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Let's Trade Options

  • #6,881
  • Jan 27, 2015 9:55am Jan 27, 2015 9:55am
Quoting charron
{quote} Bought QQQ puts Feb 27 Strike Price 103.50 for $1.88 instead, lets hope it works out
Wow!!. QQQ dropped faster than I thought. My first ever Option trade is in green now. I'll wait untill 3:00 to see how it plays out
  • #6,882
  • Jan 27, 2015 10:09am Jan 27, 2015 10:09am
Quoting charron
{quote} Wow!!. QQQ dropped faster than I thought. My first ever Option trade is in green now. I'll wait untill 3:00 to see how it plays out
Good job! MSFT is dragging NQ down.
Hope is dangerous in this game.
  • #6,883
  • Jan 27, 2015 10:55am Jan 27, 2015 10:55am
Anyone looking at AT & T Call spreads? any ideas?
  • #6,884
  • Jan 27, 2015 11:01am Jan 27, 2015 11:01am
Quoting Cecil Gee
{quote}c Missed by 5 Schlumberger Limited (SLB) -NYSE 83.46 {image} 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
SLB has bounced back up, only a few more cents

Schlumberger Limited (SLB)
-NYSE
84.38 https://s.yimg.com/lq/i/us/fi/03rd/up_g.gif 0.70(0.84%) 4:58PM GMT - Nasdaq Real Time Price
  • #6,885
  • Jan 27, 2015 1:13pm Jan 27, 2015 1:13pm
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
Finally got what I wanted = just over 8x on spread

Schlumberger Limited (SLB)
-NYSE
84.46 https://s.yimg.com/lq/i/us/fi/03rd/up_g.gif 0.78(0.94%) 7:10PM GMT - Nasdaq Real Time Price
  • #6,886
  • Jan 27, 2015 1:15pm Jan 27, 2015 1:15pm
Quoting Cecil Gee
{quote} Finally got what I wanted = just over 8x on spread Schlumberger Limited (SLB) -NYSE 84.46 {image} 0.78(0.94%) 7:10PM GMT - Nasdaq Real Time Price
Excellent, CG.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,887
  • Jan 27, 2015 1:24pm Jan 27, 2015 1:24pm
Thinking of GE mar20 Call spread, buy strike 24 @.68 and sell strike 25 @.23, for total debit of 0.45
Let me know what you guys think
  • #6,888
  • Jan 27, 2015 1:31pm Jan 27, 2015 1:31pm
Quoting Cecil Gee
{quote} Finally got what I wanted = just over 8x on spread ...
Hope is dangerous in this game.
  • #6,889
  • Jan 27, 2015 1:42pm Jan 27, 2015 1:42pm
Taken another trade in anticipation of the FOMC on TLT. Will the Fed steam roll ahead with its planned rate hike later this year or push it further back, i don't know but looking at TLT its had quite a run up and I found a long put spread that gives me a low entry level as I'm looking for a pullback from these current highs

long $133 put and wrote 132.50 put for net 5c or $5 per contract as below

iShares 20+ Year Treasury Bond (TLT)
-NYSEArca
134.54 https://s.yimg.com/lq/i/us/fi/03rd/up_g.gif 0.18(0.13%) 19:29 - Nasdaq Real Time Price


TLT Jan 2015 133.000 put (TLT150130P00133000)
-OPR
0.29 https://s.yimg.com/lq/i/us/fi/03rd/down_r.gif 0.27(48.21%) 19:13

TLT Jan 2015 132.500 put (TLT150130P00132500)
-OPR
0.24 https://s.yimg.com/lq/i/us/fi/03rd/down_r.gif 0.18(42.86%) 19:13
  • #6,890
  • Jan 27, 2015 1:44pm Jan 27, 2015 1:44pm
Quoting charron
Thinking of GE mar20 Call spread, buy strike 24 @.68 and sell strike 25 @.23, for total debit of 0.45 Let me know what you guys think
GE looking weak... but I don't follow GE or T. I usually trade tech stocks.

