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Let's Trade Options

  • #18,661
  • Mar 23, 2023 2:30pm Mar 23, 2023 2:30pm
Cashed out Mar24/27 SPX 3800 calendar puts for $6 (net gain $4.75) - took off 75% and will let the rest run til tomorrow (unless there's a big dump at the close, I'll take the rest then also.)
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,662
  • Mar 23, 2023 8:14pm Mar 23, 2023 8:14pm
when will it all come pouring back into stocks?
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,663
  • Mar 24, 2023 8:59am Mar 24, 2023 8:59am
OUT of all bearish trades, all came off solid 2x to almost 4x, been a roller coaster, but after all the drama it got me about 8%. New trades can wait til Monday or later.

I'll be trying not to think about trading for a few days. Happy Spring all.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,664
  • Mar 26, 2023 12:13am Mar 26, 2023 12:13am
I sense some calmness coming back into the news flow. Admittedly though, I've only been watching basketball. Anyway, the EM for SPX by Mar31 is 90 - putting us in reach of 4,100 by Friday, no problem. Cheap thrills is the Mar31/Ap3 SPX 4120 calendar calls, mine Monday for $1.25 +/-...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,665
  • Mar 26, 2023 1:10am Mar 26, 2023 1:10am
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Leaning on RUT for bear action, hedging diag tail risk with IWM verts.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,666
  • Mar 26, 2023 12:31pm Mar 26, 2023 12:31pm
Quoting The Fool
{image} Leaning on RUT for bear action, hedging diag tail risk with IWM verts.
Have you tried the exotic barrier options on futures? Pretty much guaranteed profit without any graphs or whatnot.
  • #18,667
  • Mar 26, 2023 1:54pm Mar 26, 2023 1:54pm
Quoting costos
{quote} Have you tried the exotic barrier options on futures? Pretty much guaranteed profit without any graphs or whatnot.
I don't need to dabble in flaky junk, I'm focused on the largest and most liquid options traded in the most transparent way on US exchanges thru US brokers who provide as much deposit insurance as is allowed by US law.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,668
  • Mar 26, 2023 2:14pm Mar 26, 2023 2:14pm
From 9 months ago, shitz getting old....Q4 '22 GDP data out Thursday

https://www.bloomberg.com/news/newsl...cession-begins
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,669
  • Mar 26, 2023 2:22pm Mar 26, 2023 2:22pm
Quoting The Fool
{quote}I don't need to dabble in flaky junk, I'm focused on the largest and most liquid options traded in the most transparent way on US exchanges thru US brokers who provide as much deposit insurance as is allowed by US law.
Any US brokers actually insure accounts used for options trading?
  • #18,670
  • Mar 26, 2023 2:41pm Mar 26, 2023 2:41pm
Quoting costos
{quote} Any US brokers actually insure accounts used for options trading?
Commonly, thru FDIC and/or SIPC, up to limits - $250k or $500k commonly, but some brokers add to that, up to larger limits. Where I'm trading is a broker owned by a US prime dealer bank and they say they offer account insurance up to an aggregate limit of $1bio. When I get that big I'll buy you a beer, costos.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,671
  • Edited 1:18pm Mar 27, 2023 12:10pm | Edited 1:18pm
SPX put diag for the week, the 1-lot bear put vert is actually a 10-lot SPY vert @ the ~same cost. I'm trading pretty light either way this week as I think we're in doji country.

...added SPX calendar calls, Mar31/Apr3 4105 for $1.15
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,672
  • Mar 28, 2023 1:26am Mar 28, 2023 1:26am
Good Friday NFP, data will come out per usual on 4/7, but equity & options exchanges are closed
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,673
  • Mar 28, 2023 2:38am Mar 28, 2023 2:38am
we are 3-4 weeks out from the heart of Q1 earnings season. Now is about when I start looking for good names for earnings trades. Looking for a bottoming ivs, dbl calendars my preferred setup. Rising ivs into the ER date will put the entire range of the p/l in profit, I put on good size with these and take most off on the last td b4 the ER.
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,674
  • Mar 28, 2023 3:12am Mar 28, 2023 3:12am
AMZN ....modeled with a 20% iv gain....that usually comes in the last few days b4 ER. I don't trade story stock options much anymore but I do like these ER plays. Another thing to like is the calendars go on w/o a margin hit, so they don't bog me down...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,675
  • Mar 28, 2023 1:56pm Mar 28, 2023 1:56pm
Quoting The Fool
I'm trading pretty light either way this week as I think we're in doji country. ...added SPX calendar calls, Mar31/Apr3 4105 for $1.15
looking like a <$30 daily range for SPX today, was $33 yesterday, comatose market maybe will bust a move Thurs-Fri. I need a Friday break to <3900 or >4020 to make some money.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,676
  • Mar 29, 2023 5:14pm Mar 29, 2023 5:14pm
Quoting The Fool
{quote} I need a Friday break to <3900 or >4020 to make some money.....
....Sitting @ BE on everything today, holding for a decent finish Thurs-Fri. Need to see bulls build consensus - Asia, the EZ, US, equities, bonds - all bull for the gipper. 4,100 is doable, a Friday pin there would make me smile.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,677
  • Mar 30, 2023 12:27am Mar 30, 2023 12:27am
I will keep throwing my harpoon at this, my White Whale....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,678
  • Mar 30, 2023 2:54am Mar 30, 2023 2:54am
Quoting The Fool
{quote}....Sitting @ BE on everything today, holding for a decent finish Thurs-Fri. Need to see bulls build consensus - Asia, the EZ, US, equities, bonds - all bull for the gipper. 4,100 is doable, a Friday pin there would make me smile.
setting close orders for about $4.85 net out on SPX call calendars, about 1/2 the load, if it can come off for that on Thursday amen.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,679
  • Mar 30, 2023 9:59am Mar 30, 2023 9:59am
Quoting The Fool
{quote}setting close orders for about $4.85 net out on SPX call calendars, about 1/2 the load, if it can come off for that on Thursday amen.
LOOKING for follow-thru on the gap up, slow coming, bringing target down to $4. Half off at $4 puts the weekly set into profit, can hold the balance for more bull Friday. Might take it all, though, rally seem to be bogged down.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #18,680
  • Edited Mar 31, 2023 9:58am Mar 30, 2023 8:54pm | Edited Mar 31, 2023 9:58am
Quoting The Fool
{quote}LOOKING for follow-thru on the gap up, slow coming, bringing target down to $4. Half off at $4 puts the weekly set into profit, can hold the balance for more bull Friday. Might take it all, though, rally seem to be bogged down.....
...left a lot on, looking for some end quarter fluffing. Gotta run the data gauntlet pre-market Friday.

.....out of all SPX calendars for $5, $3.85 net out a solid 3x....put side trades smaller now worthless. I might roll out short leg of the put SPX diag but it would only likely be for 20c or less, maybe not worth the bp hit. Nice weekly gain, 2-3%.....
"If The Fool persists in his Folly he will become wise." - William Blake
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