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  • #1,701
  • Nov 20, 2013 11:45am Nov 20, 2013 11:45am
Quoting Cecil Gee
{quote} TLT below 103
water under the bridge
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,702
  • Edited 12:13pm Nov 20, 2013 11:49am | Edited 12:13pm
Quoting The Fool
I am looking for some yearend selling on some of these over pumped spec stocks, want to have dry powder to catch some o that. ...
one way I might try to catch a rotation out of spec small cap stocks into large cap is via TZA, which returns 3x % inverse of the ^RUT:

"The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the Russell 2000 Index. The fund, under normal circumstances, creates short positions by investing at least 80% of its assets in financial instruments that, in combination, provide leveraged and unleveraged exposure to the index. The index measures the performance of the small-cap segment of the U.S. equity universe and is comprised of the smallest 2000 companies in the Russell 3000 Index, representing approximately 10% of the total market capitalization of that index. The fund is non-diversified."

....did it, long 12/21 TZA $24 calls for $0.36
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,703
  • Nov 20, 2013 12:08pm Nov 20, 2013 12:08pm
glad I didn't screw the pooch on that gold......
$31 down....crazy.....it looks like its in no mans land on the daily chart now.......could be a bigger drop......
hope my crude just keeps chillin
I shorted futures at 93.79 for Jan.....trying to lessen any sting on the puts.....they are in profits but I don't think for long. I really wouldn't mind at all if a nice drop happened from here and forced me to roll out the puts.....lot of time left
new calls looking nice. sold for $260 and already worth $190
  • #1,704
  • Nov 20, 2013 12:17pm Nov 20, 2013 12:17pm
Quoting Cecil Gee
{quote} no, I'm'm looking at Facebook and LVS, waiting for prices to settle

bought a LVS $68 puts some minutes ago for 13c, tried for a lower price but could not get it/

LVS price;

Las Vegas Sands Corp. (LVS)
-NYSE
68.98 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 0.37(0.53%) 20:13 - Nasdaq Real Time Price


LVS Nov 2013 68.000 put (LVS131122P00068000)
-OPR
0.13 http://l.yimg.com/a/i/us/fi/03rd/down_r.gif 0.10(43.48%) 19:51
  • #1,705
  • Nov 20, 2013 12:24pm Nov 20, 2013 12:24pm
Quoting Cecil Gee
GDX strangle of buying $25 call and buying the $23 put, the pair can be bought for under 23c just after or through the day then I'm a buyer of them too GDX closed at $24.13 on Friday Market Vectors Gold Miners ETF (GDX) -NYSEArca 24.13 15 Nov 21:00|Pre-Market : 23.99 {image} 0.14 (0.58%) 13:38 - Nasdaq Real Time Price GDX Nov 2013 25.000 call (GDX131122C00025000) -OPR 0.16 {image} 0.14(46.67%) 15 Nov 20:59 GDX Nov 2013 23.000 put (GDX131122P00023000) -OPR 0.09 {image} 0.01(12.50%) 15 Nov 20:54

closed out the put leg in GDX strangle for $65 , bought for$9, still have the call side running $25 call and 24.50 call, combined cost of $20,. If gold continues its slide then they will expire worthless but overall profitable

GDX Nov 2013 23.000 put (GDX131129P00023000)
-OPR
0.65 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.41(170.83%) 8:05PM GMT
  • #1,706
  • Nov 20, 2013 12:42pm Nov 20, 2013 12:42pm
Quoting Cecil Gee
{quote} closed out the put leg in GDX strangle for $65 , bought for$9


I am mostly up against my limits for the week, not much left to do. TSLA 11/22 $115 short puts still irking me, will need to deal with that maybe b4 opex. Have SSO 11/22 $86 short puts, should be ok there.

In small accounts or papertrade might do a TGT strangle, say $63.50/$69.00 for $0.17/$0.24, net debit ~$0.42.
Would need min. $2.00 move to make money...

