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Let's Trade Options

  • #8,281
  • Apr 20, 2015 3:05pm Apr 20, 2015 3:05pm
Quoting Cecil Gee
{quote} this will depend if the DOW can close above 17960 and 18103 otherwise tomorrow I will be shorting again
I'm looking to short the DOW futures for tomorrow, it may be just for a single day
  • #8,282
  • Edited 3:27pm Apr 20, 2015 3:10pm | Edited 3:27pm
Quoting StrayDog
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).
well, ya gotta do what ya gotta do. YUM I looked, atrocious spreads, I will look at some more in the pack laterzz
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,283
  • Apr 20, 2015 3:20pm Apr 20, 2015 3:20pm
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
they need to rev-split UVXY again, it is getting too cheap, another green day or 2 for the SnP and it will be <$10....

Of course, you can buy the stock if that's how you roll ... one of these days, maybe in my lifetime, we will see some more volatility spikes
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,284
  • Apr 20, 2015 11:21pm Apr 20, 2015 11:21pm
HK
Attached Image (click to enlarge)
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,285
  • Apr 21, 2015 6:39am Apr 21, 2015 6:39am
OIH
http://finance.yahoo.com/news/bulls-...153525395.html
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,286
  • Apr 21, 2015 6:54am Apr 21, 2015 6:54am
Quoting The Fool
{quote} they need to rev-split UVXY again, it is getting too cheap, another green day or 2 for the SnP and it will be <$10....
today, if the SnP gap up holds...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,287
  • Apr 21, 2015 9:48am Apr 21, 2015 9:48am
Quoting Cecil Gee
{quote} I'm looking to short the DOW futures for tomorrow, it may be just for a single day
so far so good, tracking very closely till close
  • #8,288
  • Apr 21, 2015 11:33am Apr 21, 2015 11:33am
Quoting Cecil Gee
{quote} so far so good, tracking very closely till close
we're on the 50 day MA on the DOW, MAKE OR BREAK
  • #8,289
  • Apr 21, 2015 11:44am Apr 21, 2015 11:44am
Trade for the brave ones... EM on CMG under 6%...

Chicken Iron Condor with weeklies...

Attached Image (click to enlarge)
Click to Enlarge Name: CMG-CIC.PNG Size: 501 KB
Hope is dangerous in this game.
  • #8,290
  • Apr 21, 2015 12:10pm Apr 21, 2015 12:10pm
Quoting StrayDog
Trade for the brave ones...
Not me
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,291
  • Apr 21, 2015 12:15pm Apr 21, 2015 12:15pm
Hi everyone,

Im trading forex for several years now, and have a good understanding of the markets (also indices, commodities, and stocks). This has led me to study also in options to diversify my investment opportunities. Currently im papertrading with CBOE, but I cant seem to find currency pairs, and the same indices as in my forex broker. Could someone tell me what im doing wrong or where i have to look for this kind of information?

Excuse me for interrupting, but the reason i ask it here is that i read the posts daily, and you guys seem to know what you are doing.

Thanks in advance!

csfxim
  • #8,292
  • Apr 21, 2015 12:41pm Apr 21, 2015 12:41pm
Hi csfxim,

CBOE mostly just covers equity options & VIX-derived options - if you want to trade currency options, look at the FXE, FXA, etc family of etf's - FXE options the only one I trade there but it is ok. Otherwise, you have to branch out to futures, where you can trade options on the currency futures, like /6E, etc...I don't trade those. ......."same indices as my forex broker.." - not sure what you are referring to there. Hope this helps.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,293
  • Apr 21, 2015 1:02pm Apr 21, 2015 1:02pm
Quoting StrayDog
Trade for the brave ones... EM on CMG under 6%... Chicken Iron Condor with weeklies... {image}
Assume you have not been neutered yet, StrayDog ... . Bigger nads than me on that one ... .

