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  • #3,861
  • Jun 4, 2014 2:59pm Jun 4, 2014 2:59pm
Thought about a weekly SSO strangle for a big news breakout Thur/Fri, but I'm content to wait. Have been slogging through configuring new IB account with MultiCharts, will be ready to go soon. Does anybody have any market predictions for the ECB/NFP show? Maybe we can see some movement? I still have fingers crossed for a big gold drop....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,862
  • Jun 4, 2014 7:26pm Jun 4, 2014 7:26pm
Quoting The Fool
Thought about a weekly SSO strangle for a big news breakout Thur/Fri, but I'm content to wait. Have been slogging through configuring new IB account with MultiCharts, will be ready to go soon. Does anybody have any market predictions for the ECB/NFP show? Maybe we can see some movement? I still have fingers crossed for a big gold drop....
waiting for a decent set up until then I'm taking a short on EUR/USD FROM HERE 1.3603 with a s/l 1.3630 and TP around 1.3640ish, will close just before ECB tomorrow
  • #3,863
  • Jun 4, 2014 7:39pm Jun 4, 2014 7:39pm
Quoting Cecil Gee
{quote} waiting for a decent set up until then I'm taking a short on EUR/USD FROM HERE 1.3603 with a s/l 1.3630 and TP around 1.3640ish, will close just before ECB tomorrow
might be a typo in the above, not sure. Many are saying "buy the rumor..." for the euro and that its fall will not extend on ECB news, and some say we are in for a golden age of USD strength.

Idk, but the flatline markets are gonna break, I am sitting on dry powder, looking for a spark...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,864
  • Jun 5, 2014 9:01am Jun 5, 2014 9:01am
Ka-ching......thanks Mr Draghi. The sweet sound of OTM expiring ES mini calls
  • #3,865
  • Jun 5, 2014 1:00pm Jun 5, 2014 1:00pm
Quoting njr
Ka-ching......thanks Mr Draghi. The sweet sound of OTM expiring ES mini calls
I hope you got em way up there. I have a SSO $114/$115 credit spread (Jun/Jul) and the short leg is looking weak...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,866
  • Jun 5, 2014 1:49pm Jun 5, 2014 1:49pm
Quoting The Fool
{quote} I hope you got em way up there. I have a SSO $114/$115 credit spread (Jun/Jul) and the short leg is looking weak...
Hey TF - Yeah, they're ok at the moment. However, I'm using up more margin than I usually do but expiry is tomorrow. I am truly impressed with the momentum of the turn around shortly after Draghi press conference - Bulls back in action and apparently help out by comments from Mr Tepper...... NFPs tomorrow will be interesting. Good number and we probably jump nicely above 1950, bad number and it'll probably drop a little and then pick back up again in it's usual fashion :-)

I hope the SSO trade works out well! Best of luck with it
  • #3,867
  • Jun 5, 2014 2:00pm Jun 5, 2014 2:00pm
Quoting njr
{quote} Hey TF - Yeah, they're ok at the moment. However, I'm using up more margin than I usually do but expiry is tomorrow. I am truly impressed with the momentum of the turn around shortly after Draghi press conference - Bulls back in action and apparently help out by comments from Mr Tepper...... NFPs tomorrow will be interesting. Good number and we probably jump nicely above 1950, bad number and it'll probably drop a little and then pick back up again in it's usual fashion :-) I hope the SSO trade works out well! Best of luck with it ...
SSO spread will make money but maybe not as much as I has hoped. Did a IWM call spread, short Jun $120/long Jul $121 for $0.18 net debit. I won't be surprised if that overshoots the short leg either by 6/21 expiry, but I might squeak under.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,868
  • Jun 5, 2014 7:32pm Jun 5, 2014 7:32pm
Quoting The Fool
{quote} might be a typo in the above, not sure. Many are saying "buy the rumor..." for the euro and that its fall will not extend on ECB news, and some say we are in for a golden age of USD strength. Idk, but the flatline markets are gonna break, I am sitting on dry powder, looking for a spark...
was a typo, meant to say 1.3540. Learnt a great deal today trading currency with stocks. USD had a set back today, like to see how it responds. TSLA is on my radar for a single expiration tomorrow. If it opens around 207$ and the option is less than 40c then I will be long $210 calls
  • #3,869
  • Jun 5, 2014 11:57pm Jun 5, 2014 11:57pm
HALO could go back to $12-$13 as fast as it fell from there, was up 12% today on good news...

price break on the Jun calls: $10: $0.20/$0.25; $11: $0.05/$0.15; $12: $0.00/$0.20....

...if it's still there in the morning you can't possibly lose money selling Jun $12 buying Jun $11 for a nickel credit....
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 2014-06-05_halo2.png Size: 33 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,870
  • Jun 6, 2014 12:43pm Jun 6, 2014 12:43pm
Hello to all regulars in this thread. I have read every post from the very first one. You are doing a fine job here, especially The Fool, Cecil Gee, njr, BoyWonder... I like it very much.
I trade for 10 years, mostly stocks and ETFs, some forex, futures, but I'm not very experienced in options trading. So far I am a option buyer, daytrading with weeklies, and vertical spreads. Naked selling so far only on paper trading acc... Used to trade long straddles and strangles on earnings, but not so much now.

