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Let's Trade Options

  • #1,541
  • Nov 14, 2013 7:34am Nov 14, 2013 7:34am
New gamma trade for me being considered, FCX is trading at $36.o8 now if it trades above $36.22 i'll buy the $36.50 calls for tomorrows weekly expiration for 10c 0r less, details below.

Freeport-McMoRan Copper & Gold Inc. (FCX)
-NYSE
36.08 http://l.yimg.com/a/i/us/fi/03rd/down_r.gif 0.25(0.69%) 3:30PM GMT - Nasdaq Real Time Price

options price

FCX Nov 2013 36.500 call (FCX131116C00036500)
-OPR
0.10 http://l.yimg.com/a/i/us/fi/03rd/down_r.gif 0.09(47.37%) 15:11
  • #1,542
  • Nov 14, 2013 7:39am Nov 14, 2013 7:39am
Quoting Cecil Gee
New gamma trade for me being considered, FCX is trading at $36.o8 now if it trades above $36.22 i'll buy the $36.50 calls for tomorrows weekly expiration for 10c 0r less, details below. Freeport-McMoRan Copper & Gold Inc. (FCX) -NYSE 36.08 {image} 0.25(0.69%) 3:30PM GMT - Nasdaq Real Time Price options price FCX Nov 2013 36.500 call (FCX131116C00036500) -OPR 0.10 {image} 0.09(47.37%) 15:11
in at 9c or $9 per contract
  • #1,543
  • Nov 14, 2013 7:48am Nov 14, 2013 7:48am
bought a few contracts for tomorrows expiration on apple $535 calls for 18c a few minutes ago, not too much money in this

AAPL Nov 2013 535.000 call (AAPL131116C00535000)
-OPR
0.18 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.08(80.00%)

apple trading at $527.70


Apple Inc. (AAPL)
-NasdaqGS

527.70 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 7.07(1.36%) 3:48PM GMT - Nasdaq Real Time Price
  • #1,544
  • Nov 14, 2013 9:32am Nov 14, 2013 9:32am
oil is bipolar today. pretty sick volatility. wish I woulda sold those gas puts.
still in everything
  • #1,545
  • Nov 14, 2013 9:52am Nov 14, 2013 9:52am
Quoting The Fool
{quote} ....like maybe an 11/22 BBY $44p/$46c long strangle, BBY earnings out 11/19, popped long $5 last release, will need to watch the prices next 2 days... {image}
oh, snap - no weeklies on BBY
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,546
  • Nov 14, 2013 10:06am Nov 14, 2013 10:06am
Quoting pipple
oil is bipolar today. pretty sick volatility. wish I woulda sold those gas puts. still in everything
yeah I keep missing my entry on UNG calls, saw it dipped to $17.3x this morning. I suppose I should sell the Dec 06 $19c and buy the
Jan $20 calls for a near wash.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,547
  • Nov 14, 2013 10:44am Nov 14, 2013 10:44am
Quoting The Fool
{quote} yeah I keep missing my entry on UNG calls, saw it dipped to $17.3x this morning. I suppose I should sell the Dec 06 $19c and buy the Jan $20 calls for a near wash.....
I need to brush up on understanding the lingo for your options. when you say 19c is there a multiple for that? its really not .19 right?
I need to read that book you linked I suppose.
always looking for a shortcut and the cliffs notes
  • #1,548
  • Nov 14, 2013 10:45am Nov 14, 2013 10:45am
Quoting The Fool
{quote} yeah I keep missing my entry on UNG calls, saw it dipped to $17.3x this morning. I suppose I should sell the Dec 06 $19c and buy the Jan $20 calls for a near wash.....
if these other instruments move in unison with the actual WTI crude as you have mentioned, then I can tell you on my 4 hr chart and the 1 hr chart there is some pretty hard trendline using the 200 day MA on the 1 and the 50 or so on the 4. it has been bouncing off of that for awhile.
that may help for an entry if it is all related
  • #1,549
  • Nov 14, 2013 10:49am Nov 14, 2013 10:49am
for example, I took a quick futures trade today with a sell limit I placed at 95 even for jan crude. that is right where the 200 is on the 1hr. I thought it had no chance of being hit, but it did, and I scalped 30cents. its been a really good payer for the last week.....every time it has paid well. at one point I will get stopped out, but if it keeps bouncing back and forth, it is a pretty good bet to continue that movement over and over again
  • #1,550
  • Nov 14, 2013 10:52am Nov 14, 2013 10:52am
Quoting The Fool
{quote} .......GMCR has some juicy options: buy 12/21 $50p/sell Nov 22 $58p is $1.73/$3.10, nets $1.25 credit ($57.5p nets $1.07), I gotta figure out what's up with the $3 flash drop today... ....well, idk, but GMCR could be set up for a wicked short squeeze, with 43% of the float short (as of 10/15), and earnings out 11/20. I bet it gets run up til 11/20 and short puts in the spread above pay well.... {image}
still watching, earnings release right at opex is a problem, considering a spread further out, will probably wait til after earnings
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,551
  • Nov 14, 2013 10:55am Nov 14, 2013 10:55am
Quoting pipple
{quote} I need to brush up on understanding the lingo for your options. when you say 19c is there a multiple for that? its really not .19 right? I need to read that book you linked I suppose. always looking for a shortcut and the cliffs notes

