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Let's Trade Options

  • #861
  • Jun 26, 2013 9:31pm Jun 26, 2013 9:31pm
Quoting Cecil Gee
If i can get GDX $23.50 call for 9c or under tomorrow then i'll buy. GDX is over extended, some kind of retrace is due GDX Jun 2013 23.500 call (GDX130628C00023500) -OPR 0.09{image} 0.50(84.75%) 3:57PM EDT
yeah I'm not doing too great on gold related plays. Easy as buying far otm puts last 3-4 months coulda made a shitload of green, but didn't. If I do anything else it will be leaning short side, maybe watch for exhaustion of any bounce...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #862
  • Jun 26, 2013 9:34pm Jun 26, 2013 9:34pm
Quoting The Fool
{quote} Asian indices all green, good to see that. Heavy POMO day tomorrow with big news, could be wild. I just want to get out of my scalps w/o too much damage. XLF calls has potential. Watching to see if the 10yr rate slides, may need to bail on my TLT puts. Otherwise, just watching. Been a wild couple a weeks...
last week of every month is a bitch to trade in options, better of trading on friday cus if you lose you lose very small
  • #863
  • Jun 26, 2013 10:24pm Jun 26, 2013 10:24pm
Quoting Cecil Gee
{quote} IV is always high when earnnings are released, best trade the reaction or a competitor
Yes, volatility high if go lower make a big damage, in 2 LONG possition.
And expensive turn more risk
Short expiration have big time decay.
Still waiting for another oportunity.
  • #864
  • Jun 26, 2013 10:28pm Jun 26, 2013 10:28pm
Quoting The Fool
{quote} Did you get in your RUT spread? I see the annual rebalancing is due now, not sure if that means anything for the way it behaves? http://www.cnbc.com/id/31384597/
Im out now.
RUT close tomorow, but the last price is friday open.
I avoid that risk.
  • #865
  • Jun 27, 2013 1:00am Jun 27, 2013 1:00am
thinking about an Aug FXE straddle. I could see e/u going either way. If the "correction" is "over" I could see the euro catching a bounce off the 1.30 level to 1.34 over the summer. If there's continuing good news on the US economy the USD will strengthen. Wait, but only bad news is good news, because good news means sooner cutback in QE, so good news is bad, got it? Dollar strength on good/bad news takes E/U to 1.26xx over the Summer. So a Aug straddle that costs $3 or less I bet will profit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2013-06-26_fxe.png Size: 60 KB
Click to Enlarge Name: 2013-06-26_fxe2.png Size: 54 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #866
  • Jun 27, 2013 1:18am Jun 27, 2013 1:18am
So if I start thinking I should buy the pm miners "cheap" on this pm selloff, I can zoom out and look at where they traded before the long pm trend up: FCX traded at $12 when gold dipped to $705 in late 2008.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2013-06-26_fcx.png Size: 57 KB
Click to Enlarge Name: 2013-06-26_gold.png Size: 55 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #867
  • Jun 27, 2013 8:45am Jun 27, 2013 8:45am
Quoting Cecil Gee
{quote} last week of every month is a bitch to trade in options, better of trading on friday cus if you lose you lose very small
proving difficult to find a good entry in options this week, still nothing
  • #868
  • Jun 27, 2013 8:53am Jun 27, 2013 8:53am
Quoting Cecil Gee
If i can get GDX $23.50 call for 9c or under tomorrow then i'll buy. GDX is over extended, some kind of retrace is due GDX Jun 2013 23.500 call (GDX130628C00023500) -OPR 0.09{image} 0.50(84.75%) 3:57PM EDT
took the $23 call in GDX for 16c, took the closer strike instead

GDX Jun 2013 23.000 call (GDX130628C00023000)
-OPR
0.16 http://l.yimg.com/a/i/us/fi/03rd/down_r.gif 0.79(83.16%) Jun 26

edit: GDX price is 22.79

Market Vectors Gold Miners ETF (GDX)
-NYSEArca
22.79 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.57(2.57%) 9:54AM EDT - Nasdaq Real Time Price
  • #869
  • Jun 27, 2013 9:04am Jun 27, 2013 9:04am
Took a Fx long again on USD/y 98.41- my s/l 98.20
  • #870
  • Jun 27, 2013 9:49am Jun 27, 2013 9:49am
No good candidates for me.
Only think in Vertical spread in SPX looking for credit and some continuation of the short por the next 5 days.
  • #871
  • Jun 27, 2013 10:00am Jun 27, 2013 10:00am
Quoting Cecil Gee
{quote} took the $23 call in GDX for 16c, took the closer strike instead GDX Jun 2013 23.000 call (GDX130628C00023000) -OPR 0.16 {image} 0.79(83.16%) Jun 26 edit: GDX price is 22.79 Market Vectors Gold Miners ETF (GDX) -NYSEArca 22.79 {image} 0.57(2.57%) 9:54AM EDT - Nasdaq Real Time Price
17c actually and i've closed don't trust it, cost of commissions is my loss. still in long USD/Y from 98.41 up a few pips its trading at 98.51
  • #872
  • Jun 27, 2013 10:14am Jun 27, 2013 10:14am
Quoting Cecil Gee
{quote} 17c actually and i've closed don't trust it, cost of commissions is my loss. still in long USD/Y from 98.41 up a few pips its trading at 98.51
I'm lining up a pending order for GDX $22 put and i'm hoping for 6-7c for it only if price can dip below $22.41.

