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Let's Trade Options

  • #11,861
  • Jan 19, 2016 1:51pm Jan 19, 2016 1:51pm
Quoting The Fool
/ES marking a $2 gap up for SPY Tuesday...?....... I am looking to sell a Feb SPY put vert, will look for a min 65c credit on a $3 spread....maybe $182/179....?
didn't load no SPY spread action, just a watcher now....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,862
  • Jan 19, 2016 3:37pm Jan 19, 2016 3:37pm
Quoting The Fool
{quote} didn't load no SPY spread action, just a watcher now....
Markets insane not even a slight bounce at all yet...The more this goes on the more i'm thinking this is it. Still hoping and praying for one more Central Bank fueled squeeze before the house of cards comes crumbling down. Just take the S & P back to 2000 and i'll die a happy man. 1750 here we come . It doesn't help that my portfolio is becoming more and more bullish too as I just can't bring myself to sell at these levels and buying is almost as painful.
  • #11,863
  • Jan 19, 2016 5:52pm Jan 19, 2016 5:52pm
Non-Earnings Premium Selling Play

XLE Feb 26th 47.5/59 short strangle
POP%: 73
Max Profit: $144/contract
BPE: ~$531
BE's: 46.06/60.44
Fireworks are fun ... as long as you don't blow your fingers off.
  • #11,864
  • Jan 19, 2016 5:56pm Jan 19, 2016 5:56pm
Quoting thegmann
{quote} Markets insane not even a slight bounce at all yet...The more this goes on the more i'm thinking this is it. Still hoping and praying for one more Central Bank fueled squeeze before the house of cards comes crumbling down. Just take the S & P back to 2000 and i'll die a happy man. 1750 here we come.....
idk, I'd thought we would get US equities rallying when oil scrapes bottom down at $20-$25 and/or when the Jan FOMC reiterates a very gradual rate hike scheme for 2016. We'll see, Fed on deck next week, oil keeps sliding....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,865
  • Jan 19, 2016 6:23pm Jan 19, 2016 6:23pm
Quoting ZebraSquirl
Non-Earnings Premium Selling Play XLE Feb 26th 47.5/59 short strangle
GOOD IDEA - I think there will be lots of good opps to go super bull on energy names - sell put spreads to fund bullish call spreads....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,866
  • Jan 19, 2016 8:39pm Jan 19, 2016 8:39pm
taking off the $104/$105 legs pre-ER on the NFLX DC almost broke me even, now with NFLX popped to near the sweet spot of the remaining $116 calendars I have a chance for glory, see what the iv's do tomorrow.....even if they drop a ton (40%?) I might still net 85c by Friday if NFLX will sit still (fat chance).....
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-01-19_1834nflx.png Size: 82 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,867
  • Jan 20, 2016 12:58am Jan 20, 2016 12:58am
solar stocks will rebound with oil but prolly faster/further than oil.....
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-01-19_2256scty.png Size: 12 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,868
  • Jan 20, 2016 1:08am Jan 20, 2016 1:08am
Quoting The Fool
solar stocks will rebound with oil but prolly faster/further than oil..... {image}
I think both IMX and SPY ETF provide some good vertical opportunities as well. But usually I will take 2 gaps.
  • #11,869
  • Jan 20, 2016 1:11am Jan 20, 2016 1:11am
Quoting ZebraSquirl
Non-Earnings Premium Selling Play XLE Feb 26th 47.5/59 short strangle
looking like it will slide more tomorrow
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,870
  • Jan 20, 2016 1:53am Jan 20, 2016 1:53am
Quoting ChinaTraderz
{quote} I have stop trading options for about 6 months because busy moving in to Shanghai. That's a bit crazy of the premium. Usually it is just about about 240 - 260 maybe, what a big increase of premium recently. Implied volatility plays big roles?
Yes, the Premium is very high. Not a bad thing actually, if you write Options.
  • #11,871
  • Jan 20, 2016 10:19am Jan 20, 2016 10:19am
missing all this action, have been m/l incapacitated for the last week or so.....my short vol (SVXY) trades bleeding all over my books, but they have time.....now I guess I must be a bottom fisher. Or go to Mexico.....USD/MXN at 18.6, dollar will go a long way....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,872
  • Jan 20, 2016 7:21pm Jan 20, 2016 7:21pm
Quoting Cecil Gee
{quote} will look to TLT march month to see if if the large option buyers decide to close there position, huge positions were taken on the last trading day of the year just gone at 125-130 and 135 calls, the last one interests me the most, once I see those open interest decline then its either a bounce time or consolidating for a while, so far doing well with FXY open positions
noticed that half of the 80000 contracts on the march call 135 open interests have been closed, might be nearing a good bounce from here

on the indexes
  • #11,873
  • Jan 20, 2016 7:39pm Jan 20, 2016 7:39pm
In and out of the NFLX iron condor for 50% max profit (.50/contract) ... .

Added a March 18th SVXY 25/30 short put credit spread to the short vol mix for 1.63 ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #11,874
  • Jan 20, 2016 7:42pm Jan 20, 2016 7:42pm
Quoting ZebraSquirl
Non-Earnings Premium Selling Play XLE Feb 26th 47.5/59 short strangle POP%: 73 Max Profit: $144/contract BPE: ~$531 BE's: 46.06/60.44
Flopped around quite a bit during the session, but got filled at 1.44 shortly after open ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #11,875
  • Jan 20, 2016 7:45pm Jan 20, 2016 7:45pm
It's about darn time I played an airline:

UAL Jan 29 40/48 short strangle for an .87 credit ... . They announce tomorrow morn before market open. Probs not worth the BP, frankly.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #11,876
  • Jan 20, 2016 9:50pm Jan 20, 2016 9:50pm
Quoting Schmidt
{quote} Yes, the Premium is very high. Not a bad thing actually, if you write Options.
Yeah, in fact I think the IV that makes better to write now instead of buying it. Probably I have to change my strategy to shift to 2 months contract instead of 1 month to cut down my trading cost because it cost about 320 for 2 months. So on average about 160 pips per month contract. I do write contract but not that far as my strategy using standard deviation trading. Probably Vertical is a good strategy to play with on such IV.
  • #11,877
  • Jan 20, 2016 11:11pm Jan 20, 2016 11:11pm
may take a shot on a BAC bounce....
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-01-20_2109bac.png Size: 72 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,878
  • Jan 21, 2016 7:16pm Jan 21, 2016 7:16pm
Quoting Cecil Gee
{quote} noticed that half of the 80000 contracts on the march call 135 open interests have been closed, might be nearing a good bounce from here on the indexes
huge orders were made in TLT 125/30/35 the areas al ready talked about wont know if there closing or adding until tomorrow, if those position then a stronger bounce than first thought, waiting time
  • #11,879
  • Jan 21, 2016 8:59pm Jan 21, 2016 8:59pm
Quoting The Fool
may take a shot on a BAC bounce....
filled the BAC Feb/Mar $16 call calendar above @ 4c
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,880
  • Jan 21, 2016 11:08pm Jan 21, 2016 11:08pm
Hi Fool, I see you trade quite lots of instruments, equities, etc. Do you attached ETF in your portfolio? You use vertical more often?
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