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Let's Trade Options

  • #9,981
  • Aug 9, 2015 12:28pm Aug 9, 2015 12:28pm
Quoting The Fool
{quote} sorry, m/l = "more or less". I have a bad habit of using shorthand without identifying it. Anyway, I appreciate your critique.
No worries, thanks.
I have no clue what I'm talking about.
  • #9,982
  • Aug 9, 2015 12:58pm Aug 9, 2015 12:58pm
the ambulance is on the way.....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #9,983
  • Aug 9, 2015 2:47pm Aug 9, 2015 2:47pm
Quoting NakedTraderX
I have been trading forex for sometime. I am very interested in learning about Options. Is there any video tutorial any of you would recommend?
Somebody else may have responded ... . Look at Dough.com basic intro videos, then move into the various segments of TastyTrade ... . There are a ton of them, but you'll soon get the gist of how they do things ... . The best takeaways come away from their Market Measures segment. You may also want to study individual traders' trades in the follow section to analyze and make sense of what they're doing ... . Not all those traders are that great, frankly ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #9,984
  • Aug 9, 2015 2:49pm Aug 9, 2015 2:49pm
Quoting The Fool
{quote} UUP sux, I'll tell ya why later.....
Kinda thought so. Might as well stick to FXE and trade dollar strength elsewhere indirectly ... . Naturally crops up everywhere where commodities are denominated in the Greenback (oil, precious metals ... ).
Fireworks are fun ... as long as you don't blow your fingers off.
  • #9,985
  • Aug 9, 2015 3:11pm Aug 9, 2015 3:11pm
Quoting The Fool
the ambulance is on the way..... {image}
Liking the ideas ... . I will have to try screening some individual underlyings and/or ETF's myself; been a bit lazy with all that I've had on in indices.

Speaking of which, here are my weekly mechanical index trades:

IWM Sep 25 105/108/125/128 IC for .68 cr
QQQ Sep 25 99/102/114.5/117.5 IC for .77 cr

I usually only go for one of these a week as the next 45 DTE slot becomes available, but I don't always get filled ... .

Tried setting up delta neutral SPY and DIA IC's, but the short put side isn't yet ideal for that yet ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #9,986
  • Aug 9, 2015 3:17pm Aug 9, 2015 3:17pm
Quoting ZebraSquirl
here are my weekly mechanical index trades: IWM Sep 25 105/108/125/128 IC for .68 cr QQQ Sep 25 99/102/114.5/117.5 IC for .77 cr I usually only go for one of these a week
I need to get on a regular diet of weekly credit trades. Looking for a bit of a bounce in the new week.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #9,987
  • Aug 9, 2015 4:33pm Aug 9, 2015 4:33pm
Quoting The Fool
{quote} I need to get on a regular diet of weekly credit trades. Looking for a bit of a bounce in the new week.....
They come and go in spurts, it seems, at least with the indices ... . Vol's there and then it's not, resulting in hand-sitting waiting for vol to return ... . Good opp here to put those on.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #9,988
  • Aug 9, 2015 4:37pm Aug 9, 2015 4:37pm
May do BABA, which announces earnings on 8/12 before market open:

70/73/84.5/87.5 Aug 14 expiry IC for .75 credit
73/84.5 Aug 14 expiry short strangle for 73/84.5 for 1.31 credit
Fireworks are fun ... as long as you don't blow your fingers off.
  • #9,989
  • Aug 9, 2015 7:55pm Aug 9, 2015 7:55pm
Seeing that /ES and /NQ are up a bit, going a little farther out with SPY and DIA IC's to try and catch vol before it bleeds out: Sep 30 SPY 187/190/215/218 IC for .68 and Sep 30 DIA 155/158/180/183 IC for .65 credit. Will try to grab setups in that Sep 25 Weekly expiry once the put side gels up with SPY (need .50 strikes below 195) and DIA (need .50 strikes below 165).

