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Let's Trade Options

  • #19,341
  • Feb 14, 2024 12:20pm Feb 14, 2024 12:20pm
In the following:

DIS Mar15 110 PUT at $2.44

Weekly chart looks good for a drop, so I had to go out further than normally, which means a little more than I normally pay.

Also back in the following:

DIS Feb23 110 PUT at $1.29
  • #19,342
  • Feb 14, 2024 1:45pm Feb 14, 2024 1:45pm
Bid in on the following:

RL Mar15 170 PUT at $2.10

May or may not get hit.....
  • #19,343
  • Feb 14, 2024 2:32pm Feb 14, 2024 2:32pm
Added to the following:

DIS Mar1 109 PUT at $1.03, bringing he average down to $1.34

Now, just waiting on the weekly chart.....

Moved the RL Bid down to $2.00......let's see if anyone takes the bait.
  • #19,344
  • Feb 14, 2024 2:41pm Feb 14, 2024 2:41pm
In the following:

RL Mar15 170 PUT at $1.95
  • #19,345
  • Feb 14, 2024 2:45pm Feb 14, 2024 2:45pm
I probably shouldn't, and this is a true gambling trade if I do, but I might add to the DIS Feb13 110 PUT to lower my average cost.....I normally don't do any kind of "chance" trading, but I think I might on this one.....What could go wrong, right?!
  • #19,346
  • Feb 14, 2024 3:18pm Feb 14, 2024 3:18pm
Quoting moneymaker2
I probably shouldn't, and this is a true gambling trade if I do, but I might add to the DIS Feb13 110 PUT to lower my average cost.....I normally don't do any kind of "chance" trading, but I think I might on this one.....What could go wrong, right?!
Well, I added to the following right at the close:

DIS Feb23 110 PUT at $0.82, bringing the average down to $1.11

I have to admit, that was pretty fun moving the Bid around as fast as you can. Reminds me of when I used to day trade. Real day trading...like seconds count-type trading.

Now, let's see if the price of that adrenaline ticket was worth it......
  • #19,347
  • Feb 14, 2024 3:24pm Feb 14, 2024 3:24pm
So, these are what are open now:

LVS Feb23 54 PUT at $1.11

DIS Feb23 110 PUT at $1.11 average

DIS Mar1 109 PUT at $1.34 average

DIS Mar1 110 PUT at $1.51

DIS Mar15 110 PUT at $2.44

RL Mar15 170 PUT at $1.95

And now, we wait....
  • #19,348
  • Feb 15, 2024 12:32am Feb 15, 2024 12:32am
Quoting moneymaker2
So, these are what are open now: LVS Feb23 54 PUT at $1.11 DIS Feb23 110 PUT at $1.11 average DIS Mar1 109 PUT at $1.34 average DIS Mar1 110 PUT at $1.51 DIS Mar15 110 PUT at $2.44 RL Mar15 170 PUT at $1.95 And now, we wait....
Well, DIS seems to give you lots of trade signals - Good luck
I am also in on DIS Mar 1 110 PUT and will add LYFT Mar 1 16 PUT to the list
  • #19,349
  • Feb 15, 2024 8:41am Feb 15, 2024 8:41am
Quoting The Fool
{quote} I might take the AM/PM 5020 calendar calls off @ 2x today if I see it. In for $1.30 now showing near $2.00....
...in for $1.30, out for $$3.50
"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,350
  • Feb 15, 2024 2:35pm Feb 15, 2024 2:35pm
Quoting The Fool
{quote}...in for $1.30, out for $$3.50
Good job, TF, that's a good trade in any language!
  • #19,351
  • Feb 15, 2024 2:48pm Feb 15, 2024 2:48pm
Quoting ngson99
{quote} Well, DIS seems to give you lots of trade signals - Good luck I am also in on DIS Mar 1 110 PUT and will add LYFT Mar 1 16 PUT to the list
It gives me two signals, one on the daily chart and one on the weekly chart, I just decide the different strike prices and expiration dates.

Just be careful with a stock like LYFT that trades low priced, because it may not have the liquidity in the options as the higher priced stocks. If the stock chart had $0.50 increments, I don't even watch it, but that is just me. LYFT should be fine, though, as long as you don't go too far out of the money with the Put.

I like the higher priced stocks because it is just easier for something trading $150/share to move $4 than it is for something trading $12/share.
  • #19,352
  • Feb 15, 2024 5:24pm Feb 15, 2024 5:24pm
Quoting moneymaker2
{quote} It gives me two signals, one on the daily chart and one on the weekly chart, I just decide the different strike prices and expiration dates. Just be careful with a stock like LYFT that trades low priced, because it may not have the liquidity in the options as the higher priced stocks. If the stock chart had $0.50 increments, I don't even watch it, but that is just me. LYFT should be fine, though, as long as you don't go too far out of the money with the Put. I like the higher priced stocks because it is just easier for something trading...
ok, thanks for the tip, I got what you meant. Got burnt today with LYFT. Hopefully next trade will be a better one.
  • #19,353
  • Feb 15, 2024 8:05pm Feb 15, 2024 8:05pm
we will see if a little upside miss on PPI can get a pullback started. Plus there's some Fedspeak scheduled. Next week is a slow week with just FOMC minutes on Wed, earnings winding down....

