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Let's Trade Options

  • #12,281
  • Mar 7, 2016 11:47am Mar 7, 2016 11:47am
took a trade a little while ago on GDX $19.50 PUT for 11 March exp at 20c, looking for a pullback in the miners and Gold

GDX was at 20.26 now at 19.99

GDX Mar 2016 19.500 put (GDX160311P00019500)
-OPR
0.20 https://s.yimg.com/lq/i/us/fi/03rd/down_r.gif 0.30(60.00%) 17:24

Market Vectors Gold Miners ETF (GDX)
-NYSEArca
19.99 https://s.yimg.com/lq/i/us/fi/03rd/up_g.gif 0.28(1.42%) 12:47PM GMT - Nasdaq Real Time Price
  • #12,282
  • Mar 7, 2016 11:51am Mar 7, 2016 11:51am
Quoting Cecil Gee
took a trade a little while ago on GDX $19.50 PUT for 11 March exp at 20c, looking for a pullback in the miners and Gold GDX was at 20.26 now at 19.99 GDX Mar 2016 19.500 put (GDX160311P00019500) -OPR 0.20 https://s.yimg.com/lq/i/us/fi/03rd/down_r.gif 0.30(60.00%) 17:24 Market Vectors Gold Miners ETF (GDX) -NYSEArca 19.99 https://s.yimg.com/lq/i/us/fi/03rd/up_g.gif 0.28(1.42%) 12:47PM GMT - Nasdaq Real Time Price
GDX at 20.07 now
  • #12,283
  • Mar 7, 2016 2:01pm Mar 7, 2016 2:01pm
Market is de-FANGed

Attached Image (click to enlarge)
Click to Enlarge Name: FANG.PNG Size: 38 KB


Leading stocks took a nosedive.
Hope is dangerous in this game.
  • #12,284
  • Mar 7, 2016 6:03pm Mar 7, 2016 6:03pm
had a bunch of stuff loaded today, all I filled was UNG Jan'17 $10/$14 calls for 20c
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,285
  • Mar 7, 2016 6:55pm Mar 7, 2016 6:55pm
Quoting The Fool
last spring's high was $3.10 for /NG, concurrently UNG high was $15.28 ----get in cheap and give yourself time, who knows?....dreams do come true sometimes.... https://www.youtube.com/watch?v=PSZxmZmBfnU {image}


That's what I thought ... . $10+ UNG seems like a distant memory.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #12,286
  • Mar 7, 2016 7:09pm Mar 7, 2016 7:09pm
Quoting ZebraSquirl
{quote} With 5 DTE: A "too close for comfort" roll of the CRM naked short 70 to the March 18th 71 for a .55 credit; paired it up with a 62 short put for a .53 credit, so it's a March 18th 62/71 short strangle now. Not sure 71's enough room ... .
Covered my CRM short strangle today for a 1.48 debit. Here's the blow by blow:

2/24 Mar 4th 55/70 short strangle filled for a 1.27 credit
2/25 Covered 55 short put for a .05 debit
2/29 Rolled the Mar 4th 70 short call out to the Mar 18th 71 short call for a .55 credit
2/29 Sold the March 18th 62 short put for a .53 credit (really didn't have to; got a credit for the roll from 70 to 71).
3/7 Bought the March 18th 62/71 short strangle back for a 1.48 debit

Total Credits: 1.27 + .55 +.53 =2.35
Total Debits: .05 + 1.48 = 1.53
Profit: 2.35 - 1.53 = .82 (.74 after fees commissions)/$74 contract

All in all, not a bad earnings season. I didn't do that many with the high vol in the broader market, but I took off all but FB at 50% max. FB, I settled for scratch. BIDU, I'm still in because I got the earnings date incorrect (it's one of those ADR's -- never again), mistakenly closed out that trade on my iPhone at a loss, opened up a new iron condor when I finally did get the announcement date correct, and I'm trying to work that one a little bit more than usual to cover a bit of my iPhone f' up. Yeesh.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #12,287
  • Mar 7, 2016 7:42pm Mar 7, 2016 7:42pm
Quoting The Fool
had a bunch of stuff loaded today, all I filled was UNG Jan'17 $10/$14 calls for 20c
ALSO May/Jul PBR $8 calendar calls for 10c
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,288
  • Mar 8, 2016 2:30am Mar 8, 2016 2:30am
Ben trying to get in some long vol spreads, not filling anything....a possible scenario for near term vol jump is ECB not delivering then Nar FOMC hiking next week, so I have been looking for Mar4 vix product action...will post if I ever fill anything
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,289
  • Mar 8, 2016 12:21pm Mar 8, 2016 12:21pm
still no long vol spread trade fills, maybe I missed the boat.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,290
  • Mar 8, 2016 1:02pm Mar 8, 2016 1:02pm
Sold April 15th RIG 9/14 short strangle for a .93 credit. Ridiculous premium for such a small underlying.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #12,291
  • Mar 8, 2016 1:02pm Mar 8, 2016 1:02pm
Sold SCTY April 15th 13/16 short put vertical for a .75 credit. On the notion that we don't see $16 by expiration ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #12,292
  • Mar 8, 2016 1:05pm Mar 8, 2016 1:05pm
Sold March 18th NDX 4425/4450/4100/4125 iron condor for a 7.01 credit. An engagement trade in this sideways market. I'll rip that puppy's ears off at something approaching 25% max profit and run.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #12,293
  • Mar 8, 2016 1:16pm Mar 8, 2016 1:16pm
Unless you've been living under a rock, it's no surprise where the premium selling's at: China, Brazil, the gold space, the oil/petro/gas space:

