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Let's Trade Options

  • #2,981
  • Feb 16, 2014 11:07am Feb 16, 2014 11:07am
Quoting Boy Wonder
{quote}As for expenses, even a new 'puter every 18 months plus a few subscriptions probably only comes to little more than a grand, maybe 2..
It's true the expenses I can push on the trading business do not pile up fast, usually for me a few grand a year, but every little bit helps. And I could incur more if I wanted to - I know traders do expensable trips to Vegas and NYC, etc, for "training", expo's, etc - fck all that I would rather just pay the man.

On the engineering business I own I buy a new car about every 3 years or so and that helps a lot. It all really depends on the business & what it does, how it's set up. I have thought about various things to flesh out the trading business and I might pursue them at some point. One idea that I have toyed with is opening a trading arcade in Seattle. Rent out space/trading stations to private traders and put on trading/investing related classes and seminars for the general public. I have written up this idea fairly well and the right motivator could make a go of it and franchise it to cities across the US. Be a lot of work though. Easier just to sit here a couple hours a day in my fuzzy slippers and make a few trades...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,982
  • Feb 16, 2014 4:44pm Feb 16, 2014 4:44pm
Quoting The Fool
{quote} I have thought about various things to flesh out the trading business and I might pursue them at some point. One idea that I have toyed with is opening a trading arcade in Seattle. Rent out space/trading stations to private traders and put on trading/investing related classes and seminars for the general public. I have written up this idea fairly well and the right motivator could make a go of it and franchise it to cities across the US. Be a lot of work though. Easier just to sit here a couple hours a day in my fuzzy slippers and make a...
One of the business models is to make a bunch of training DVDs and then sell them at the "deeply discounted" price of $1999.
It's amazing, you can charge only a few bucks for a book, but put the same content on a few plastic silvery discs and you can flog it for thousands.
I have no clue what I'm talking about.
  • #2,983
  • Feb 16, 2014 5:20pm Feb 16, 2014 5:20pm
Quoting Boy Wonder
{quote} One of the business models is to make a bunch of training DVDs and then sell them at the "deeply discounted" price of $1999. It's amazing, you can charge only a few bucks for a book, but put the same content on a few plastic silvery discs and you can flog it for thousands.
the newsletters do well, too. I get glossy ads for them in the mail several a week. Hawking the next penny stock that will blow up. Take the bait for $499. BW, I think you should put up a website with your trade tips - give away a couple a month and offer much, much more to paying subscribers. Don't forget the web ads for Viagra, etc.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,984
  • Feb 16, 2014 5:36pm Feb 16, 2014 5:36pm
Quoting The Fool
{quote} the newsletters do well, too. I get glossy ads for them in the mail several a week. Hawking the next penny stock that will blow up. Take the bait for $499. BW, I think you should put up a website with your trade tips - give away a couple a month and offer much, much more to paying subscribers. Don't forget the web ads for Viagra, etc.


My trade tips are rubbish, I only make money from the passing of time.
I wish I'd been more gung ho on nat gas though last week when it was at 4.59. Look at it now. 5.41! Fook. I'm short "only" 2 puts; I rolled them up to 4.85s and I thought that was pushing it. Shoulda bet the farm on it. Or at least, 1/4 of the farm. But risk, risk, risk....dammit.
I have no clue what I'm talking about.
  • #2,985
  • Feb 16, 2014 5:53pm Feb 16, 2014 5:53pm
I'm holding off on shorting natg until the weather breaks, maybe another 6 weeks or so. Winter was late to arrive and be late to leave I'll bet...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,986
  • Feb 16, 2014 6:05pm Feb 16, 2014 6:05pm
Why would you short it? It's a raging bull; I only want to be long.
I have no clue what I'm talking about.
  • #2,987
  • Feb 16, 2014 6:12pm Feb 16, 2014 6:12pm
Quoting Boy Wonder
Why would you short it? It's a raging bull; I only want to be long.
US natg price follows some fundamental effects on supply/demand such as those produced seasonally by weather, the production cycle re: use of natg for heating/cooling, as a feedstock for ag chemicals, etc, but it's not like clockwork by any means. I would look to short in the early to mid-spring. But in truth, I am not a habitual hydrocarbon trader, so....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,988
  • Feb 16, 2014 6:18pm Feb 16, 2014 6:18pm
Quoting The Fool
{quote} But in truth, I am not a habitual hydrocarbon trader, so....
LOL
I have no clue what I'm talking about.
  • #2,989
  • Feb 17, 2014 1:13am Feb 17, 2014 1:13am
Quoting The Fool
{quote} I dunno, I think lots of us (especially those of us getting on in years) could start in the same ballpark as she did, low range 6-figures. And I know she had to climb a learning curve, like we all do - she says she started out selling covered calls. But then she calls up the allegory of the Tortoise and the Hare....and she, of course, is the Tortoise. Just filling up the milk bucket from the cash cow one squirt at a time. 50,000+ trades per year in a room of 6-7 traders is >30 per day per trader. Day in, day out. With trade sizes in the...