Attached Image (click to enlarge)
Click to Enlarge Name: GE.PNG Size: 252 KB


Doesn't look bullish to me. But, again, it is a classic Bull Call Spread, with long leg ITM... Doesn't require a giant push of stock price. IDK.
Hope is dangerous in this game.
  • #6,891
  • Jan 27, 2015 1:45pm Jan 27, 2015 1:45pm
Quoting Cecil Gee
Taken another trade in anticipation of the FOMC on TLT. Will the Fed steam roll ahead with its planned rate hike later this year or push it further back, i don't know but looking at TLT its had quite a run up and I found a long put spread that gives me a low entry level as I'm looking for a pullback
You got a lot of company on that one, CG, but TLT has been a tough short...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,892
  • Jan 27, 2015 1:59pm Jan 27, 2015 1:59pm
Quoting charron
Thinking of GE mar20 Call spread, buy strike 24 @.68 and sell strike 25 @.23, for total debit of 0.45 Let me know what you guys think
charron, that risk/reward model needs tweaking because GE does not move on average more than 30c daily. You could be stuck in that $1 range for a bit which eats in to the the option you purchased lowering your profit potential
  • #6,893
  • Jan 27, 2015 2:02pm Jan 27, 2015 2:02pm
Quoting The Fool
{quote} You got a lot of company on that one, CG, but TLT has been a tough short...
I know its a tough nut to crack at the moment but looking at todays candle should it close lower than yesterdays low we may see some kind of reversal
  • #6,894
  • Jan 27, 2015 2:08pm Jan 27, 2015 2:08pm
T.F./S.D. and anyone else pull up a USO chart are we seeing upside divergence could a low in oil be in place at least for a short term bounce
  • #6,895
  • Jan 27, 2015 2:18pm Jan 27, 2015 2:18pm
About USO/CL

CG, yes USO has a MCD/RSI bull dvg on daily chart... but that as only factor doesn't mean much, IMO.
Also, there is drag on USO, it doesn't follow /CL like 100% correlation.
IDK, many people expecting at least a bottoming phase on these levels. You can also look at the mega support line on monthly chart of CL, I posted that before.
That line is tested, but not broken so far. Many fancy tech indicators signaling bottom here, the only thing is that they done that already, but down momentum was too strong. Anyway, no harm done for a small bet to the upside. I just prefer /CL for that, not USO. Too bad IB doesn't have CL CFDs...
Hope is dangerous in this game.
  • #6,896
  • Jan 27, 2015 2:28pm Jan 27, 2015 2:28pm
Thinking what to do for ER's tonight, maybe something on YHOO and AAPL, and skip the rest of the bunch (WDC, EA, etc..)

YHOO could move big, if they disclose their intentions on remaining BABA shares...
Bullish? hm... steeping in front of a train with selling the Jan30 47/46.5 put spread? For like $0.23 credit...

On AAPL I am thinking of Iron Condor, or wide short strangle... like 100/120... idk.
Either way, don't want to gamble with buying expensive options now, looking to sell something, searching.
Hope is dangerous in this game.
  • #6,897
  • Jan 27, 2015 2:28pm Jan 27, 2015 2:28pm
I am stuck w/ USO or individual oil stocks if it's a trade from my IRA accounts - can not trade options on futures from there....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,898
  • Jan 27, 2015 2:41pm Jan 27, 2015 2:41pm
Interesting idea...

Attached Image (click to enlarge)
Click to Enlarge Name: AAPL-ratio-call-spread.PNG Size: 57 KB


EM for AAPL is about 6%... this lose money if stock breaches EM to the upside...
Hope is dangerous in this game.
  • #6,899
  • Jan 27, 2015 2:54pm Jan 27, 2015 2:54pm
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
trying to bail for a $0.05 net gain on the $115/$116 call diagonal, too chicken to hold into the ER! Options are buggin out near the close!

No luck!
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6,900
  • Jan 27, 2015 3:02pm Jan 27, 2015 3:02pm
Quoting StrayDog
YHOO ... selling the Jan30 47/46.5 put spread? For like $0.23 credit...
Tried that spread on YHOO, didn't get a fill ??? wtf. Didn't want to leg in.

Gave up on AAPL, I started to look for combinations to late in the day, had other things to do. Don't have any idea, so I will just skip all that.
Those trades need to be prepared in time, and even than you can get killed. That call ratio spread above is very interesting, though... I must learn more about that.
Hope is dangerous in this game.
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