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Let's Trade Options

  • #4,421
  • Aug 13, 2014 9:42am Aug 13, 2014 9:42am
Quoting StrayDog
{quote} Strangle cost for KING was $1.60, put side was $0.85 and call side $0.75. I just closed the put side for $4.20 So, KING.... {image}
Nice trade
  • #4,422
  • Aug 13, 2014 9:50am Aug 13, 2014 9:50am
Quoting StrayDog
{quote} I am with you on this one, CG. Got filled @ $0.30... I just bought 2 of those flies, for my first trade. I think better learning process from expirience is when you trade small on live acc, rather then just buy 1,000 of them on paper trading acc. Got filled for $0.30 debit as follows: 90.5 put for $0.11 debit 92.5 puts for $ 0.26 credit 94.5 put for $0.71 debit
not looking good for QQQ, IT has close beneath 95.40 sometime by the weekend or we can kiss this trade goodbye
  • #4,423
  • Aug 13, 2014 9:56am Aug 13, 2014 9:56am
considering taking VXX long from here 30.60

iPath S&P 500 VIX ST Futures ETN (VXX)
-NYSEArca
30.60 https://s.yimg.com/lq/i/us/fi/03rd/down_r.gif 1.05(3.32%) 15:55 - Nasdaq Real Time Price
  • #4,424
  • Aug 13, 2014 11:57am Aug 13, 2014 11:57am
Quoting Cecil Gee
considering taking VXX long from here 30.60 iPath S&P 500 VIX ST Futures ETN (VXX) -NYSEArca 30.60 {image} 1.05(3.32%) 15:55 - Nasdaq Real Time Price
you may get another chance to look for a bounce off $28.xx

I am looking for a nice entry to sell some SPY or SSO call spreads....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #4,425
  • Aug 13, 2014 12:02pm Aug 13, 2014 12:02pm
Quoting StrayDog
{quote} Strangle cost for KING was $1.60, put side was $0.85 and call side $0.75. I just closed the put side for $4.20 So, KING.... {image}
congrats StrayDog, hope we can see that much green off a big CSCO pop
"If The Fool persists in his Folly he will become wise." - William Blake
  • #4,426
  • Aug 13, 2014 12:16pm Aug 13, 2014 12:16pm
Quoting Cecil Gee
{quote} not looking good for QQQ, IT has close beneath 95.40 sometime by the weekend or we can kiss this trade goodbye
No problemo my friend. Holding.

Quoting The Fool
{quote} congrats StrayDog, hope we can see that much green off a big CSCO pop
Thank you TF and njr. I was just watching the Liz&Jenny live on dough TV... They were considering Jade Lizzard (love the name) option strategy for AAPL.
Looking at my short AAPL strangle, it has lost 15% of value in just 3 days... nice.
Hope is dangerous in this game.
  • #4,427
  • Aug 13, 2014 12:18pm Aug 13, 2014 12:18pm
This Jade Lizzard and its reverse is cool stuff. Here is that example on AAPL

Attached Image (click to enlarge)
Click to Enlarge Name: AAPL Jade Lizzard.png Size: 91 KB
Hope is dangerous in this game.
  • #4,428
  • Edited 1:26pm Aug 13, 2014 1:06pm | Edited 1:26pm
http://www.bloomberg.com/video/track...tml?cmpid=yhoo

I agree with Agarwal: unless we see resurgence of the geopoli redflags, we will see volatility pull back and markets move up. Next week's (8/20) FOMC minutes could be a blip to watch out for, but Jackson Hole will likely be bullish reinforcement. The next FOMC meeting is a month out - 9/17...

not sure about his FXI spread, though...he wants to buy Jan $44/sell Jan $48 calls for $0.72 debit & says this offers a 3.5 to 1 risk:reward
"If The Fool persists in his Folly he will become wise." - William Blake
  • #4,429
  • Aug 13, 2014 2:18pm Aug 13, 2014 2:18pm
CSCO earnings day sometmes see 250MM shares traded! OMG!
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-08-13_csconews.png Size: 24 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #4,430
  • Aug 13, 2014 2:31pm Aug 13, 2014 2:31pm
Quoting The Fool
CSCO earnings day sometmes see 250MM shares traded! OMG! {image}

