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Let's Trade Options

  • #1,201
  • Aug 26, 2013 6:21pm Aug 26, 2013 6:21pm
Quoting The Fool
{quote} With VXX at ~ $15.05 bought the $16.00 Sep calls for $0.78. Expect to be itm as we head into Sept FOMC.....looking to net >$0.40 there....
VXX calls went itm on the war talk today, will hold a bit. Had a too small profit target with TLT Sept $106 calls & got hit today for a 20% net, meant to move that target out but couldn't get to a pc before it was too late. More cruise missile talk will shift big flows into Tnotes and TLT will keep going up short term...maybe.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,202
  • Aug 26, 2013 6:23pm Aug 26, 2013 6:23pm
Quoting The Fool
Watching NUGT and DUST with renewed interest now that their splits have gone in...
NUGT now too expensive for me to sell many puts. They may have overdone the reverse split there.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,203
  • Aug 26, 2013 6:40pm Aug 26, 2013 6:40pm
Quoting The Fool
{quote} been waiting on that oil retrace for some time as I have Oct otm USO puts, need to see oil <$100 & won't see that until USD tightens up. State of Emergency & another massacre in the streets of Cairo today may have a way of keeping oil price elevated....
well if Egypt has cooled off enter Syria, short oil has been a losing proposition this summer
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,204
  • Aug 27, 2013 12:11pm Aug 27, 2013 12:11pm
Quoting The Fool
{quote} VXX calls went itm on the war talk today, will hold a bit. Had a too small profit target with TLT Sept $106 calls & got hit today for a 20% net, meant to move that target out but couldn't get to a pc before it was too late. More cruise missile talk will shift big flows into Tnotes and TLT will keep going up short term...maybe.
Yep, 10yr down 2+% today, left way too much on the table there. VXX Sep $16 longs currently up $0.45, watching the war channel and holding out for more....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,205
  • Aug 27, 2013 10:32pm Aug 27, 2013 10:32pm
Black Gold. Was up $1.16 today. Last 5 days up up up. Maybe straddle time?

USO closed today at $39.14. Will watch for a higher close tomorrow.

Sep 21 $41/$37 @ ($0.37/$0.30) $0.67 + comms.

Oct 19 $42/$37 @ ($0.49/$0.68) $1.17 + comms.

Either one could pay off in one day.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,206
  • Aug 28, 2013 7:46am Aug 28, 2013 7:46am
hi.

do u trade currency etf like fxb, fxy ?

i am trying to create a trading strategy using currency etf options instead of spot forex ? have u tried them before?
  • #1,207
  • Aug 28, 2013 10:08am Aug 28, 2013 10:08am
Quoting djack
hi. do u trade currency etf like fxb, fxy ? i am trying to create a trading strategy using currency etf options instead of spot forex ? have u tried them before?
Sure, many possibilities there. I have made and lost money trading FXY options this year...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,208
  • Aug 28, 2013 10:30am Aug 28, 2013 10:30am
Quoting The Fool
{quote} Sure, many possibilities there. I have made and lost money trading FXY options this year...
i just got a book on option volatility and pricing by sheldon naternberg.

are you more of a directio trader or volatility trader?

i have seen all calls by you basically on direction .
  • #1,209
  • Aug 28, 2013 10:45am Aug 28, 2013 10:45am
Quoting djack
{quote} i just got a book on option volatility and pricing by sheldon naternberg. are you more of a directio trader or volatility trader? i have seen all calls by you basically on direction .
mix of both, see the USO straddle mentioned a few posts above. When there is good volatility I would prefer to play both ways. I have made money more consistently that way.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,210
  • Aug 29, 2013 1:01am Aug 29, 2013 1:01am
Quoting currencye
Anybody trading the GBP/USD options this week?
I am looking at oil and the VIX
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,211
  • Aug 29, 2013 12:22pm Aug 29, 2013 12:22pm
Quoting The Fool
{quote} I am looking at oil and the VIX
Still holding Sep VXX $16 calls, looking for a market selloff near day's end...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,212
  • Aug 30, 2013 1:54am Aug 30, 2013 1:54am
selling weekly options...John Carter....

Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,213
  • Aug 30, 2013 9:16am Aug 30, 2013 9:16am
Quoting The Fool
{quote} Still holding Sep VXX $16 calls, looking for a market selloff near day's end...
cashed in for a 100% net. Holding SDS calls. Never got in the USO straddle.

Looking forward to a nice long weekend, have a good one ya'll ... if anybody's still around...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,214
  • Aug 30, 2013 4:00pm Aug 30, 2013 4:00pm
priceline is the next one to take a fall, closed at $938. i'm looking for a $200 fall on this very soon. Hoping to put a put trade in by thursday
  • #1,215
  • Aug 30, 2013 8:56pm Aug 30, 2013 8:56pm
Quoting Cecil Gee
priceline is the next one to take a fall, closed at $938. i'm looking for a $200 fall on this very soon. Hoping to put a put trade in by thursday
Not me - I can't go against Captain Kirk.

Check out the volume in EEM Dec $38 calls/puts today.....looks like a pretty big straddle.

I might do the same and overweight the put side, I could see EEM trading $5 maybe even $10 lower by year end.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,216
  • Sep 1, 2013 1:27pm Sep 1, 2013 1:27pm
Quoting The Fool
Black Gold..... Maybe straddle time? USO closed today at $39.14. Will watch for a higher close tomorrow. Sep 21 $41/$37 @ ($0.37/$0.30) $0.67 + comms. Oct 19 $42/$37 @ ($0.49/$0.68) $1.17 + comms. Either one could pay off in one day.
USO Friday LT @ $38.72. Sep 21 $42/$37 now $0.18/$0.39 ($0.57)....$41/$37 ... $0.28/$0.39 ($0.67)...will watch Monday but upside looks likely....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,217
  • Sep 1, 2013 7:07pm Sep 1, 2013 7:07pm
Quoting The Fool
{quote} USO Friday LT @ $38.72. Sep 21 $42/$37 now $0.18/$0.39 ($0.57)....$41/$37 ... $0.28/$0.39 ($0.67)...will watch Monday but upside looks likely....
oil well down at the new week's open, we may be due for riskon possibly sideways market for the week...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,218
  • Sep 2, 2013 7:35pm Sep 2, 2013 7:35pm
Quoting The Fool
{quote} oil well down at the new week's open, we may be due for riskon possibly sideways market for the week...
yup, hoping for some riskon retrace, looking for good TZA credit spread entries this week.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,219
  • Sep 3, 2013 10:29am Sep 3, 2013 10:29am
took me a couple of hours to go thorugh the whole posts in this thread.

im interested in the USO 's option trades.

as a matter of fact, im trying to focus on uso or gld option trading as i felt its something more 'stabil' compared to currencies.

do you use any specific strategy on uso trading?
  • #1,220
  • Edited 12:21pm Sep 3, 2013 11:26am | Edited 12:21pm
Quoting djack
im interested in the USO 's option trades. as a matter of fact, im trying to focus on uso or gld option trading as i felt its something more 'stabil' compared to currencies. do you use any specific strategy on uso trading?
Check USO daily/weekly range ($0.50 net gain/loss seems to be on the high end for a daily range, $2.00 for a weekly range)

Check the underlying for the etf: "The investment seeks to reflect the performance, less expenses, of the spot price of West Texas Intermediate (WTI) light, sweet crude oil. The fund will invest in futures contracts for WTI light, sweet crude oil, other types of crude oil, heating oil, gasoline, natural gas and other petroleum based-fuels that are traded on exchanges. It may also invest in other oil interests such as cash-settled options on oil futures contracts, forward contracts for oil, and OTC transactions that are based on the price of oil."

Then, what do you think makes the price of WTI move? What do you think it will do in the next 10 days (month, 2 month)...?

Middle East developments weigh on Brent more than WTI, but it's all related. With war drums beating around Syria, it's likely that oil prices will remain elevated. If tshtf for reals then they will both jump.

So...if you're fully bullish on WTI you might sell the $37 USO put against buying the Sep or Oct $39 or $40 call, which is what I just did....

(I went Sep $37/Oct $40 for a net debit of $0.57, looking for a spike when the cm's fly)
"If The Fool persists in his Folly he will become wise." - William Blake
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