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Let's Trade Options

  • #2,341
  • Edited 2:43pm Jan 3, 2014 2:02pm | Edited 2:43pm
Quoting The Fool
{quote} had a chance to make a dime on these at the open, was not nimble enough. UVXY demands screen time and a quick hand, may not be my cup o' meat. I still think shorting VIX spikes is the only way to play VIX now
UVXY moving on $17.00, hour to close, need that strike for 1/3 $17.00 puts, Thanks Ben....

VIX crashed at the close and I got out for $0.16 (net $0.04 less comms), made $8, prolly get me a corndog for lunch
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,342
  • Jan 3, 2014 11:57pm Jan 3, 2014 11:57pm
Did anyone else check out the new "Dough" website from the tastytrade folks? I just signed up on the beta site this evening.

I have been playing with the demo trader - here's a GOOG calendar put spread I thought about....
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-01-03_DOUGH01.png Size: 628 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,343
  • Jan 4, 2014 12:26am Jan 4, 2014 12:26am
lies, lies, and statistics...? Here are two GOOG calendar spreads:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2014-01-03_goog02.png Size: 590 KB
Click to Enlarge Name: 2014-01-03_goog03.png Size: 590 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,344
  • Edited 12:44am Jan 4, 2014 12:31am | Edited 12:44am
the long 3/22 $960p @ $5.95, short 2/07 $1,010p @ $5.45 (net debit $0.50) supposedly has a 54% POP and a 24% ROC.

the long 3/22 $955p @ $5.55, short 2/07 $1,010p @ $5.45 (net debit $0.10) supposedly has a 75% POP and a 127% ROC.

Really? Should a trader trust these kinds of numbers?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,345
  • Jan 5, 2014 2:22pm Jan 5, 2014 2:22pm
MU earnings out Tuesday close, heavy volume in the near-term puts and calls, Feb $23 calls one of the largest options trades from last week. Long or short? Jan-Feb call/put ratio looks very call-heavy. 12.5% of the float is short.

http://blogs.barrons.com/techtraderd...rrons&ru=yahoo

Are the heavy otm calls short, capping short stock positions? Or outright gambles on a short squeeze post earnings?

Not sure I care.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,346
  • Edited 3:45am Jan 6, 2014 3:32am | Edited 3:45am
data heavy week ahead & markets are looking for an excuse to blow off some steam.....(?)

Watching UVXY, down premarket in early euro session, I may be a weekly call buyer (or a spreader) for chances on continuing China, CB's, employment data impacts .... lookout for UVXY low $16.xx Mon-Tue
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,347
  • Jan 6, 2014 9:08am Jan 6, 2014 9:08am
Quoting The Fool
data heavy week ahead & markets are looking for an excuse to blow off some steam.....(?) Watching UVXY, down premarket in early euro session, I may be a weekly call buyer (or a spreader) for chances on continuing China, CB's, employment data impacts .... lookout for UVXY low $16.xx Mon-Tue
Put in a order for a 7 week LONG strangle on FCX for February 22 expiration, prices are relatively low on a 2 strike OTM option plus there is earnings in two weeks or so and imo FCX is ready for some volatile swings.
Fcx current price $36.92

Freeport-McMoRan Copper & Gold Inc. (FCX)
-NYSE
36.92 http://l.yimg.com/a/i/us/fi/03rd/down_r.gif 0.40(1.07%) 3:08PM GMT - Nasdaq Real Time Price


long Feb $39 call for 50c
long Feb $35 put for 60c

Waiting for execution
  • #2,348
  • Jan 6, 2014 9:10am Jan 6, 2014 9:10am
RF treating me right for the start of the week..... heavy heavy volume in the direction I needed... Volume on a lot of other things looks mediocre so far.

Quoting JoeNY
I'm in on RF. $9 Feb CALL... Earnings the week of Jan 21st... I'm out of the trade at my target % or before earnings release, whichever comes first... Riding a nice .81 Delta.. {image}
SPC * Swollen PocketZ Crew!
  • #2,349
  • Jan 6, 2014 9:38am Jan 6, 2014 9:38am
Financials are gaining before there earnings in 10 days time, volatility increasing the options on GS and C
  • #2,350
  • Edited 1:23pm Jan 6, 2014 11:06am | Edited 1:23pm
Quoting Cecil Gee
Financials are gaining before there earnings in 10 days time, volatility increasing the options on GS and C
yup, didn't get in those, may scalp at earnings.

Watching YELP instead, rising well today, nearing $71 - been sold down hard from previous jaunts into $72+ territory....

