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Let's Trade Options

  • #1,561
  • Nov 14, 2013 11:03pm Nov 14, 2013 11:03pm
Quoting pipple
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
MJN hey thanks for the tip - looks like somebody did something similar in the November $70 too. Maybe it will pop off another quick 15% drop like it did last July. Hey Xmas is coming and insiders need to buy the mistresss' poodle a new tiara. I don't like those wide strikes tho...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,562
  • Nov 15, 2013 12:19am Nov 15, 2013 12:19am
hey pipple there's an options margin calculator on the CBOE website

http://www.cboe.com/tradtool/mCalc/default.aspx

for straight long puts and calls margin required is just the price you pay for the option, it gets a little more complicated for writing naked options

lots of good info on the CBOE site...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,563
  • Nov 15, 2013 1:14am Nov 15, 2013 1:14am
Quoting pipple
{quote} 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
Pipple when I say 18c for a option you are right that its actually $18 per contract,( everything x100), i'm a option buyer as i trade weekly s but every now and again i trade longer term and even more rare is I write options. When i do write options the margin required varies from broker and price of a stock. I have previously put up to $1100 as margin requirement, its something i don't do much at all unless it falls in to a repair strategy on a long term trade. As for margin on a weekly I don't have a clue as i can't remember ever doing one.
Weekly options changed everything for me when they were introduced a few years ago, before I too used too think buying options was a waste of time and writing options was the only strategy to consistently profit from. I know most professionals and all institutions write options but I think they trade mostly large cap stocks and Indexes, russell, spx, ndx and commodities but a lot are getting into weekly options, many so called experts are teaching this for a price but none share live trades
  • #1,564
  • Nov 15, 2013 1:22am Nov 15, 2013 1:22am
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
we'll see how this opens up and trades after hours FCX has gone up to $36.74 that would make the option i bought for 9c to around 35c or $35 per contract.

Freeport-McMoRan Copper & Gold Inc. (FCX)
-NYSE
36.34 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.01(0.03%) 14 Nov 21:01|After Hours: : 36.74 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 0.40 (1.10%) 15 Nov 00:51
  • #1,565
  • Nov 15, 2013 2:20am Nov 15, 2013 2:20am
Quoting Cecil Gee
{quote} many so called experts are teaching this for a price but none share live trades
lol, "those that can, do; those that can't, teach"

I'll be trying to cram in at least another couple earnings scalps this month, prolly wait til Monday to get in, but we'll see.

Since Janet Yellen killed the tapir, I'd bet we can see a healthy bounce in the pm's & miners....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,566
  • Nov 15, 2013 8:19am Nov 15, 2013 8:19am
crude back up again. if I messed with those binary deals I may be inclined to write a call. a lot of times they will run it in an opposite direction around this time of day.
still in everything......s&p on short leash
  • #1,567
  • Nov 15, 2013 8:30am Nov 15, 2013 8:30am
Quoting Cecil Gee
{quote} Pipple when I say 18c for a option you are right that its actually $18 per contract,( everything x100), i'm a option buyer as i trade weekly s but every now and again i trade longer term and even more rare is I write options. When i do write options the margin required varies from broker and price of a stock. I have previously put up to $1100 as margin requirement, its something i don't do much at all unless it falls in to a repair strategy on a long term trade. As for margin on a weekly I don't have a clue as i can't remember ever doing...
thx
I found one of those so called places that teaches a course yesterday. I watched a webinar from them. I am super paranoid of giving anybody money to teach me crap.
I know some may be good, but being in my industry I cant help but assume they are full of it. plus I would rather share info about my stuff with you guys and vice versa and learn organically that way.
I kind of this I stumbled upon this thread for a reason, stock option stuff has been in front of me all the time lately.
sounds like your options require less margin than mine. I am gonna have to do a demo acct and see how liquid the rolling capabilities are. anybody do an easy demo you would recommend that is similar to what you see with a live acct?
  • #1,568
  • Nov 15, 2013 10:40am Nov 15, 2013 10:40am
Quoting pipple
{quote} I found one of those so called places that teaches a course yesterday. I am gonna have to do a demo acct and see how liquid the rolling capabilities are. anybody do an easy demo you would recommend that is similar to what you see with a live acct?
mornin pipple - i never paid for anything educational, there's too much free available. Check out all the free stuff available on the CBOE website

http://www.cboe.com/. ...............Also look on youtube for free videos: many of the "Tasty Trade" clips on there are good.

