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Let's Trade Options

  • #2,841
  • Feb 8, 2014 3:54pm Feb 8, 2014 3:54pm
Quoting Cecil Gee
{quote} on direct trademonster they quote $50 for 100 contracts but I trade through a another broker that uses TM for execution so I negotiate price
I need to get an account at one of the deep discount brokers. I am paying $9.95(first 1) + $0.75/each added contract at a couple places I trade from. No big deal when I am trading contracts over $3 or so but really puts me in a hole on the cheap contracts where I might like to load up 100+

is your other broker in the US? pm me if you don't want to say it here....thanks
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,842
  • Feb 8, 2014 3:57pm Feb 8, 2014 3:57pm
Quoting The Fool
{quote} I need to get an account at one of the deep discount brokers. I am paying $9.95(first 1) + $0.75/each added contract at a couple places I trade from. No big deal when I am trading contracts over $3 or so but really puts me in a hole on the cheap contracts where I might like to load up 100+ is your other broker in the US? pm me if you don't want to say it here....thanks
yes US based, even your broker has to drop prices when trading volume
  • #2,843
  • Feb 8, 2014 3:59pm Feb 8, 2014 3:59pm
Quoting The Fool
{quote} I need to get an account at one of the deep discount brokers. I am paying $9.95(first 1) + $0.75/each added contract at a couple places I trade from. No big deal when I am trading contracts over $3 or so but really puts me in a hole on the cheap contracts where I might like to load up 100+ is your other broker in the US? pm me if you don't want to say it here....thanks
make sure its a full service broker as some discount brokers may not be completely be
  • #2,844
  • Feb 8, 2014 4:06pm Feb 8, 2014 4:06pm
Quoting Cecil Gee
{quote} make sure its a full service broker as some discount brokers may not be completely be
my next stop will probably be IB....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,845
  • Feb 8, 2014 4:52pm Feb 8, 2014 4:52pm
Quoting The Fool
{quote} I plan on being lost at sea.
Death by drowning? That's quite an unpleasant way to go.
I have no clue what I'm talking about.
  • #2,846
  • Feb 8, 2014 8:32pm Feb 8, 2014 8:32pm
Quoting Boy Wonder
{quote} Death by drowning? That's quite an unpleasant way to go.
The fear of death prolly much more unpleasant than the thing itself.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,847
  • Feb 9, 2014 10:34am Feb 9, 2014 10:34am
Quoting The Fool
{quote} The fear of death prolly much more unpleasant than the thing itself.
Yeah mebbe. Must be pretty painful though running out of oxygen underwater.

