipped in shit....I thot this dog was headed for the pink sheets....

When do the puts catch up.....?
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,634
  • Jun 8, 2020 11:49am Jun 8, 2020 11:49am
BA is poised to drop in the next day or so, but the price of the options are wayyyy too expensive for me...
  • #17,635
  • Jun 8, 2020 1:55pm Jun 8, 2020 1:55pm
$14 to $77 in 2 days, no splits
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,636
  • Jun 9, 2020 2:22am Jun 9, 2020 2:22am
no country for old men
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,637
  • Jun 9, 2020 2:31am Jun 9, 2020 2:31am
wti -$47 to +$40 in 2 months will drive anybody crazy
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,638
  • Jun 9, 2020 2:35am Jun 9, 2020 2:35am
a half billion shares sheesh....pre-BK it traded at $2.75 or so.....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,639
  • Jun 9, 2020 3:01am Jun 9, 2020 3:01am
Gambler's market...NKLA has zero revenue and a higher market cap than Ford....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #17,640
  • Jun 9, 2020 3:14am Jun 9, 2020 3:14am
https://www.yahoo.com/finance/news/c...211325498.html

"The stock, whose shrunken price was boosted by a 1-for-200 reverse stock split earlier this year, more than tripled at one point Monday to $84.75, then plunged to $52.05 after Bloomberg reported the potential Chapter 11 filing. A bankruptcy typically wipes out existing shareholders."
"If The Fool persists in his Folly he will become wise." - William Blake
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