Attachments: Let's Trade Options

Let's Trade Options

#19,921
Jan 24, 2025 11:45am Jan 24, 2025 11:45am

The Fool
Joined Apr 2009 | Status: Live and learn. | 25,302 Posts

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{quote}Took off around 1/2 of the SPX call fly just before Trump began to address Davos. In for $1.50 out for $4.30....

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nope, SPX overshot the right fly wing and I ended up cashing it out at b/e $1.50....my typical luck will be SPX falls back to just below 6090 at the close and I will have left $10k on the table....

"If The Fool persists in his Folly he will become wise." - William Blake

#19,922
Jan 25, 2025 12:44am Jan 25, 2025 12:44am

The Fool
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{quote} nope, SPX overshot the right fly wing and I ended up cashing it out at b/e $1.50....my typical luck will be SPX falls back to just below 6090 at the close and I will have left $10k on the table....

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Yep, not long after I bailed SPX slid all the way to my fly guts at 6090.....the way to trade these is really to take good profit early if you can....a day or so early in a 1-week fly; then just leave some on to run to the last hour, if it looks like that is in the cards. I probably have lost money by holding, the occasional big winner at 0dte not enough to cancel losses....

"If The Fool persists in his Folly he will become wise." - William Blake

#19,923
Jan 31, 2025 11:52am Jan 31, 2025 11:52am

The Fool
Joined Apr 2009 | Status: Live and learn. | 25,302 Posts

for bigtech earnings week I had this double QQQ calendar, 30c a side. Took off the calls for $1.60, with QQQ sitting on $530, cleared a buck. Puts worthless..

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"If The Fool persists in his Folly he will become wise." - William Blake

#19,924
Jan 31, 2025 11:56am Jan 31, 2025 11:56am

The Fool
Joined Apr 2009 | Status: Live and learn. | 25,302 Posts

I really want to load some hi-risk, hi-reward trades to catch a market slide on tariff news, but if I do, they will be small.....I think the continuing bluster about tariffs is not going to be followed through with any shock and awe. Or, markets just won't care so much. It'll be interesting. I'll keep trading bidrectionally.

"If The Fool persists in his Folly he will become wise." - William Blake

#19,925
Jan 31, 2025 1:39pm Jan 31, 2025 1:39pm

The Fool
Joined Apr 2009 | Status: Live and learn. | 25,302 Posts

filled some at $4....

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"If The Fool persists in his Folly he will become wise." - William Blake

#19,926
Edited 2:34pm Jan 31, 2025 2:03pm | Edited 2:34pm

The Fool
Joined Apr 2009 | Status: Live and learn. | 25,302 Posts

filled a put fly also (for $1.20)

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"If The Fool persists in his Folly he will become wise." - William Blake

#19,927
Feb 1, 2025 10:43am Feb 1, 2025 10:43am

The Fool
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I really want to load some hi-risk, hi-reward trades to catch a market slide on tariff news, but if I do, they will be small.....I think the continuing bluster about tariffs is not going to be followed through with any shock and awe. Or, markets just won't care so much. It'll be interesting. I'll keep trading bidrectionally.

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Def can see steep declines happening in the coming week or so with tariff drama. Longer term, the folly of Trump's gambit may be seen with rising long bond rates, rising inflation, no relief in the high cost of groceries. I'll be looking for the bond vigilantes to return in force. The Fed will not cut in March. And Trump will cynically direct the maga congress to shut down the Federal govt by Mar 14. Beware the Ides of March, indeed.

I call it a dagvert - it's an inverted diagonal, my fave to catch big moves. Nicer margin treatment than a typical diagonal, more capital risk but much higher reward. As shown, targeting a 10% pullback in the next 6 weeks, risking <$3.5k to make max $95k.

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"If The Fool persists in his Folly he will become wise." - William Blake

#19,928
Feb 2, 2025 8:50pm Feb 2, 2025 8:50pm

The Fool
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filled some at $4....

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...the Feb14/18 SPX put dagvert shown above....netting $10 already on the Sunday night >2% down move. I only have about 10 of these, will take a few off early, let the rest run

"If The Fool persists in his Folly he will become wise." - William Blake

#19,929
Feb 3, 2025 9:29am Feb 3, 2025 9:29am

Penguinvestr
| Joined May 2016 | Status: Trader | 15 Posts

Just came across your thread, admittedly I'm not on FF much aside from looking at the economic calendar. I taught myself about options years ago but only seriously started playing with them last summer. Looking forward to following and sharing

#19,930
Feb 4, 2025 8:38am Feb 4, 2025 8:38am

The Fool
Joined Apr 2009 | Status: Live and learn. | 25,302 Posts

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Just came across your thread, admittedly I'm not on FF much aside from looking at the economic calendar. I taught myself about options years ago but only seriously started playing with them last summer. Looking forward to following and sharing

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Hi Penguin, feel free to post trades or questions, anything. Pretty lonely in here these days....

"If The Fool persists in his Folly he will become wise." - William Blake

#19,931
Feb 4, 2025 8:40am Feb 4, 2025 8:40am

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{quote}...the Feb14/18 SPX put dagvert shown above....netting $10 already on the Sunday night >2% down move. I only have about 10 of these, will take a few off early, let the rest run

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You snooze you lose with any short delta trades, as btfd always there, waiting a minute (max) to come back.

I closed all put trades at the open, decent profit but much smaller than what I'd hoped. Flat now, looking at the board....

"If The Fool persists in his Folly he will become wise." - William Blake

#19,932
Feb 4, 2025 2:47pm Feb 4, 2025 2:47pm

The Fool
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net long deltas for Friday, the SPX BWB is hedged with some Feb7 XSP $610 long calls....targeting a Friday pin @ 6100

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#19,933
Feb 6, 2025 1:38am Feb 6, 2025 1:38am

The Fool
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I must keep the dream alive....

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"If The Fool persists in his Folly he will become wise." - William Blake

#19,934
Feb 6, 2025 11:05am Feb 6, 2025 11:05am

The Fool
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net long deltas for Friday, the SPX BWB is hedged with some Feb7 XSP $610 long calls....targeting a Friday pin @ 6100

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the BWB returning 50c now. The XSP $610 hedges gained 25c. I am inclined to cash it in but will let a few run. I am thinking SPX will rally Fri on a good NFP. "Fun" to try to catch that theoretical maximum but I am more about hoovering that cash when it's there. If SPX dumps Friday the combo would lose money...

I have several variations of this combo across multiple accounts....one is 6095/6110/6130, also with XSP $610 long calls....that one I will keep to run to Friday close...

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