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Let's Trade Options

  • #12,741
  • Apr 22, 2016 3:06pm Apr 22, 2016 3:06pm
...also filled UVXY Jun $24/25 bull calls for 11c, set gtc out for 82c
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,742
  • Apr 22, 2016 3:23pm Apr 22, 2016 3:23pm
Quoting The Fool
sold my SVXY $50/60/70 Jun call flys - in for $1.25 out for $2.95, need the cash for more more more
still breaking UVXY flys while options are cheap, dreaming of a 6-fig Summer
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,743
  • Apr 22, 2016 8:58pm Apr 22, 2016 8:58pm
Quoting The Fool
loaded the Sep VXX $25/30/35 for 10c - a 20-lot debits $270 and has a maxP of $9,800....
10c likely bottom dollah, I might go 12c in the coming week
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,744
  • Apr 22, 2016 9:36pm Apr 22, 2016 9:36pm
sell in May, go away? OK. But Ima keep bangin the Brexit drum....Brexit vote is 6/23, Jun opex is 6/17, and Qtrly options exp is 6/30.......6/17 to 6/30 sandwiches Brexit nicely, makes for some good opps in calendars and diagonals.....Q puts sandwich at $100:
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,745
  • Apr 22, 2016 10:21pm Apr 22, 2016 10:21pm
Quoting The Fool
...Q puts sandwich at $100:
IWM $100 sandwich will cost ya a few cents less, SPY if you want to spend 20c-25c you'll have to go $180 puts, which will b/e around $193...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,746
  • Apr 23, 2016 8:45am Apr 23, 2016 8:45am
Quoting The Fool
{quote}10c likely bottom dollah, I might go 12c in the coming week
Somewhat fortunately, I got distracted and looked away for "a sec" ... . A good thing, since VXX dropped back to $16 before I pulled the trigger on an additional setup or two. Hope it hangs in low going into next week, so I can slap on a couple more. Looks like we now have a VXX July to play with now (not sure we had one last week, but I may not have noticed ... ).

May throw on some June/July short put credit spreads/naked short puts with the short strike at 15 or below ... :

Current pricing for various setups:

June 12/15 1.05 (11 no bid)
July 11/14 .90 (10 no bid)
Sep 9/13 1.04
Dec 8/12 1.10

While that Dec setup looks tempting, got that whole contango thing working against you, and it's an awfully long time to wait for your candy if you don't get a sufficient pop to take that off at 50% max. Would be nice to have an August ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #12,747
  • Apr 24, 2016 3:48am Apr 24, 2016 3:48am
no, no, ...it's "Sell in May, go away. Sell in May, go away....." etc
Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,748
  • Edited 4:12am Apr 24, 2016 3:55am | Edited 4:12am
"I don't have any recollection of that at all." ....... Nicholson, f'n awesome.....
Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,749
  • Apr 24, 2016 4:31am Apr 24, 2016 4:31am
if you fail in your duty to sell in May, you may be "corrected"....like Jack
http://static.businessinsider.com/im...b86d/image.jpg
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,750
  • Apr 24, 2016 8:17pm Apr 24, 2016 8:17pm
AAPL weekly puts are cheap, I might take a shot on a drop after earnings
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,751
  • Apr 25, 2016 4:43pm Apr 25, 2016 4:43pm
zzzzzzz another sideways day in the neverending sideways market.......one expects as much pre-FOMC. I will be putting on bullish equity trades - diagonals mostly - in anticipation of a dovish FED (WHAT ELSE?) and bull run continuation into May....sell in May go away be damned....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,752
  • Apr 25, 2016 6:47pm Apr 25, 2016 6:47pm
Quoting The Fool
zzzzzzz another sideways day in the neverending sideways market.......one expects as much pre-FOMC. I will be putting on bullish equity trades - diagonals mostly - in anticipation of a dovish FED (WHAT ELSE?) and bull run continuation into May....sell in May go away be damned....
Ugh. I hate wasting my day watching the market go ... wtf ... absolutely nowhere. Lol. I'm loaded as full as I dare, so looking forward to some awesome hand sitting here ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #12,753
  • Apr 26, 2016 12:29am Apr 26, 2016 12:29am
Quoting The Fool
AAPL weekly puts are cheap, I might take a shot on a drop after earnings
Missed filling vert puts....still want some ER AAPL, maybe can fill a DC, as shown. I have a feeling AAPL will give or take 10% for the week. A reversal of the last week's slide then a dovish FOMC gets >$115, inverse of all that gets <$95.....P/L model shown has a 5 pt iv drop applied at expiry....iv is not that high on the weeklies.....long shot is AAPL starts to trend but stays inside the short opts & I let the long legs run into next week....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,754
  • Apr 26, 2016 12:59am Apr 26, 2016 12:59am
oops I had me weeks wrong in the DC above, corrected here
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,755
  • Apr 26, 2016 11:27am Apr 26, 2016 11:27am
filled the AAPL DC above, but had to skip out a week to fill the $95 puts calendar for 12c....so I am in the DC for 21c + comms.....a touch asymmetrical but just to equalize the debit either side, so a pop to $115 and a pin there by Friday will be the best for me.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,756
  • Apr 26, 2016 11:29am Apr 26, 2016 11:29am
Quoting The Fool
sell in May, go away? OK. But Ima keep bangin the Brexit drum....Brexit vote is 6/23, Jun opex is 6/17, and Qtrly options exp is 6/30.......6/17 to 6/30 sandwiches Brexit nicely, makes for some good opps in calendars and diagonals.....Q puts sandwich at $100:
still watching the big names for these late June setups.....perhaps a dovish Fed will pave the way for a bull run in May....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,757
  • Apr 26, 2016 4:25pm Apr 26, 2016 4:25pm
Quoting The Fool
filled the AAPL DC above, but had to skip out a week to fill the $95 puts calendar for 12c....so I am in the DC for 21c + comms.....a touch asymmetrical but just to equalize the debit either side, so a pop to $115 and a pin there by Friday will be the best for me.....
woohoo, AAPL drops to low $96 - too bad I was cheap and pushed out a week on the puts calendar, cuz now it'll fml settle right on the sweet spot @ $95......
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,758
  • Apr 27, 2016 2:46am Apr 27, 2016 2:46am
CB's running the show....markets are a joke....punch or redrum....yawn....
Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,759
  • Apr 27, 2016 2:26pm Apr 27, 2016 2:26pm
dovish FOMC, now dovish BoJ on tap, dove songs all around, equities should break out & we should see last Summer's highs tested in the next 1-2 weeks. Shitty earnings? Who cares? Just pass the punch...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,760
  • Apr 27, 2016 10:41pm Apr 27, 2016 10:41pm
BoJ rescues the bears for a day....I thot about putting on a FXY strangle ahead of this announcement, but passed....dragon down 350 in short order....../ES red 10+, we'll see if that holds for a while...
"If The Fool persists in his Folly he will become wise." - William Blake
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