I like to trade options on QQQ, IWM, FB, AAPL... liquid stuff. IWM was great yesterday. I will try to give my contribution to this thread. Sometimes I have a great idea, but not very shure what option strategy should I use.
Hope is dangerous in this game.
  • #3,871
  • Jun 6, 2014 2:36pm Jun 6, 2014 2:36pm
Quoting Cecil Gee
{quote} was a typo, meant to say 1.3540. Learnt a great deal today trading currency with stocks. USD had a set back today, like to see how it responds. TSLA is on my radar for a single expiration tomorrow. If it opens around 207$ and the option is less than 40c then I will be long $210 calls
TSLA trade was a scratch as it opened at $1.37 per contract well above the price I wanted to pay of 40c or less
  • #3,872
  • Jun 6, 2014 2:48pm Jun 6, 2014 2:48pm
stocks are not echoing the rise on the indices, look at all the major players over the last few days they are struggling to mirror the move, out of sync plus the cash VIX went below 11 for the first time today, this has not happened since the great crash, as we get closer to 10.30ish investors, institutions will become increasingly concerned to keep there money in the market at such high levels with an economy funded by QE with sluggish growth, cheap jobs etc
  • #3,873
  • Jun 6, 2014 2:54pm Jun 6, 2014 2:54pm
Quoting Cecil Gee
{quote} TSLA trade was a scratch as it opened at $1.37 per contract well above the price I wanted to pay of 40c or less
yeah I figured you would skip it after the jump up on the open. I have nothing new, haven't had much screen time today, will wait til next week to adjust spreads. I have SSO, IWM, TLT, TBT, GLD spreads all over Jun/July some out to September.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,874
  • Jun 6, 2014 3:01pm Jun 6, 2014 3:01pm
Quoting The Fool
{quote} yeah I figured you would skip it after the jump up on the open. I have nothing new, haven't had much screen time today, will wait til next week to adjust spreads. I have SSO, IWM, TLT, TBT, GLD spreads all over Jun/July some out to September.
Good luck with them, I'm considering selling Haliburton up where it is at $66.93, probably watch it as its too late to put a order in
  • #3,875
  • Jun 6, 2014 3:07pm Jun 6, 2014 3:07pm
Quoting Cecil Gee
{quote} Good luck with them, I'm considering selling Haliburton up where it is at $66.93, probably watch it as its too late to put a order in
Bid markets just waiting for some whiff of fear, none to be seen. Call buyers may do well. Until they're wrong. For next week I wanna see how the 30yr Tbond auction does. Have a good weekend, CG.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,876
  • Jun 6, 2014 3:12pm Jun 6, 2014 3:12pm
Quoting StrayDog
Hello to all regulars in this thread. I have read every post from the very first one. You are doing a fine job here, especially The Fool, Cecil Gee, njr, BoyWonder... I like it very much. I trade for 10 years, mostly stocks and ETFs, some forex, futures, but I'm not very experienced in options trading. So far I am a option buyer, daytrading with weeklies, and vertical spreads. Naked selling so far only on paper trading acc... Used to trade long straddles and strangles on earnings, but not so much now. I like to trade options on QQQ, IWM, FB, AAPL......
Hello StrayDog and welcome. Yup I am in an IWM debit spread (described above) from yesterday: I want it to go up...just not too fast. We'll see. Put up some trade ideas when ever you like. I have not done too much naked selling either, but I am going to change that. Some of the accounts I trade from are IRA's and I can't sell naked calls there, and only cash-secured short naked puts. But I have a larger straight brokerage account that I am going to be trading naked calls/puts more starting soon. I think that's a great way to trade options but it requires sufficient capitalization....sigh....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,877
  • Jun 6, 2014 3:39pm Jun 6, 2014 3:39pm
Quoting Cecil Gee
stocks are not echoing the rise on the indices, look at all the major players over the last few days they are struggling to mirror the move, out of sync plus the cash VIX went below 11 for the first time today, this has not happened since the great crash, as we get closer to 10.30ish investors, institutions will become increasingly concerned to keep there money in the market at such high levels with an economy funded by QE with sluggish growth, cheap jobs etc
VIX closed 10,73, danger terriory
  • #3,878
  • Jun 6, 2014 4:10pm Jun 6, 2014 4:10pm
Quoting Cecil Gee
{quote} VIX closed 10,73, danger terriory
VIX could sit down at 10 or below for months or even years, I think we'll see S&P 2,200 this year. Only sneaking caveat is the US mid-term elections...I have posted chart somewhere far above....historically US markets dip in the summer months preceding the mid-terms. And the continuing taper...although the ECB looks to take up the slack there....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3,879
  • Jun 6, 2014 4:44pm Jun 6, 2014 4:44pm
Quoting The Fool
{quote} VIX could sit down at 10 or below for months or even years, I think we'll see S&P 2,200 this year.
I'll have some of whatever you're smoking TF
I have no clue what I'm talking about.
  • #3,880
  • Jun 6, 2014 5:42pm Jun 6, 2014 5:42pm
Quoting Boy Wonder
{quote} I'll have some of whatever you're smoking TF
One expects more restraint from a proper Englishman. (Sep SSO $130 calls are only $0.40....SSO up near $10 in last 2 weeks alone...)
"If The Fool persists in his Folly he will become wise." - William Blake
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