I never used any paper trading software much. If I want to "papertrade" something, I will just do that, write it down on paper and see how it goes. Things are moving pretty slow in the way I trade so I can get a good enough idea that way. There are some papertrading utilities on the CBOE website but they're probably clunky. If you are on ThinkorSwim you can papertrade on your account there.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,569
  • Nov 15, 2013 12:27pm Nov 15, 2013 12:27pm
nice slow day so far. I like it going into weekend, plus expiration today for nov emini and dec crude, so I will be front month as of Monday and let the deterioration begin. weird actually I was prepared for more movement today. still time left I suppose but I like the quiet sometimes.
only options giving me heat are the 1825 sp calls. minor heat...only worth 24% more than what I sold for.
nothing necessary to adjust at the moment, everything else is in profit or breakeven
maybe get a natural pullback in the sp next week hopefully, and then ride this into the end of the month. we shall see.
again....it is not an issue to roll, more often than not for my strategy it is beneficial as I end up with a wider strangle and more premium.....but of course I cant complain if I don't have to do anything at all.
  • #1,570
  • Nov 15, 2013 1:24pm Nov 15, 2013 1:24pm
Quoting pipple
{quote} thx I found one of those so called places that teaches a course yesterday. I watched a webinar from them. I am super paranoid of giving anybody money to teach me crap. I know some may be good, but being in my industry I cant help but assume they are full of it. plus I would rather share info about my stuff with you guys and vice versa and learn organically that way. I kind of this I stumbled upon this thread for a reason, stock option stuff has been in front of me all the time lately. sounds like your options require less margin than mine....
try trademonster, i use them
  • #1,571
  • Nov 15, 2013 1:27pm Nov 15, 2013 1:27pm
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
closed this trade earlier at 40c or $40 per contract, i bought for 9c or $9 each, below is the current price some minutes ago. This option went as high as 45c or $45 per contract.


FCX Nov 2013 36.500 call (FCX131116C00036500)
-OPR
0.35 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.22(169.23%) 18:52
  • #1,572
  • Nov 15, 2013 1:28pm Nov 15, 2013 1:28pm
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
this option contract will expire worthless on me, i went light on it yesterday
  • #1,573
  • Nov 15, 2013 2:04pm Nov 15, 2013 2:04pm
S&P 1,800 just a heartbeat away. I have Jan $82 SSO long puts, $1 in the hole there, will need to sell some otm puts for Dec to ease that hit.

Still looking at a TSLA credit put spread, TSLA been on a steady slide, was down $10 this week. I was looking for some consolidation here around $135-$140, so was looking at selling 11/22 $125p for $1.05 +/-, buying 12/21 $100p @ $0.92, net ~$0.10 credit. When the slide is on good it be best to long the puts first and see if you can catch a run. Might do that here before the close.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,574
  • Nov 15, 2013 2:14pm Nov 15, 2013 2:14pm
Quoting Cecil Gee
{quote} closed this trade earlier at 40c or $40 per contract, i bought for 9c or $9 each, below is the current price some minutes ago. This option went as high as 45c or $45 per contract. FCX Nov 2013 36.500 call (FCX131116C00036500) -OPR 0.35 {image} 0.22(169.23%) 18:52
good one CG. I am looking at some spreads on NUGT and/or DUST. A Yellen boom extension could play very well for gold.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,575
  • Nov 15, 2013 2:17pm Nov 15, 2013 2:17pm
Quoting The Fool
{quote} good one CG. I am looking at some spreads on NUGT and/or DUST. A Yellen boom extension could play very well for gold.
Thx and seriously considering a play on that Home Depot, may go 4/5 strikes out on a strangle
  • #1,576
  • Nov 15, 2013 2:20pm Nov 15, 2013 2:20pm
Quoting The Fool
S&P 1,800 just a heartbeat away. I have Jan $82 SSO long puts, $1 in the hole there, will need to sell some otm puts for Dec to ease that hit. Still looking at a TSLA credit put spread, TSLA been on a steady slide, was down $10 this week. I was looking for some consolidation here around $135-$140, so was looking at selling 11/22 $125p for $1.05 +/-, buying 12/21 $100p @ $0.92, net ~$0.10 credit. When the slide is on good it be best to long the puts first and see if you can catch a run. Might do that here before the close.....
wait for TSLA implied volatility to come down a bit more its still quite high
  • #1,577
  • Nov 15, 2013 2:23pm Nov 15, 2013 2:23pm
start looking at LAS VEGAS SANDS ( LVS) hasto be one of the best movers for our style of trading
  • #1,578
  • Nov 15, 2013 2:28pm Nov 15, 2013 2:28pm
Quoting Cecil Gee
{quote} Thx and seriously considering a play on that Home Depot, may go 4/5 strikes out on a strangle
Yup, I'll do one maybe two scalps for earnings releases next week. HD a good candidate and Pandora, too.

P up >25% in the last 2 days. I might buy cheap put leg on that here before the close. I'm looking at maybe a 25/35 strangle. The 11/22 $25p I might try to get for $.20 before the bell. It looks like it is being set up for a dump at earnings.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,579
  • Nov 15, 2013 2:29pm Nov 15, 2013 2:29pm
Quoting The Fool
{quote} Yup, I'll do one maybe two scalps for earnings releases next week. HD a good candidate and Pandora, too. P up >25% in the last 2 days. I might buy cheap put leg on that here before the close. I'm looking at maybe a 25/35 strangle. The 11/22 $25p I might try to get for $.20 before the bell. It looks like it is being set up for a dump at earnings.
checking pandora now
  • #1,580
  • Nov 15, 2013 2:31pm Nov 15, 2013 2:31pm
Quoting Cecil Gee
{quote} wait for TSLA implied volatility to come down a bit more its still quite high
I want that premium - need the sold puts to pay me to gamble on a further drop. I think TSLA could make a run below $120 by yearend, easy.
"If The Fool persists in his Folly he will become wise." - William Blake
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