...in Feb $65p at $4.50, YELP earnings are 2/5 close
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,351
  • Jan 6, 2014 11:06am Jan 6, 2014 11:06am
Quoting Cecil Gee
Financials are gaining before there earnings in 10 days time, volatility increasing the options on GS and C
Longed Facebook weekly options and looking for FB to test it high of $58.62 this week. bought the option for 56c or $56 per contract. Its expensive so only a few contracts.
Facebook is trading at $55.72 as I write

FB Jan 2014 56.500 call (FB140110C00056500)
-OPR
0.56 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.15(36.59%) 16:46
  • #2,352
  • Edited 11:57am Jan 6, 2014 11:36am | Edited 11:57am
Quoting Cecil Gee
{quote} Longed Facebook weekly options and looking for FB to test it high of $58.62
I don't think TWTR can be kept down, either - has less than 20% available shares as FB. TWTR down ~5% today on more downgrades...

bought Feb 22 $75 calls for $5.46, will look to sell Jan xx >$75 calls on strength
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,353
  • Jan 6, 2014 12:47pm Jan 6, 2014 12:47pm
Quoting The Fool
MU earnings out Tuesday close, heavy volume in the near-term puts and calls, Feb $23 calls one of the largest options trades from last week. Long or short? Jan-Feb call/put ratio looks very call-heavy. 12.5% of the float is short. http://blogs.barrons.com/techtraderd...rrons&ru=yahoo Are the heavy otm calls short, capping short stock positions? Or outright gambles on a short squeeze post earnings? Not sure .....
MU still sliding pre-earnings, Jan 18 $23c/$19p strangle now $0.35/$0.40, net $0.75+

...bought calls now @ $0.34
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,354
  • Edited 1:50pm Jan 6, 2014 1:17pm | Edited 1:50pm
Another pig on a tear today is Z, which I will be looking to fade if it moves much above $90. trading above $87.50 now....
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-01-06_Z.png Size: 56 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,355
  • Jan 6, 2014 2:17pm Jan 6, 2014 2:17pm
Quoting Cecil Gee
{quote} Longed Facebook weekly options and looking for FB to test it high of $58.62 this week. bought the option for 56c or $56 per contract. Its expensive so only a few contracts. Facebook is trading at $55.72 as I write FB Jan 2014 56.500 call (FB140110C00056500) -OPR 0.56 {image} 0.15(36.59%) 16:46
closed out the above trade on Facebook as the long option I purchased has more than doubled in price and i'm happy with the return in less than a day

longed FB $56.50 call for 56c or $56 per contract and closed it at $1.29 or $129 per contract

FB Jan 2014 56.500 call (FB140110C00056500)
-OPR
1.29 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.88(214.63%) 19:53
  • #2,356
  • Jan 6, 2014 2:52pm Jan 6, 2014 2:52pm
Quoting Cecil Gee
{quote} closed out the above trade on Facebook as the long option I purchased has more than doubled in price and i'm happy with the return in less than a
GOOD job, Cecil, short & sweet, rinse & repeat...

...tempted to do it on my TWTR calls, which are up $0.50, but I'll see what tomorrow brings...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,357
  • Jan 7, 2014 8:30am Jan 7, 2014 8:30am
Quoting The Fool
{quote} MU still sliding pre-earnings, Jan 18 $23c/$19p strangle now $0.35/$0.40, net $0.75+ ...bought calls now @ $0.34
MU rising into the open, be good if it rise all day, but will mostly tread water I expect, nevertheless I will get in some Jan 10 puts to strangle. I lean long here and foretell the short squeeze, but need to cover my ass if wrong..
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,358
  • Jan 7, 2014 8:33am Jan 7, 2014 8:33am
Quoting The Fool
{quote} MU rising into the open, be good if it rise all day, but will mostly tread water I expect, nevertheless I will get in some Jan 10 puts to strangle. I lean long here and foretell the short squeeze, but need to cover my ass if wrong..
Facebook over $57.50, closed out too early testerday
  • #2,359
  • Jan 7, 2014 8:38am Jan 7, 2014 8:38am
pipple's must be having extended holiday break, not seen him in here for a while. Be Good to have him back
  • #2,360
  • Jan 7, 2014 8:43am Jan 7, 2014 8:43am
Quoting Cecil Gee
{quote} Facebook over $57.50, closed out too early testerday
water under the bridge bud & ya can't go broke taking fat profits.

Check out NFLX, down $15 at the open! Yowza!

I am spread short 1/31 $305p, long 2/22 $295p - spread in profit about $1.75. I am looking for $320....
"If The Fool persists in his Folly he will become wise." - William Blake
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