Some day I'll grow a pair, though ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #8,294
  • Apr 21, 2015 1:09pm Apr 21, 2015 1:09pm
Quoting Cecil Gee
{quote} we're on the 50 day MA on the DOW, MAKE OR BREAK
If the DOW can close at yesterdays open at 17840, then i'm looking at a few hundred point drop, closes above the 50 day then I'll reconsider my shorts
  • #8,295
  • Apr 21, 2015 1:14pm Apr 21, 2015 1:14pm
Quoting Cecil Gee
{quote} If the DOW can close at yesterdays open at 17840, then i'm looking at a few hundred point drop, closes above the 50 day then I'll reconsider my shorts
It's looking weak, flows out of US equities, UST's and the USD into the Eurozone (sure, go figure) and Chinese assets. Bubbles, bubbles everywhere in a frothy, foamy sea of excess cash. Hard for anything to fall hard until - pop....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,296
  • Apr 21, 2015 1:16pm Apr 21, 2015 1:16pm
Quoting The Fool
Hard for anything to fall hard until - pop....
...if you can discover why and when, well not so much why but especially when, you can get rich(er)....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #8,297
  • Apr 21, 2015 1:21pm Apr 21, 2015 1:21pm
Quoting csfxim
Hi everyone, Im trading forex for several years now, and have a good understanding of the markets (also indices, commodities, and stocks). This has led me to study also in options to diversify my investment opportunities. Currently im papertrading with CBOE, but I cant seem to find currency pairs, and the same indices as in my forex broker. Could someone tell me what im doing wrong or where i have to look for this kind of information? Excuse me for interrupting, but the reason i ask it here is that i read the posts daily, and you guys seem to know...
Hayseed's got a good set of resources on FX futures posted on one of his threads ... . Lots of good stuff: http://www.forexfactory.com/showthread.php?t=529274

I briefly flirted with thinking about getting into FX futures after the whole EUR/CHF flash crash, but decided that I would stick with spot: more liquidity and less to think about ... . Moreover, at least of right now, FX futures are somewhat limited (at least in my mind); you won't find the kinds of crosses you would in spot, so I imagine you'd have to basically create your own "synthetic" crosses, which requires more thinking than I want to do.

CBOE's being limited to certain financial instruments is probably a function of U.S. regulation or the fact that they have decided to just limit themselves to one set of products. You might want to consider going with more of a one-stop broker that gives you the option to do futures, options, FX, ETF's, index funds and equities in one place, but your choice in that regard is somewhat limited. Me personally, I hate having my crap scattered across several platforms/brokers, etc., but sometimes that's just the nature of the beast ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #8,298
  • Apr 21, 2015 1:22pm Apr 21, 2015 1:22pm
Quoting ZebraSquirl
{quote} Assume you have not been neutered yet, StrayDog ... . Bigger nads than me on that one ... . Some day I'll grow a pair, though ... .
No ZS, just an illustration out of boredom... I always say loud and clear when I enter a trade. I don't have cojones for that.

I am generally not interested in selling premium when VIX is so low, that I must be dangerously close to the edges of estimated move, to get anything meaningful. I like selling wide, wide strangles... but when IV / IVR is much higher than now (and not on the expensive mofos like CMG, more like on < $150 stocks).
Hope is dangerous in this game.
  • #8,299
  • Apr 21, 2015 1:33pm Apr 21, 2015 1:33pm
Quoting StrayDog
{quote} No ZS, just an illustration out of boredom... I always say loud and clear when I enter a trade. I don't have cojones for that. I am generally not interested in selling premium when VIX is so low, that I must be dangerously close to the edges of estimated move, to get anything meaningful. I like selling wide, wide strangles... but when IV / IVR is much higher than now (and not on the expensive mofos like CMG, more like on < $150 stocks).
Still doing my little bit of self-education, so just looking at Dough trader's ideas to figure out their rationale and whether their trades make sense to me, but that's where I would be going: low cost underlying/wide strangles ... .

But this short-term TastyTrader trade is not bad (were it not for the price):

Attached Image (click to enlarge)
Click to Enlarge Name: CMG Strangle.jpg Size: 373 KB
Fireworks are fun ... as long as you don't blow your fingers off.
  • #8,300
  • Apr 21, 2015 1:34pm Apr 21, 2015 1:34pm
Hey TF... as you say "weakshit" volume...
On /ES about 850k contracts so far... Pretty boring days. VIX @ $13...
SPX could have inverted hammer daily candle... (I know, big thing, but still.... mofo can't move over resistance TL I showed somewhere above, tested it AGAIN today)
Hope is dangerous in this game.
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