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Let's Trade Options

  • #1,621
  • Nov 18, 2013 11:27am Nov 18, 2013 11:27am
Quoting The Fool
{quote} ..trying not to panic, will be sht sammich to buy those back for a loss. I almost never trade near the open, did today and paid for it.
had you traded it the other way round you be in the money, sell the lower strike $100 and buy the higher one $115, hope you be fine mate
  • #1,622
  • Nov 18, 2013 11:32am Nov 18, 2013 11:32am
Quoting The Fool
{quote} TWTR options are up, well represented in the puts...
great stuff, plenty of volume. I won't trade those for a couple of months until we see some data fill in the charts and see how options react as in ranges
  • #1,623
  • Nov 18, 2013 11:37am Nov 18, 2013 11:37am
Quoting Cecil Gee
{quote} so far the FB $44 put has doubled in price, now trading at 14c+, I paid 7c FB Nov 2013 44.000 put (FB131122P00044000) -OPR 0.14 {image} 0.07(100.00%) 18:39
up to 18c or $18 per contract, wish I'd bought more now, if i see anything above 21c today I'll just close

FB Nov 2013 44.000 put (FB131122P00044000)
-OPR
0.18 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.11(157.14%) 19:10
  • #1,624
  • Nov 18, 2013 11:55am Nov 18, 2013 11:55am
Quoting Cecil Gee
{quote} had you traded it the other way round you be in the money, sell the lower strike $100 and buy the higher one $115, hope you be fine mate
11/22 $115 puts sold, 12/21 $100 puts bought - itm now and always will be because of the calendar diagonal, but it'll be a huge fckup if TSLA won't hold above $115 this week. Heavy news out today dinging TSLA and I should have been more vigilant, got greedy.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,625
  • Nov 18, 2013 12:01pm Nov 18, 2013 12:01pm
Quoting The Fool
{quote} 11/22 $115 puts sold, 12/21 $100 puts bought - itm now and always will be because of the calendar diagonal, but it'll be a huge fckup if TSLA won't hold above $115 this week. Heavy news out today dinging TSLA and I should have been more vigilant, got greedy.
it may struggle at $119 with any luck bounce from there or 120
  • #1,626
  • Nov 18, 2013 12:20pm Nov 18, 2013 12:20pm
Quoting Cecil Gee
{quote} up to 18c or $18 per contract, wish I'd bought more now, if i see anything above 21c today I'll just close FB Nov 2013 44.000 put (FB131122P00044000) -OPR 0.18 {image} 0.11(157.14%) 19:10
closed FB trade for 25c or 25$ per contract, bought for 7c/$7 per contract, may get more but will take the profit for Monday

FB Nov 2013 44.000 put (FB131122P00044000)
-OPR
0.25 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.18(257.14%) 19:58
  • #1,627
  • Nov 18, 2013 12:29pm Nov 18, 2013 12:29pm
I bought 1660 puts back for 2.85 ($142.50) total $132.50 profit per. I am uncomfortable with the trade after getting out of the calls, and just scrapped the whole thing. will stay with the crude for now.
99% is risk management. getting put of the way is sometimes best move.
  • #1,628
  • Nov 18, 2013 1:14pm Nov 18, 2013 1:14pm
Quoting Cecil Gee
{quote} closed FB trade for 25c or 25$ per contract, bought for 7c/$7 per contract, may get more but will take the profit for Monday FB Nov 2013 44.000 put (FB131122P00044000) -OPR 0.25 {image} 0.18(257.14%) 19:58
Facebook has further downside risk, after closing the put trade for 25c it jumped to a closing of 30c, liked to see how high that option may go with more fb selling, LNKD - LINKDIN has also sold of but i'm already in other trades so no more till i close some out
  • #1,629
  • Nov 18, 2013 1:18pm Nov 18, 2013 1:18pm
hissing noise from deflating bubbles, may need ear protection
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,630
  • Nov 18, 2013 1:39pm Nov 18, 2013 1:39pm
tech stock slide (?) might ding Pandora with earnings out this week, now trading around $30 - a$25/$35 strangle costs $0.70 - nwould probably need a 3$ move either way to break even...

