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Let's Trade Options

  • #3,001
  • Feb 18, 2014 6:51am Feb 18, 2014 6:51am
Quoting njr
{quote} 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....
GRPN. Looks ok but is too cheap. HPQ I will maybe strangle. Prolly won't do anything today. Contrarian play on indices after FOMC minutes might be good. Still need more coffee...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,002
  • Feb 18, 2014 7:10am Feb 18, 2014 7:10am
Quoting The Fool
{quote} GRPN. Looks ok but is too cheap. HPQ I will maybe strangle. Prolly won't do anything today. Contrarian play on indices after FOMC minutes might be good. Still need more coffee...
Pending order on HLF selling 115 CALL for 0.07
  • #3,003
  • Feb 18, 2014 8:25am Feb 18, 2014 8:25am
Quoting njr
{quote} Pending order on HLF selling 115 CALL for 0.07
This low Vol market s*cks - further vol contraction and I can't see this trade being executed before close!
  • #3,004
  • Feb 18, 2014 12:52pm Feb 18, 2014 12:52pm
Quoting njr
{quote} This low Vol market s*cks - further vol contraction and I can't see this trade being executed before close!
Vol contraction and trade not executed!
  • #3,005
  • Feb 18, 2014 1:08pm Feb 18, 2014 1:08pm
Quoting njr
{quote} Vol contraction and trade not executed!
No one wants to take the other side of your crappy Erbalife trade
I have no clue what I'm talking about.
  • #3,006
  • Feb 18, 2014 1:19pm Feb 18, 2014 1:19pm
Quoting Boy Wonder
{quote} No one wants to take the other side of your crappy Erbalife trade
Lol - at open today and for the 1st hour, the 115 CALL midprice was .07. I waited to long to jump on this one. Earnings imminent so it'll be interesting how they do.....Looking for the next opportunity now!
  • #3,007
  • Feb 18, 2014 1:30pm Feb 18, 2014 1:30pm
Quoting njr
{quote} Lol - at open today and for the 1st hour, the 115 CALL midprice was .07. I waited to long to jump on this one. Earnings imminent so it'll be interesting how they do.....Looking for the next opportunity now!
Currently up in after hours trading - around 4% higher but no where near the 115!

http://www.cnbc.com/id/101425109
  • #3,008
  • Feb 18, 2014 1:37pm Feb 18, 2014 1:37pm
Quoting njr
{quote} Currently up in after hours trading - around 4% higher but no where near the 115! http://www.cnbc.com/id/101425109
Yeah it always sucks when you coulda and shoulda made money. It's an interesting trade though; you need somebody to take the other side of a lottery ticket; you're the seller and therefore he's the buyer...unless he can find another punter who also wants to do the trade. But I'm not sure how that works from a market maker's perspective.
I have no clue what I'm talking about.
  • #3,009
  • Feb 18, 2014 4:01pm Feb 18, 2014 4:01pm
UVXY taken a nice dip AH and I may be a call buyer Wed morning if it doesn't spike up too quick. Could be a frothy day with FOMC minutes out, fear the tapir.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,010
  • Feb 19, 2014 4:32am Feb 19, 2014 4:32am
Quoting The Fool
UVXY taken a nice dip AH and I may be a call buyer Wed morning if it doesn't spike up too quick. Could be a frothy day with FOMC minutes out, fear the tapir.
We have nothing to fear but fear itself!
I have no clue what I'm talking about.
  • #3,011
  • Feb 19, 2014 4:34am Feb 19, 2014 4:34am
NG has gone mental. Damn, if I'd only just stuck on a long a SINGLE contract of the u/l, I'd have made $14k!
I wasn't bullish enough!
Expiry next week on the front month options. Hopefully it starts to settle a bit between now and then.
I have no clue what I'm talking about.
  • #3,012
  • Feb 19, 2014 8:26am Feb 19, 2014 8:26am
Quoting The Fool
UVXY taken a nice dip AH and I may be a call buyer Wed morning if it doesn't spike up too quick. Could be a frothy day with FOMC minutes out, fear the tapir.
I decided to take VXX for a long $43.50 call for Fridays expiration. VXX has held its ground at the current level of $42 despite the market edging higher so we may see the market falling back a little after the FOMC minutes especially if the mention FASTER TAPERING and taking VXX higher.