Dec 06 $19c - just means the call for $19 strike expiring Dec 6th

Where do you think nat gas is going next 2 weeks, 2 months?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,552
  • Nov 14, 2013 11:04am Nov 14, 2013 11:04am
Quoting The Fool
{quote} oh, snap - no weeklies on BBY
Home Depot earnings on 19 NOV looks to me as a popper looking at its charts
  • #1,553
  • Nov 14, 2013 11:16am Nov 14, 2013 11:16am
Quoting Cecil Gee
{quote} Home Depot earnings on 19 NOV looks to me as a popper looking at its charts
yeah I have been watching HD and had thought a cheap 11/22 strangle would be a good play on earnings. I'm not convinced it will move enough. I'd want to get into something for <$0.50 net. As it's rising, I might buy the put leg today or tomorrow. I had thought HD would pop at earnings, but after reading up I saw many think it is already overvalued and shld be trading at <$70....I like the looks of the charts too
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,554
  • Nov 14, 2013 11:37am Nov 14, 2013 11:37am
Quoting The Fool
{quote} Dec 06 $19c - just means the call for $19 strike expiring Dec 6th Where do you think nat gas is going next 2 weeks, 2 months?
I honestly barely ever look at it.
such non correlation lately between the energies I have enough on my plate keeping up with wti and rbob.
  • #1,555
  • Nov 14, 2013 11:45am Nov 14, 2013 11:45am
Quoting pipple
{quote} I honestly barely ever look at it. such non correlation lately between the energies I have enough on my plate keeping up with wti and rbob.
well it wouldn't have been hard to go broke trying to long it the last couple years. but it seems to have a pretty tight floor, too. Anyway, there are juicier things to trade.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,556
  • Nov 14, 2013 7:04pm Nov 14, 2013 7:04pm
when I said that option buying was a suckers bet, I meant commodities, just to clarify. wasn't referring to what you guys do.
may have to buy back my sp calls and wait it out. may also write more puts.
we shall see.
although they aren't trading much higher than what I sold em for, I feel momentum and sometimes will jump the gun and get out of the way early. most times that ends up being a poor choice on my part, and I end up leaving $ on the table, but I would rather be safe.
  • #1,557
  • Nov 14, 2013 8:06pm Nov 14, 2013 8:06pm
Quoting pipple
may have to buy back my sp calls and wait it out. may also write more puts. .... I would rather be safe.
so far as index options go maybe a good idea. I watched Miz Yellen today (izzat a Brooklyn accent I hear?, fck I ain't lookin forward to listenin to that for years) and it seems like QE**infinity is the right prognosis. We'll see 1,800/16,000/4,000 roll over on the same day, prolly next week. Priceline will be worth more than most EU countries and I don't even know wtf they do.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,558
  • Nov 14, 2013 8:20pm Nov 14, 2013 8:20pm
Quoting The Fool
{quote} so far as index options go maybe a good idea. I watched Miz Yellen today (izzat a Brooklyn accent I hear?, fck I ain't lookin forward to listenin to that for years) and it seems like QE**infinity is the right prognosis. We'll see 1,800/16,000/4,000 roll over on the same day, prolly next week. Priceline will be worth more than most EU countries and I don't even know wtf they do.
I agree with all of that.
if I make it to Monday I will be surprised. i'd rather take a 3-4 point loss on the call while there is still 3 leftover on my puts since I have equal #s of each. I can re-write since theres another month in this cycle.
if however, it does go roaring thru 1800 and I can write an 1850-1860 for 6-7points I don't see how I can resist
  • #1,559
  • Nov 14, 2013 8:37pm Nov 14, 2013 8:37pm
was checking out this site whatstrading with unusual option activity...looked like a crazy amount of action on mead Johnson.
saw this options webinar that mentioned it also.
you see anything on that?
also said how goog ceo sold bunch of shares off........filing was released.....interesting
  • #1,560
  • Nov 14, 2013 8:57pm Nov 14, 2013 8:57pm
Quoting Cecil Gee
bought a few contracts for tomorrows expiration on apple $535 calls for 18c a few minutes ago, not too much money in this AAPL Nov 2013 535.000 call (AAPL131116C00535000) -OPR 0.18 {image} 0.08(80.00%) apple trading at $527.70 Apple Inc. (AAPL) -NasdaqGS 527.70 {image} 7.07(1.36%) 3:48PM GMT - Nasdaq Real Time Price
cecil, when you say you bought a few contracts at 18c, does that mean you spent $18 per contract? or actually 18 cents?
also, now much margin do they lock up on you per contract for that on a weekly? monthly?
just ballpark # if you don't mind. I guess the value of the stock plays into the margin requirement....they cant all be the same right?
thanks
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