Still waiting for a vol pop in FXE to go laddered short call verts ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #9,990
  • Aug 9, 2015 8:02pm Aug 9, 2015 8:02pm
Quoting ZebraSquirl
{quote} Somebody else may have responded ... . Look at Dough.com basic intro videos, then move into the various segments of TastyTrade ... . There are a ton of them, but you'll soon get the gist of how they do things ... . The best takeaways come away from their Market Measures segment. You may also want to study individual traders' trades in the follow section to analyze and make sense of what they're doing ... . Not all those traders are that great, frankly ... .
Thanks a lot, ZebraSquirl.
  • #9,991
  • Aug 9, 2015 9:05pm Aug 9, 2015 9:05pm
Quoting ZebraSquirl
Seeing that /ES and /NQ are up a bit, going a little farther out with SPY and DIA IC's to try and catch vol before it bleeds out: Sep 30 SPY 187/190/215/218 IC for .68 and Sep 30 DIA 155/158/180/183 IC for .65 credit. Will try to grab setups in that Sep 25 Weekly expiry once the put side gels up with SPY (need .50 strikes below 195) and DIA (need .50 strikes below 165). Still waiting for a vol pop in FXE to go laddered short call verts ... .
/CL down at $43.5x and that will put a cloud over US equities if it keeps going. I am sitting on a bunch of those SPY Sept5 bear call verts - 214/217, 215/218, and 216/219. I almost closed the $216's last week when they dipped below 50%, but I though I might get a little more. If I am gonna do a $3 spread I want at least 6 bits...the best of the sets mentioned was 84c I think. I don't mind waiting & have plenty dry powder in some accounts to do more, will be looking for SPY to make some northside headway again in August, but will wait to see $210 or better.

Have a good week, ZS.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #9,992
  • Aug 10, 2015 12:12am Aug 10, 2015 12:12am
Yihaa, page 500

Some good discussions lately, this thread is getting better and better.
Hope is dangerous in this game.
  • #9,993
  • Aug 10, 2015 12:24am Aug 10, 2015 12:24am
Quoting StrayDog
Yihaa, page 500 Some good discussions lately, this thread is getting better and better.
word, thanks for sticking around, bud. I'm looking forward to some better vol and some fat returns
"If The Fool persists in his Folly he will become wise." - William Blake
  • #9,994
  • Aug 10, 2015 12:52am Aug 10, 2015 12:52am
Quoting The Fool
late September vol spike baby (....also look at VXX Sep/Sept4 $23 calendar for < 10c) (look at Sept4/Oct VXX $24/$25 diag calls)
VXX will slide on a flat to green day...may even slide a bit on slight red....but that next spike is out there.....the motherlode just waiting for me
"If The Fool persists in his Folly he will become wise." - William Blake
  • #9,995
  • Aug 10, 2015 5:54am Aug 10, 2015 5:54am
Quoting The Fool
{quote} /CL down at $43.5x and that will put a cloud over US equities if it keeps going. I am sitting on a bunch of those SPY Sept5 bear call verts - 214/217, 215/218, and 216/219. I almost closed the $216's last week when they dipped below 50%, but I though I might get a little more. If I am gonna do a $3 spread I want at least 6 bits...the best of the sets mentioned was 84c I think. I don't mind waiting & have plenty dry powder in some accounts to do more, will be looking for SPY to make some northside headway again in August, but...
I think much of CL's drop, like so many commodities, is in the $'s rise and it seems to me the old saw about buy the rumour sell the news is going to apply at some point to the $ unless the US really starts to see unequivocally strong data and I'm just not seeing that at the moment. So I'd expect teh $ to start to roll over some time between a) when the market thinks the first rise is a definite done deal, or b) the first rate rise, if the market is unsure all the way to the starting gun. Of course it's impossible to pinpoint (a) but the FF futures contract (ZQ) can help there.

