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Let's Trade Options

  • #6,861
  • Jan 26, 2015 8:01pm Jan 26, 2015 8:01pm
Those GDAXI OTM Call Options Mar15 have risen 2 to 3 times in last 3 trading days... I probably wouldn't buy at these levels...
  • #6,862
  • Jan 26, 2015 8:18pm Jan 26, 2015 8:18pm
Quoting PariCovek
Those GDAXI OTM Call Options Mar15 have risen 2 to 3 times in last 3 trading days... I probably wouldn't buy at these levels...
did you buy them 3-4 days ago?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,863
  • Jan 26, 2015 8:41pm Jan 26, 2015 8:41pm
Quoting The Fool
{quote} did you buy them 3-4 days ago?
Nope! I'm a newbie to full-time trading, so thought I'd just see how its goes...

I also had my eye on Gold OTM Call Options with a 1300 strike (Feb 15), they went up 1800% in the last 2.5 weeks.

Next one I spot, I'm definitely buying!
  • #6,864
  • Jan 26, 2015 8:43pm Jan 26, 2015 8:43pm
Quoting PariCovek
{quote} Nope! I'm a newbie to full-time trading, so thought I'd just see how its goes... I also had my eye on Gold OTM Call Options with a 1300 strike (Feb 15), they went up 1800% in the last 2.5 weeks. Next one I spot, I'm definitely buying!
what's the instrument on your gold trade?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,865
  • Jan 26, 2015 8:47pm Jan 26, 2015 8:47pm
still looking at SBUX reversal, doji says maybe, not gonna risk more than a good meal
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-01-26_sbux.png Size: 56 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,866
  • Jan 26, 2015 8:49pm Jan 26, 2015 8:49pm
Quoting The Fool
{quote} what's the instrument on your gold trade?
It was an OTM Call Option on Gold Futures with Feb 15 Expiry. They peaked last Friday, which was the ideal day to execute, Eg Last trading day before Greek Elections.

These options are now worth peanuts, as Gold price has been retreating since last Friday.

I wrote a couple of small summaries on Gold on FF, basically saying that it would be a good time to take short-positions on Gold after the Greek election.
  • #6,867
  • Jan 26, 2015 8:51pm Jan 26, 2015 8:51pm
http://www.forexfactory.com/showthre...15#post8016115
  • #6,868
  • Jan 26, 2015 8:53pm Jan 26, 2015 8:53pm
Quoting PariCovek
{quote} It was an OTM Call Option on Gold Futures with Feb 15 Expiry. They peaked last Friday, which was the ideal day to execute, Eg Last trading day before Greek Elections. These options are now worth peanuts, as Gold price has been retreating since last Friday. I wrote a couple of small summaries on Gold on FF, basically saying that it would be a good time to take short-positions on Gold after the Greek election.
so....../GC? Which futures contract?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,869
  • Jan 26, 2015 9:01pm Jan 26, 2015 9:01pm
Quoting The Fool
{quote} so....../GC? Which futures contract?



Gold Futures 1300 Call (Feb 15) - Expiry is 27 Jan 2015. See graph attached.

They were timed to perfection to expire just after Greek Elections!
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 43 KB
  • #6,870
  • Jan 26, 2015 9:18pm Jan 26, 2015 9:18pm
Quoting PariCovek
{quote} Gold Futures 1300 Call (Feb 15) - Expiry is 27 Jan 2015. See graph attached. They were timed to perfection to expire just after Greek Elections! {image}
I still can't tell what you're trading there, whatever though, good luck with it.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,871
  • Jan 26, 2015 9:25pm Jan 26, 2015 9:25pm
Quoting The Fool
{quote} I still can't tell what you're trading there, whatever though, good luck with it.
What the fuck is that, Private Covek? Is that a jelly donut?!?

Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,872
  • Jan 26, 2015 9:37pm Jan 26, 2015 9:37pm
Quoting The Fool
{quote} What the fuck is that, Private Covek? Is that a jelly donut?!? https://www.youtube.com/watch?v=5NP8y63Ms4o
I'll share the next jam donut sooner! Ha!
  • #6,873
  • Jan 26, 2015 10:07pm Jan 26, 2015 10:07pm
Quoting charron
I am newbie in Options. what do you think about buying QQQ Feb 27 Puts strike price @104? current price is about 1.75, I am expecting QQQ to drop to 102 in next 2-3 weeks. is it a good idea?
Hola, charron. When I started trading options I would do straight long calls or puts, pure directional bets. Nothing wrong with that, really, if you think something is gonna move, a straight long call or put offers the best payout when it turns out that you were right. But those trades offer no protection if you were wrong. So, mostly I trade spreads now. If I thought QQQ is gonna break $102 in the next 2-3 weeks, I might look for a put spread like this:

