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Let's Trade Options

  • #19,101
  • Nov 10, 2023 12:33pm Nov 10, 2023 12:33pm
Out of the following:

D Nov17 45 PUT at $0.725 avg

Its butting up against the 5EMA for the second day, so I'm done with it. Not a whole lot of coin, but it will spend.
  • #19,102
  • Nov 10, 2023 12:36pm Nov 10, 2023 12:36pm
I'm done for the week. Up yours (profit, that is ) and hope everyone has a good weekend.
  • #19,103
  • Nov 10, 2023 7:01pm Nov 10, 2023 7:01pm
This Moody's news came out in the hour after the close ... could get the whipsaw ready for Monday...
https://www.cnbc.com/2023/11/10/mood...-deficits.html
"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,104
  • Nov 12, 2023 6:29am Nov 12, 2023 6:29am
I continue to grind forward, still looking for the best way to trade options for consistent daily/weekly income. Some interesting pro tools I might use....

1) Option Omega - Use for backtesting strategies in SPX, SPY, QQQ, IWM. $99/mo or $50/mo if you buy a year.

https://optionomega.com/

2) Option Strat - strategy builder. There's a $60/mo or a $20/mo version. I generally get what I need from ToS, and its full capability is free, but they aren't doing anything to improve it, from what I can see. I like the look of this OptionStrat & will give it a try to see if they are adding functionality over ToS. If it's useful, $20/mo is not much.

https://optionstrat.com/

3) Alpha Crunching - specific to SPX 1dte 0dte traders, includes proprietary indicators and time series analysis, plus a large community of like traders to hobnob with online. $30/month

https://www.alphacrunching.com/
"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,105
  • Nov 12, 2023 7:38am Nov 12, 2023 7:38am
Diamond Nest Egg youtube channel a good source of info on all kinds of fixed income investing topics

Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,106
  • Nov 12, 2023 4:55pm Nov 12, 2023 4:55pm
Quoting The Fool
I continue to grind forward, still looking for the best way to trade options for consistent daily/weekly income.
"Fool, come to the Dark Side (ckewww..tchhhhh...ckewww...tchhhh...) of Puts and Calls." ......"Mmmm, Profit you seek? Puts and Calls you need. Yes..." (Can you tell who just watched Star Wars again?)

Puts and Calls have been very profitable to me for many years, might be something to look into a little more. That being said, you can't do it with one or two contracts. You could probably do 5 and make money to build up your account but I recommend 10 minimum, and that is usually something less than $1500. Build it up and diversify and do two or more different options. Build it up some more and have the cash to do some dollar cost averaging to lower your profit point if it still looks good but moved against you.. Doesn't take long to bring in very good money, especially if you get good at predicting short term movement (or long term if you like plays farther out).

Anyway, just another option for you. ( see what I did there?)
  • #19,107
  • Nov 12, 2023 10:07pm Nov 12, 2023 10:07pm
Quoting moneymaker2
{quote} "Fool, come to the Dark Side )
lol...thanks, amigo...I'm doing alright. 2022 was a spectacular year, where I tripled some accounts...2023, not so much...kind of sideways. I am trying a lot of new things, with mixed results. Trading futures more. Trying different strats @ 1dte, 0dte index spreads. I think I will be alright. I doubt if I would ever get into shooting long calls/puts on individual names. But that's just me.....I'll always be a spreader.

I'll likely be retiring in the next year or so, looking to make trading my primary income. Need to get all my retirement accounts up in the 6-fig zone. I have been converting various IRA's all to Roth IRA's, so I can trade them tax-free til I am too senile to do it anymore.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,108
  • Edited Nov 13, 2023 10:20pm Nov 12, 2023 10:22pm | Edited Nov 13, 2023 10:20pm
The gamma guru says this opex week will be a play for another big call wall at 4,500. I have SPX AM/PM diagonal queued up for that, as shown below. Also, if we start pushing up that way, I will be selling bear call verts above that level, @ 0dte's. I entered some RUT put diagonals on Friday, to cover the south end. Small caps will suffer more if the bond vigilantes come back in force. I expect they will want to, but we shall see. We are in a heavy seasonal bull current. I am not going to get bearish in any size, just hedging south more or less....

If the call wall at 4,450 holds, this will be a nearly risk-free trade - on a 20-lot, risk $100 to make > $5k. I tried filling at $4,500 Friday, glad that didn't pan out & I'll try again Monday for 4,450.