I will just watch another episode of Criminal Minds... and CNBC site will be open in background to see real-time quotes

I was interested in some play for WMT ER's which will be tomorrow BMO, EM is only about $1.2, but cant make a good Iron Condor cos some strikes are not available... and I will not short strangle or anything with so called "unlimited" risk as an ER's play. Skiped that.
Hope is dangerous in this game.
  • #4,431
  • Aug 13, 2014 2:41pm Aug 13, 2014 2:41pm
just looked at russell and s/p if we get rejections from current levels , russell 1140 and s/p 1945/48 then down I'm thinking she goes, the dow and ndx are not agreeing yet so its making me nervous
  • #4,432
  • Aug 13, 2014 3:25pm Aug 13, 2014 3:25pm
Quoting The Fool
CSCO earnings day sometmes see 250MM shares traded! OMG! {image}
Volume still kinda light, waiting for the conf call, just 5 minutes, if they lay off a bunch of people, share price will push $27.00....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #4,433
  • Aug 13, 2014 3:45pm Aug 13, 2014 3:45pm
Quoting The Fool
{quote} Volume still kinda light, waiting for the conf call, just 5 minutes, if they lay off a bunch of people, share price will push $27.00....
no, I mean it will push $23, yeah
"If The Fool persists in his Folly he will become wise." - William Blake
  • #4,434
  • Aug 13, 2014 4:02pm Aug 13, 2014 4:02pm
Quoting The Fool
{quote} no, I mean it will push $23, yeah
$24.50 and $26.00 options holders got taken care of AH...
Attached Image
"If The Fool persists in his Folly he will become wise." - William Blake
  • #4,435
  • Edited 4:20pm Aug 13, 2014 4:06pm | Edited 4:20pm
volume still light, here's what they all waiting for....
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-08-13_csco_002.png Size: 17 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #4,436
  • Aug 13, 2014 4:21pm Aug 13, 2014 4:21pm
strangle on CSCO ER a shit sandwich. I'm having a decent month except for CSCO trades....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #4,437
  • Edited 8:39pm Aug 13, 2014 8:28pm | Edited 8:39pm
Well, I am looking for another boost up in the US indices Thursday, followed perhaps by a down day Friday. I still think we have a good chance of approaching the S&P highs from June-July. The VIX bull put credit spread from the TT folks mentioned a day or so ago is going to start looking good, as it is now I see perhaps:

Sep 20 UVXY sell $22.00 calls/buy $20.00 calls, $0.50 net credit. Not bad for a $2 spread. UVXY has not dipped below $24 for more than a few hours in the last year. This trade might get a little better tomorrow.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-08-13_uvxy.png Size: 39 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #4,438
  • Aug 13, 2014 8:37pm Aug 13, 2014 8:37pm
Quoting The Fool
I still think we have a good chance of approaching the S&P highs from June-July.
Actually, and for the record, I am quite sure SnP will take out 2k this Late Summer-Fall, UNLESS some geopoli shtf. So I am trying to be careful with SPY and SSO call spreads and VIX derivatives also.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #4,439
  • Aug 14, 2014 12:24am Aug 14, 2014 12:24am
Quoting StrayDog
{quote} I will just watch another episode of Criminal Minds...
I've never been a huge cop show fan, never really liked Criminal Minds. But I've seen every episode of Criminal Intent, liked Detective Goren. Liked CSI Miami, too....


Saw this good idea on Gavin McMaster's blog.

http://www.optionstradingiq.com/usin...downside-risk/

Buying insurance on credit spread with barrier debit spreads. Won't work on my UVXY $20/$22 bull put spread above, chain spreads too loose.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #4,440
  • Edited 2:12am Aug 14, 2014 12:59am | Edited 2:12am
Quoting The Fool
{quote} Buying insurance on credit spread with barrier debit spreads.
Maybe....(SPY)....9/26 $198.50 calls @ 45 delta, 9/20 $199.00 call @ 43 delta
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2014-08-13_spya.png Size: 43 KB
Click to Enlarge Name: 2014-08-13-spyb.png Size: 43 KB
"If The Fool persists in his Folly he will become wise." - William Blake
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