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Let's Trade Options

  • #7,421
  • Feb 27, 2015 1:00pm Feb 27, 2015 1:00pm
Quoting Cecil Gee
{quote} has to be one of the worse trading weeks I've had for a while, spy does not want to move, all my options look to expire worthless. ....
Yeah man... we are in the same boat...

Inserted Video

+ banana
Hope is dangerous in this game.
  • #7,422
  • Feb 27, 2015 1:51pm Feb 27, 2015 1:51pm
Quoting StrayDog
eating my banana...
Just be thankful you have a banana. If SPY is gonna drop in the last hour I will not complain at all, but I need $210.50 to b/e on the Feb4 put spread. I've got GTC closer ready to go....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,423
  • Feb 27, 2015 1:55pm Feb 27, 2015 1:55pm
Quoting The Fool
{quote} Just be thankful you have a banana. If SPY is gonna drop in the last hour I will not complain at all, but I need $210.50 to b/e on the Feb4 put spread. I've got GTC closer ready to go....
I know...bananas are good. I even bought some more of those spreads @ $0.03 today...

Calling Lady Luck to the rescue...

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Hope is dangerous in this game.
  • #7,424
  • Feb 27, 2015 2:37pm Feb 27, 2015 2:37pm
Quoting StrayDog
Calling Lady Luck to the rescue...
b/e sucked in to $210.30, looking grim, I'll be going down with the ship, mateys, been nice knowing ye....aarrrrrgghh
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,425
  • Feb 27, 2015 3:01pm Feb 27, 2015 3:01pm
SPY looks to print another red doji - can't keep it up 4ever. Will be there Monday, though. Have a good weekend, ya'll
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,426
  • Feb 27, 2015 3:05pm Feb 27, 2015 3:05pm
Quoting StrayDog
... I even bought some more of those spreads @ $0.03 today...
Yep, that SPY put spreads are toasted... and I did get into VXX Feb27 28 calls for $0.09... result is the same.

Attached Image


Better luck next week... NQ is giving some, ES still strong... but like always, if market wanna go down a bit, tech go first.
Hope is dangerous in this game.
  • #7,427
  • Feb 27, 2015 6:03pm Feb 27, 2015 6:03pm
TUT Spread TT vid. Anybody trading these markets would benefit from studying the yield curve, UST bond futures trading, & correlations w/ other assets (Gold, VIX, etc), .... imho...

https://www.tastytrade.com/tt/daily_...5?locale=en-US
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,428
  • Feb 27, 2015 6:04pm Feb 27, 2015 6:04pm
cool, Liz & Jenny have a new segment on trading from your IRA

https://www.tastytrade.com/tt/daily_...5?locale=en-US
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,429
  • Feb 27, 2015 6:33pm Feb 27, 2015 6:33pm
https://www.tastytrade.com/tt/daily_...5?locale=en-US

Slim says March is gonna see the US indices roll over, the VIX go up, and UST's continue their uptrend....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,430
  • Feb 27, 2015 10:28pm Feb 27, 2015 10:28pm
a little wide....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,431
  • Feb 27, 2015 11:00pm Feb 27, 2015 11:00pm
http://www.nytimes.com/2015/02/28/bu...=dealbook&_r=0

idk, negative ir's all over Europe - why shouldn't UST's be getting bought? Maybe the Feb breakdown was just a misplaced anticipation of Fed rate hiking? a bear trap? Maybe better to play the upside only? a Mar/Apr $139/$140 call spread b/e's $131.40 to $143.00, risks $0.35 downside to make $1.15 max...15-lot shown costs $378 for a chance at maxP $1,872, burns $1.5k margin, but it's done in 3 weeks...

....the wider the time spread, the wider the profit spread
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,432
  • Edited 11:37pm Feb 27, 2015 11:15pm | Edited 11:37pm
Quoting Cecil Gee
{quote} has to be one of the worse trading weeks I've had for a while, spy does not want to move, all my options look to expire worthless. On another note T.F. if you see any verticals that are 2c or under and only 5 strikes aways and have 4 weeks DTE remaining let me know on SPY
I will look on SPY but if you like cheap verticals, QQQ is a good place to look. On the weekly chart I see many $3-$5 candles, OtoC, red and green...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,433
  • Edited 11:56pm Feb 27, 2015 11:24pm | Edited 11:56pm
CG, 5 ($0.50-spread) strikes out on QQQ Mar1 puts and the mid is already only $0.04, will of course go down next week. But you can be closer in, as I show above, and still have very cheap options.... So, I think to play a double vertical such as you (I think) played on SPY Friday, QQ's could work out well if you get a nice weekly move. Example below...