buy Feb 13 $102.50 put, sell 2/13 $102.00 put - for $0.12 debit, plus comms. This is called a vertical spread. The b/e is at about $102.80. Like your long put, I can only lose what I spend on the spread - $12/contract + comms. Unlike the long put, the reward is limited, though - about $45/contract. But since I have spread and brought down the net (per contract) cost of the trade, I can do more contracts, comparatively.

..there are other spread possibilities, this vertical just the 1st idea I looked at...
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-01-26_qqq.png Size: 60 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,874
  • Jan 27, 2015 7:02am Jan 27, 2015 7:02am
Quoting The Fool
{quote} Hola, charron. When I started trading options I would do straight long calls or puts, pure directional bets. Nothing wrong with that, really, if you think something is gonna move, a straight long call or put offers the best payout when it turns out that you were right. But those trades offer no protection if you were wrong. So, mostly I trade spreads now. If I thought QQQ is gonna break $102 in the next 2-3 weeks, I might look for a put spread like this: buy Feb 13 $102.50 put, sell 2/13 $102.00 put - for $0.12 debit, plus comms. This is...

Thanks a lot Fool, Appreciate your insight. It seems to be better idea as I could have bought more contracts for the same debit. Definitely, I will keep in mind in future
  • #6,875
  • Edited 7:40am Jan 27, 2015 7:16am | Edited 7:40am
I am trying to fill a AAPL Jan5/Feb1 call Diagonal...$116/$117...thought I was gonna get in for $0.06, then $0.07, ....now $0.11, mid keeps eluding me as AAPL comes up a bit...think I will leave it at $0.07
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,876
  • Jan 27, 2015 7:16am Jan 27, 2015 7:16am
Quoting charron
{quote} Thanks a lot Fool, Appreciate your insight. It seems to be better idea as I could have bought more contracts for the same debit. Definitely, I will keep in mind in future
de nada - bounce any trades you have in mind here...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,877
  • Jan 27, 2015 7:40am Jan 27, 2015 7:40am
Quoting The Fool
I am trying to fill a AAPL Jan5/Feb1 call Diagonal...$116/$117...thought I was gonna get in for $0.06, then $0.07, ....now $0.11, mid keeps eluding me as AAPL comes up a bit...think I will leave it at $0.07
made it $115/$116 for $0.07
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,878
  • Jan 27, 2015 7:42am Jan 27, 2015 7:42am
Quoting Cecil Gee
{quote} I'm going for it but as a call spread, I'm long $84 SLB call and wrote $84.50 call for a net 5c or $5 per contract. As this may happen quickly I've put in a GTC to take me out AT $84.45. Below is the current price Schlumberger Limited (SLB) -NYSE 83.65 {image} 1.65(2.01%) 15:44 - Nasdaq Real Time Price SLB Jan 2015 84.000 call (SLB150130C00084000) -OPR 0.54 {image} 0.04(8.00%) 15:13 SLB Jan 2015 84.500 call (SLB150130C00084500) -OPR 0.49 {image} 0.11(18.33%) 15:26...
Missed by 5c

Schlumberger Limited (SLB)
-NYSE
83.46 https://s.yimg.com/lq/i/us/fi/03rd/down_r.gif 0.22(0.26%) 3:39PM GMT - Nasdaq Real Time Price

Prev Close:83.68
Open:82.90
Bid:83.50 x 300
Ask:83.52 x 200
1y Target Est:92.48
Beta:1.34
Earnings Date:15 Apr - 20 Apr (Est.)
Day's Range:82.86 - 84.40
  • #6,879
  • Jan 27, 2015 7:52am Jan 27, 2015 7:52am
grats to TDT and any others who were long the eur/usd...I didn't quite see such a good bounce coming...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,880
  • Jan 27, 2015 7:53am Jan 27, 2015 7:53am
Nice down momentum... MSFT -10%...

Looking at SnP...

Attached Image (click to enlarge)
Click to Enlarge Name: SnP-break-or-bounce.PNG Size: 275 KB


Break or bounce?
CFD data is different than for /ES futures.... (CFD = futures +6/7 points)
Hope is dangerous in this game.
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