TWTR was a bit of a surprise. Are you still in? It put in a decent bull bar on Friday; I wouldn't be surprised to see them take it up from here; there may be lots of shorts on board now that weren't before earnings, which means it could be the set up for a very good squeeze. It's tempting to be long against the Thursday low but that's quite a stop - $5 or thereabouts.
I have no clue what I'm talking about.
  • #2,848
  • Feb 9, 2014 1:36pm Feb 9, 2014 1:36pm
Quoting Boy Wonder
{quote} TWTR was a bit of a surprise. Are you still in? It put in a decent bull bar on Friday; I wouldn't be surprised to see them take it up from here; there may be lots of shorts on board now that weren't before earnings, which means it could be the set up for a very good squeeze. It's tempting to be long against the Thursday low but that's quite a stop - $5 or thereabouts.
yes still have 2/22 $75 long calls near worthless now. I sold otm calls against them b4 ER and made a little, will do so again in coming week as I watch TWTR sp come back. I won't be surprised at this point at anything TWTR may do - in the same vein I'm not thinking of trading it much...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,849
  • Feb 10, 2014 1:09am Feb 10, 2014 1:09am
Z ER's 2/12, maybe
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,850
  • Feb 10, 2014 1:15am Feb 10, 2014 1:15am
TRIP trippin of EXPE's pop, put spread be cheap, ER's 2/11
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-02-09_trip.png Size: 127 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,851
  • Feb 10, 2014 1:18am Feb 10, 2014 1:18am
to fade: YELP, EXPE, GMCR.....?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,852
  • Feb 10, 2014 7:37am Feb 10, 2014 7:37am
The Widowmaker (NG), a bargain down here, naked short a couple of ATM puts on this; I would like to add lots more but that would be pushing it given my account size and the risk that that would represent; there's always a possibility we get a measured move down and that would be *painful*. But I can't help feeling this is an absolute gift down here. Front month options expire 25 Feb.
I have no clue what I'm talking about.
  • #2,853
  • Feb 10, 2014 7:42am Feb 10, 2014 7:42am
ZB (bonds) look good here at 133, playing the weeklies.
I have no clue what I'm talking about.
  • #2,854
  • Feb 10, 2014 8:03am Feb 10, 2014 8:03am
Quoting Boy Wonder
{quote} Got into an INTC combo today....10x(sold Feb 25P, Feb 26C, bought Jul 25P, Jul 26C), and just for good measure sold 5x Jan24 25.5C (i.e. ATMs). The plan is to just keep selling near-term straddles/strangles/whatever against my July longs. INTC is a good company, I'm happy to own them long term (although I don't expect to), they're a cheap (as in in $) stock (as opposed to e.g. AMZN, GOOG, AAPL, NFLX etc) so I'm not gonna get killed if they drop or jump 5% etc. Hopefully a nice stress-free way to make a few $$$. The only thing is there's...
A little update on this. I dumped the profitable long legs (the long puts and short calls) last week and am holding long puts and short calls. Exactly what McMillan says you're not supposed to do, but hey, sometimes the risk/reward is just too juicy.
I have no clue what I'm talking about.
  • #2,855
  • Feb 10, 2014 8:43am Feb 10, 2014 8:43am
Quoting The Fool
TRIP trippin of EXPE's pop, put spread be cheap, ER's 2/11 {image}
trying to get in $75p long/$72.50 short for $0.40 net debit
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,856
  • Feb 10, 2014 10:23am Feb 10, 2014 10:23am
Quoting Cecil Gee
I've taken a trade for next weeks expiration. I've gone long CMG calls $565 for $1.55 or $155 per contract. CMG is trading at $549.37 Chipotle Mexican Grill, Inc. (CMG) -NYSE 549.37 {image} 4.90(0.90%) 7:54PM GMT - Nasdaq Real Time Price CMG Feb 2014 565.000 call (CMG140214C00565000) -OPR 1.55 {image} 0.10(6.06%) 19:31
Closed the above trade for a LOSS of 90c or $90 per contract, not working out. May get it later in the week once the market settles in direction.

closed at 65c or $65 per contract

CMG Feb 2014 565.000 call (CMG140214C00565000)

-OPR

0.65 http://l.yimg.com/a/i/us/fi/03rd/down_r.gif 0.70(51.85%) 15:50
  • #2,857
  • Feb 10, 2014 11:49am Feb 10, 2014 11:49am
Quoting The Fool
{quote} That's really a capital idea, Cecil. We are primed for a risk-on spirit to set in and e/u could put on 300 pips or more no prob in the next week or so. I see FXE 2/14 $136.5c is at $0.02, the 2/22 $137c asks $0.07 as of Friday close and that might bump up if e/u motors up Asian Monday....
I took the FXE trade, I'm long $136 call Feb 22 expiration for 17c or $17 per contract, went 2 weeks out so just for extra time

FXE Feb 2014 136.000 call (FXE140222C00136000)

-OPR

0.17 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.01(6.25%) 5:24PM GMT
  • #2,858
  • Feb 10, 2014 2:29pm Feb 10, 2014 2:29pm
Quoting Cecil Gee
{quote} I took the FXE trade, I'm long $136 call Feb 22 expiration for 17c or $17 per contract, went 2 weeks out so just for extra time FXE Feb 2014 136.000 call (FXE140222C00136000) -OPR 0.17 {image} 0.01(6.25%) 5:24PM GMT
Not sure I will, may pay to wait a bit, may not. May get in other trades.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,859
  • Edited 4:27pm Feb 10, 2014 2:32pm | Edited 4:27pm
Quoting The Fool
{quote} trying to get in $75p long/$72.50 short for $0.40 net debit
did, for $1.40/$1.00, may look at cheap calls....(re: TRIP)
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,860
  • Feb 10, 2014 2:43pm Feb 10, 2014 2:43pm
Quoting The Fool
{quote} ... I will sell 2/22 TSLA puts. TSLA ER out 2/17. Bull put spread $145/$115 will net about $1.05. ...will buy the cheap calls Monday, before the spreads get tweaked pre-ER, then wait/see to sell puts...
looking at $110p/$160p for $0.08/$1.90 or $1.82 net credit
"If The Fool persists in his Folly he will become wise." - William Blake
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