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Let's Trade Options

  • #13,881
  • Jul 13, 2016 2:25pm Jul 13, 2016 2:25pm
DUST just did a 1:10 reverse split on 5/18/2016....but the share price did not change after the split?

https://www.splithistory.com/dust/
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,882
  • Jul 13, 2016 8:09pm Jul 13, 2016 8:09pm
OYUL keep gettin whacked down....could range $45-$50 for aeons......need it to break out though to fuel spoos rally further on up towards 2,200
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,883
  • Edited 12:52pm Jul 14, 2016 10:46am | Edited 12:52pm
out of bullish SPY trades at nice profit, looking to fish a pullback post Jul FOMC....may sell a Aug SPY call spread and trying to fill the Kahuna burger below
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,884
  • Jul 14, 2016 12:46pm Jul 14, 2016 12:46pm
Quoting The Fool
out of bullish SPY trades at nice profit, looking to fish a pullback post Jul FOMC....may sell a Aug SPY call spread and trying to fill the Kahuna burger below
cheaper put fly is Aug 19 $210/205/200 $0.30 & guard with a $199/198 vert
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,885
  • Jul 14, 2016 1:32pm Jul 14, 2016 1:32pm
Quoting The Fool
cheaper put fly is Aug 19 $210/205/200 $0.30 & guard with a $199/198 vert
combo went on for 37c and makes money on anything south of about $211 til Aug opex
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,886
  • Jul 14, 2016 1:33pm Jul 14, 2016 1:33pm
Quoting The Fool
....may sell a Aug SPY call spread
yes, will see if there be more upside tomorrow
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,887
  • Jul 14, 2016 2:38pm Jul 14, 2016 2:38pm
big data, foo

https://datashop.cboe.com/
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,888
  • Jul 14, 2016 2:57pm Jul 14, 2016 2:57pm
Quoting The Fool
cheaper put fly is Aug 19 $210/205/200 $0.30 & guard with a $199/198 vert
I did some more for 34c....OK now just need JY to let the hawk fly lil bit at the Jul FOMC....fat chance, right? idk, 34c defined risk, no loss below $211 +/-, maxP something like $3.00 I think I recall. I will keep doing the upside Big Kahuna, those can go on for a dime or less, the diagonals are risky but low risk if placed well, unless the spoos goes full vertical, I wouldn't rule it out. For a flat-liner I need to sell some call spreads.....weekly Kahunas I look to put on Thurs or Friday, will see.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,889
  • Edited 9:01pm Jul 14, 2016 8:49pm | Edited 9:01pm
http://screencast.com/t/A3jcrbMfT

THE screencast shows the Big Kahuna P/L from today til 8/19 expiry. Badass as Hell. Ima rock a Big Kahuna every chance I get.
Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,890
  • Jul 15, 2016 12:49am Jul 15, 2016 12:49am
SVXY....meh....volume just too thin in there to ever give you any cheap trades...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,891
  • Jul 15, 2016 7:10am Jul 15, 2016 7:10am
Tried to fill an SPY Sep 210/205 vertical put last night for 85c, but it just missed. Would have been good R:R if the S&P goes south. I don't have the energy to trade tonight so we'll see what next week brings. Have a good one
You reap what you sow.
  • #13,892
  • Jul 15, 2016 12:49pm Jul 15, 2016 12:49pm
Quoting NorthTrader
Tried to fill an SPY Sep 210/205 vertical put last night for 85c, but it just missed. Would have been good R:R
those wide verts can be good, but you have to be aware of the shape of the P/L curve. I have gotten into the habit of just looking at the 50c and $1 spreads. UVXY sometimes has really good deals in the wide spreads, though, .....I wonder how long before they will have to retire that freak?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,893
  • Jul 15, 2016 1:49pm Jul 15, 2016 1:49pm
one more UVXY lotto shot before the rev/split - Jul 22 $7/$7.50 calls for 11c. Not risking much gelt.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,894
  • Jul 15, 2016 4:25pm Jul 15, 2016 4:25pm
Turkey coup? No problem, stay calm. Every little problem can be solved by Central Banking. Watch the Aug TUR calls for the inevitable buy the dip opportunity.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,895
  • Jul 16, 2016 12:07am Jul 16, 2016 12:07am
Quoting The Fool
big data, foo https://datashop.cboe.com/
Shoot, I don't need to reinvent the wheel....everything I need is in think ondemand, all market data free and available for forward testing any strategy going back to 12/7/2009. Good enough...

https://tickertape.tdameritrade.com/...ondemand-48402
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,896
  • Jul 16, 2016 12:44am Jul 16, 2016 12:44am
SO, how ya gonna trade the UVXY reversion post-rev/split? Using think ondemand, I can go back to the week of the last rev/split (5/20/2015) and try various things. If I had bout atm Dec puts, for instance, I would have paid $14.35 and they would have lost money by Dec expiry...ending at -$3.50
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,897
  • Jul 16, 2016 12:52am Jul 16, 2016 12:52am
...if I had bot atm Jan 17 puts for $24.45 (omg) they would have cleared $7.80 in the last day or so.....not so hot. Back to the drawing board....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,898
  • Jul 16, 2016 1:21am Jul 16, 2016 1:21am
well, lots to look at, but one thing I see is you may need to wait several weeks to let the fotm chains fully populate after the split. Ideally, we get a vol pop post-split, out in August maybe, then you can do something like a Dec 16/Jan 18 calendar, or look at other spreads and combos. Just buying long-dated puts is not likely going to make much $, might even lose money...theta and decreasin iv a double whammy on short vol options.

If you were very well-funded, and could just sell short the shares, if you could find somebody to let you do that, and at what cost?....well, that would be like a license to print money....no wonder theys not giving it away....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,899
  • Jul 16, 2016 1:29am Jul 16, 2016 1:29am
Quoting The Fool
well, lots to look at, .......then you can do something like a Dec 16/Jan 18 calendar, or look at other spreads and combos.....
the wide time spread is a total shot in the dark - well let's assume you can get the direction right, at least. The goal of the calendar is to decrease the cost basis of getting into the Jan '18 puts, but have them be otm @ the Dec '16 expiry. The lower you go, the more likely that will be true, but the lower you go, the less you can net out when UVXY crashes back down.

Hell, if they only split up to $40 +/-, at the rate we're going, they might have to split again when Santa rallies...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,900
  • Jul 16, 2016 1:32am Jul 16, 2016 1:32am
....of course, I already have the answer......just fuckinwitcha....
"If The Fool persists in his Folly he will become wise." - William Blake
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