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Let's Trade Options

  • #2,861
  • Feb 11, 2014 8:21am Feb 11, 2014 8:21am
Bulls look to be readying to launch off support in NG. They seem to have taken it virtually to the pip yesterday at circa 4.57/4.58. I would imagine they would be gunning for prices somewhere between here and $5 at expiry but that's probably the most ridiculously simplistic model calculation that I have performed in my little head.
Front month options expire in 2 weeks. Ah, the life of an option seller...constantly wishing it away.
I have no clue what I'm talking about.
  • #2,862
  • Feb 11, 2014 9:13am Feb 11, 2014 9:13am
Quoting The Fool
CTL has ER 2/12. has been beat down from $42 to $28 this year. No weeklies. Trades today @ $28.7x-28.3x. $2+ moves on previous ER's. Options are cheap, 2/22 $30c $0.25, $31c $0.10; $27p $0.25, $26p $0.15. ...bought 2/22 $31c @ $0.08, trying to get in 2/22 $27p for <$0.20 .... trying to get filled on the puts at $0.15, not happening...

strangled CTL for $0.17 net, calls have gone up eo $0.20, ratioed 2:1 calls to puts, looking good, may close half of the calls before the ER
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,863
  • Feb 11, 2014 9:15am Feb 11, 2014 9:15am
took a shot at 2/22 EEM $39.50c for $0.25
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,864
  • Feb 11, 2014 10:53am Feb 11, 2014 10:53am
Purchased some long contracts on LVS $79 CALL for 36c or $36 per contract. Looking for further movement to the top
lvs underly price is $77.80

Las Vegas Sands Corp. (LVS)

-NYSE

77.80 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 1.76(2.31%) 4:52PM GMT - Nasdaq Real Time Price


LVS Feb 2014 79.000 call (LVS140214C00079000)

-OPR

0.36 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.20(125.00%) 16:27
  • #2,865
  • Feb 11, 2014 11:09am Feb 11, 2014 11:09am
Quoting The Fool
took a shot at 2/22 EEM $39.50c for $0.25
T.F. that trade might do quite well, need it to close above 39.02 then i may look at it my self but good luck anyway
  • #2,866
  • Feb 11, 2014 11:26am Feb 11, 2014 11:26am
Quoting Cecil Gee
{quote} T.F. that trade might do quite well, need it to close above 39.02 then i may look at it my self but good luck anyway
Thanks, CG, yes EEM is pretty dicey but if we can get the remainder of the week to run up in US indices EEM should make a run on $40
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,867
  • Feb 11, 2014 11:30am Feb 11, 2014 11:30am
Quoting The Fool
{quote} Thanks, CG, yes EEM is pretty dicey but if we can get the remainder of the week to run up in US indices EEM should make a run on $40
  • #2,868
  • Feb 11, 2014 11:36am Feb 11, 2014 11:36am
FXE and $XEU both have euro struggling to get above there respected 50 day, if we can clear and close above them then I'm on the opinion the euro will accelerate higher
  • #2,869
  • Feb 11, 2014 11:36am Feb 11, 2014 11:36am
Quoting The Fool
{quote} strangled CTL for $0.17 net, calls have gone up eo $0.20, ratioed 2:1 calls to puts, looking good, may close half of the calls before the ER
this is actually a 2/22 $26p/$31c strangle, bought for $0.09/$0.08, $0.17 net debit. Ratioed 2:1 the call side. The calls have gone to $0.35. I have a sell order on the calls for $0.40.....

CTL ER's 2/12. What should I do? I thought CTL looked like it could bounce, as it was beat down all last year. My $0.08 calls could easily go to $0.80 or more. My luck though it's a dog and it tanks on the ER and my strangle languishes and loses money.

