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Let's Trade Options

  • #5,401
  • Oct 15, 2014 12:24pm Oct 15, 2014 12:24pm
I hear you TF... made all the same mistakes...

VIX just got over 30...

Going long UVXY or VXX weekly calls today would probably be trade of the year.
Hm, just looked at it, didn't go as much as I expected, gotta drink better coffee.
Hope is dangerous in this game.
  • #5,402
  • Oct 15, 2014 12:39pm Oct 15, 2014 12:39pm
Been doing more Nov SPY bull put spreads - lower, $168/$164 paid $0.52...

did I say bull?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #5,403
  • Oct 15, 2014 12:50pm Oct 15, 2014 12:50pm
Quoting The Fool
{quote} get it, dog. I hope you have thought about putting a ski hill on the yacht. wouldn't want you to get rusty.
  • #5,404
  • Edited 3:28pm Oct 15, 2014 1:01pm | Edited 3:28pm
I took a little punt on UVXY - with shares at $53.xx I bought Nov $25 puts. Holding off to see if the smoke clears a bit this week and I will look to sell weekly or Nov puts for credit or reduction of the $1.33 debit....^VIX looking pretty spikey, doesn't mean it won't keep spiking though. I am betting it will revert....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #5,405
  • Oct 15, 2014 1:03pm Oct 15, 2014 1:03pm
Buy when blood is on the streets...

I just send this monthly chart to one guy I know to scare him... Yep, going straight down to 1530... this monthly candle looking ugly so far.

Attached Image (click to enlarge)
Click to Enlarge Name: 1530.png Size: 61 KB


Will bulls "defend" 1800 or not... previous supports didn't hold for much time.
Hope is dangerous in this game.
  • #5,406
  • Oct 15, 2014 1:04pm Oct 15, 2014 1:04pm
Quoting The Fool
I took a little punt on UVXY - with shares at $53.xx I bought Nov $25 puts. Holding off to see if the smoke clears a bit this week and I will look to sell weekly or 10/22 puts for credit or reduction of the $1.33 debit....^VIX looking pretty spikey, doesn't mean it won't keep spiking though. I am betting it will revert....
The meanest reverting thing of the bunch...
Hope is dangerous in this game.
  • #5,407
  • Oct 15, 2014 1:13pm Oct 15, 2014 1:13pm
Quoting StrayDog
Will bulls "defend" 1800 or not... previous supports didn't hold for much time.
A 10% correction was on the menu...but when bears start chowing down sometimes it's hard to make them stop
"If The Fool persists in his Folly he will become wise." - William Blake
  • #5,408
  • Oct 15, 2014 1:14pm Oct 15, 2014 1:14pm
Quoting StrayDog
{quote} The meanest reverting thing of the bunch...
today's VIX spike to 31 puts it in rare company - only a few higher in the last 10+ years....
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-10-15_vix.png Size: 47 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #5,409
  • Oct 15, 2014 1:47pm Oct 15, 2014 1:47pm
Another good video from our favorite guys...

Iron Condors | Analysis and Variations

We know that by trading naked options, we are able to increase our probability of profit by bringing in a larger amount of credit and extending our breakeven points. However, sometimes trading with unlimited risk is not possible due to account limitations. In order to get around this, we can buy out of the money options to define our risk and increase our return on capital. However when defining our risk, how do we know where to place our strikes? Today, Tom Sosnoff and Tony Battista take a look at 4 different Iron Condors and how they relate to their unlimited risk counterpart, a strangle. The guys look at an Iron Condor that collects 1/3 the width of the strikes, a Chicken Iron Condor (collecting 45%-50% of the width of the strikes), an unbalanced Iron Condor where the call spread is wider than that put spread, and a Big Boy Iron Condor where the long strikes are further away to mimic the strangle. Tom and Tony then look at managing these trades and seeing where they can create the highest profit per day. After they have established these levels, they compare them all and see how they stack up to the 1 standard deviation strangle!
Hope is dangerous in this game.
  • #5,410
  • Oct 15, 2014 1:56pm Oct 15, 2014 1:56pm
Ah Janet, Janet...