Good luck junkies, hope ya'll are killing..
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,707
  • Nov 20, 2013 1:11pm Nov 20, 2013 1:11pm
Quoting pipple
I just sold more crude calls. Jan 99s for $260 each. Did about 1 call for roughly every $10-12k or so I have in each account.....so for every 100k or so I wrote 8-10 lets see........
First big freeze of the season is gonna catch up with US crude shorts, but $99 looks safe for a good while...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,708
  • Nov 20, 2013 2:12pm Nov 20, 2013 2:12pm
Quoting The Fool
{quote} First big freeze of the season is gonna catch up with US crude shorts, but $99 looks safe for a good while...
could be....I just didn't like the 100s deteriorating so much compared to the 87.50s, so I wanted more calls on. I am getting close to the point where I just wont write any more and just sit and wait for deterioration. Don't know how long I will keep the 1 lonely future on per account, but if crude goes down to 92 like I think next week, then it will save me some time while the puts get more expensive. I really just want to get to 2 Fridays from now, let that weekend go by, and hopefully be right around here or a touch lower by then.....if that all happens, then I will write more puts as deep as I can reasonably get to even out the book. I am honestly surprised I haven't had to make adjustments yet....even in slow crude markets it still pushes me around sometimes ya know.....but I am not complaining at all.
it gets hairy sometimes, but I can always lighten up on the call side if need be......have plenty of margin available as I am sitting at just around 50% M/E per account. I have about 2 to 1 (roughly) call to put....but I am not at all counting the 105s in those #s, since I will most likely throw in a GTC order to buy those back at $10 in a few days or sooner. No reason to leave em on for $10
  • #1,709
  • Nov 20, 2013 11:50pm Nov 20, 2013 11:50pm
Quoting The Fool
{quote} one way I might try to catch a rotation out of spec small cap stocks into large cap is via TZA, which returns 3x % inverse of the ^RUT: " ....did it, long 12/21 TZA $24 calls for $0.36
damn, I guess I just called top. That's what sisse did here right b4 he abandoned the FF. Well, he was a good un anyway.

Anyway, TZA's bull brother is TNA, with about 3x the share price atm, so a better candidate for some credit spreads....

Dec 21 long $75c @ $0.57 short $71c @ $1.52 net credit $0.95
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,710
  • Nov 21, 2013 5:24am Nov 21, 2013 5:24am
Quoting The Fool
{quote} damn, I guess I just called top. That's what sisse did here right b4 he abandoned the FF. Well, he was a good un anyway. Anyway, TZA's bull brother is TNA, with about 3x the share price atm, so a better candidate for some credit spreads.... Dec 21 long $75c @ $0.57 short $71c @ $1.52 net credit $0.95
Fool....just thinking out loud here after reading a previous post from ya.
Talk me thru why not just sell these TNA calls naked around a $73 call and (after looking at it a bit) also a naked $66 put (roughly)
I ask because when I do this, it doesn't take me extra margin, it actually cuts my margin down to put on both sides.
what is the difference in margin between the credit spread taking in .95 and doing a naked one taking in....say....$1.80
I am just trying to grasp the mindset behind it. Thought process??
What would be the margin difference between doing it with a spread vs doing it with a strangle?
It also seems to be in an area (much like S&P) where option prices may be skewed due to it being at levels it isn't used to.....and that thing moves it looks like. Does it look like that on your chain?
  • #1,711
  • Nov 21, 2013 5:52am Nov 21, 2013 5:52am
When the market opens i will be taking a position on caterpillar, looking to buy put options going into Decembers expiration. I want to buy the $78 puts for 12c or less.
Caterpillar results were not as good this time around

caterpillar price currently is $82.68

Caterpillar Inc. (CAT)
-NYSE
82.68 20 Nov 21:00|Pre-Market : 82.88 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 0.20 (0.24%) 13:12 - Nasdaq Real Time Price


