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Let's Trade Options

  • #11,781
  • Edited 1:55pm Jan 11, 2016 1:45pm | Edited 1:55pm
filled this UVXY puts bw fly for 25c......Feb $31/27/22
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-01-11_1143svxy.png Size: 83 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,782
  • Jan 11, 2016 1:55pm Jan 11, 2016 1:55pm
Quoting Pharm0r
Having to refresh my noggin on complex options strategies. Any place you prefer to read from?
most everything you can find on the web....a few good books to have on the shelf:

1) MacMillan "Options as a Strategic Investment"
2) Sinclair "Volatility Trading"
3) Passarelli "Trading Options Greeks"

#1 a good place to start but is quite dry...#2 don't bother if an integral sign freaks you out....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,783
  • Edited 3:45pm Jan 11, 2016 3:34pm | Edited 3:45pm
naked calls it is

jk of course- i will learn the game like a good padawan

OIL 31.54 is on deck...
  • #11,784
  • Jan 11, 2016 8:33pm Jan 11, 2016 8:33pm
Filled two long put VXX verts: a Feb 19th 17/18 for .13/contract and a Feb 26th 16/17 for .08.

Don't intend to be in them long ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #11,785
  • Jan 11, 2016 9:17pm Jan 11, 2016 9:17pm
/CL sub $31! Sub $30 this week!?? US equities can not rally while oyul is crashing! Exclamation! Man I would like to see the ^VIX spike to 30, UVXY spike to $50+. This week! Boom!

Watch commod names for new alltime lows! This rat here is be the winter of our discontent.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,786
  • Jan 11, 2016 9:24pm Jan 11, 2016 9:24pm
Quoting The Fool
/CL sub $31! Sub $30 this week!?? US equities can not rally while oyul is crashing! Exclamation! Man I would like to see the ^VIX spike to 30, UVXY spike to $50+. This week! Boom! Watch commod names for new alltime lows! This rat here is be the winter of our discontent.....
Happening too quick! Need another month to pump that sucker full of cash. Have another 2 days before some cash clears
  • #11,787
  • Jan 12, 2016 1:46am Jan 12, 2016 1:46am
Quoting StrayDog
{quote} Exactly... I used to trade DAX options on IB also, but I don't like their working time. DAX options seems to be options on DAX cash index, and that is why they have different multiplier and working time.
Yes, the Options are Index Options, not Future Options and they are traded from 8:50-17:30 CET, but the Dax Future is traded from 7:50-22:00 CET.
  • #11,788
  • Jan 12, 2016 10:43am Jan 12, 2016 10:43am
Quoting The Fool
/CL sub $31! Sub $30 this week!?? US equities can not rally while oyul is crashing! Exclamation! Man I would like to see the ^VIX spike to 30, UVXY spike to $50+. This week! Boom! Watch commod names for new alltime lows! This rat here is be the winter of our discontent.....
back to some weekly gamma strike trading , starting with USO because of the way crude is just keeps falling without a rest there will be daily spikes to take advantage for thu/fri expirations. Will not risk much but will be looking for closest OTM strike price to the underly price for 1-3 cents. If anyone hits we're talking multiples
  • #11,789
  • Jan 12, 2016 10:49am Jan 12, 2016 10:49am
Quoting Cecil Gee
{quote} will be putting in a order on FXY for jun 2016 exp, a strangle $81 call and $79 put. Current trading price is around $1.40 ish for the call and $1.70 for the put, these prices will change a bit because of the low volume in the holidays but will see if i can get a fill later. FXY price at yesterdays close is below again this will change when markets open, looking for some kind of run on USD/JPY to start either way CurrencyShares Japanese Yen ETF (FXY) -NYSEArca 80.44 29 Dec 21:00
need that FXY to clear 83, its stalling at current levels as is USD/YEN
  • #11,790
  • Jan 12, 2016 12:38pm Jan 12, 2016 12:38pm
Added some short delta today on the nice spike we had earlier. Put on 2 bear vertical call spreads shorted the 198 Feb16 SPY call and long 201 SPY call. Also put on a bear vertical call spread in the QQQs short 108 Feb16 call and long 110 Feb16 calls. Both positions are in decent profit now as I put them on earlier this morning. Still holding 105 Feb16 APPL call closed out the short 110 Feb16 call and just going to let the long call ride hoping to get pop above 105 from earning in 2 weeks we'll see. A bit under water in my USO covered call i put on around 9.80 and sold the Feb16 $10 calls to offer a little downside protection but still underwater from this big move below $31 in oil hoping we can see $30 defended and a bit of a rally soon. My short bond position is also starting to go against me forgot to close it out we'll see though i'm expecting decent pop in bonds especially if oil breaks $30 and we get more down in the indices and a bad China day...
  • #11,791
  • Jan 12, 2016 12:39pm Jan 12, 2016 12:39pm
Quoting Cecil Gee
{quote} back to some weekly gamma strike trading , starting with USO because of the way crude is just keeps falling without a rest there will be daily spikes to take advantage for thu/fri expirations. Will not risk much but will be looking for closest OTM strike price to the underly price for 1-3 cents. If anyone hits we're talking multiples
I would like to get this for 5c or better if I can, pending order put in. Its long call $9.50 USO for Fridays exp