Hey TF - Having a similar account size to what Karen started with would be a great start to try to replicate what she has done. I guess it comes down to personal trading style and risk tolerance and whether anyone would you be content with "filling up the milk bucket one squirt at a time". You going to give it a shot? Yes, a day in the office with her and her team would be quite insightful.....
  • #2,990
  • Feb 17, 2014 1:23am Feb 17, 2014 1:23am
Quoting Boy Wonder
{quote} I already do. She made 27% in 2013? I just ran the Portfolio Analyst in IB for the last 30 days and I made (according to Portfolio Analyst) 16.73%. I had a blip y'day/today though (fookin dollar gettin a spankin) so it's probably down to about 14%. But whether I can maintain that is another issue. You know how it is, ups and downs etc. Then again I just ran it for 12 months (02/01/13 to 01/31/14) and I see I made 34.46%. And that was including a shite period when I packed it in (again) before picking it up (again) a few months later. So...
Hey BW - They are some impressive numbers mate and you should be running some sort of hedge fund . You must have a reasonable tolerance to risk.

If you continue that performance then in time you won't need to trade anymore and can retire and sail around the Mediterranean on your super-yacht.
  • #2,991
  • Feb 17, 2014 2:40am Feb 17, 2014 2:40am
Quoting The Fool
On the ER radar for the coming weeks: 2/18: HLF 2/20: PCLN, NEM, HPQ, GRPN 2/24: FSLR, HD, 2/25: TOL 2/26: CHK, TGT, RIG, BIDU 2/27: BBY, CRM, MBT
Hey TF,

I like the line up you suggested....

HLF looks good. I'll look at the 105 or 110 strike
PCLN is a little to rich for my margin requirements
NEM looks ok. IV looks a little low though for the wide strikes
GRPB looks good and I'll look at the 19 or 20 strike
  • #2,992
  • Feb 17, 2014 2:59am Feb 17, 2014 2:59am
Quoting c3p0
{quote} Hi friends. I trade forex, but never heard of options. Can someone tell me the best starting point? thank you. I enjoy reading your posts although I don't have any context yet.
Hey c3p0 - The Fool has given you an excellent site to learn from. There is also another site (https://www.tastytrade.com/tt/). If you go to the section called "Where Do I Start", you'll see that one of the guys is teaching is daughter about options. Really basic stuff but fundamental. Good luck and welcome to the exciting world of options....
  • #2,993
  • Feb 17, 2014 3:13am Feb 17, 2014 3:13am
Quoting Boy Wonder
{quote} Been looking into this a bit more. It's kinda complex cos there is a fourth option of an LLP (= U.S. LLC) but I found some online calculators that allow you to plug in hypothetical profits. Using these, if you make £100k trading profits in one year: as a sole trader you pay £34,165.95 tax as a limited company you pay £29,326.95 tax (source for both calculations: http://www.companiesmadesimple.com/s...lProfit=100000) treating the profits purely as personal gains for CGT purposes you pay £20,803.00...
Hey BW - Thanks for looking into this further. Based on these number, it is clear the personal gain is the way to go. You're right as well about forming a LTD company and then having additional overhead with LTD company reporting, accountants, etc. I also agree that there isn't much that could be expensed with what we do. Although I do recall in some countries that setting up a business from home can entitle you to expense a proportion of the rent / or mortgage and some bills (electricity, etc) for the business. I think this is also possible in the UK but I am not 100% sure...
  • #2,994
  • Feb 17, 2014 3:15am Feb 17, 2014 3:15am
Quoting Boy Wonder
{quote} Let me just go find my time machine.
Hey BW - whilst you are there, can you also tell me the lotto numbers for the coming weeks :-)
  • #2,995
  • Feb 17, 2014 9:32am Feb 17, 2014 9:32am
Quoting njr
{quote} Hey TF - Having a similar account size to what Karen started with would be a great start to try to replicate what she has done. I guess it comes down to personal trading style and risk tolerance and whether anyone would you be content with "filling up the milk bucket one squirt at a time". You going to give it a shot? Yes, a day in the office with her and her team would be quite insightful.....
Well I should. I am sure what KTST is doing is not as easy as it may seem, but I get it. Hard to ignore that she puts on the number of trades she does because of the huge margin cushion her account size allows. But that's ok. I don't know if I really like the idea of putting on a couple hundred trades a week. I guess I'm just lazy.