It just doesn't make sense to me that the $ would remain so well bid supposedly on the basis of a paltry 10-25bp rise in the target FF rate, on what is largely reasonable but not outstanding and often patchy economic performance, and continue to be so well bid even after the first rise.

In equities I expect the same as you - more northwards from here - and am less bearish than before (possibly because I'm now holding just a short 2075 weekly put...funny how that happens ) but there jsut seems so much bearishness around that, given that ex-energy earnings have been apparently quite decent, this consolidation seems ever more likely to continue rather than to break heavily to the downside. And it seems the PBOC is about to ride to the rescue with their own form of QE.

http://www.bloomberg.com/news/articl...cs-takes-shape

Furthermore the SPX did recapture the 200dma on Friday. The world and his wife will be watching that 200dma closely from now on, and I cynically expect another test in the next few weeks, and for that test to fail, and for the talking heads on cnbc to wet their knickers, and lots of people to foretell doom and gloom, and to see a sharp move to the downside. But that will probably be just be another buying opportunity in this bull market. Frankly, I'm fed up fighting the trend, and would like to see how it feels to fight myself (i.e. my urge to fight the trend) instead. Because fighting the trend is bloody hard work and I am sick of it.
I have no clue what I'm talking about.
  • #9,996
  • Aug 10, 2015 6:16am Aug 10, 2015 6:16am
Oh my gawd. Will they just shut the f up.

First we had Yellen saying this:

http://www.bloomberg.com/news/articl...e-rise-in-2015
http://www.nytimes.com/2015/07/11/bu...ates.html?_r=0

which was then not repeated in the FOMC statement. So, wtf, she tells us they're likely to go up this year then in the statement days later there's no repeat of that?

But then last week Lockhart told us September is back on:

http://www.wsj.com/articles/atlanta-...tes-1438709252

But now today we hear Fischer telling us it's not:

http://www.marketwatch.com/story/no-...her-2015-08-10

And later today we hear again from Lockhart and find out if he's backtracking:

http://news.forexlive.com/!/if-anyth...ments-20150810

What a f**king mess. The Fed is a bloody joke. If they don't know, can't decide, then they should just agree on a script and stick to it and outside of that keep their bloody mouths shut. Trading is hard enough without these jokers constantly coming out and saying "it's on" then backtracking then coming out again and saying "it's on" and then backtracking....bloody hell, it's an interminable nightmare trying to figure this lot of jokers out.
I have no clue what I'm talking about.
  • #9,997
  • Aug 10, 2015 6:32am Aug 10, 2015 6:32am
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I have no clue what I'm talking about.
  • #9,998
  • Aug 10, 2015 6:56am Aug 10, 2015 6:56am
To a long USO @ 14.60 from last week, I've added a 15P/15C Jan 16 straddle for 2.93. I've done this in a second account that I've set up recently in IB which is intended to be a "conservative" account for wealth preservation and slow gains.
The payoff looks very reasonable to me. The only downside is that it's a very slow way of making a small amount of money but this trading account is supposed to be a supercharged bank account rather than a get-rich-quick account so I'll just have to get used to it:
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I have no clue what I'm talking about.
  • #9,999
  • Aug 10, 2015 7:20am Aug 10, 2015 7:20am
Is that a wedge I see on CL...
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I have no clue what I'm talking about.
  • #10,000
  • Aug 10, 2015 7:29am Aug 10, 2015 7:29am
Quoting Boy Wonder
To a long USO @ 14.60 from last week, I've added a 15P/15C Jan 16 straddle for 2.93. I've done this in a second account that I've set up recently in IB which is intended to be a "conservative" account for wealth preservation and slow gains. The payoff looks very reasonable to me. The only downside is that it's a very slow way of making a small amount of money but this trading account is supposed to be a supercharged bank account rather than a get-rich-quick account so I'll just have to get used to it: {image}
Added another - long USO @ 14.74 short Jan 16 16P/16C for 3.11.
I have no clue what I'm talking about.
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