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"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,109
  • Nov 12, 2023 10:41pm Nov 12, 2023 10:41pm
Quoting The Fool
This Moody's news came out in the hour after the close ... could get the whipsaw ready for Monday...
....I bet will be just a little bump in the northbound lane.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,110
  • Nov 12, 2023 10:54pm Nov 12, 2023 10:54pm
check it nearly 5 to 1 put skew at the money....with luck we will see a dip in the first hour and I will be selling some SPX put verts into that.
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,111
  • Nov 13, 2023 7:45am Nov 13, 2023 7:45am
Quoting The Fool
The gamma guru says this opex week will be a play for another big call wall at 4,500. I have SPX AM/PM diagonal queued up for that,
...filled SPX/SPXW 4465/4470 for 10-15c. Looking for RUT Nov17/20 calendar calls @ 1,760 for 80c or lower. Have same calendar puts @ 1,600 for 50c.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,112
  • Nov 13, 2023 10:46am Nov 13, 2023 10:46am
Out of the following:

CHK Nov17 80 CALL at $0.60 up from $0.375 avg

QCOM Nov17 122 PUT at $1.05 up from $0.775


Have a Hail Mary Bid in for:

QCOM Nov17 123 PUT at $0.90
  • #19,113
  • Nov 13, 2023 10:48am Nov 13, 2023 10:48am
Quoting The Fool
{quote}lol...thanks, amigo...I'm doing alright.
I know you are, TF, you are definitely good at the spread stuff, something I certainly am not. Keep doing what you're doing, and retirement will be a lot of fun!
  • #19,114
  • Edited 3:44pm Nov 13, 2023 2:12pm | Edited 3:44pm
Well, Bid was hit, so in the following:

QCOM Nov17 123 PUT at $0.90

If I would have been at the computer, I could have probably got it for $0.80-$0.85, but this should be good for some money.

So, following positions are open:

QCOM Nov17 119 PUT at $0.89 avg

QCOM Nov17 123 PUT at $0.90

DHI Nov17 118 PUT at $0.65

VEEV Nov17 $1.70 CALL at $1.05 avg

Let's see if we can't get some profitable movement on these in the next few days...
  • #19,115
  • Nov 13, 2023 9:45pm Nov 13, 2023 9:45pm
ALL I have besides the SPX AM/PM diagonal calls is the RUT put calendars shown. I am bullish, but I could see a drop coming off of high inflation reads. I'd be very ok with that. I spent about 10x as much on the RUT puts as I did on the SPX calls. The RUT puts will pay a lot better if they got a good finish Thursday. Time spreads always will pay better on rising iv - i.e., on a down move. It has been hard to catch those though, lo these many years....

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"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,116
  • Nov 13, 2023 9:49pm Nov 13, 2023 9:49pm
Quoting The Fool
I am bullish, but I could see a drop coming off of high inflation reads....
...not to mention the old govt shutdown drama.....markets seem to be numbed to it, but that could have an effect late in the week, if it looks like there won't be a deal....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,117
  • Nov 14, 2023 7:35am Nov 14, 2023 7:35am
Quoting The Fool
{quote}...filled SPX/SPXW 4465/4470 for 10-15c. Looking for RUT Nov17/20 calendar calls @ 1,760 for 80c or lower. Have same calendar puts @ 1,600 for 50c.
Fail...big gap up bit me & I took a $1.25 loss. I usually hedge these but did not this time & that was dumb. I re-entered @ 4,555/4,560 calls, the Santa meltup could continue to new ath's....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,118
  • Nov 14, 2023 8:57am Nov 14, 2023 8:57am
Out of the following:

VEEV Nov17 170 CALL at $4.40 up from $1.05 avg

Nice little chunk of change.

I'll see if I can't salvage anything from the DHI or QCOM trades to make them towards break-even....should be able to do something here....

In the following:

DHI Nov24 126 PUT at $0.75

QCOM Nov24 124 PUT at $0.60
  • #19,119
  • Nov 14, 2023 12:51pm Nov 14, 2023 12:51pm
Bid out for the following:

APH Dec15 85 PUT at $0.50

May go to Ask of $0.55 before the close If Bid doesn't get hit.

Lots of PUTs will be in play over the next few days.....
  • #19,120
  • Nov 14, 2023 1:00pm Nov 14, 2023 1:00pm
Quoting moneymaker2
Bid out for the following: APH Dec15 85 PUT at $0.50 May go to Ask of $0.55 before the close If Bid doesn't get hit. Lots of PUTs will be in play over the next few days.....
Okay, wouldn't split the Bid/Ask, so I paid the Ask for the following:

APH Dec15 85 PUT at $0.55

Should still be good for some money....
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