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Let's Trade Options

  • #201
  • May 22, 2013 12:48pm May 22, 2013 12:48pm
Quoting The Fool
{quote} yeah that's right. market heads want a pullback. like the Romans would visit the vomitorium to puke their guts out so they could go back and feast somemore. man that was the life.
Ya SPY might pull "All the way back" to a whopping 163 before rocketing up to 200 by next NFP reports
  • #202
  • May 22, 2013 12:54pm May 22, 2013 12:54pm
Quoting Cecil Gee
FOMC when fomc minutes comes out depending on what is said and IF gold starts to fall again, i'll be looking to trade GDX i have my eyes on GDX $26 put for 4c. GDX will need to trade under 27.19 for me to take it GDX May 2013 26.000 put (GDX130524P00026000) -OPR 0.04 {image} 0.11(73.33%) 12:49PM EDT GDX is trading around 27.80 now GLD is to expensive for a two day trade so i may leave this week and might purchase next weeks $123 put GLD is trading at 132.51 at the moment. As you can see my bias for gold is down but these fomc minutes can reverse...
i may attempt this trade, because i have NO idea which way the market will head after the minutes come out, i 'm thinking of taking SLV $23 call for 5c or under, to compliment the GDX put as the prices are cheap for both. MAX risk is 10c for both.

slv is the silver trust, the daily has serious divergence on dailys thats why i'm hedging this way, its just price trading

Shares Silver Trust (SLV)

-NYSEArca 21.69 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.07(0.32%) 5:55PM - Nasdaq Real Time Price
  • #203
  • May 22, 2013 12:58pm May 22, 2013 12:58pm
weekly tlt $118 call @ $0.12 if there are any surprises...if I can get in
"If The Fool persists in his Folly he will become wise." - William Blake
  • #204
  • May 22, 2013 1:08pm May 22, 2013 1:08pm
Quoting The Fool
weekly tlt $118 call @ $0.12 if there are any surprises...if I can get in
Lotta doves crying....
  • #205
  • May 22, 2013 1:13pm May 22, 2013 1:13pm
Quoting Cecil Gee
{quote} I may join you, but a lower strike. I'm waiting to see where we close today on EWZ, my bias is long but i got a little chicken to hold onto my trade. closed out that option already as posted a little earlier 20 minutes ago as price was coming down. common sense told me to wait until after fomc. If we close anywhere above 55.45 today you should make money on that option, GLD setting up for a big move again
Glad i closed that EWZ option earlier, ewz getting hammered
  • #206
  • May 22, 2013 1:18pm May 22, 2013 1:18pm
Quoting The Fool
weekly tlt $118 call @ $0.12 if there are any surprises...if I can get in
S&P falling and TLT hardly moving, which one is wrong?

TLT should be bouncing hard
  • #207
  • May 22, 2013 1:23pm May 22, 2013 1:23pm
Quoting The Fool
weekly tlt $118 call @ $0.12 if there are any surprises...if I can get in
got in at $0.15, just beer money. Still, I likes my beer....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #208
  • May 22, 2013 1:25pm May 22, 2013 1:25pm
Quoting Cecil Gee
{quote} S&P falling and TLT hardly moving, which one is wrong? TLT should be bouncing hard
ya obviously the bond guys are up to somethin....

they may want to slam this thing down to the 115.65 before a push up
  • #209
  • May 22, 2013 1:31pm May 22, 2013 1:31pm
Quoting The Fool
{quote} got in at $0.15, just beer money. Still, I likes my beer....
Good luck, whenever you buy these kind of options use the same amount of money inclusive of all costs for every trade you take because it will just take one trade of 3-1 and above to keep you head of the game and on the winning side
  • #210
  • May 22, 2013 1:35pm May 22, 2013 1:35pm
Threw on a trade on Spot short on Ninja @ 103.58 earlier

locked in my trade before the FOMC minutes and it spiked me out to the tick

Good One Wulfgar ... smh
  • #211
  • May 22, 2013 1:40pm May 22, 2013 1:40pm
Quoting The Fool
{quote} got in at $0.15, just beer money. Still, I likes my beer....
just watch the vega on those long calls brother

not saying it wont keep going up but it has moves pretty far in a short period of time and a volatility drop will hurt that position if thing s settle down
  • #212
  • May 22, 2013 1:49pm May 22, 2013 1:49pm
hey guys not sure if you use this but its a cool little tool to decide on what options strategy to use based on IV
http://www.cboe.com/framed/IVolframe...ity%20Services

clock on that little volatility chart on the right after entering your chosen stock.... the little yellow line tracks IV for the year

IMHO Volatility rules all when trading options. If that little yellow line is in the upper half of the chart Im selling vega, if its in the bottom Im buying vega.... if its in the center Im neutral vega

remember volatility is the creator and destroyer of worlds when trading options... so understand it well.
  • #213
  • May 22, 2013 1:52pm May 22, 2013 1:52pm
Quoting Wulfgar
hey guys not sure if you use this but its a cool little tool to decide on what options strategy to use based on IV http://www.cboe.com/framed/IVolframe...ity%20Services clock on that little volatility chart on the right after entering your chosen stock.... the little yellow line tracks IV for the year IMHO Volatility rules all when trading options. If that little yellow line is in the...
Yes i do look at it and the individual stocks iv
  • #214
  • May 22, 2013 1:55pm May 22, 2013 1:55pm
Not taken any positions yet, this is the best time as time decays quicker as we near friday again
  • #215
  • May 22, 2013 1:56pm May 22, 2013 1:56pm
Hi,
I am totally ignorant about options... i would like to ask if someone needs to have over 25000 $ account balance in order to
day trade ETF options ...i mean pattern day trading rules apply on ETF options??

thanks in advance
ΕΣΟ ΕΤΟÎΜΟΣ
  • #216
  • May 22, 2013 1:56pm May 22, 2013 1:56pm
Quoting Wulfgar
{quote} just watch the vega on those long calls brother not saying it wont keep going up but it has moves pretty far in a short period of time and a volatility drop will hurt that position if thing s settle down
thanks, ya'll - I be in for a learning experience. But if we can squeeze out a few red days maybe rates will drop. Commodities sliding across the board, gold looking dizzy, so my IAU straddle looking like he has a chance.

yen strength what I expected too, but didn't trade it.

Nat gas flat ahead of injection day, holding out little hope for UNG puts I have, we'll see tomorrow
"If The Fool persists in his Folly he will become wise." - William Blake
  • #217
  • May 22, 2013 2:00pm May 22, 2013 2:00pm
Quoting trader65
Hi, I am totally ignorant about options... i would like to ask if someone needs to have over 25000 $ account balance in order today trade ETF options ...i mean pattern day trading rules apply on ETF options?? thanks in advance
Yep, that's right.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #218
  • May 22, 2013 2:00pm May 22, 2013 2:00pm
Quoting trader65
Hi, I am totally ignorant about options... i would like to ask if someone needs to have over 25000 $ account balance in order today trade ETF options ...i mean pattern day trading rules apply on ETF options?? thanks in advance
It all depends on what strategy you are going to use, some require a lot less
  • #219
  • May 22, 2013 2:03pm May 22, 2013 2:03pm
Quoting The Fool
{quote} Yep, that's right.
Thanks TF,

what about index and or forex options... same case ??

thanks
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  • #220
  • May 22, 2013 2:10pm May 22, 2013 2:10pm
Quoting Cecil Gee
{quote} It all depends on what strategy you are going to use, some require a lot less
Hi Cecil,

not asking about margin requirements...but pattern day trading triggering....thanks
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