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Let's Trade Options

  • #8,261
  • Apr 19, 2015 5:17pm Apr 19, 2015 5:17pm
Mmm ... FXE Sept18 80 puts open interest at 1512 ... . Somebody making quite a bet there ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #8,262
  • Apr 19, 2015 5:21pm Apr 19, 2015 5:21pm
Quoting ZebraSquirl
Mmm ... FXE Sept18 80 puts open interest at 1512 ... . Somebody making quite a bet there ... .
I assume it's the old "heck, they're only .05" ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #8,263
  • Apr 19, 2015 5:36pm Apr 19, 2015 5:36pm
Still churning through TastyTrade/Dough videos ... . After the initial set of videos (which basically gave me what I already knew), the show-based videos are basically hit and miss for nuggets of knowledge that I will want to use ... . They're all basically good, it's just that some trod over territory already covered elsewhere or consider things that I'm just not going to be doing by and large (for example, looking at the delta for your entire portfolio; it's a good thing to do, but I ain't gonna do it, largely because I am going to try to stick to nondirectional strategies for the most part).

Seems to me they just need to amp up their basic knowledge videos with another set of intermediate videos and advanced videos that will get to the point as succinctly as their basic videos do ... . I mean, there's a shit ton of videos to go through that could be boiled way down ... . That being the case, this is wayyy more of an informational base than was readily available twenty years ago, so I guess I shouldn't bitch ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #8,264
  • Apr 19, 2015 6:37pm Apr 19, 2015 6:37pm
Quoting ZebraSquirl
Still churning through TastyTrade/Dough videos ... this is wayyy more of an informational base than was readily available twenty years ago, so I guess I shouldn't bitch ....
Yep, there's a lot there, and there's a fair amount of repetition. What I have done is cherry pick thru the content, looking at topics that interest me, things I felt I really needed to know. Some of the time best spent was on the vids that deal with trade management, when to exit trades, etc. Something I still suck at but am def more mindful of having seen those vids.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,265
  • Apr 19, 2015 9:16pm Apr 19, 2015 9:16pm
Quoting ZebraSquirl
Mmm ... FXE Sept18 80 puts open interest at 1512 ... . Somebody making quite a bet there ... .
Well, anything can happen. If the Fed finally follows thru with a ffr hike (June? Sept? 2016?) then the case for lower fiber will be much tighter. There are somewhat higher probability trades for weaker fiber by Sept expiry, though...and nearly as cheap...$0.10 and $0.13 for the 2 bflies shown below, each w/ MaxP of ~10x...
Attached Image(s) (click to enlarge)
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,266
  • Apr 19, 2015 11:23pm Apr 19, 2015 11:23pm
Quoting The Fool
I have done several blocks of that May $212/$213 bear call vert, will be calling it a week soon, going out to do some surveying. Perfect day here, crystal sky, 65-70 deg. Maybe I should buy some VXX puts before the close, the whole Greek Brouhaha just blow over by next week.....?
Friday downmove just a profit-taking day. Fiber still flat. Even after the PBOC's big RRR move, markets m/l flat. Only /CL on the move, and that should support US equities in the new week. /ES pointing to a gap up Monday. /CL has made a $16 recovery in the month since $42.4x low. Long oil has been the trade. I saw it coming, and I am in it, but not as large as I shoulda been. But that's trading.... Long DAX, too, but I have no good way of trading that.

