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Let's Trade Options

  • #7,481
  • Mar 3, 2015 8:39am Mar 3, 2015 8:39am
Quoting StrayDog
BBY has ER's tomorrow BMO... You can't trust retailers. I wouldn't sell premium on this one... rather buy a strangle, like 37/40 weekly, with $1.5 room on each side, OR wait FADE after the statement...

Well. Selling the premium on this one would be a full winner. Also fading the move - but in premarket only was good, but I didn't have time for that. From +4%, BBY dropped to unchanged. Buying premium on this one would be a heavy loser. This time...

What of the above carry the smallest risk? Fading the move, if there are a move to fade?
Hope is dangerous in this game.
  • #7,482
  • Mar 3, 2015 8:40am Mar 3, 2015 8:40am
Quoting The Fool
US index futures showing red early, could we see something like a pullback taking shape? C'mon, seriously? I have lost the ability to believe in any such thing....
Same here my friend.
Hope is dangerous in this game.
  • #7,483
  • Mar 3, 2015 11:16am Mar 3, 2015 11:16am
Market very high, a lil' drop and VIX is +11%...
I was looking yesterday for some cheap VIX call spreads --> not so cheap now. Bid/ask spread is not very appealing there, though... VXX is the best volatility product after all. Wish VIX could have such options, like VXX.
Hope is dangerous in this game.
  • #7,484
  • Mar 3, 2015 1:12pm Mar 3, 2015 1:12pm
Quoting The Fool
US index futures showing red early, could we see something like a pullback taking shape? C'mon, seriously? I have lost the ability to believe in any such thing. I have a SPY $210.5/$210 put spread for Friday expiry, bought yesterday for $0.10 - if I get the chance to close it for $20 net, I will take it....I must've been high. UST's continue selling off....US stocks the new safe haven, they just go up forever...
SnP down a nice little dip, wonder if it could possibly hold? My Mar1 vert spread is about $50 in profit and I am tempted to take it now. How could it even be possible for SPY to go down two days in a row? UST futures are flat - still not flows in there despite equities being down, bond market still betting on a June FF rate hike. When will equities catch up to that? Or does it even matter? ...liquidity to the moon...of course if I put real money on a btfd long equity play now, we would get the deep dip that never came before...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,485
  • Mar 3, 2015 1:29pm Mar 3, 2015 1:29pm
Quoting The Fool
{quote} SnP down a nice little dip, ...
fml SPY dipped to $210.0x this morning and I missed it? That'll prolly be the last trip south to $210 in my lifetime....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,486
  • Mar 3, 2015 10:55pm Mar 3, 2015 10:55pm
BABA has been on my radar for a while, but not on the front burner. Too bad, it's been dropping steadily, dropped ~$2.50 today alone, looks like it could keep going. Might consider a cheap vert put spread on it...
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-03-03_baba.png Size: 51 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,487
  • Mar 4, 2015 8:19am Mar 4, 2015 8:19am
Quoting The Fool
BABA has been on my radar for a while, but not on the front burner. Too bad, it's been dropping steadily, dropped ~$2.50 today alone, looks like it could keep going. Might consider a cheap vert put spread on it... {image}
Good idea... it is down in premarket, dragging YHOO along... short the rip, if any... maybe even lower strikes a bit, like 79.5/79....
Hope is dangerous in this game.
  • #7,488
  • Edited 8:48am Mar 4, 2015 8:35am | Edited 8:48am
A long shot, but I did it anyway... IWM Mar6 Bear Put Spreads 120.5/120 for $0.05... not risking much, just 10 of those mofos.
Hope is dangerous in this game.
  • #7,489
  • Edited 9:01am Mar 4, 2015 8:48am | Edited 9:01am
Quoting StrayDog
{quote} Good idea... it is down in premarket, dragging YHOO along... short the rip, if any... maybe even lower strikes a bit, like 79.5/79....
I did a few of those BABA Mar6 79.5/79 Put Spreads for $0.11 debit

And they just opened some International Data Center... and stock is up
Hope is dangerous in this game.
  • #7,490
  • Mar 4, 2015 8:53am Mar 4, 2015 8:53am
Quoting The Fool
I have a SPY $210.5/$210 put spread for Friday expiry, bought yesterday for $0.10 - if I get the chance to close it for $20 net, I will take it.......
In for $0.10, out for $0.28....finally a little breathing room on my SPY diagonals
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,491
  • Mar 4, 2015 9:34am Mar 4, 2015 9:34am
Quoting StrayDog
{quote} I did a few of those BABA Mar6 79.5/79 Put Spreads for $0.11 debit And they just opened some International Data Center... and stock is up
I see BABA bouncing a little - I'd been afraid to short it cuz it had already slid so far...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,492
  • Mar 4, 2015 9:37am Mar 4, 2015 9:37am
SPY tested the 21 sma, another mini V-bottom?....new ath on the way?
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-03-04_spy.png Size: 107 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,493
  • Edited 10:39am Mar 4, 2015 10:00am | Edited 10:39am
Quoting The Fool
{quote} In for $0.10, out for $0.28....finally a little breathing room on my SPY diagonals
NIce job!

