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Let's Trade Options

  • #18,021
  • Mar 30, 2021 9:33am Mar 30, 2021 9:33am
Quoting moneymaker2
In the following: CCI Apr16 170 PUT $1.50 Should be good for some spending money....
Out of the following:

CCI Apr16 170 PUT @ $2.60 up from $1.50

Butting up against the 5EMA, plus lower stock volume than I would expect the first hour.

Anyway, decent money.....
  • #18,022
  • Mar 31, 2021 1:33am Mar 31, 2021 1:33am
today I took advantage of a down move in the spoos to buy some cheap insurance on my Apr16 SPX 4080/4011 bear calls - this in the form of Apr14 SPY $407/408 bull calls for 10c.

also bot some Apr1/5 SPY diag calls, will remember what they were later, but pennies debit to catch a run on $400. Maybe we see it off a big NFP print...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,023
  • Mar 31, 2021 1:39am Mar 31, 2021 1:39am
....so remember all the exchanges are closed Good Friday...but they will keep NFP on Friday...could be a little glitch in the Matrix there...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,024
  • Mar 31, 2021 2:18pm Mar 31, 2021 2:18pm
Quoting The Fool
....so remember all the exchanges are closed Good Friday...but they will keep NFP on Friday...could be a little glitch in the Matrix there...
That's a good point. I'm taking this time to do my quarterly update of the stocks I watch. I usually stretch it out for about 3 days as it is pretty boring to do, so I should be good to go by Monday.

Hope everyone has a good Easter....
  • #18,025
  • Mar 31, 2021 5:41pm Mar 31, 2021 5:41pm
Quoting The Fool
today I took advantage of a down move in the spoos to buy some cheap insurance on my Apr16 SPX 4080/4011 bear calls - this in the form of Apr14 SPY $407/408 bull calls for 10c. also bot some Apr1/5 SPY diag calls, will remember what they were later, but pennies debit to catch a run on $400. Maybe we see it off a big NFP print...
actually was trying leg in to Apr1/5 SPY calls, yesterday bot the Apr5 $402 calls for 20c; just sold them for 53c today, never look a gift hoss in the mouth....

I think we are in for a bullish April.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,026
  • Mar 31, 2021 11:05pm Mar 31, 2021 11:05pm
Still looking for an easy monthly income trade. The following sizes good on a $25k account; a 30-day cycle:

Sell 8-10 delta $3-wide SPX verts @ 30 dte; buy $1-wide bull verts about 50 pts in from the short strike of the credit spreads. The credit from the credit spreads covers the debit from the inner verts. In the example below, the credit spreads give $1,750. The first frame shows the set at the Apr 30 expiry. The mo would be to get the remaining verts to the following week and close them for the remaining profit. The second frame shows the May15 verts on May03, min. combined profit a little over $800, maybe 3x that on good movement. Min return 10%/month. Need some hard rules...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,027
  • Apr 1, 2021 9:59am Apr 1, 2021 9:59am
TF, is your monthly goal a minimum 10% profit off the $25K (>$2500/month) or 10% off the total credit?
  • #18,028
  • Apr 2, 2021 6:54am Apr 2, 2021 6:54am
Quoting moneymaker2
TF, is your monthly goal a minimum 10% profit off the $25K (>$2500/month) or 10% off the total credit?
rolling 10% of account value; those hedged ic's can work well in a market that doesn't move too hard. In this perpetual bull, it might pay better to just go long calls and fund them with put credit spreads (aka "super bull")
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,029
  • Apr 2, 2021 8:35am Apr 2, 2021 8:35am
Quoting The Fool
Still looking for an easy monthly income trade. Need some hard rules...
Short OTM VIX Calls 20-30 days out is an easy monthly income trade depending on your broker and margin requirements. Rules being you only enter trades when the VIX futures are in contango and when the first month goes over the second month you take your losses and close out. This rule is key as closing out when the futures go into backwardation will save you from blowing up the account. I was making 10-20% a month from 2015-2017 (with one or two 20% down months in there too) until IBKR raised the margin requirements to absurd levels. People like to buy these calls as a hedge/lotto ticket (it's a pretty shitty way to hedge) so they are almost always overpriced.
  • #18,030
  • Apr 2, 2021 6:26pm Apr 2, 2021 6:26pm
Just found out that option runs 24/7 wow even over easter and none of this 30:1 leverage
omg there goes the rest of my life lol