If I have to sweat on the May SPY $212 short above, I won't be surprised. Flatlining, low volatility, low volume markets everywhere you look. A good time to sit on dry powder.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,267
  • Edited 1:19am Apr 20, 2015 1:02am | Edited 1:19am
hope springs eternal....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,268
  • Apr 20, 2015 8:07am Apr 20, 2015 8:07am
Quoting Cecil Gee
levels to watch for downside DOW below 17795 then test 17600 break that 17398 and on, if we trade above 17960 then we go higher and break all time highs SPX needs to break and trade below 2075 then 2064 for a test down to 2018 and on, trade above 2086 then higher again USD (cash settled) had a bounce of the 50 day and closed at 97.71, so if we trade above 98.10 then higher from here when market open. We are still with the last FOMC range
Hi CG!
Are these levels for futures (/ES) or SPX cash index? Would like to check with my charts, thanks man.
Hope is dangerous in this game.
  • #8,269
  • Apr 20, 2015 8:12am Apr 20, 2015 8:12am
Quoting The Fool
... If I have to sweat on the May SPY $212 short above, I won't be surprised. ...
Yep, no surprise there, we are in the same boat... this is a Freddy Krueger market... it always gets up.
Hope is dangerous in this game.
  • #8,270
  • Apr 20, 2015 9:35am Apr 20, 2015 9:35am
Quoting StrayDog
{quote} Hi CG! Are these levels for futures (/ES) or SPX cash index? Would like to check with my charts, thanks man.
SPX cash settled
  • #8,271
  • Apr 20, 2015 9:39am Apr 20, 2015 9:39am
Quoting Cecil Gee
{quote} SPX cash settled
Hope is dangerous in this game.
  • #8,272
  • Apr 20, 2015 9:44am Apr 20, 2015 9:44am
Quoting Cecil Gee
levels to watch for downside DOW below 17795 then test 17600 break that 17398 and on, if we trade above 17960 then we go higher and break all time highs SPX needs to break and trade below 2075 then 2064 for a test down to 2018 and on, trade above 2086 then higher again USD (cash settled) had a bounce of the 50 day and closed at 97.71, so if we trade above 98.10 then higher from here when market open. We are still with the last FOMC range
this will depend if the DOW can close above 17960 and 18103 otherwise tomorrow I will be shorting again
  • #8,273
  • Apr 20, 2015 11:29am Apr 20, 2015 11:29am
trying to fill a May SPY $214/$215 short call vertical for $0.25...watching UVXY, trying to fill a bull call vertical there, Jun $11/$12 for $0.22, a few cents off
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,274
  • Apr 20, 2015 12:12pm Apr 20, 2015 12:12pm

Attached Image


sitting on my hands...
low, low volume everywhere
Hope is dangerous in this game.
  • #8,275
  • Apr 20, 2015 1:01pm Apr 20, 2015 1:01pm
What do retail investors do on volatile days?

Summary: What do retail investors do on volatile days like Friday’s 1.1% move lower on the S&P 500? ....
... The simple answer: they buy, and the predominant security type is single stocks rather than exchange traded funds.

"There were, for example, very few satisfying explanations for the +1.5% drop in the S&P 500 through 2pm, or the 50 basis point snapback into the close. And yet, the data is clear: retail bought this dip."

"Now, we really haven’t had a large bout of market volatility in several years, so we don’t know if they will step in when the CBOE VIX Index reaches 20, or 30, or higher. But for now, they still believe."

--------------------------------------

VIX at $20? Higher? They will run for the hill, all buying would be just buy-to-close short positions...
Hope is dangerous in this game.
  • #8,276
  • Apr 20, 2015 1:50pm Apr 20, 2015 1:50pm
Quoting The Fool
trying to fill a May SPY $214/$215 short call vertical for $0.25...watching UVXY, trying to fill a bull call vertical there, Jun $11/$12 for $0.22, a few cents off
partial fill on the SPY vert....I hate Mondays...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,277
  • Apr 20, 2015 2:31pm Apr 20, 2015 2:31pm
With VIX so low, I am thinking about put spreads with weeklies, like maybe SPY Apr24 208.50/208 for $0.10 debit.
SPY would have to close 1% lower on Friday for full profit.

Add-on
F... it, bought a few.
Hope is dangerous in this game.
  • #8,278
  • Apr 20, 2015 2:50pm Apr 20, 2015 2:50pm
Quoting StrayDog
F... it, bought a few.
aw hell, SDog done gone Super Bear....good luck, amigo. If we get some tweets about Greece or maybe some big ER misses, who knows, US stocks could sell off....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,279
  • Apr 20, 2015 2:55pm Apr 20, 2015 2:55pm
Quoting The Fool
{quote} aw hell, SDog done gone Super Bear....good luck, amigo. If we get some tweets about Greece or maybe some big ER misses, who knows, US stocks could sell off....
Exactly, I just covered that part... whole bunch of large size companies has ER's this week...
Looking to maybe do some ER's trades... I will see what tomorrow brings (YHOO, YUM, some others in AH tomorrow)
IBM is in consolidation since last big miss, it will be interesting today.
Hope is dangerous in this game.
  • #8,280
  • Apr 20, 2015 3:04pm Apr 20, 2015 3:04pm
Quoting The Fool
{quote} partial fill on the SPY vert....I hate Mondays...
10 lot filled all, tried to fill a FXI $55 May calendar for $0.10 just b4 the close, will look at it tomorrow....FXI move up on big PBOC liquidity help was a bit muted....
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-04-20_fxi.png Size: 59 KB
"If The Fool persists in his Folly he will become wise." - William Blake
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