Quoting The Fool
{quote} I see BABA bouncing a little - I'd been afraid to short it cuz it had already slid so far...
And you are prolly right... another day, another dip bought... or not? Big news tomorrow, NFP on Friday... maybe we could see more profit taking.

Add-on
Made some money on the way up, but took only 4 ponts on SPX CFDs long... that will cover that BABA trade...
Hope is dangerous in this game.
  • #7,494
  • Mar 4, 2015 10:42am Mar 4, 2015 10:42am
http://www.forexfactory.com/news.php?do=news&id=529422

Biggest weekly build in 14 years and /CL barely down fitty cent. Bastard speculators are gonna rip oil out to $65+ by late Spring, I'm trying to fill a USO Jul/Oct $28 calendar for $0.13, may have to spend a little more - huge r:r...
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-03-04_uso.png Size: 60 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,495
  • Mar 4, 2015 10:44am Mar 4, 2015 10:44am
Quoting StrayDog
Add-on Made some money on the way up, but took only 4 ponts on SPX CFDs long... that will cover that BABA trade...
Cool, the Market giveth and the Market taketh away...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,496
  • Mar 4, 2015 11:37am Mar 4, 2015 11:37am
Hey TF... I am looking at one interesting combo with 44 DTE, we have discussed something like it yesterday.

Here is a bearish play on IWM... please put in on ToS, I would like to se it...

So, BUY IWM Apr 2 x Bear Put spread 121/120, that is financed by SELLING a single Apr 114 put.
All is done for credit, so NO UPSIDE RISK.
Current margin requirement on my Reg-T IB account is around EUR 1500. Max profit around $215.

On IB
Attached Image (click to enlarge)
Click to Enlarge Name: IWM-Apr-combo.PNG Size: 37 KB


On dough
Attached Image (click to enlarge)
Click to Enlarge Name: IWM-Apr-combo-2.PNG Size: 425 KB
Hope is dangerous in this game.
  • #7,497
  • Edited 1:23pm Mar 4, 2015 11:55am | Edited 1:23pm
Quoting StrayDog
OK, play a little with strikes, .. Sell one further OTM put spread to finance one debit put spred... no upside risk.
DEFINED RISK VERSION OF IWM COMBO

One for one... but it has to be one $3 wide put spread sold, to finance one $1 wide debit spread, like this...
Also, short strike 115 is on 1st standard deviation... If done for $0.05 CR, b/e is at $113.95...

Attached Image (click to enlarge)
Click to Enlarge Name: IWM-Apr-combo-4-defined-risk.PNG Size: 441 KB


No upside risk, max prof $100, max loss $200... margin req is $200 per combo, 4 options in combo... Hm, this is not that bad.

Add-on
It took a lot of time to fill, I got filled first on bear put spread for $0.33 debit, and later on bull put spread for $0.38 credit, so I am in this combo for $0.05 CR.
Hope is dangerous in this game.
  • #7,498
  • Mar 4, 2015 1:32pm Mar 4, 2015 1:32pm
Quoting The Fool
{quote} Cool, the Market giveth and the Market taketh away...
Yeah... SnP just retested 2100 from below, interesting... I took some beer money on shorting DAX CFDs, just 10 points, cos is too late for it, their market is long closed... from 11405 to 11395... What a moves today on DAX...

This is the market I like, moving market... Crude just got kicked out of the trading range (48.80 - 51)... My account is too small to trade futures, I don't want that risk, looking to use USO CFDs for day trades, to bypass PDT rules.
Hope is dangerous in this game.
  • #7,499
  • Mar 4, 2015 1:49pm Mar 4, 2015 1:49pm
IWM bear spread combo....cash account margin ding on the short 1-lot is $11,331, trade gets on for $69 credit
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-03-04_iwm.png Size: 59 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,500
  • Mar 4, 2015 1:53pm Mar 4, 2015 1:53pm
no fills on my longer-dated trades today - USO Jul/Oct $28 call calendar sitting at $0.15 mid; Trying a Jun/Aug BAC $18 call calendar for $0.12, almost there
"If The Fool persists in his Folly he will become wise." - William Blake
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