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Let's Trade Options

  • #6,801
  • Jan 23, 2015 11:47am Jan 23, 2015 11:47am
Quoting StrayDog
{quote} There are DAX futures options (on IB platform), but beware, their working time is 9-17 CET.
What's the symbol????
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,802
  • Jan 23, 2015 12:06pm Jan 23, 2015 12:06pm
Quoting The Fool
{quote} What's the symbol????
Just type DAX and choose options from the menu

Attached Image


These are European style options, multiplier is 5, nominated in EUR
Hope is dangerous in this game.
  • #6,803
  • Edited Jan 24, 2015 2:10am Jan 23, 2015 12:15pm | Edited Jan 24, 2015 2:10am
Quoting StrayDog
{quote} Just type DAX and choose options from the menu {image} These are European style options, multiplier is 5, nominated in EUR
Thanks, SDog, I can't get on IB now, will check it later. I've got my hands full trading the American products, anyway. You guys if you want to talk about trading options do us a favor and list enough info for somebody to follow along with your trade. Also, just so you know, if you're not actually trading options, I don't necessarily mind you posting here, but this is supposed to be an "Interactive Trading" thread - a place for traders to talk about their trades.

Like this: I sold a UNG diag into a little strength this morning - a Feb/Feb4 $13.5/$13.00 bear put spread for $0.04 credit. I have a ridiculous number of UNG spreads, I think eventually some will make money.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,804
  • Edited 10:26pm Jan 23, 2015 2:57pm | Edited 10:26pm
FXE bear put verticals have been good to me, trying to fill another @ Jan5/Feb1 $109/$108.5 for $0.14 debit, just in case the Greeks blow up the euro over the weekend....

,,,didn't get in
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,805
  • Edited 11:11pm Jan 23, 2015 10:59pm | Edited 11:11pm
"Learning from One's Mistakes, Part 10,548"

I did this RSX bull call vertical a month or more ago for a $0.20 debit, thinking RSX would catch a bounce. RSX never bounced. So, with 28 dte and not much hope RSX will move up, what can I do? Well, I could roll down the short call from $20 to $18 and maybe get a $0.20 credit, but that wouldn't b/e the trade, because I have to buy out of the $20 for $0.05, so, going to $18 short calls gets me to $0.15 credit, or a $0.05 net loss on the trade if that holds. But with my luck, RSX would pop in Feb and I'd have to adjust again, lose even more.

If you look at the options that just expired you can see they're all at $0.05 ask/$0.00 bid. In other words, you can't roll out of any trade for less than $0.05, ever. In more other words, options on RSX suck & I won't be trading them again unless there's a very special Russian imperative to do so. Lesson No. 10,548: Don't Trade Sucky Options.
Attached Image (click to enlarge)
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,806
  • Jan 24, 2015 1:39am Jan 24, 2015 1:39am
Somebody sold this diag Mar/Jan '16 $19.5/$20 call spread for ~ $1.10 - thousands of em - a bet USO stays <$19.5 by Mar expiry, get there and spread against the Jan '16 calls on out thru the year. Nice to have buttloads of free margin...
Attached Image (click to enlarge)
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,807
  • Jan 24, 2015 9:11am Jan 24, 2015 9:11am
start looking at SLB, strikes every $1 and a movement of nearly $3 per day, lottery scalping dream
  • #6,808
  • Jan 24, 2015 9:49am Jan 24, 2015 9:49am
Quoting Cecil Gee
start looking at SLB, strikes every $1 and a movement of nearly $3 per day, lottery scalping dream
correction meant to say weekly plus $3 with IV below 50% making this currently a great stock for option scalpers
  • #6,809
  • Jan 24, 2015 11:31am Jan 24, 2015 11:31am
I bought this UUP Mar/Jun $26 calendar a few weeks back for $0.06 and it has gotten up to about a 300% gain. If I am patient and if UUP moves to the $26 strike, I could easily get double that in a few more weeks. I like playing these wide (this is 3-month) calendars when they can be got very cheap. Max P on this is $0.78, and if UUP is between $25.50 and $26.50 at expiry, P will be > $0.50, about double what it is now. UUP, though, is on the edge of tradeability, thin options volume, and I would have been better off trading /6E or FXE, as UUP u/l is a basket of USD exchange rates (it has been held back somewhat by JPY strength).
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,810
  • Jan 24, 2015 11:40am Jan 24, 2015 11:40am
Quoting Cecil Gee
start looking at SLB, strikes every $1 and a movement of nearly $3 per day, lottery scalping dream
SLB, yes CG, I see lots of big candles at the open....looks like SLB might want to drop back into the $70's, we will see what crude wants to do...how are you scalping it?
Attached Image (click to enlarge)
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,811
  • Jan 24, 2015 11:55am Jan 24, 2015 11:55am
Here's a SLB weekly vertical bear put spread - risk $0.02 to make max $0.48, b/e at $79.40....will see if it's there on Monday, but something similar will be, getting filled on something like this for $0.02 might be a dream, but surely fill @ < $0.05. Defined risk, no margin hit, huge upside, what's not to love? SLB lt $82.00...
Attached Image (click to enlarge)
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,812
  • Jan 24, 2015 12:28pm Jan 24, 2015 12:28pm
Thanks for putting this bug in my ear, Cecil - I wonder if this weekly otm debit spread idea can be found anywhere the ATR is high? I will try to screen for high ATR...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,813
  • Jan 24, 2015 12:54pm Jan 24, 2015 12:54pm
Quoting The Fool
Thanks for putting this bug in my ear, Cecil - I wonder if this weekly otm debit spread idea can be found anywhere the ATR is high? I will try to screen for high ATR...
So when you screen for ATR, you will pick up stocks that have just been thru high vol events (ER's, typically) - you can stretch out the number of daily bars to smooth the high-vol influences, though. OTOH, looking at stocks that have just been thru large 1-directional moves is one way to find cheap weekly vertical spread opps. I know, I saw the TT study where they showed that usually, stocks will not revert after large ER moves. However, sometimes they do, and you might not need to get much of a reversion to make some money. AXP, for instance, dropped from $88 to $84 last week - a move to $86 would make money on the $86.5/$86 bull call vertical, which risks $0.05. There are better examples, though, I will look thru the high ATR names.
Attached Image(s) (click to enlarge)
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,814
  • Edited 2:16pm Jan 24, 2015 2:00pm | Edited 2:16pm
Quoting The Fool
Thanks for putting this bug in my ear, Cecil - I wonder if this weekly otm debit spread idea can be found anywhere the ATR is high? I will try to screen for high ATR...
see GS, GPRO, FDX, TSO, SNDK, BABA, CVX, all w/ ATR(28) > $2.50....
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-01-24_SNDK.png Size: 57 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,815
  • Jan 24, 2015 2:11pm Jan 24, 2015 2:11pm
Lol Baba. Mate holds some . Edit: he bought @ 87. I hope he caught the top or they wake up - but think he still holds, was a mid term.