USD/Y is gradually moving in the direction of my long. With the strong housing number it may only be a matter of time

VXX put maybe worth a look too
  • #873
  • Jun 27, 2013 1:46pm Jun 27, 2013 1:46pm
Quoting Cecil Gee
{quote} I'm lining up a pending order for GDX $22 put and i'm hoping for 6-7c for it only if price can dip below $22.41. USD/Y is gradually moving in the direction of my long. With the strong housing number it may only be a matter of time VXX put maybe worth a look too
briefly touched 22.4o brfore it bounce so not touching it so bought the $24 call for 5c, tomorrow expiration.

GDX trading at $22.91 now

GDX Jun 2013 24.000 call (GDX130628C00024000)
-OPR
0.05 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 0.01(16.67%) 2:23PM EDT
  • #874
  • Jun 27, 2013 2:02pm Jun 27, 2013 2:02pm
gold crashing again, knocking on the sub $1200 door. Helluva a shakeout.

Had to close my tlt puts today, stopped out for a $0.22 gain, makes me sad, froze when I shoulda closed at 130% profit, settled for %35 instead. That trade will prolly be there again...

XLF calls I had a $0.15 profit close on and it got hit, so a little over doubled. AA calls prolly be a loss, the two m/l cancel each other out. Unless AA tries to pin $8.00 by tomorrow. Maybe learned AA not such a good scalp vehicle.

Hammered at work here til end of Friday, not much screen time during market hrs, maybe just as well. Eked out some profits on the week, nothing to strut about. Hope ya'll have fared as well or better.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #875
  • Jun 27, 2013 3:00pm Jun 27, 2013 3:00pm
Quoting Cecil Gee
{quote} briefly touched 22.4o brfore it bounce so not touching it so bought the $24 call for 5c, tomorrow expiration. GDX trading at $22.91 now GDX Jun 2013 24.000 call (GDX130628C00024000) -OPR 0.05 {image} 0.01(16.67%) 2:23PM EDT
also looking to take a put tomorrow $22.50 if i can get it for 6c on GDX turn my already GDX into a strangle
  • #876
  • Jun 27, 2013 3:02pm Jun 27, 2013 3:02pm
Quoting Cecil Gee
{quote} also looking to take a put tomorrow $22.50 if i can get it for 6c on GDX turn my already GDX into a strangle
might as well get in on the gold death spiral
"If The Fool persists in his Folly he will become wise." - William Blake
  • #877
  • Jun 27, 2013 7:49pm Jun 27, 2013 7:49pm
Quoting Cecil Gee
{quote} also looking to take a put tomorrow $22.50 if i can get it for 6c on GDX turn my already GDX into a strangle
if it opens below $22.50 then the $22 put for 6c or under, watch how the miners react in asia, BHP - RIO TINTO
  • #878
  • Jun 27, 2013 7:59pm Jun 27, 2013 7:59pm
Google is the other trade i've been watching all week, tomorrows opening providing price is near its close of today of 877.07 i will be looking to buy the $870 put for no more than 20c.
The close was 72c for the option today so i'm looking for lots of overnight decay.

GOOG Jun 2013 870.000 put (GOOG130628P00870000)
-OPR
0.72 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 2.48(77.50%) 3:59PM EDT
  • #879
  • Jun 27, 2013 8:02pm Jun 27, 2013 8:02pm
Quoting Cecil Gee
Google is the other trade i've been watching all week, tomorrows opening providing price is near its close of today of 877.07 i will be looking to buy the $870 put for no more than 20c. The close was 72c for the option today so i'm looking for lots of overnight decay. GOOG Jun 2013 870.000 put (GOOG130628P00870000) -OPR 0.72 {image} 2.48(77.50%) 3:59PM EDT
may even take GOOGLE $865 PUT for 10c or lower on the open if google opens lower than $876,
this option closed for 25c

GOOG Jun 2013 865.000 put (GOOG130628P00865000)
-OPR
0.25 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 1.58(86.34%) 3:59PM EDT
  • #880
  • Jun 28, 2013 5:25am Jun 28, 2013 5:25am
Quoting Cecil Gee
{quote} may even take GOOGLE $865 PUT for 10c or lower on the open if google opens lower than $876, this option closed for 25c GOOG Jun 2013 865.000 put (GOOG130628P00865000) -OPR 0.25 {image} 1.58(86.34%) 3:59PM EDT
its quater end so quaterly options are in play, traders will want to ping there options
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