also the multiple is $12.50 for the Yen to calculate an option premium, so if you see the bid/ask is .00250/.00270 for the 96.50 January put, then multiply 125,000 by the middle value (.00260) and you will get what the option is worth ($325)....assuming you wanna mess with a limit order
overall they look shady to me....just sayin
a'ight I'm with my man Cecil in a 11/22 TLT long strangle, got in $103.50/$105.50 for $0.12/side. Let's see if the Fed heads can move the bond market...
EUR/USD H1 CHART CUP FORMATION We may see a big attack to the 1.38 in 2 days!!! {image}
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David,
Im gonna go out on a limb here......but I think you walked into the wrong bar.
Also, currency options just make me want to throw up, and wanna trade the futures.
After looking at your two charts and pricing out trades just to kill time, you reminded me of why I don't do currency options and trade spot instead.
good luck with the attack on 1.38!!!
that made me laugh.
guy walks into a thread....warns everybody of euro attack on 1.38......runs out screaming!!!
oh the internet.....what a beautiful place.
we are very close to a 5 or so month new low in gold, and I am looking at writing some puts in both gold and silver. when its all said and done though, I will just pick one if I do it.
Jan '14
lets see if I can find the intestinal fortitude
{quote} David, Im gonna go out on a limb here......but I think you walked into the wrong bar. Also, currency options just make me want to throw up, and wanna trade the futures. After looking at your two charts and pricing out trades just to kill time, you reminded me of why I don't do currency options and trade spot instead. good luck with the attack on 1.38!!! that made me laugh. guy walks into a thread....warns everybody of euro attack on 1.38......runs out screaming!!! oh the internet.....what a beautiful place.
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for a minute when I saw that I thought I walked into the wrong place too
in addition to our TLT strangle I'm also in GDX strangle $23 puts with $25 calls on the other leg. Gold is falling which should help in going past my GDX $23 put strike making me profitable in addition TLT is also falling pre market and I have 104 put and you have 103.50 put as part of your strangle.
Now because we have FOMC minutes later if we're in profit by over 200% I'm closing my put side and buying another call at a lower strike more so on the GDX as it will be close to the 52 week low of 22.19 and it will be the first time it will test it, just making you aware for our TLT
Cecil what do you think about gold? It tests here and breaks and we may see that 1180 again......if I had a gun to my head I would say it isn't going to break.....but again that's why I would put on a call as well with my put.....maybe not on the same exact day......but in general.
For gold I am looking at a put about $120 away, and the same for a call.....with roughly 24 trading days left
dammit I had a futures sell limit at 94.50 in oil like I mentioned yesterday and it hit 94.48 for Jan. Not fair. cancelling for now. tease.
im probly just gonna wait for fed to shake out....maybe wait until thurs/fri to initiate anything new since my oil didn't trigger. choppy stuff overall makes me temoted to write gold puts today....I may feel too tempted
Cecil what do you think about gold? It tests here and breaks and we may see that 1180 again......if I had a gun to my head I would say it isn't going to break.....but again that's why I would put on a call as well with my put.....maybe not on the same exact day......but in general. For gold I am looking at a put about $120 away, and the same for a call.....with roughly 24 trading days left dammit I had a futures sell limit at 94.50 in oil like I mentioned yesterday and it hit 94.48 for Jan. Not fair. cancelling for now. tease.
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I'm looking at 1225 first but its strange its falling before the FOMC minutes, with GDX close to its lows i'm thinking Gold may bounce after the minutes are released, we just have to wait and see
im probly just gonna wait for fed to shake out....maybe wait until thurs/fri to initiate anything new since my oil didn't trigger. choppy stuff overall makes me temoted to write gold puts today....I may feel too tempted
{quote} I'm looking at 1225 first but its strange its falling before the FOMC minutes, with GDX close to its lows i'm thinking Gold may bounce after the minutes are released, we just have to wait and see
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Agree. Maybe a hard bounce below 1250 then come back......
what is making you mention 1225? I don't see anything worth stopping at until 1205-1210 then 1180.....im curious. enlighten me if ya don't mind. from my end, its pretty obvious why I say those other levels, I am sure you see why too.
not at all disagreeing with you, but I am curious how you got to that #......most posters on this site I have noticed don't like to explain themselves for fear of looking wrong, you don't strike me as that guy....
I haven't done a thing in gold since back when it had those crazy swings in Sep before n after the meeting. I thankfully got flat b4 meeting back then, was more luck than anything.....really a stroke of help from a higher power I imagine.
It hasn't sat well with me since then for my option writing purposes.....but she always pulls me back in
{quote} Agree. Maybe a hard bounce below 1250 then come back...... what is making you mention 1225? I don't see anything worth stopping at until 1205-1210 then 1180.....im curious. enlighten me if ya don't mind. from my end, its pretty obvious why I say those other levels, I am sure you see why too. not at all disagreeing with you, but I am curious how you got to that #......most posters on this site I have noticed don't like to explain themselves for fear of looking wrong, you don't strike me as that guy.... I haven't done a thing in gold since...
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I see the 1205 area but 1215 area is where push up started in July but i give my self room of around $10/15 because its gold and we're option buyers/sellers so when we get a price to buy or sell we have take in to consideration of Greeks that's why my numbers don't match up exact, its not set number more for my guidance. Everyone will have different numbers.
{quote} I see the 1205 area but 1215 area is where push up started in July but i give my self room of around $10/15 because its gold and we're option buyers/sellers so when we get a price to buy or sell we have take in to consideration of Greeks that's why my numbers don't match up exact, its not set number more for my guidance. Everyone will have different numbers.
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So am I right to assume that GDX you speak of trade pretty much in unison with my gold??
what are the margins on it? a big reason why I shy away from gold/silver a lot is that the margins fluctuate a lot and are expensive. I have found that crude/emini SP are good bang for the buck for my purposes.
GDX is an ETF?
I should know this stuff haha
{quote} So am I right to assume that GDX you speak of trade pretty much in unison with my gold?? what are the margins on it? a big reason why I shy away from gold/silver a lot is that the margins fluctuate a lot and are expensive. I have found that crude/emini SP are good bang for the buck for my purposes. GDX is an ETF? I should know this stuff haha
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yea GDX is an ETF, I don't write them so not sure on margin. Your right on fluctuations though on GOLD they can swing. buying these for me is easier because of the close strike prices
I use very few indicators...but one I have used for years is this TDI. I think you can get it free on here somewhere. Don't know if you use it, but on the daily gold chart it kind of looks like there is more room down on it.
it has always struck me as less lagging than others, but still lags. it has made me good $ over time tho. I recommend it.
{quote} So am I right to assume that GDX you speak of trade pretty much in unison with my gold?? what are the margins on it? a big reason why I shy away from gold/silver a lot is that the margins fluctuate a lot and are expensive. I have found that crude/emini SP are good bang for the buck for my purposes. GDX is an ETF? I should know this stuff haha
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most of the time they do but notice how Golds has fallen a bit today but GDX hasn't moved, this makes me apprehensive a little. Normally GDX would drop by a whole $ now. This maybe because GDX is near its 52 week low so its daily range may have decreased with it
I use very few indicators...but one I have used for years is this TDI. I think you can get it free on here somewhere. Don't know if you use it, but on the daily gold chart it kind of looks like there is more room down on it. it has always struck me as less lagging than others, but still lags. it has made me good $ over time tho. I recommend it.