CAT Dec 2013 78.000 put (CAT131213P00078000)
-OPR
0.14 0.00(0.00%) 20 Nov 20:56
  • #1,712
  • Nov 21, 2013 5:59am Nov 21, 2013 5:59am
Quoting Cecil Gee
When the market opens i will be taking a position on caterpillar, looking to buy put options going into Decembers expiration. I want to buy the $78 puts for 12c or less. Caterpillar results were not as good this time around caterpillar price currently is $82.68 Caterpillar Inc. (CAT) -NYSE 82.68 20 Nov 21:00|Pre-Market : 82.88 {image} 0.20 (0.24%) 13:12 - Nasdaq Real Time Price CAT Dec 2013 78.000 put (CAT131213P00078000) -OPR 0.14 0.00(0.00%) 20 Nov 20:56
so for $12 (plus fees) you will own that?
what is margin?
  • #1,713
  • Nov 21, 2013 6:02am Nov 21, 2013 6:02am
wow things are really moving pre market today.....
  • #1,714
  • Nov 21, 2013 6:14am Nov 21, 2013 6:14am
Quoting pipple
{quote} so for $12 (plus fees) you will own that? what is margin?
as I'm just buying long put option on a non marginable i'm just required to pay the premium plus fees
  • #1,715
  • Nov 21, 2013 6:23am Nov 21, 2013 6:23am
Quoting pipple
{quote} Fool....why not just sell these TNA calls naked around a $73 call and (after looking at it a bit) also a naked $66 put (roughly) What would be the margin difference between doing it with a spread vs doing it with a strangle?
OK, I will try to answer this later in more detail, but naked stop options writes have to be cash-secured and there's a formula for how much cash is required. At any rate, it's possible that you are trading out of accounts that are much larger than mine.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,716
  • Nov 21, 2013 6:24am Nov 21, 2013 6:24am
Quoting Cecil Gee
When the market opens i will be taking a position on caterpillar, looking to buy put options going into Decembers expiration. I want to buy the $78 puts for 12c or less. Caterpillar results were not as good this time around caterpillar price currently is $82.68 Caterpillar Inc. (CAT) -NYSE 82.68 20 Nov 21:00|Pre-Market : 82.88 {image} 0.20 (0.24%) 13:12 - Nasdaq Real Time Price CAT Dec 2013 78.000 put (CAT131213P00078000) -OPR 0.14 0.00(0.00%) 20 Nov 20:56
Holding of on the above until Caterpillar has finished its pre market bounce, will update later
  • #1,717
  • Nov 21, 2013 6:27am Nov 21, 2013 6:27am
Quoting The Fool
{quote} I am mostly up against my limits for the week, not much left to do. TSLA 11/22 $115 short puts still irking me, will need to deal with that maybe b4 opex. Have SSO 11/22 $86 short puts, should be ok there. In small accounts or papertrade might do a TGT strangle, say $63.50/$69.00 for $0.17/$0.24, net debit ~$0.42. Would need min. $2.00 move to make money... Good luck junkies, hope ya'll are killing..
TGT down $2.20 premarket, maybe enough to make some money, hope I can get to my put strike...want to see TSLA creep up and wait til December to really tank like I planned...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,718
  • Edited 9:23am Nov 21, 2013 6:35am | Edited 9:23am
Quoting The Fool
{quote} ....did it, long 12/21 TZA $24 calls for $0.36
so, market up again, I will watch to sell Nov 22 calls early Friday - $21c now $0.19, $20.50 now $0.38

...pipple if I spread like this it defeats the high cash-secured margin requirement for selling, which is of course why I am always looking to do it.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,719
  • Nov 21, 2013 7:39am Nov 21, 2013 7:39am
Quoting Cecil Gee
{quote} bought a LVS $68 puts some minutes ago for 13c, tried for a lower price but could not get it/ LVS price; Las Vegas Sands Corp. (LVS) -NYSE 68.98 {image} 0.37(0.53%) 20:13 - Nasdaq Real Time Price LVS Nov 2013 68.000 put (LVS131122P00068000) -OPR 0.13 {image} 0.10(43.48%) 19:51

closed the above trade for 6c, taking a loss on this 7c / $7 per contract
  • #1,720
  • Nov 21, 2013 7:43am Nov 21, 2013 7:43am
opened another trade on Facebook, long $46 puts for 15c / $15 per contract

Facebook trading at $46.94

Facebook, Inc. (FB)
-NasdaqGS
46.94 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.51(1.10%) 15:42 - Nasdaq Real Time Price


FB Nov 2013 46.000 put (FB131122P00046000)
-OPR
0.15 http://l.yimg.com/a/i/us/fi/03rd/down_r.gif 0.25(62.50%) 15:19
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