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Let's Trade Options

  • #2,001
  • Dec 4, 2013 11:07am Dec 4, 2013 11:07am
Opened another trade on Starbucks, longed puts $79 for 15c/15$per contract.
Starbucks trading at $80.10
would be better if indexes were lined up equal

Starbucks Corporation (SBUX)
-NasdaqGS
80.10 http://l.yimg.com/a/i/us/fi/03rd/down_r.gif 0.45(0.56%) 5:06PM GMT - Nasdaq Real Time Price


SBUX Dec 2013 79.000 put (SBUX131206P00079000)
-OPR
0.15 http://l.yimg.com/a/i/us/fi/03rd/down_r.gif 0.06(28.57%) 16:32
  • #2,002
  • Dec 4, 2013 11:23am Dec 4, 2013 11:23am
had a limit order in for 100.50s.....then pulled it.....put it back for $200 instead.....got it filled.....now trading $240 ugh
looks like pulling back.
rough water.....
  • #2,003
  • Dec 4, 2013 11:28am Dec 4, 2013 11:28am
I have very little patience left for this cycle.....
exp is 2 Mondays from now.....
If I am forced to roll the 100.50s that will be the last trade I do. I wont even put myself in a position to lose more than 4-5% in a cycle.
as I sit now I am around a 4% loss.....but have all that and then some still in short options.....so book will look different come Monday
even if I have to roll it will end up down 1-2% or breakeven.....or possibly up 1-2% depending on how I finish. last 3-4 cycles were so good you get spoiled sometimes with options.....
even I forget sometimes that any profit is good profit.......and they all don't have to be 6-10% deals
just feel like I had the bird in hand and got rug pulled out from underneath me.....but even still.....I think risk vs. reward it illustrates why options are better IMO
  • #2,004
  • Dec 4, 2013 11:31am Dec 4, 2013 11:31am
btw beans looking good
1380 calls only worth around $150 each.
1260 puts around same
crap if I woulda seen crude coming I woulda settled into 3x as many beans they were a lifesaver
  • #2,005
  • Dec 4, 2013 11:45am Dec 4, 2013 11:45am
Quoting pipple
btw beans looking good 1380 calls only worth around $150 each. 1260 puts around same crap if I woulda seen crude coming I woulda settled into 3x as many beans they were a lifesaver
took of my USO trade a little too early was expecting it to go even higher, close to 50 day and 200
  • #2,006
  • Dec 4, 2013 11:48am Dec 4, 2013 11:48am
sorry for off-topic, but anybody knows a broker to trade european bonds? I am interested in receiving interest on them, gov obligations are good too - I cant find anything, except banks. That is - a broker with a leverage to trade it
  • #2,007
  • Dec 4, 2013 11:52am Dec 4, 2013 11:52am
Quoting Ulterior
sorry for off-topic, but anybody knows a broker to trade european bonds? I am interested in receiving interest on them, gov obligations are good too - I cant find anything, except banks
You can trade European bonds with IB I think. https://www.interactivebrokers.com/c...ymbolsearch.pl contract type Future, type bond in the description.
I have no clue what I'm talking about.
  • #2,008
  • Dec 4, 2013 12:40pm Dec 4, 2013 12:40pm
Quoting Cecil Gee
{quote} instead of longing puts I've opened a position of long $49 call on Facebook FB for Fridays expiration at 20c or 20$ per contract, this is because of a bounce and that we may enter a xmas rally. Facebook was trading around $47.69 when I got the option now its at $47.94 FB Dec 2013 49.000 call (FB131206C00049000) -OPR 0.20 {image} 0.06(42.86%) 16:22 Facebook, Inc. (FB) -NasdaqGS 47.93 {image} 1.20(2.57%) 4:46PM GMT - Nasdaq Real Time Price
closed out Facebook trade a while ago once the market accelerated its reverse down move from the opening bounce. closed for 31c or $31 per contract, a little profit is better than none.

FB Dec 2013 49.000 call (FB131206C00049000)
-OPR
0.31 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.17(121.43%) 18:13
  • #2,009
  • Dec 4, 2013 12:43pm Dec 4, 2013 12:43pm
Quoting Cecil Gee
Today's closes on indexes are so important, lower closes could mean an accelerated fall before NFP is due out
this is now going to be so close, I may after all have to long puts on indexes just before the close
  • #2,010
  • Dec 4, 2013 12:44pm Dec 4, 2013 12:44pm
Quoting Ulterior
sorry for off-topic, but anybody knows a broker to trade european bonds? I am interested in receiving interest on them, gov obligations are good too - I cant find anything, except banks. That is - a broker with a leverage to trade it
if you are looking to trade EU Sov bonds cash then you could look at Saxo, the only way you are gonna get interest on the bonds with futures is by the carry/roll aspect but that being said DO NOT BUY bonds at these levels, the MTM loss of a 10yr generic will be about 5 years worth of interest next year (that is a conservative estimate)

It is not the right time to buy bonds for interest, if you are looking for that, buy high yield stocks.