....you could probably find verticals north/south this cheap on a Tuesday, maybe for $0.04-$0.05 (total for both sides) by Thurs morning....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,434
  • Feb 27, 2015 11:40pm Feb 27, 2015 11:40pm
Quoting The Fool
....you could probably find verticals north/south this cheap on a Tuesday
Since these are so cheap on a Friday, I might be tempted to trade one side then and see if I could get a continuation in my direction the next Mon, and if not, I might load up the double...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,435
  • Edited 9:24am Feb 28, 2015 9:05am | Edited 9:24am
Quoting The Fool
Since these are so cheap ...
Speaking of cheap QQQ options - QQQ puts are worth looking at as a general hedge against a market crash (I know right? that's never gonna happen) - or think of it as a lotto ticket. Looking back thru the weekly charts I see lots of QQQ drops > $5 in 2 weeks. A 10-lot $7 otm 14 dte QQQ long put of course pays same as short 1,000 shares the u/l outright below the strike - $1,000/pt --- a 10-lot trade costs $80 + comms. If QQQ moved in your favor after you put on the long put, you could spread on it to make sure you might make something on it if you thought it could not get to your long put strike...

If you are trading a book of spreads or whatever, it is likely always useful to have a general hedge like this running, just in case of a market meltdown (or meltup). Cheaper than VXX is this way, maybe not as effective though, given potential much larger moves in VXX...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,436
  • Feb 28, 2015 9:32am Feb 28, 2015 9:32am
http://finance.yahoo.com/news/greece...-business.html

the only thing to fear is Greece

"Shut out of debt markets and faced with a steep fall in tax revenues, Athens is expected to run out of cash by the middle or end of March. Its finance minister has warned that Greece will struggle to repay creditors starting with a 1.5 billion euro IMF loan repayment due in March."
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,437
  • Feb 28, 2015 9:53am Feb 28, 2015 9:53am
I paid a nickel for this FXCM $5 call calendar - Mar/Mar4 - the may/Aug $4 calendar is also $0.05...there has been good news from FXCM - they are paying off the emergency loan they needed to stay alive after the SNB surprise. They announce earnings Tuesday. The fx brokers are cash cows, this is another cheap stock whose cheap long calls could make you rich...

Aug $4 calls are $0.10/$0.15
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,438
  • Feb 28, 2015 11:50am Feb 28, 2015 11:50am
Quoting The Fool
Aug $4 calls are $0.10/$0.15 {image}
I still have not opened that options account, I wanna buy it too, but April still far, hope am gonna manage to make that plan. Hope FXCM holds low levels below 3 bucks till end of March so I manage to buy at good price.
"I know one thing, that I know nothing." Sokrates
  • #7,439
  • Feb 28, 2015 12:32pm Feb 28, 2015 12:32pm
Quoting Tom_D_Trader
{quote} I still have not opened that options account, I wanna buy it too, but April still far, hope am gonna manage to make that plan. Hope FXCM holds low levels below 3 bucks till end of March so I manage to buy at good price.
it's cheap enough to just buy the stock, then you don't have to watch the calendar...no worry about time decay

http://www.marketwatch.com/story/leu...?siteid=yhoof2
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,440
  • Feb 28, 2015 2:47pm Feb 28, 2015 2:47pm
Quoting The Fool
Speaking of cheap QQQ options - QQQ puts are worth looking ...
Hey TF...

That is a good idea... /NQ was the strongest of the bunch, the first index that made a breakout... but as I sad above ---> if market wanna go down a bit, tech go first.

I know you receive e-mails from tastytrade, TP had a nice idea for AMZN... that is a best performer in /NQ currently, and it had an incredible run... but AMZN have insane valuations ---> IVR low so his idea was a long put spread Apr 390/380 financed with selling a Apr 360 put... all is done for credit...
Hope is dangerous in this game.
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