Long VXX $43.50 calls for 29c or $29 per contract

VXX Feb 2014 43.500 call (VXX140222C00043500)
-OPR
0.29 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.05(20.83%) 15:56

iPath S&P 500 VIX ST Futures ETN (VXX)
-NYSEArca
41.97 http://l.yimg.com/a/i/us/fi/03rd/up_g.gif 0.54(1.30%) 4:26PM GMT - Nasdaq Real Time Price
  • #3,013
  • Feb 19, 2014 9:01am Feb 19, 2014 9:01am
http://finance.yahoo.com/news/giant-...150752083.html
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,014
  • Feb 19, 2014 9:06am Feb 19, 2014 9:06am
[quote=Cecil Gee;7281754]I will be looking to take a trade on AAPL today for some short term explosive volatility moves over a ten day period. APPL closing price was $544 yesterday so I will be looking to to set a long strangle $15 or $20 out each way, this will make it $565 and $525 give or take, In taking this the option prices can not exceed $2.20 for each leg lower the better. From last nights close I have $565 call at $2,00 and the $525 at $2.10 making the total at $4.10 or $410 per long strangle position. Prices are below. Hope to get them a little cheaper if AAPL opens around the same price AAPL Feb 2014 565.000 call (AAPL140228C00565000) -OPR 2.00 {image} 0.73(57.48%) 13 Feb 20:59 AAPL Feb 2014 525.000 put (AAPL140228P00525000) -OPR 2.10 {image} 2.80(57.14%) 13 Feb 20:59 EDIT; forgot to mention its for FEB 28 EXPIRATION[/quote

T he above AAPL trade i mentioned last week as a possibility for me I have decided to take as the math on it is worth the risk for me, low IV with FOMC minutes and close strike price has tempted me.

I have taken a closer strike long strangle trade rather than the above mentioned so my position is as follows. All for FEB 28 expiration

Long APPL strangle $550 calls and long $530 puts current AAPL price is $540.72
calls I paid were $2.78 per option or $278
puts I paid were $2.88 per option or $288 with a combined cost of $566 per strangle

Apple Inc. (AAPL)
-NasdaqGS
540.72 http://l.yimg.com/os/mit/media/m/bas...nt-1093278.png 5.27(0.97%) 16:49 - Nasdaq Real Time Price
  • #3,015
  • Feb 19, 2014 9:09am Feb 19, 2014 9:09am
Quoting The Fool
http://finance.yahoo.com/news/giant-...150752083.html
yep all the way down to $40 where the breakout started from
  • #3,016
  • Feb 19, 2014 9:10am Feb 19, 2014 9:10am
Quoting The Fool
http://finance.yahoo.com/news/giant-...150752083.html
Interesting read TF. I suspect TSLA will rocket or tank given the huge market expectation on earnings. You going to place a trade on this? Too risky for my liking. I'm making the popcorn and watching the show from the sidelines.....
  • #3,017
  • Feb 19, 2014 9:18am Feb 19, 2014 9:18am
Quoting Cecil Gee
{quote} I decided to take VXX for a long $43.50 call for Fridays expiration. VXX has held its ground at the current level of $42 despite the market edging higher so we may see the market falling back a little after the FOMC minutes especially if the mention FASTER TAPERING
I like that long VIX trade on a post FOMC minutes slide as I mentioned above but I missed my entry long UVXY (or short SVXY) so I will let it go. VIX up near 6% on the day. Looks like you got your trade on right before a nice little spike up. I'd rather be short VIX as a general rule so if we get some elevation I will look to fade it in time...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,018
  • Feb 19, 2014 9:29am Feb 19, 2014 9:29am
Quoting njr
{quote} Interesting read TF. I suspect TSLA will rocket or tank given the huge market expectation on earnings. You going to place a trade on this? Too risky for my liking. I'm making the popcorn and watching the show from the sidelines.....
well I see some rats jumping ship pre-ER today, TSLA down ~5%. Maybe selling $250 calls would be a good play? But no, I won't be on it. I just had a 3-day weekend and I'm trying to get my head back in the game. If I took a month off I would have to start in again at babypips.com....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,019
  • Edited 9:47am Feb 19, 2014 9:31am | Edited 9:47am
Quoting Cecil Gee
{quote} yep all the way down to $40 where the breakout started from
yes I remember that well because it scorched me bum
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,020
  • Feb 19, 2014 12:14pm Feb 19, 2014 12:14pm
http://www.marketwatch.com/story/rat...als-2014-02-19

omg de tapirs!

“I expect the asset purchase program to be completely wound down by the fourth quarter of this year,” Lockhart said.

Williams said there was a high hurdle to changing the pace of tapering.

And in an interview with the Wall Street Journal, St. Louis Fed President James Bullard said any deviation in the pace of timing would send a “powerful signal” to markets.
"If The Fool persists in his Folly he will become wise." - William Blake
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