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Let's Trade Options

  • #101
  • May 17, 2013 4:21pm May 17, 2013 4:21pm
Quoting The Fool
{quote} I like that chop from last May - >$40 to <$30 in 6 weeks or so. My problem is I need to throw out all my macro biases (like hey you can't jack up the USD and Oil at the same time yo!) cuz in a hyperliquified marketplace anything can happen...
ya man... the R:R def works.... and for sure this is no market to have any sort of real bias in....

if i was going to have any definate macro bias in oil though Id have to agree it would be up
  • #102
  • May 17, 2013 4:23pm May 17, 2013 4:23pm
hey, ya'll have a good weekend - gotta get some work done - peace.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #103
  • May 17, 2013 4:24pm May 17, 2013 4:24pm
later TF
  • #104
  • May 17, 2013 4:24pm May 17, 2013 4:24pm
Quoting Wulfgar
{quote} def a push and pull between oil and the $dxy... typically this type of $dxy strength would be killing oil.... getting ready for some sort of massive breakout?
Benanke talks tomorrow (strange day) he may say something that will gap markets for monday
  • #105
  • May 17, 2013 4:25pm May 17, 2013 4:25pm
Quoting The Fool
hey, ya'll have a good weekend - gotta get some work done - peace.
u2
  • #106
  • May 17, 2013 4:26pm May 17, 2013 4:26pm
Quoting Wulfgar
later TF
gotta go to, later wulfgar
  • #107
  • May 17, 2013 4:28pm May 17, 2013 4:28pm
Quoting Cecil Gee
{quote} gotta go to, later wulfgar
later CG... have a nice weekend... will def be keeping an eye on the Bernanke speech tmmrw
  • #108
  • May 17, 2013 5:52pm May 17, 2013 5:52pm
The Fool, still lives, long live the Fool


I used to trade Options many many many years ago, 13 or 14 I'd guess SCAREY, as long as the market has strength and is moving well you'll generally make $$$'s, lose some, make 300% on others, just stay out of slow sideways periods cause that's just a lose lose lose game.


No SL worries, fixed max losses, down side ofcourse is time is your enemy as your value drops.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #109
  • May 17, 2013 6:35pm May 17, 2013 6:35pm
I like simple option strategies. On the upside I don't favor simple long calls. I go bull call spreads instead. The only time I buy single options is on the put side. Selling is where the real money is made on a regular basis. Always looking for put strategies over call strategies. If today's volatility is above 50% of it's yearly avg I am definitely a seller. Below 50% of it's yearly volatility avg, a buyer.
Alex
  • #110
  • May 17, 2013 8:10pm May 17, 2013 8:10pm
Just looking at a possible trade for Mondays market opening, i'm looking to buy walmart WMT june 21 expiration

the $72.50 puts. they closed today for 17c. While it may not reach this level by then i'll be hoping to harvest some gamma to the downside, i have 5 weeks on this and to me the option prices on wmt seem distorted.

below is the closing price of options and the underly wmt closed at 77.87

WMT Jun 2013 72.500 put (WMT130622P00072500)

-OPR

0.17 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 0.03(21.43%) 3:53PM EDT




Wal-Mart Stores Inc. (WMT)

-NYSE

77.87 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 0.63(0.80%) 4:00PM EDT|After Hours : 77.99 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 0.12 (0.15%) 7:58PM EDT
  • #111
  • May 17, 2013 11:53pm May 17, 2013 11:53pm
When I grow up Ima be a gamma scalper like Cecil Gee.

Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #112
  • May 18, 2013 12:05am May 18, 2013 12:05am
Quoting Turveyd
The Fool, still lives, long live the Fool
hey buddy how you been?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #113
  • May 18, 2013 8:52am May 18, 2013 8:52am
Quoting The Fool
When I grow up Ima be a gamma scalper like Cecil Gee. http://www.youtube.com/watch?v=3knYKbyUSdE

and when i grow up i want to trade like this lady

Inserted Video
  • #114
  • May 18, 2013 10:16am May 18, 2013 10:16am
Quoting Cecil Gee
{quote} and when i grow up i want to trade like this lady https://www.youtube.com/watch?v=cXy9HoWX0es
cool, lotsa interesting vids there.

Do you see anything you like about GLD and GDX? Gold at $1,358 down around the level it bounced from on the April crash. I'm not seeing another bounce quite yet.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #115
  • May 18, 2013 10:21am May 18, 2013 10:21am
Quoting The Fool
{quote} cool, lotsa interesting vids there. Do you see anything you like about GLD and GDX? Gold at $1,358 down around the level it bounced from on the April crash. I'm not seeing another bounce quite yet.
I'm working on them at the moment as FOMC minutes next week can make them move big sometimes.

Gold has the potential to fall beloww $1000 with this momentum
  • #116
  • May 18, 2013 10:22am May 18, 2013 10:22am
Quoting The Fool
When I grow up Ima be a gamma scalper like Cecil Gee. http://www.youtube.com/watch?v=3knYKbyUSdE

gamma scalping is the most profitable and risk free thing there is out there, of course few people only do it because of huge margin requirements, I used to do delta hedging and scalping a lot at my previous trading desk job
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #117
  • May 18, 2013 10:30am May 18, 2013 10:30am
Quoting djambazov84
{quote} gamma scalping is the most profitable and risk free thing there is out there, of course few people only do it because of huge margin requirements, I used to do delta hedging and scalping a lot at my previous trading desk job
Hey dude, I hope you'll stop in to talk about options trading if you're still into that.

Is that Union City, TN? (been there)
"If The Fool persists in his Folly he will become wise." - William Blake
  • #118
  • May 18, 2013 10:35am May 18, 2013 10:35am
Quoting Cecil Gee
{quote} I'm working on them at the moment as FOMC minutes next week can make them move big sometimes. Gold has the potential to fall beloww $1000 with this momentum
Depending on what the FOMC minutes say, i would like GLD to be up a litlle at around 133.20 from where it is now 131.07 so i'm looking for some kind of bounce to reload on buying puts.

If gold keeps falling from start of trading week then lower my expectation of a bounce and will reevaluate from there
  • #119
  • May 18, 2013 10:42am May 18, 2013 10:42am
Quoting The Fool
{quote} cool, lotsa interesting vids there. Do you see anything you like about GLD and GDX? Gold at $1,358 down around the level it bounced from on the April crash. I'm not seeing another bounce quite yet.
T.F., I'm still keeping my eye on that EWZ heavy option buying you posted last week, theres a divergence in ewz option pricing, i'm as last week i'm still a little bearish on the ETF, only very short term. I would like EWZ to finish above 55.78 for me to turn bullish long term on it.

TLT indicates it to me as it stands today
  • #120
  • May 18, 2013 10:44am May 18, 2013 10:44am
MSFT I'm looking at, prolly buy a straddle there for one of the IRA's next week.
"If The Fool persists in his Folly he will become wise." - William Blake
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