USO Jan 2016 9.500 call (USO160115C00009500)
-OPR
0.08 https://s.yimg.com/lq/i/us/fi/03rd/down_r.gif 0.11(57.89%) 18:11

USO at $8.99 as of now
  • #11,792
  • Jan 12, 2016 7:37pm Jan 12, 2016 7:37pm
Quoting The Fool
/CL sub $31! Sub $30 this week!?? US equities can not rally while oyul is crashing! Exclamation! Man I would like to see the ^VIX spike to 30, UVXY spike to $50+. This week! Boom! Watch commod names for new alltime lows! This rat here is be the winter of our discontent.....
Maybe a small bounce, maybe not. Still holding out for $25.34, we closed $31.54.....volume on par as well
Attached Image (click to enlarge)
Click to Enlarge Name: crude.png Size: 83 KB
  • #11,793
  • Jan 12, 2016 9:53pm Jan 12, 2016 9:53pm
Quoting Schmidt
{quote} You'll have to get used to the TWS, definitely not the best Charting Software. But it has all I need and a lot of features. You can not use MT4 with IB. So if you need better charting software, you need something like Ninja Trader.
Thanks so much for your information mate. Basically, I don't care much about what the chart goes anyway when I trade Options. My options strategy barely use chart, fairly rely more on maths. Therefore, even they don't provide a chart is ok to me. LoL
  • #11,794
  • Jan 13, 2016 9:46am Jan 13, 2016 9:46am
Quoting Cecil Gee
{quote} I would like to get this for 5c or better if I can, pending order put in. Its long call $9.50 USO for Fridays exp USO Jan 2016 9.500 call (USO160115C00009500) -OPR 0.08 https://s.yimg.com/lq/i/us/fi/03rd/down_r.gif 0.11(57.89%) 18:11 USO at $8.99 as of now
cancelled that pending for another time
  • #11,795
  • Edited 1:36pm Jan 13, 2016 10:08am | Edited 1:36pm
Quoting ChinaTraderz
Thanks so much for your information mate. Basically, I don't care much about what the chart goes anyway when I trade Options. My options strategy barely use chart, fairly rely more on maths. Therefore, even they don't provide a chart is ok to me. LoL
show some trades, by all means, even if you are trading futures options,,,,,& welcome to the thread.

I have been in the city this week, dealing with medical stuff, hope to be back to the trading obsession before too long....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,796
  • Jan 13, 2016 1:54pm Jan 13, 2016 1:54pm
out of all long vix trades now.....sat on UVXY Jan call bflys - $45/55/65 and $45/50/55 for weeks, only to see them catch their biggest move up today, UVXY > $45, and me not able to fine tune exits, but I did get out of the latter one at $0.50 net - in for 10c out for 60c.....if vix keeps rising into the end of the week could be more glorious there, but the shit is fickle, and UVXY can drop > 10% in a few hours if the indices start to flatline or rise......now sitting on some short vix spreads for Feb, AAPL and NFLX and YUM spreads for earnings....still waiting on oil to crash into the $20's....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,797
  • Edited 2:51pm Jan 13, 2016 2:34pm | Edited 2:51pm
Quoting Cecil Gee
{quote} cancelled that pending for another time
took the trade on a long call USO $9.50 for Fridays expiration, its a high risk trade but risk worthy as I'm in for 3c, yesterdays bottom line has held up today thats not to say it may blow right through tomorrow especially with the data released today. If I can get $8.50 put for 4c before closing then I'll make this into a strangle trade again for Fridays exp

USO Jan 2016 9.500 call (USO160115C00009500)
-OPR
0.03 https://s.yimg.com/lq/i/us/fi/03rd/down_r.gif 0.11(78.57%) 20:06

United States Oil (USO)
-NYSEArca
8.99 https://s.yimg.com/lq/i/us/fi/03rd/down_r.gif 0.18(1.91%) 20:32

sticking to just the long trade
  • #11,798
  • Jan 13, 2016 5:48pm Jan 13, 2016 5:48pm
setting up tomorrow's trades: Jul PBR calls vert - $5/$6 for 4c - great r:r, see if it fills
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,799
  • Jan 13, 2016 7:21pm Jan 13, 2016 7:21pm
And I said that if we had another period like we had between March and August of last year, I'd off myself out of boredom ... .

Shit's just plain ass hopping: oil tanking, gold catching a bid, treasuries up, VIX popping, almost too many toys to play with ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #11,800
  • Jan 13, 2016 8:44pm Jan 13, 2016 8:44pm
$1.35 seems a lot to pay but you can see the r:r is decent and I have adjusted the vols down (-25% from current) to the levels seen when SVXY was last ranging around $60....volatility will not last 4ever....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2016-01-13_1838SVXYC.png Size: 103 KB
Click to Enlarge Name: 2016-01-13_1837SVXY1.png Size: 91 KB
"If The Fool persists in his Folly he will become wise." - William Blake
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