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Let's Trade Options

  • #10,121
  • Aug 12, 2015 12:00pm Aug 12, 2015 12:00pm
Quoting The Fool
100 shares long UWTI hedges the 10-lot long call diagonal deathslide; the puts diagonal provides some protection if the shares move down.
this idea of hedging an equity option position with correlated 3x leveraged etf shares can be done elsewhere - like with GLD (options) and NUGT shares....it works as a bottom picking play, a little dicey otherwise
"If The Fool persists in his Folly he will become wise." - William Blake
  • #10,122
  • Aug 12, 2015 12:08pm Aug 12, 2015 12:08pm
slap-down for NBG, I shoulda just bought shares when it was 70c...well, maybe get another chance at that anyway

http://finance.yahoo.com/news/exclus...112736014.html
"If The Fool persists in his Folly he will become wise." - William Blake
  • #10,123
  • Aug 12, 2015 1:49pm Aug 12, 2015 1:49pm
Quoting The Fool
{quote} yep. I keep missing my chances, though. Had a good roll-off opp this morning but slept right through it.
feeling pretty stupid, held out for a measly cent on a good % rolloff for one o them spreads now prolly have to wait another month.....also shoulda took the money on FSLR, that won't come back in my time frame likely now. I don't know why I even bother with short term trades, I never seem to be able to pull them off.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #10,124
  • Aug 12, 2015 2:06pm Aug 12, 2015 2:06pm
What a pullback... SnP run up all the way to the cash index close of 2084... it is 2080 on /ES, a good place for quick scalp.

Well, lots of crazy shit moves today.
Hope is dangerous in this game.
  • #10,125
  • Aug 12, 2015 2:11pm Aug 12, 2015 2:11pm
Quoting StrayDog
What a pullback... SnP run up all the way to the cash index close of 2084... it is 2080 on /ES, a good place for quick scalp. Well, lots of crazy shit moves today.
Also 61.8 fib retrace from last swing -> Monday high to low of today.
/NQ also now on 61.8 fib of the same swing... interesting
Hope is dangerous in this game.
  • #10,126
  • Aug 12, 2015 2:40pm Aug 12, 2015 2:40pm
Up we go... /ES volume above 2M contracts after a long, long time... Short squeezing again? Can't tell... but those teddy bears, man... they can't make ONE daily candle bellow holy sma. Pathetic performance. Just grow up, teddy bears.

Imagine Chinese devaluation of yuan AGAIN tonight... That would be a cherry on top of this mess... Missed that down moves, made a few pennies after and didn't stick my neck it the fire later. All cash. Gonna clean my sniper, cos now I can't see any crippled little pig.
Hope is dangerous in this game.
  • #10,127
  • Aug 12, 2015 2:46pm Aug 12, 2015 2:46pm
Quoting StrayDog
What a pullback... SnP run up all the way to the cash index close of 2084... it is 2080 on /ES, a good place for quick scalp. Well, lots of crazy shit moves today.
this is the precise reason I bought far OTM strangles because if it does continues its bounce up how many would have been caught out, still no clear direction
  • #10,128
  • Aug 12, 2015 3:06pm Aug 12, 2015 3:06pm
Quoting Cecil Gee
... still no clear direction
Yeah, we are right in the middle of the range AGAIN.
2040 - 2130
Well, gonna hit the sack.
Hope is dangerous in this game.
  • #10,129
  • Aug 12, 2015 4:41pm Aug 12, 2015 4:41pm
Quoting ZebraSquirl
Aug 21 BABA 68.5/85 short strangle for 1.19 credit. Will take off for 50% max profit ... .
Filled for .59 db within 13 seconds of open ... . Wish they were all that easy ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #10,130
  • Aug 12, 2015 5:01pm Aug 12, 2015 5:01pm
Quoting ZebraSquirl
{quote} Filled for .59 db within 13 seconds of open ... . Wish they were all that easy ... .
Got out of some other junk, too: a couple of SVXY short call verts went on the dip ... . Will wait for 96.5 or 97 to short again. Personally, like it better than UVXY ... . But really, it's just as junky (wide spreads) ... . The way to set those up is during market hours when you can do "market discovery" around the mid ... .

Hoping to add another 112/115 FXE short call vert (Sep 25 expiry; .49 cr) on this EURUSD bounce here ... .