Anyway, thought you might like this post. I wont manage it on time, but think monday could be quite easy to call bank stocks movement within Europe.
Quoting goldfinch
Some banks will get hit, that is one short I will be trading, just look at who owns their debt and you will get a good runner going on Monday if the election looks to go the exit way.
T
"I know one thing, that I know nothing." Sokrates
  • #6,816
  • Jan 24, 2015 2:14pm Jan 24, 2015 2:14pm
Quoting Tom_D_Trader
Lol Baba. Mate holds some . Edit: he bought @ 87. I hope he caught the top or they wake up. Anyway, thought you might like this post. I wont manage it on time, but think monday could be quite easy to call bank stocks movement within Europe. {quote} T
Thanks, T - so which banks are overloaded with Greek debt?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,817
  • Jan 24, 2015 2:17pm Jan 24, 2015 2:17pm
Quoting The Fool
{quote} Thanks, T - so which banks are overloaded with Greek debt?
Well I dont know mate, I dont trade Europe now, coz am a)tight investor b)have exams, so no time. But think it wont be so hard to find out, actually its my job ... so am gonna give it an hour of searching and then post you .

Edit: So, first little hint comes from one of my favourite sources. Its just coz I like pictures:
http://demonocracy.info/infographics...ebt_greek.html
"I know one thing, that I know nothing." Sokrates
  • #6,818
  • Jan 24, 2015 2:29pm Jan 24, 2015 2:29pm
lol, Good graphic - short the EU, got it. I don't know what to expect, but my gut is that the market is in the mood for some time at the feeding trough. Pity if Greece spoils the meal...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,819
  • Jan 24, 2015 2:40pm Jan 24, 2015 2:40pm
Quoting The Fool
lol, Good graphic - short the EU, got it. I don't know what to expect, but my gut is that the market is in the mood for some time at the feeding trough. Pity if Greece spoils the meal...
Yes, thats why I stay out. I have facked up my UJ trade anyway...Though there is massive flow in USD, UJ is stuck, which I very dont like.

Regarding that feeding, I was kinda trying to warn guys at EU thread it is coming. See, ECB action is unprecedented in Europe. Take a look at this nice picture below, courtesy of FT, hope they wont sue my ass. See you guys in US are very rushy, it is like: "Cmon Europeans, what are you doing, print teh money, buy teh bonds, cmon.." But we here are very slow, it takes a lot of time for a policy to fit to every state. It is such a big move in Europe, am very sure it attracts foreign investors. And if they want to invest within Eurozone, they first need to buy some Euros. If smart, the´r gonna wait after Greece dust settles and then it is gonna be bomb.
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"I know one thing, that I know nothing." Sokrates
  • #6,820
  • Jan 24, 2015 2:42pm Jan 24, 2015 2:42pm
Do any of you chartists know of a chart study that expresses ATR as a percentage of the underlying price? GDX, for instance, has ATR near $1, pretty high for a $21 etf...
Attached Image (click to enlarge)
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"If The Fool persists in his Folly he will become wise." - William Blake
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