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Let's Trade Options

  • #19,201
  • Dec 12, 2023 9:24am Dec 12, 2023 9:24am
In the following:

SWKS Dec22 106 PUT at $1.40

DFS Dec22 101 PUT at $0.95

MDC Jan19 49 PUT at $1.55
  • #19,202
  • Dec 12, 2023 12:27pm Dec 12, 2023 12:27pm
Out of the following:

NTAP Dec15 91 PUT at $2.70 up from $1.50
  • #19,203
  • Dec 12, 2023 12:38pm Dec 12, 2023 12:38pm
Next time, is it possible to indicate if it is buy put or sell put?
Thank you for sharing!
doura Return Today: 0.1%
  • #19,204
  • Dec 12, 2023 8:28pm Dec 12, 2023 8:28pm
Quoting doura
Next time, is it possible to indicate if it is buy put or sell put? Thank you for sharing!
I only trade straight Puts/Calls, so it is always a buy to open the trade and a sell to close close the trade, it doesn't matter if it is a Call or a Put.

The only way you can sell a Put is if you have the actual stock and you are selling the Puts (or Calls) against the stock, or you are approved to do so without having the stock in hand, called naked selling. This is usually not too difficult to get approved to sell the Puts without the stock, but to get approved to sell the Calls without the stock is based on the experience level and a big big account balance. A really BIG account balance.

I hope this helps.
  • #19,205
  • Dec 12, 2023 8:38pm Dec 12, 2023 8:38pm
Quoting moneymaker2
Out of the following: NTAP Dec15 91 PUT at $2.70 up from $1.50
ggod one. has been tough to find shorts that pay in this everything bull run, which I think has plenty more to run on the Goldilocks fumes. Need JPow to say the right words tomorrow....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,206
  • Dec 12, 2023 8:50pm Dec 12, 2023 8:50pm
this is the SPX dbl diagonal for Thurs/Fri. I think a lot of dovish assumptions are already baked into the market, so not sure what else JPow can say to spur the rally. Risk is to the downside if he disappoints the bulls...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,207
  • Dec 13, 2023 1:06pm Dec 13, 2023 1:06pm
Out of the following:

DFS Dec22 101 PUT at $1.30 up from $0.90

Probably has more downside by then, but it is butting up against the 5EMA, so I'm out.
  • #19,208
  • Dec 13, 2023 1:43pm Dec 13, 2023 1:43pm
Quoting moneymaker2
Out of the following: DFS Dec22 101 PUT at $1.30 up from $0.90 Probably has more downside by then, but it is butting up against the 5EMA, so I'm out.
Talk about Karma!!.... looking at the chart, I got out on the lowest 30m candle before it screamed back up due to the Fed meeting. That's fine with me, because now I am looking to get back in to/add to the following before the close:

DFS Dec22 103/104 PUT

SWKS Dec22 107/108 PUT
  • #19,209
  • Dec 13, 2023 1:45pm Dec 13, 2023 1:45pm
Quoting The Fool
I think a lot of dovish assumptions are already baked into the market, so not sure what else JPow can say to spur the rally. Risk is to the downside if he disappoints the bulls... {image}
Well, he didn't disappoint the bulls....
  • #19,210
  • Dec 13, 2023 2:24pm Dec 13, 2023 2:24pm
In the following:

SWKS Dec22 109 PUT at $1.50

DFS Dec22 105 PUT at $1.45

May get some more upside today but I won't be at my computer for the close today, so went ahead and got in.
  • #19,211
  • Dec 13, 2023 3:46pm Dec 13, 2023 3:46pm
Quoting The Fool
this is the SPX dbl diagonal for Thurs/Fri. I think a lot of dovish assumptions are already baked into the market, so not sure what else JPow can say to spur the rally. Risk is to the downside if he disappoints the bulls...
JPow delivers once again for WS. I might avoid a loss on the call diag if they will set up SPX 4,700 a pinner. I put on some XSP call hedges early, so I will be ok to about 4,710-4,715. I rolled up put side calendars to 4,550. Those'll be in profit in the low 4,690s early tomorrow. As usual, I need a bit of luck, something I have never had much of...

I fear the overnight bull action....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,212
  • Dec 13, 2023 3:52pm Dec 13, 2023 3:52pm
That's seven green weeklies straight, near 15% bull run in 7 weeks, one for the history books. Nothing on the horizon to stand in the way either. The Fed relief rally, soft/no landing rally, money pouring out of cash into equities rally - all can keep going. Maybe next week a chance fr a red candle @ some year-end profit taking, we'll see.
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,213
  • Dec 14, 2023 10:54am Dec 14, 2023 10:54am
Quoting The Fool
{quote}JPow delivers once again for WS. I might avoid a loss on the call diag if they will set up SPX 4,700 a pinner. I put on some XSP call hedges early, so I will be ok to about 4,710-4,715. I rolled up put side calendars to 4,550. Those'll be in profit in the low 4,690s early tomorrow. As usual, I need a bit of luck, something I have never had much of... I fear the overnight bull action....
...still no luck for TF. Took a 1$ loss on the diagonal...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,214
  • Dec 15, 2023 3:10pm Dec 15, 2023 3:10pm
Entered near the close. If we get moves up Mon-Tues (I expect) then I will roll down the short leg $5 for good credit and a diagonal for the late week play
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,215
  • Dec 17, 2023 4:12pm Dec 17, 2023 4:12pm
I doubt if coming week will touch the exmove limits. Ususally see a bunch a dojis printing after monster up moves such as 12/13. Good time to sell some verts, which I will do, but not excited about that, as iv's are cratering down toward 10%. ATR cratering also down sub 40 in the spoos. There's another way I trade no-range markets, as shown below. In brief it's a double 4-5 day calendar, with some correlated verts @ either tail. Calendars go on @ 30-35 delta, ratio of the cldrs to the verts usually somewhere around 4 or 5:1. What usually hurts these combos is crashing iv's near expiry, but tbh, I don't think there's much further down iv's will go.
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,216
  • Dec 17, 2023 6:45pm Dec 17, 2023 6:45pm
Use XSP if SPX too beaucoup, & you an hedge the tails with SPX or SPY....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,217
  • Edited 7:56pm Dec 17, 2023 7:39pm | Edited 7:56pm
same idea for XSP, the calendars go on @ 30-35 delta, the tail hedge verts go on no further than 20 delta, want to buy verts @ $2-3 wide, ratio calendars to verts 2:1 to 4:1, depending on pricing of everything at trade time. If you have a directional bias, you can express that via put:call ratio sizing. I do better when I put on the whole combo at the same time. If I try to leg in one side or the other, to save a nickel, it usually doesn't work out.

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"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,218
  • Dec 17, 2023 9:30pm Dec 17, 2023 9:30pm
Q's I'd want more like $8 apart, hedge the tails with otm singles...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,219
  • Dec 17, 2023 10:10pm Dec 17, 2023 10:10pm
lol Tom Lee....everyone was trotting him out to laugh at a year ago & he just kept to his guns. Nobody did better than him with the long view...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,220
  • Edited Dec 20, 2023 12:43pm Dec 19, 2023 2:14pm | Edited Dec 20, 2023 12:43pm
A run over 4,800 to new ath would make my month. But employment and inflation data Thurs-Fri might spoil that party, so I will take some profits off Wed....

....took 1/2 off at $2 net
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"If The Fool persists in his Folly he will become wise." - William Blake
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