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Let's Trade Options

  • #7,961
  • Mar 31, 2015 11:41pm Mar 31, 2015 11:41pm
The parity trip. FXE IVR >90%...Sell call spreads to fund put spreads or outright long puts....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,962
  • Apr 1, 2015 9:45am Apr 1, 2015 9:45am
Quoting Cecil Gee
{quote} crude futures low is 47.16, will wait for china manufacturing data if bad will short crude on a little pullback
CG, do you understand these movements on inventories? Number is bigger than expected, and yet it is climbing again...
Hope is dangerous in this game.
  • #7,963
  • Apr 1, 2015 11:50am Apr 1, 2015 11:50am
I entered (by legging in, since no luck otherwise) AMZN Apr 380/385 Bear Call Spread for $1.20 CR....

Margin req are too large for selling naked options on my account... Looking at weekly and daily chart, seems like a dip before earnings (announced for Apr 23), and a resistance at $380...

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Hope is dangerous in this game.
  • #7,964
  • Apr 1, 2015 1:04pm Apr 1, 2015 1:04pm
Quoting StrayDog;8176582[B
]Looking at /CL options... [/b]I checked permission to trade futures options, to see premium there... So, I am looking at puts and calls $8 OTM. {image} So, basically equidistant puts are 2x the calls, understandable... Multiplier is 1,000 just like for the futures, meaning that May 40 put with 45 DTE is $250... (0.25)
I made a mistake here, since Oil May contracts actually expire in April... it is the same for /CL futures and /CL futures options... So that May options I looked yesterday did't had 45 DTE, but much less, since they expire on Apr 16th... Like 17 DTE yesterday... Nice premium for 17 DTE...

here are the May 56 call... May call, expires on Apr 16... it is now about $0.25 (or 250 bucks baby)
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Had one small short on USO, when CL was $49.90... beer money, since I do not have any levels here...
Hope is dangerous in this game.
  • #7,965
  • Apr 1, 2015 1:10pm Apr 1, 2015 1:10pm
Quoting StrayDog
... Had one small short on USO, when CL was $49.90... beer money, since I do not have any levels here...
pffff.... didn't see that in time... fibo 61.8 retracement

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when I missed the bull party... I wanted to fade the mofo somewhere... well...
Hope is dangerous in this game.
  • #7,966
  • Apr 1, 2015 3:17pm Apr 1, 2015 3:17pm
No time to trade today. No trades = no money lost. WA lotto today is $6.5 million......
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,967
  • Apr 1, 2015 11:35pm Apr 1, 2015 11:35pm
this was the largest options trade for Wednesday, somebody is bearish WTI. They did near 100,000 of these bear put vert spreads....a $5 million bet. If/when Iran gets a deal done, that will reinforce the oil bear case....about a 3x max return on the spread...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,968
  • Apr 2, 2015 12:21am Apr 2, 2015 12:21am
EEM puts/calls running 4:1. Lotsa June $38 puts traded today, various spreads. EEM 3-yr low is $36.16. Options traders betting Fed hiking...me I would not sacrifice too much on a short EEM trade.
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,969
  • Apr 2, 2015 12:24am Apr 2, 2015 12:24am
Jun SPY $190/185/180 puts fly debits $18, has a maxP at expiry of $316.5...even at May expiry there's good max return, with huge profit range $202 down to $163....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,970
  • Apr 2, 2015 12:51am Apr 2, 2015 12:51am
I like these long-dated flies, Sep SPY $189/183/$177 debit $0.23, maxP at expiry is $4.15. At Jul expiry, the profit range is $204.25 down to $156, with a maxP of $0.62 at around $178....

The huge profit range in the mid-term of the trade is attractive: if things work out, close part of the trade to move it towards b/e, let the rest ride.
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,971
  • Apr 2, 2015 1:13am Apr 2, 2015 1:13am
QQQ caught a nice bounce Wed close, but /NQ pointing to a gap down at the open Thur, I may look to blow another $40-$50 on a long call scalp with hours to expiry...see how it goes on the open & maybe go long $106 calls if it looks possible
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,972
  • Apr 2, 2015 1:19am Apr 2, 2015 1:19am
another end-week scalp idea is USO - it should gap down at the open but may fall further if there is any kind of news from the Iran talks, look at $17 puts
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,973
  • Apr 2, 2015 1:30am Apr 2, 2015 1:30am
2c mid on this Oct USO call fly, fat chance getting filled
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,974
  • Apr 2, 2015 5:04am Apr 2, 2015 5:04am
Quoting The Fool
another end-week scalp idea is USO - it should gap down at the open but may fall further if there is any kind of news from the Iran talks, look at $17 puts
Interested in such scalps, would go in puts if situation is good, but only if I can get in under 5 cents...

Market can be really quiet before holidays, but also in lack of liquidity t can produce good moves in final hours... looking also at expensive stocks, AMZN, NFLX, maybe AAPL, TSLA...
Hope is dangerous in this game.
  • #7,975
  • Apr 2, 2015 8:55am Apr 2, 2015 8:55am
Quoting StrayDog
{quote} Interested in such scalps, would go in puts if situation is good, but only if I can get in under 5 cents... Market can be really quiet before holidays, but also in lack of liquidity t can produce good moves in final hours... looking also at expensive stocks, AMZN, NFLX, maybe AAPL, TSLA...
missed by 1 second getting in QQQ $106 calls for $0.03, will call it a paper trade

USO $17 puts for $0.02...not sure
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,976
  • Apr 2, 2015 9:10am Apr 2, 2015 9:10am
mids are a teaser....maxP on this fly is a bajillion dollars, hope it fills
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,977
  • Apr 2, 2015 9:10am Apr 2, 2015 9:10am
Quoting The Fool
{quote} missed by 1 second getting in QQQ $106 calls for $0.03, will call it a paper trade USO $17 puts for $0.02...not sure
Better choice IMO would be 105.50 calls... always look for the nearest strike if you can get it cheap... Learned that from CG and from my experience...
Lets practice these gamma scalps each Friday (or whatever the last day in the week )...
Hope is dangerous in this game.
  • #7,978
  • Apr 2, 2015 9:12am Apr 2, 2015 9:12am
Quoting The Fool
mids are a teaser....maxP on this fly is a bajillion dollars, hope it fills {image}
Hope never dies... Many times I had to leg in just to enter the trade... MMBTCHZ...

Ah, you made a slightly broken wing fly to get it cheaper... $6 up and $7 down... $100 margin req...
Hope is dangerous in this game.
  • #7,979
  • Apr 2, 2015 9:19am Apr 2, 2015 9:19am
Quoting StrayDog
{quote} Better choice IMO would be 105.50 calls... always look for the nearest strike if you can get it cheap... Learned that from CG and from my experience... Lets practice these gamma scalps each Friday (or whatever the last day in the week )...
ok, USO has dipped below $17.50 - get the $17 calls for $0.04?...long way down there, not sure I trust USO to move....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7,980
  • Apr 2, 2015 9:26am Apr 2, 2015 9:26am
Quoting StrayDog
Ah, you made a slightly broken wing fly to get it cheaper... $6 up and $7 down... $100 margin req...
wasn't filling, trying symmetrical Sep $190/$185/$180 puts for $0.16, best liquidity on those strikes I spec....
"If The Fool persists in his Folly he will become wise." - William Blake
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