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Let's Trade Options

  • #481
  • Jun 3, 2013 1:33pm Jun 3, 2013 1:33pm
Quoting The Fool
{quote} If you're right, BAC $13.00 puts might be good on the weekly, @ $0.07 now. Still need gold to break above $1,430 or so - can it put together any kind of multi-day run?
T.F. we need certain levels for that to work, FAZ/FAS - FAS under 65.91 and FAZ over 33.76, imo.

I could be completely wrong but that is what i have, this not for long term investors but the style of trading i do
as you know

that bac i may take if price can stay under 13.28
  • #482
  • Jun 3, 2013 2:32pm Jun 3, 2013 2:32pm
Quoting Cecil Gee
{quote} Looking for the pop in VXX, should send the stock market down a another 200-300 hundred points VXX is trading at 19.62, has to maintain above this price for it to happen, tomorrow or wednesday. iPath S&P 500 VIX ST Futures ETN (VXX) -NYSEArca 19.62 {image} 0.48(2.51%) 10:53AM EDT - Nasdaq Real Time Price If VXX does then SPY should move close to 160 if not below, current price is below. 163.41 SPDR S&P 500 (SPY) -NYSEArca 163.41 {image} 0.03(0.02%) 10:55AM EDT - Nasdaq Real Time Price
VXX is down to 19.43, need it to close at or above 19.62 and trade around that level tomorrow. 30 minutes left
  • #483
  • Jun 3, 2013 2:41pm Jun 3, 2013 2:41pm
Quoting Cecil Gee
{quote} VXX is down to 19.43, need it to close at or above 19.62 and trade around that level tomorrow. 30 minutes left
do you ever trade the weekly UVXY? VIX derivatives might be fun on an NFP week. UVXY $7.50 calls already up 300% today, now at $0.15.

I am watching, won't be in anything til Wed probably....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #484
  • Jun 3, 2013 2:44pm Jun 3, 2013 2:44pm
Good to see Sisse in here

Took the opportunity to place another range capturing trade on today. Got a .74 credit on a IYR June 73/76 68/65 Iron condor... 68 should be a tough nut to crack and the trade is already moving nicely into profit as the Vix is coming off its spike this AM...

I am currently absolutely directionless except for my longer term ratio call spread on fxy and ratio put spread on SPY but am taking the opportunity to get short the high vega environment as we enter summer.

Iron condors on SPY/IWM/IYR and a hedged 116 call calender on TLT are my active shorter term positions at the moment Ill exit the condors if IV crashes a bit rather than hold all the way till expiration....
  • #485
  • Jun 3, 2013 2:45pm Jun 3, 2013 2:45pm
Quoting The Fool
{quote} do you ever trade the weekly UVXY? VIX derivatives might be fun on an NFP week. UVXY $7.50 calls already up 300% today, now at $0.15. I am watching, won't be in anything til Wed probably....
No T.F. never traded them, may take a look later, just waiting to see where everything finishes doesn't look good for a fall but have the areas market out for future reference
  • #486
  • Jun 3, 2013 2:46pm Jun 3, 2013 2:46pm
last 5 minutes you tend to see some action, lets see where they want to finish
  • #487
  • Jun 3, 2013 2:53pm Jun 3, 2013 2:53pm
Quoting The Fool
{quote} do you ever trade the weekly UVXY? VIX derivatives might be fun on an NFP week. UVXY $7.50 calls already up 300% today, now at $0.15. I am watching, won't be in anything til Wed probably....
Just looked at UVXY, personally i don't like reverse splits on stocks/ etf's and uvxy has had two big ones, it could go to zero or just cease to trade further down the line
  • #488
  • Jun 3, 2013 2:59pm Jun 3, 2013 2:59pm
Quoting Cecil Gee
{quote} Looking for the pop in VXX, should send the stock market down a another 200-300 hundred points VXX is trading at 19.62, has to maintain above this price for it to happen, tomorrow or wednesday. iPath S&P 500 VIX ST Futures ETN (VXX) -NYSEArca 19.62 {image} 0.48(2.51%) 10:53AM EDT - Nasdaq Real Time Price If VXX does then SPY should move close to 160 if not below, current price is below. 163.41 SPDR S&P 500 (SPY) -NYSEArca 163.41 {image} 0.03(0.02%) 10:55AM EDT - Nasdaq Real Time Price
Disregard this has VXX is trading at 19.15, has not managed the prices i was aiming for. See what tomorrow brings. 1 MINUTE TO GO
  • #489
  • Jun 3, 2013 3:02pm Jun 3, 2013 3:02pm
Quoting Cecil Gee
{quote} Disregard this has VXX is trading at 19.15, has not managed the prices i was aiming for. See what tomorrow brings. 1 MINUTE TO GO
still indecisive... no doubt the market will continue to oscillate in a range upon awaiting employment data friday
  • #490
  • Jun 3, 2013 3:03pm Jun 3, 2013 3:03pm
Quoting Cecil Gee
{quote} Financials are already down today but this is just taste of whats to come this week, traders of stocks in these be careful
Don't like this comment either as the tracking stocks for the financials have finished higher, will be watching tomorrows prices and re evaluating
  • #491
  • Jun 3, 2013 3:05pm Jun 3, 2013 3:05pm
Quoting Wulfgar
{quote} still indecisive... no doubt the market will continue to oscillate in a range upon awaiting employment data friday
yes, thats why I wait till closing time and have prices clearly defined to make the final decision, heavy data week
  • #492
  • Jun 3, 2013 3:10pm Jun 3, 2013 3:10pm
Quoting Cecil Gee
I don't like to trade this early in the week but I do have a signal for GDX call option tricky areas just above 30.93 i'm a little late but gonna go for $32 call, i'm trying to get it for 12c but its trading at 13-14 at the moment. GDX Jun 2013 32.000 call (GDX130607C00032000) -OPR 0.13 {image} 0.06(85.71%) 10:47AM EDT GDX is trading at 30.29 Market Vectors Gold Miners ETF (GDX) -NYSEArca 30.29 {image} 0.79(2.69%) 11:15AM EDT - Nasdaq Real Time Price
I did enter GDX $32 CALL for 12c, price is now 11c for the option