In A Private Meeting, Janet Yellen Reportedly Told People She Still Feels Good About Growth

So, she feels good...
Hope is dangerous in this game.
  • #5,411
  • Oct 15, 2014 1:59pm Oct 15, 2014 1:59pm
Quoting StrayDog
Ah Janet, Janet... In A Private Meeting, Janet Yellen Reportedly Told People She Still Feels Good About Growth So, she feels good...
That's her buy signal
  • #5,412
  • Oct 15, 2014 2:00pm Oct 15, 2014 2:00pm
Quoting StrayDog
{quote} The meanest reverting thing of the bunch...
yes, but absolutely atrocious spreads and insane in se i.v. flux
"If The Fool persists in his Folly he will become wise." - William Blake
  • #5,413
  • Oct 15, 2014 2:01pm Oct 15, 2014 2:01pm
Quoting njr
{quote} That's her buy signal
wait I thought she had to synchronize with Christine Lagarde - liking launching an ICBM....?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #5,414
  • Oct 15, 2014 2:06pm Oct 15, 2014 2:06pm
Yep, I am just gonna buy one short Iron Condor.... on paper, on NFLX, like 395/400 + 470/475... for $1.70 or so credit.
I just hate paper trading.

Looking at another tastytrade video... I am having trouble understanding making winner out of a loser with rolling, I think this one from yesterday about PBR is the same, will look at it now. After that I will look again and again and again at some where they had a horrible loser on CMG and after 3 months of rolling it came out a winner... pfff... I don't have nerves for that, it could easily go into a even bigger loser...
Hope is dangerous in this game.
  • #5,415
  • Oct 15, 2014 2:14pm Oct 15, 2014 2:14pm
When Chuck Norris buys options, they don’t expire. Ever.



So, never sell options to Chuck.


Chuck turned down a seat on the CBOE. First, he doesn’t sit – he stands. Second, he doesn’t ‘exchange’. He takes.

Hope is dangerous in this game.
  • #5,416
  • Oct 15, 2014 2:19pm Oct 15, 2014 2:19pm
Quoting StrayDog
I am having trouble understanding making winner out of a loser with rolling, I think this one from yesterday about PBR is the same, will look at it now. After that I will look again and again and again at some where they had a horrible loser on CMG and after 3 months of rolling it came out a winner... pfff... I don't have nerves for that, it could easily go into a even bigger loser...
there's no guarantee that rolling will turn a loser into a winner. in fact, if done poorly and/or if you're just unlucky, rolling might increase your losses after it's all over, not to mention draw out your time spent in a losing trade...and I know this through bitter experience.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #5,417
  • Oct 15, 2014 2:19pm Oct 15, 2014 2:19pm
http://www.cnbc.com/id/102090335?__s...&doc=102090335#.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #5,418
  • Oct 15, 2014 2:22pm Oct 15, 2014 2:22pm
omg....Mr. Fusion is almost here!

http://finance.yahoo.com/news/lockhe...--finance.html
"If The Fool persists in his Folly he will become wise." - William Blake
  • #5,419
  • Oct 15, 2014 2:26pm Oct 15, 2014 2:26pm
Quoting The Fool
omg....Mr. Fusion is almost here! http://finance.yahoo.com/news/lockhe...--finance.html
This is my car....with Mr Fusion

Inserted Video
  • #5,420
  • Oct 15, 2014 2:29pm Oct 15, 2014 2:29pm
Nice short article

No, QE’s End is Not the Reason for the Market Bloodbath

The one thing that would make this correction a full-blow bear market would be for the U.S. to enter recession, and Rosenberg doesn’t see that happening. In fact, he doesn’t even see that happening globally. “Corrections come and go,” he says. “They take out the froth and build the next up leg in market.”
Hope is dangerous in this game.
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