Only on demo at the moment but its so cool for experienced traders

im using the pocket one
  • #18,031
  • Apr 3, 2021 11:52am Apr 3, 2021 11:52am
Quoting AngieT
Just found out that option runs 24/7 wow even over easter and none of this 30:1 leverage omg there goes the rest of my life lol Only on demo at the moment but its so cool for experienced traders im using the pocket one
you can't trade options 24/7

https://www.cboe.com/about/hours/us-options/
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,032
  • Apr 3, 2021 1:05pm Apr 3, 2021 1:05pm
Quoting BTCmailman
{quote} Short OTM VIX Calls 20-30 days out is an easy monthly income trade depending on your broker and margin requirements.
I don't have the margin for it & I'm thinking r:r on SPX credit spreads is better.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,033
  • Dec 25, 2021 8:03pm Dec 25, 2021 8:03pm
COVERED CALL ETFs

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"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,034
  • Dec 25, 2021 8:36pm Dec 25, 2021 8:36pm
ETY

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"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,035
  • Edited 8:42pm Dec 26, 2021 8:25pm | Edited 8:42pm
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,036
  • Apr 14, 2022 7:05pm Apr 14, 2022 7:05pm
Hello, guys, I'm back! Didn't plan to be gone this long but was posting on some other sites and time just got away from me and before I knew it a YEAR had passed. Still doing what I've been doing, so no changes there. Just wanted to stop by and see if the thread is still active or if anyone interested in the live trade postings like before. Hope everyone has weathered COVID and inflation and gas prices and all the other bumps in the road of life.
  • #18,037
  • Edited 8:51pm May 25, 2022 8:32pm | Edited 8:51pm
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still at it. been very busy with a lot of things besides trading, but trading has been very good. I tend to trade on the weeklies and I am looking for weekly revenue on some smaller 6-fig accounts. Targeting 1% a week return on average. I'll post some ideas and see if anyone wants to respond.

Anyone who remembers my style from before will see not much has changed. Although it kinda has. Trading is more routine. Still trading the big volume issues - SPX the fave, close 2nd SPY, also DIA, IWM, TLT, HYG, etc etc. Prolly >80% of my volume in SPX & SPY. Still trading around binary events, when they are reliable (as if) ... like the time spread above meant to catch a move into and/or beyond the next non-farm payroll read on Jun 3. I made my nut on a scalp today - a SPY $392/$396 strangle, bot when SPY was plodding along around $394 a couple hrs b4 Fed minutes. Puts went to $0 but calls went to $3 or better and I took off a lot at about a dollar profit from a $1.60 entry on the strangle.

I will load back some of that profit into the payrolls trade. After that there's the June FOMC. I'm bearish generally but I think there's room for a rally into the first couple weeks of June.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,038
  • May 26, 2022 11:59am May 26, 2022 11:59am
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QQQ diagonal calls, typical weekly play, in for a nickel out for 60c today. Max profit was around $0.70-0.75, cashed out as Qs threaten to overshoot the short leg.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,039
  • Edited May 27, 2022 10:56am May 26, 2022 8:39pm | Edited May 27, 2022 10:56am
CCL earnings out 6/22, cheap calenders Jun17/24 gets you in position to catch a spike off the ER with beaucoup long calls
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,040
  • May 26, 2022 9:08pm May 26, 2022 9:08pm
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"If The Fool persists in his Folly he will become wise." - William Blake
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