My goal in trading is to set myself up in multiple accounts with as much tax-sheltered equity as I can swing so that I can live by trading by the time I am 60. I don't really want to "trade for a living", but I want to have that option.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,996
  • Feb 17, 2014 9:49am Feb 17, 2014 9:49am
Quoting Cecil Gee
{quote} Good one mate now If you can make one of those per week and you get good at it you will always stay ahead, trick is don't change your $ amount you use to trade, trade the same amount win or lose and you will be far ahead of the game
well that's good advice CG, thanks. And it's advice I have not heeded in the past. If I had, I might be ahead, as you suggest. My trade sizes are not really all over the map, but I do run them up on trades I am "feeling" good about. And of course those have been some of my biggest losers. And biggest winners. I do have "margin at risk" rules that I am good about keeping, though. I may talk myself into similar limits for individual trade size....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,997
  • Edited 8:24pm Feb 17, 2014 7:25pm | Edited 8:24pm
Quoting The Fool
On the ER radar for the coming weeks: 2/18: HLF 2/20: PCLN, NEM, HPQ, GRPN 2/24: FSLR, HD, 2/25: TOL 2/26: CHK, TGT, RIG, BIDU 2/27: BBY, CRM, MBT
Time to make the doughnuts, guess I should look these over again. Or maybe I should just pile up the puts on the S&P like my bro G. Soros....

http://blogs.marketwatch.com/thetell...f-1-3-billion/
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2,998
  • Feb 18, 2014 6:35am Feb 18, 2014 6:35am
Quoting njr
{quote} Hey The Fool - TSLA making new highs today and the 140 PUTs obviously dropping. I'm going to sit this one out and look for earnings closer to the 2/21 expiry date....Good luck if you enter this trade....

I definitely will not enter this trade. TSLA rising on high expectation of their earnings and talk of AAPL buying TSLA! Vol is high and this stock could explode either way!

http://seekingalpha.com/article/2027...dispatch&ifp=0
  • #2,999
  • Feb 18, 2014 6:39am Feb 18, 2014 6:39am
Quoting njr
{quote} I definitely will not enter this trade. TSLA rising on high expectation of their earnings and talk of AAPL buying TSLA! Vol is high and this stock could explode either way! http://seekingalpha.com/article/2027...dispatch&ifp=0
yes I think it will move but I'd bet selling puts would be ok. I haven't made up me mind on anything for the week. Need coffee.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,000
  • Feb 18, 2014 6:46am Feb 18, 2014 6:46am
Quoting The Fool
{quote} yes I think it will move but I'd bet selling puts would be ok. I haven't made up me mind on anything for the week. Need coffee.....
I was looking as far out as selling the 290 CALLs but my concern is that this stock could rocket if earnings exceed expectations. This coupled with AAPL buying them concerns me for this trade.

Based on your list you previously listed TF, I'm currently looking at HLF and GRBP....Will let you know what I trade on....
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