Attached Image (click to enlarge)
Click to Enlarge Name: Premium Selling Space.jpg Size: 35 KB


(ASHR, still sucks, btw, so don't bother ... ).
Fireworks are fun ... as long as you don't blow your fingers off.
  • #12,294
  • Mar 8, 2016 1:48pm Mar 8, 2016 1:48pm
Covered my Jan 17 7/April 1st 8.5 USO synthetic long for a small profit (nickels and dimes, really).

My timing was off as to the entry (on the break of the 2009 low at 32.70). Now that we've got some kind of "new low" put in, I'll consider reloading a similar setup on another sub-$30 breakdown.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #12,295
  • Mar 8, 2016 3:05pm Mar 8, 2016 3:05pm
Quoting Cecil Gee
took a trade a little while ago on GDX $19.50 PUT for 11 March exp at 20c, looking for a pullback in the miners and Gold GDX was at 20.26 now at 19.99 GDX Mar 2016 19.500 put (GDX160311P00019500) -OPR 0.20 https://s.yimg.com/lq/i/us/fi/03rd/down_r.gif 0.30(60.00%) 17:24 Market Vectors Gold Miners ETF (GDX) -NYSEArca 19.99 https://s.yimg.com/lq/i/us/fi/03rd/up_g.gif 0.28(1.42%) 12:47PM GMT - Nasdaq Real Time Price
GDX down to $19.42, may extend time or roll, i will see where we are on Thursday and my put is worth 48c

Market Vectors Gold Miners ETF (GDX)
-NYSEArca
19.42 https://s.yimg.com/lq/i/us/fi/03rd/down_r.gif 0.98(4.80%) 21:00
|After Hours: : 19.41 https://s.yimg.com/lq/i/us/fi/03rd/down_r.gif 0.01 (0.05%) 21:01 - Nasdaq Real Time Price
  • #12,296
  • Mar 8, 2016 3:56pm Mar 8, 2016 3:56pm
http://www.bloomberg.com/news/articl...eashed-by-bats

"On Aug. 24, CBOE said trading in the options from which the VIX is derived was temporarily too disjointed to calculate a value."

....messed up everything
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,297
  • Mar 8, 2016 5:20pm Mar 8, 2016 5:20pm
Quoting The Fool
...... was temporarily too disjointed to calculate a value." ....messed up everything
shit, wait til they Brexit....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,298
  • Mar 8, 2016 7:55pm Mar 8, 2016 7:55pm
Quoting The Fool
http://www.bloomberg.com/news/articl...eashed-by-bats "On Aug. 24, CBOE said trading in the options from which the VIX is derived was temporarily too disjointed to calculate a value." ....messed up everything
I wonder if this new BATS product will be any good ... . Why anyone is still calculating options pricing manually in a frenzied pit is beyond me ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #12,299
  • Edited Mar 9, 2016 12:25am Mar 8, 2016 8:45pm | Edited Mar 9, 2016 12:25am
golly!

http://www.thestreet.com/story/13484...o&cm_ven=YAHOO

"FuelCell stock is currently priced at between $6 and $7 per share on the Nasdaq. It has surged some 20% on this news alone. And the stock has increased more than 41% since reaching its January 52-week low of $4.51. FuelCell has a consensus buy rating and an average analyst 12-month price target of $19."

....sounds like a lock - when have roomfuls of stock analysts ever been wrong?

(....watch for a pullback and maybe buy Jan '17 $7 calls for <$2....)
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,300
  • Mar 8, 2016 9:04pm Mar 8, 2016 9:04pm
witness, $40 pop in Feb-Mar 2010.....
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-03-08_1901fcel.png Size: 120 KB
"If The Fool persists in his Folly he will become wise." - William Blake
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