Bird in hand vs. none in a bush...?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,870
  • Feb 11, 2014 11:40am Feb 11, 2014 11:40am
Quoting The Fool
{quote} this is actually a 2/22 $26p/$31c strangle, bought for $0.09/$0.08, $0.17 net debit. Ratioed 2:1 the call side. The calls have gone to $0.35. I have a sell order on the calls for $0.40..... CTL ER's 2/12. What should I do? I thought CTL looked like it could bounce, as it was beat down all last year. My $0.08 calls could easily go to $0.80 or more. My luck though it's a dog and it tanks on the ER and my strangle languishes and loses money. Bird in hand vs. none in a bush...?
you have doubled your total option price, that's a good trade. Yes it may go higher but anything can happen with earnings, as you know it could go for you or against you but taken profit you stay a winner
  • #2,871
  • Feb 11, 2014 11:41am Feb 11, 2014 11:41am
Quoting The Fool
looking to next week, CSCO earnings out 2/12. I made good money strangling CSCO last qtr. Looks like ER's shake out a $2 move or better. Currently trading ~$22.50, a 2/22 $24c/$21p cost me $0.24 each side, $0.48 net debit.
this may do well but it was a mistake to buy in as early as I did, could get the same strikes for $0.10 less now....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,872
  • Feb 11, 2014 11:42am Feb 11, 2014 11:42am
Quoting Cecil Gee
{quote} you have doubled your total option price, that's a good trade. Yes it may go higher but anything can happen with earnings, as you know it could go for you or against you but taken profit you stay a winner
yep was just seeing if I could get a nudge to $0.40.....with the 2:1 call side ratio the strangle is up >3x
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,873
  • Feb 11, 2014 12:56pm Feb 11, 2014 12:56pm
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
I don't trust the above trade, it has rejected of the 50 day so I closed it at 16c or $16 per contract, i lost $1 per conttact


FXE Feb 2014 136.000 call (FXE140222C00136000)

-OPR


0.16 http://l.yimg.com/a/i/us/fi/03rd/down_r.gif 0.02(11.11%) 18:25
  • #2,874
  • Feb 11, 2014 1:03pm Feb 11, 2014 1:03pm
Quoting Cecil Gee
{quote} I don't trust the above trade, it has rejected of the 50 day so I closed it at 16c or $16 per contract, i lost $1 per conttact FXE Feb 2014 136.000 call (FXE140222C00136000) -OPR 0.16 {image} 0.02(11.11%) 18:25
was not a bad idea but the euro seems weighed down by the usual eurozone macro concerns, too much to hatch a breakout. Long usd/jpy maybe a better risk-on currency trade.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,875
  • Feb 11, 2014 1:43pm Feb 11, 2014 1:43pm
Quoting Boy Wonder
Bulls look to be readying to launch off support in NG. They seem to have taken it virtually to the pip yesterday at circa 4.57/4.58. I would imagine they would be gunning for prices somewhere between here and $5 at expiry but that's probably the most ridiculously simplistic model calculation that I have performed in my little head. Front month options expire in 2 weeks. Ah, the life of an option seller...constantly wishing it away.
NG up 5% now, rolled one of my puts up by 10c.
I have no clue what I'm talking about.
  • #2,876
  • Feb 11, 2014 1:53pm Feb 11, 2014 1:53pm
Bears getting a mauling on ES. It's gone a bit mental...past R3 on the daily according to mypivots.
Tempted to roll up some short puts but can't help feeling I'd be doing it at the top.
I have no clue what I'm talking about.
  • #2,877
  • Feb 11, 2014 2:06pm Feb 11, 2014 2:06pm
Hi,

Anyone looking at FOSL. Earning after the bell. My position.

SOLD 100 FOSL Feb14'14 140 CALL (FOSL)
  • #2,878
  • Feb 11, 2014 2:15pm Feb 11, 2014 2:15pm
Quoting njr
Hi, Anyone looking at FOSL. Earning after the bell. My position. SOLD 100 FOSL Feb14'14 140 CALL (FOSL)
Been watching but in too much else, $140 looks like a tall order, if it spikes up near there or beyond would likely be sold back down pdq
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,879
  • Feb 11, 2014 2:30pm Feb 11, 2014 2:30pm
Quoting The Fool
{quote} Been watching but in too much else, $140 looks like a tall order, if it spikes up near there or beyond would likely be sold back down pdq
EEM looking solid T.F., aldo is the LVS i'm in that one.
  • #2,880
  • Feb 11, 2014 2:31pm Feb 11, 2014 2:31pm
Quoting njr
Hi, Anyone looking at FOSL. Earning after the bell. My position. SOLD 100 FOSL Feb14'14 140 CALL (FOSL)
not in that one but good luck with it
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