As SD pointed out, SPY is back to smack dab in the middle of the 2036-2137 range that's been in place since mid-March ... . Been going somewhere, then nowhere fast ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #10,131
  • Aug 13, 2015 12:01am Aug 13, 2015 12:01am
Quoting ZebraSquirl
{quote} Got out of some other junk, too: a couple of SVXY short call verts went on the dip ... . Will wait for 96.5 or 97 to short again. Personally, like it better than UVXY ... . But really, it's just as junky (wide spreads) ... . The way to set those up is during market hours when you can do "market discovery" around the mid ... . Hoping to add another 112/115 FXE short call vert (Sep 25 expiry; .49 cr) on this EURUSD bounce here ... . As SD pointed out, SPY is back to smack dab in the middle of the 2036-2137 range that's been in place since...
Only plan for remainder of this week is to reload the short call verts in SPY that got taken out on these dips if we see 210-211 again -- short call strikes above 214; 213 if I feel frisky ... . Some of this rip/dip shit is happening intraday; day job blows ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #10,132
  • Aug 13, 2015 8:08am Aug 13, 2015 8:08am
Looks to me like there is a good bid in 30-year bonds given the lack of follow-through selling (so far; the day is yet young) following yesterday's "topping" candle.
Attached Image (click to enlarge)
Click to Enlarge Name: Image2.png Size: 26 KB
I have no clue what I'm talking about.
  • #10,133
  • Aug 13, 2015 8:12am Aug 13, 2015 8:12am
Quoting ZebraSquirl
{quote} Hoping to add another 112/115 FXE short call vert (Sep 25 expiry; .49 cr) on this EURUSD bounce here.
Did you get it on?
I have no clue what I'm talking about.
  • #10,134
  • Aug 13, 2015 10:10am Aug 13, 2015 10:10am
wow, no CB's have rocked the markets in the last few hours. Just a matter of time, though....FOMC minutes next Wed will maybe have a chance, Eurozone settling Greek deal this week maybe? idk.....I am watching the hydrocarbons....natgas and wti both on a slide. /CL printing $42.1x this morning....will settle under $42 with USD strengthening. I will be watching UGAZ, may buy shares if I see it slide below $1.90.....any options trades on UNG will be looking out for a winter jump, long call calendars or diags.....watching also UWTI and may start trading it just for short term oil moves....otherwise sitting on SPY Sept5 bear call verts, need to see $205 to start buying out. If no big drama in coming weeks I'd expect SnP volume to slide down to <70MM....out to Jackson Hole & then the runup to the Sept FOMC....late Aug a good time to go on vacay....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #10,135
  • Aug 13, 2015 10:28am Aug 13, 2015 10:28am
Quoting The Fool
...late Aug a good time to go on vacay....


Took a few points on /NQ... that becomes my usual trade, so far so good. Looking at my trading journal, about 90% of the scalping trades was NAS.

Price action -> up/down and up/down... very nice spot for initial short of both /ES and /NQ WAS 2 hours before open, a fantastic confluence of fib retracement, horizontal levels, channels and moving averages, even the mofo MACD had a 60m bearish cross... yep. 2 hours before open... SPX @ 2094, meaning /ES @ 2090... Didn't look then at charts, was eating lunch. Ten points on /ES and more than 20 on /NQ was on the table. Well, shorted the first pullback, took some beer money.

Up/down, up/down... reminds me of this song...
Inserted Video


Cash only... love the cash position.
Hope is dangerous in this game.
  • #10,136
  • Aug 13, 2015 4:35pm Aug 13, 2015 4:35pm
SnP flat on the day, flat on the week. BFD outta China just a storm in a teacup.....prolly be flat Friday, too.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #10,137
  • Aug 13, 2015 5:25pm Aug 13, 2015 5:25pm
Quoting Boy Wonder
{quote} Did you get it on?
Nope. Didn't fill. Noticed that Oct 2nd expiry opened up, so I'll try to get a fill tomorrow -- same strikes ... . Not big on doing much on Fridays (or Monday's for that matter), but don't want to miss this little bounce in EURUSD here ... . This was going to be a ladder, but now it's looking like it's going to be one rung at 112/115 at various expiries. Currently have a Sep 25th 112/115 and a Dec 112/115. When mid-October opens up, I'll probably set up a mid-Oct and then the January, assuming FXE looks good to descend toward parity as virtually every pundit has prognosticated will occur ... . My guess is that it is likely to be in fits and spurts, but you never know ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #10,138
  • Aug 13, 2015 5:35pm Aug 13, 2015 5:35pm
Quoting StrayDog
{quote} Took a few points on /NQ... that becomes my usual trade, so far so good. Looking at my trading journal, about 90% of the scalping trades was NAS. Price action -> up/down and up/down... very nice spot for initial short of both /ES and /NQ WAS 2 hours before open, a fantastic confluence of fib retracement, horizontal levels, channels and moving averages, even the mofo MACD had a 60m bearish cross... yep. 2 hours before open... SPX @ 2094, meaning /ES @ 2090... Didn't look then at charts, was eating lunch. Ten points on /ES and more than...
What is this thing you call "cash only"? Seems like a curious and wonderful state to be in ... . Does it require a doctor's prescription? Lol.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #10,139
  • Aug 14, 2015 12:54am Aug 14, 2015 12:54am
woohoo, /CL $41.35 tonight, boy was I wrong about that Summer rally...how low can it go...?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #10,140
  • Aug 14, 2015 6:56am Aug 14, 2015 6:56am
Quoting ZebraSquirl
{quote} Nope. Didn't fill. Noticed that Oct 2nd expiry opened up, so I'll try to get a fill tomorrow -- same strikes ... . Not big on doing much on Fridays (or Monday's for that matter), but don't want to miss this little bounce in EURUSD here ... . This was going to be a ladder, but now it's looking like it's going to be one rung at 112/115 at various expiries. Currently have a Sep 25th 112/115 and a Dec 112/115. When mid-October opens up, I'll probably set up a mid-Oct and then the January, assuming FXE looks good to descend toward parity as virtually...
I think it will be unlikely not to see DXY retest its highs before long; but parity, I don't know but if it fails at 1.12, then a move back down to the lows of this year seems reasonable.
I have no clue what I'm talking about.
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