if you want to trade futures, there are many EUREX/LIFFE brokers and CFD providers, but IB are good (I use them)
  • #2,011
  • Dec 4, 2013 12:49pm Dec 4, 2013 12:49pm
Quoting Cecil Gee
{quote} Any close below 1787 I'll be shorting on the S&P even before the data is released we're at 1792 today, as stated earlier the $ looking too weak. Just a waiting game for now
DXY is getting weaker only the 50 day can save just sitting underneath
  • #2,012
  • Dec 4, 2013 1:05pm Dec 4, 2013 1:05pm
Quoting Cecil Gee
{quote} closed out Facebook trade a while ago once the market accelerated its reverse down move from the opening bounce. closed for 31c or $31 per contract, a little profit is better than none. FB Dec 2013 49.000 call (FB131206C00049000) -OPR 0.31 {image} 0.17(121.43%) 18:13
ah you bitch, Facebook bounced again and now at 48.37, this will probably go past my strike and hit 50 by the end of the week
  • #2,013
  • Dec 4, 2013 1:20pm Dec 4, 2013 1:20pm
Quoting pipple
I have very little patience left for this cycle.....
mornin pipple. What do you do around the Xmas holidays anyway? I know some traders take healthy breaks then. I was just curious about your schedule, hope you don't mind: do you put in long days? I have tried that, was not for me. Now I find if I catch the US open/close with checking in several times a day, it's enough - probably still works out to around 3 hrs a day sometimes.

I know there are options traders who have 50+ trades open at any time. Probably even more. What's a big number for you? I prolly rarely have >10 trades open at any time. 50+ sounds like work, but I'm sure the reward is there too....

I bitch about the daytrader limit, but in reality, for me it's probably just as well - forces me to consider the trades I can take a little more and keeps me from overtrading....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,014
  • Dec 4, 2013 1:30pm Dec 4, 2013 1:30pm
Quoting The Fool
trying to milk the last juice out of my TSLA spread. I have 12/13 short $106 puts against 12/21 $100p long. Trying to buy back $106p for $0.08, sold for $0.60....need the junkies to buy a few million shares. Then would sell 12/13 $119p for $0.30-$0.40. If that held it would put me ahead about $0.75 in the whole process, + whatever is left in the $100p after 12/13. Missed my best profit chance probably last week when TSLA dipped to $116, but I'm not complaining.... ....did it, bought back 12/13 $106p for $0.08, now watching for the last short put...
trying to sell into a dip at the close, looking for $0.40 from the 12/13 $117 puts...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,015
  • Dec 4, 2013 1:52pm Dec 4, 2013 1:52pm
Quoting Cecil Gee
{quote} this is now going to be so close, I may after all have to long puts on indexes just before the close
honestly I could see it going either way but my gut has been and still is that we will be selling off somewhat into the New Year.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,016
  • Dec 4, 2013 2:20pm Dec 4, 2013 2:20pm
Quoting The Fool
{quote} honestly I could see it going either way but my gut has been and still is that we will be selling off somewhat into the New Year.
If NFP beats by +50k like ADP did, then Friday the S&P will close down 15+. I'm tempted to take a shot at the 12/6 UVXY $22 calls, watching, looking for <$0.30...todays range $0.20-$0.70...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,017
  • Dec 4, 2013 2:22pm Dec 4, 2013 2:22pm
Quoting Cecil Gee
{quote} this is now going to be so close, I may after all have to long puts on indexes just before the close
looks like more waiting, indexes looking to claw back
  • #2,018
  • Edited 5:29pm Dec 4, 2013 2:41pm | Edited 5:29pm
Quoting The Fool
{quote} If NFP beats by +50k like ADP did, then Friday the S&P will close down 15+. I'm tempted to take a shot at the 12/6 UVXY $22 calls, watching, looking for <$0.30...todays range $0.20-$0.70...
UVXY dropping hard, staying out for now.

lotsa dry powder, may blow some on a 12/6 scalp of some kind tomorrow.

Also watching nice 2% pop in gold, still looking to get in a 60-90 day spread with GLD and the miner stocks.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,019
  • Dec 4, 2013 3:03pm Dec 4, 2013 3:03pm
Quoting The Fool
{quote} mornin pipple. What do you do around the Xmas holidays anyway? I know some traders take healthy breaks then. I was just curious about your schedule, hope you don't mind: do you put in long days? I have tried that, was not for me. Now I find if I catch the US open/close with checking in several times a day, it's enough - probably still works out to around 3 hrs a day sometimes. I know there are options traders who have 50+ trades open at any time. Probably even more. What's a big number for you? I prolly rarely have >10 trades open at any...

morning.
I still trade during the holidays, were all junkies here! I would say I am more careful but I am always that way.
In years past I have tried to enter a lot of positions and capitalize on time decay during quiet time.....but that seems useless to depend on lately.
for me, I try to stay in 2 markets and trade out of them......once in a while that will go to 3, but 99% of the time I will use 2 (now its beans and crude)
I try to keep it at 2 strikes per side per instrument(1 or 2 calls and 1 or 2 puts).....otherwise it gets difficult logistically to get out if I have to....like yesterday.....any more exposure and I might not have been able to handle that mess properly.
this isn't set in stone by any means......but it always seems to be the case
change of topic:
a guy who trades through my firm but calls his own shots completely killed that crude all the way down, and for some reason started writing puts about 4 days ago, heavy puts, almost intrinsic.....and absolutely just crushed the market the last 2 days or so.
he has been our client for quite awhile, and absolutely crushes options......I was looking at his account and thinking, "man this guy sure is long crude right now...." and sure enough.....boom! guy made a boatload.
I don't take those kind of stances....I prefer to avoid the market than predict much.....but he sure made it look easy.
  • #2,020
  • Dec 4, 2013 3:07pm Dec 4, 2013 3:07pm
Quoting Cecil Gee
{quote} looks like more waiting, indexes looking to claw back
Dow may just have entered in an area where it might just have a sustained fall without a bounce tomorrow, glad i'm in SBUX / starbucks long puts
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