GDX closed at 30.36, some resistance just above, may flip if i see it weaken tomorrow

GDX Jun 2013 32.000 call (GDX130607C00032000)
-OPR
0.11 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 0.04(57.14%) 3:46PM EDT


Market Vectors Gold Miners ETF (GDX)
-NYSEArca
30.36 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 0.86(2.92%) 4:00PM EDT|After Hours : 30.37 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 0.01 (0.03%) 4:04PM EDT - Nasdaq Real Time Price
  • #493
  • Jun 3, 2013 3:23pm Jun 3, 2013 3:23pm
Quoting Wulfgar
{quote} still indecisive... no doubt the market will continue to oscillate in a range upon awaiting employment data friday
One could make a good case for avoiding big data release weeks altogether.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #494
  • Jun 3, 2013 3:28pm Jun 3, 2013 3:28pm
Quoting The Fool
{quote} One could make a good case for avoiding big data release weeks altogether.
because NFP happens before the US market opens you tend to get the volatility a day or two before its release
  • #495
  • Jun 3, 2013 4:51pm Jun 3, 2013 4:51pm
GLD isnt really in a actionable area for me to take a directional trade yet... nor is IV high or low enough to make a play that way per my trade plan.... need a nice spike in IV or to rally up to the mid 141's for a short position
  • #496
  • Jun 3, 2013 4:52pm Jun 3, 2013 4:52pm
Quoting The Fool
{quote} One could make a good case for avoiding big data release weeks altogether.
ya I typically try to capture that volatility... the Calender spreads are + vega so if it spikes up nicely without the underlying breaking out of the range Ill often close the trade the day before the big news release since many times after the news you get a vol crash and u can lose a lot of the premium...
  • #497
  • Jun 3, 2013 7:40pm Jun 3, 2013 7:40pm
Was reading somewheres about most (bond yield) correlated stocks - top three were MU, SCHW, HAS.

MU weekly puts might look like a good gamble if it has another green day on Tues. Currently $11.50 w puts @ $0.14, down $0.06 today ona $0.05 MU gain - oops I see MU was down $0.22 ah. Still, will put it on my list.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #498
  • Jun 4, 2013 4:12am Jun 4, 2013 4:12am
IDK maybe I'm just a glutton for punishment but the EWJ w $11.50 call at $0.02 might be my meat.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #499
  • Jun 4, 2013 4:42am Jun 4, 2013 4:42am
Quoting The Fool
{quote} Good to see you here, bud, hope you'll stop by to chew the fat anytime. I am shorting the 10yr note via TLT $100 puts, way out in Sep, just a gamble...
Sorry mate, try to find a reason for that trade but don't see it anywhere. What are you aiming for? On the EWJ looks better but what kind of strategy are you using and what are you aiming for?

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #500
  • Jun 4, 2013 4:44am Jun 4, 2013 4:44am
Quoting The Fool
IDK maybe I'm just a glutton for punishment but the EWJ w $11.50 call at $0.02 might be my meat.
can't see EWJ reaching there even by weeks end, its daily range is small and the strikes 72c away, too much even though its 2c, imho. Good luck if take it. I think you made a good decision not wanting to take a trade until wednesday onwards, rules like that help with risk tolerance
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