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"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,354
  • Feb 15, 2024 9:03pm Feb 15, 2024 9:03pm
Quoting ngson99
{quote} ok, thanks for the tip, I got what you meant. Got burnt today with LYFT. Hopefully next trade will be a better one.
Did you get into a Call or a Put? What strike price and expiration date?

The LYFT Mar1 19 PUT at around $1.13 should be a decent trade. Gives it two weeks to drop. Remember you can sell it at any time before expiration, so it doesn't have to reach the strike price to make money, the option price just needs to be more than what you paid for it.
  • #19,355
  • Feb 15, 2024 9:40pm Feb 15, 2024 9:40pm
Quoting The Fool
we will see if a little upside miss on PPI can get a pullback started. Plus there's some Fedspeak scheduled. Next week is a slow week with just FOMC minutes on Wed, earnings winding down.... {image}
Yeah, the SPY weekly chart still looks good for a drop (but like I said, not a perfect chart, but should still work) in the next week or so. Harder to pinpoint off a weekly chart, but I'm trying to use them more than I have been for some longer term trades. The 10EMA repainted to about 483.5 from 482 due to the overall rise in the weekly candle after today.

I may do a theory-to-practice trade off the weekly chart tomorrow, maybe for about 2-3 weeks out and 490 Put.
  • #19,356
  • Feb 15, 2024 10:09pm Feb 15, 2024 10:09pm
Quoting moneymaker2
{quote} Did you get into a Call or a Put? What strike price and expiration date? The LYFT Mar1 19 PUT at around $1.13 should be a decent trade. Gives it two weeks to drop. Remember you can sell it at any time before expiration, so it doesn't have to reach the strike price to make money, the option price just needs to be more than what you paid for it.
It's a LYFT Mar 1 16 PUT at 0.47. Will give the 19 PUT a think ...
  • #19,357
  • Feb 15, 2024 10:49pm Feb 15, 2024 10:49pm
Quoting ngson99
{quote} It's a LYFT Mar 1 16 PUT at 0.47. Will give the 19 PUT a think ...
Well, if you haven't sold it yet, there are a couple of ways you can handle it:

1) You can add to your 16 Put at around $0.20, which would bring your average down to $0.335 (assuming the same number of contracts). Right now the Delta is showing around $0.12 for every dollar drop, but that changes during trading, this is just the static number.
2) Buy another Put at a strike price closer to the trading price to make up for any monies lost on the 16 Put.
2) Just hold what you've got and see how much and how quickly it drops.

Remember, it doesn't have to GET to that strike price, just head towards it, so with the Mar1 16 PUT at $0.20 at the close today, if it drops to say, $18 in the next day or so, that $0.20 option will be worth around $0.35 or more, depending on how fast it drops. If it goes to $17, the option will be worth around $0.50+.

Trades need to breath, and quite often will go against you for a short time after you buy, just because it is nearly impossible to call every high and low. No need to panic, though, because you have not actually lost any money until you close your trade, and Mar1 is a long ways away in trading terms. I often add to a position to lower the average cost if I still believe in the trade. But there is still plenty of time for the option to come back into the money, even if you don't lower the average.
  • #19,358
  • Feb 15, 2024 10:52pm Feb 15, 2024 10:52pm
A few I'll look at in the morning:

AKAM Call
QDEL Call
FANG Put
GE Put
WM Put
YUM Put

Have to see what's going on pre-market, but these are what is on the radar for tomorrow or Monday.
  • #19,359
  • Feb 15, 2024 11:57pm Feb 15, 2024 11:57pm
Quoting The Fool
we will see if a little upside miss on PPI can get a pullback started. Plus there's some Fedspeak scheduled. Next week is a slow week with just FOMC minutes on Wed, earnings winding down....
I forgot to mention NVDA earnings next week - if that sold off heavy it could drag everything down...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #19,360
  • Feb 16, 2024 5:04am Feb 16, 2024 5:04am
Quoting moneymaker2
{quote} Well, if you haven't sold it yet, there are a couple of ways you can handle it: 1) You can add to your 16 Put at around $0.20, which would bring your average down to $0.335 (assuming the same number of contracts). Right now the Delta is showing around $0.12 for every dollar drop, but that changes during trading, this is just the static number. 2) Buy another Put at a strike price closer to the trading price to make up for any monies lost on the 16 Put. 2) Just hold what you've got and see how much and how quickly it drops. Remember, it doesn't...
Thanks MM2 for the input. I liked the option 3 - wait and see how it goes for the next 2 weeks.
Trade well
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