still considering Target
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,631
  • Nov 18, 2013 8:15pm Nov 18, 2013 8:15pm
SDS, Jan '14 $38 long calls, $0.24, 10-bags or bust, Karl Icahn says it a lock.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,632
  • Nov 18, 2013 9:48pm Nov 18, 2013 9:48pm
Quoting pipple
getting put of the way is sometimes best move.
Thanks, pipple - I'll remember that and try to stay the fck out of my own way. Seriously.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,633
  • Nov 18, 2013 10:43pm Nov 18, 2013 10:43pm
Quoting The Fool
{quote} I had been thinking I would do HD but not feeling it, leaning toward TGT now, will be chewing on it next day or so...
i could do both, looking at a $84/$76 11/21 long strangle on HD, would want to get in net debit <$0.35
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,634
  • Nov 18, 2013 10:50pm Nov 18, 2013 10:50pm
John Carter. I'm not promoting the guy. He's selling training DVD's etc. I never bought any and pretty sure I won't. He sends me several emails a week and occasionally I look at one. Just thought some of yas might be interested.

http://members.simpleroptions.com/9-...f8fe6af8542df5
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,635
  • Nov 19, 2013 6:45am Nov 19, 2013 6:45am
Quoting The Fool
{quote} Thanks, pipple - I'll remember that and try to stay the fck out of my own way. Seriously.
don't sweat it man.
Fool, do you always buy these? I begun selling entirely because of the % of bought options that expire worthless. then I just modified and modified and came up with my current approach.
its all one trade as they say, so I don't sweat taking a very small loss in the SP when I have on a better crude trade, and I still intend on profiting from the SP before cycle end, but the emini options are skewed even more on the call side than usual because we are in unchartered territory, and there is no historical data. makes it difficult for me to roll safely (or smart)
have you ever just tried a simple naked strangle writing strategy? I find if you incorporate buying you are becoming directional, and I treat options as a vehicle which can be trading more mathematically. I guess stock options have to be somewhat similar to what I do.
have you ever looked at the % of bought vs sold options in your history and looked at the #s of what worked and what didn't......I have no idea, but you might be surprised at what you see.
naked options get a bad rap man, I love em.
  • #1,636
  • Nov 19, 2013 6:47am Nov 19, 2013 6:47am
Quoting The Fool
John Carter. I'm not promoting the guy. He's selling training DVD's etc. I never bought any and pretty sure I won't. He sends me several emails a week and occasionally I look at one. Just thought some of yas might be interested. http://members.simpleroptions.com/9-...f8fe6af8542df5
I actually did a webinar with johns old partner Hubert. they seem like decent guys, but I cant help but borderline hate everyone in my industry....haha. john seems to give out some good info from what I have been told, but who knows
  • #1,637
  • Nov 19, 2013 6:51am Nov 19, 2013 6:51am
Quoting The Fool
{quote} i could do both, looking at a $84/$76 11/21 long strangle on HD, would want to get in net debit <$0.35
...missed that HD was b4 the bell, so no go. $2 jump on earnings not enough on the $84c side above anyway
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,638
  • Nov 19, 2013 6:56am Nov 19, 2013 6:56am
Quoting pipple
{quote} don't sweat it man. Fool, do you always buy these? naked options get a bad rap man, I love em.
it has not taken long in my brief career in options trading to be sold on writing vs buying. However, it all boils down to margin for me. Writing naked requires more cash, unless I spread - which helps. So, until I build up the warchest that's where I'm at.

Why don't you find me a rich old widow in Dallas who needs a pool boy?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,639
  • Nov 19, 2013 7:04am Nov 19, 2013 7:04am
Quoting Cecil Gee
{quote} it may struggle at $119 with any luck bounce from there or 120
TSLA trying to claw back, looking at $126 now. I thought we'd see buyers at $120. Stoopid move ruined my day yesterday, let greed defeat circumspection...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,640
  • Nov 19, 2013 7:09am Nov 19, 2013 7:09am
Quoting pipple
{quote} don't sweat it man. Fool, do you always buy these? I begun selling entirely because of the % of bought options that expire worthless.
It's often said that 80% of options expire worthless, but this is apparently not the case.

http://www.cboe.com/advisors/knowledge/myth1.aspx

It's a lot harder to write options (profitably) for time premium than many think.
I have no clue what I'm talking about.
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