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Let's Trade Options

  • #14,101
  • Edited 7:19pm Sep 6, 2016 7:06pm | Edited 7:19pm
Quoting The Fool
VIX $13.5/$13.0 9/7 puts cost me 15c
closed this today for 35c, 20c out less comms woohoo
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,102
  • Sep 6, 2016 7:16pm Sep 6, 2016 7:16pm
Quoting The Fool
..and equities will bounce. I bought some SPX 9/6-9/7 2185 call calendars for 75c....(a 1-day calendar )......this a sharpshooter exercise. I already have SPX put spreads set up for Sep FOMC week.....
IN FOR 75c out @ $2.10......maybe breaks me even on the loser SPX put spreads I was also in....say la vee.....I am getting ever closer to dead flat, just a few long vol spreads set up for the FOMC week +1 opp. which has to be long shot now....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,103
  • Sep 6, 2016 7:42pm Sep 6, 2016 7:42pm
http://finance.yahoo.com/news/someth...192739998.html

Those who can, do (trade); those who can't become "chief strategists".....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,104
  • Sep 6, 2016 8:13pm Sep 6, 2016 8:13pm
Next on my list for Wednesday:

Debit spread on RTN (Raytheon)
Buy 13 Nov $140 calls for $4.50
Sell 13 Nov $150 calls for $0.74

If projected share price of $147.55 before expiration, ROI would be 100% if RTN rises 4.5% in the next 11.5 weeks.
  • #14,105
  • Sep 7, 2016 2:55am Sep 7, 2016 2:55am
no selling, no rate hike in Sept, spoos should continue to grind up. I am shopping 9/23 - 9/28 SPX calendars at 2100.....hedging w/ cheap UVXY call verts in the 9/23 week if I can fill em
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,106
  • Sep 7, 2016 9:37pm Sep 7, 2016 9:37pm
People on the internet say the epic flatness of the markets has to stop being so flat someday
Attached Image (click to enlarge)
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,107
  • Sep 8, 2016 11:40am Sep 8, 2016 11:40am
filled the fly above for 20c - any kind of vol jump makes it pay
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,108
  • Sep 9, 2016 10:00am Sep 9, 2016 10:00am
every day now in the press, articles and talking heads saying the CB's are crazy, the bond market crazy, everything crazy. The problem? Too much money. What we gonna do with all this money? So crazy. A cash bubble? wtf is that? Idk.....crazy times.

I had a Sep 9 SPY $216/214/212 put fly - in for 18c now out for 42c.

I have been buying long vol spreads - mostly UVXY some VXX calls @ FOMC week +1 and beyond.

If everything is overvalued, obviously we need a correction....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,109
  • Sep 9, 2016 1:16pm Sep 9, 2016 1:16pm
Quoting The Fool
I had a Sep 9 SPY $216/214/212 put fly - in for 18c now out for 42c. ....
damn....I took that off too early, when spoos had dropped ~20 to SPY low $215.xx, now it low $214, I might've got a near perfect finish, prolly left another 30c + on the table
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,110
  • Sep 9, 2016 6:46pm Sep 9, 2016 6:46pm
spx 2-day put calendarss....set up pre/post Sep FOMC.....if the sell off has legs I will take one off next week for some profits....if SPX freezes up around 2,100 in the week b4, that'll be nicer.

The smaller the time spread, the smaller the potential profit (i.e., you pay for more time) --- but, as I have done here, you can spread them out to take advantage of low cost, giving better chances to hit something
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,111
  • Edited Sep 10, 2016 2:26am Sep 9, 2016 9:32pm | Edited Sep 10, 2016 2:26am
you can do lil 2-day calendars with SPY, now that it has Wednesday weeklies. The advantage is the options are ~10x cheaper than SPX, so you can fine tune the numbers of options in your trades; the disadvantage of course is the increased comms hit for the additional numbers.

idk why, but one of my brokers won't let me trade index options in my IRA account, while another one will
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,112
  • Edited 11:07pm Sep 9, 2016 9:41pm | Edited 11:07pm
if you catch a trending move, maybe one or two of your sets come of on the front leg expiry, and you let the balance run as long puts.

Another advantage of the SPY options, given their cheapness - in a trending market you can leg in easier....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,113
  • Sep 12, 2016 11:50am Sep 12, 2016 11:50am
Quoting The Fool
spx ....if the sell off has legs
btfd....what else?....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,114
  • Sep 13, 2016 11:12am Sep 13, 2016 11:12am
Quoting The Fool
spx 2-day put calendarss....set up pre/post Sep FOMC.....if the sell off has legs I will take one off next week for some profits....if SPX freezes up around 2,100 in the week b4, that'll be nicer. The smaller the time spread, the smaller the potential profit (i.e., you pay for more time) --- but, as I have done here, you can spread them out to take advantage of low cost, giving better chances to hit something
I took the 2013 calendar off for $3.25, almost a $2 net out, will let the lower 2 ride into FOMC week.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,115
  • Sep 16, 2016 2:32pm Sep 16, 2016 2:32pm
trying to fill SPX 2165 calendar calls, 9/23 / 9/26 - @ $1.40.....for the post FOMC bounce
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,116
  • Edited 4:55pm Sep 16, 2016 2:35pm | Edited 4:55pm
Quoting The Fool
{quote} I took the 2013 calendar off for $3.25, almost a $2 net out, will let the lower 2 ride into FOMC week.
if I get a slide down spoos 2,110 next Mon-Tues, I will take the fat 2,110 SPX 9/21-9/23 puts calendar off and the whole triple calendar will be in profit, with the 2,090 remaining for the free ride, if any...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,117
  • Sep 16, 2016 6:33pm Sep 16, 2016 6:33pm
https://www.yahoo.com/finance/news/w...182653764.html

"Interestingly, the options market does not appear to be giving these companies credit for a potential rise in rates. That's where the opportunity comes in."

gosh, I wonder why?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,118
  • Sep 17, 2016 12:38am Sep 17, 2016 12:38am
strangle BAC for a decent move after FOMC - BAC popped >10% in July FOMC aftermath...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,119
  • Sep 17, 2016 12:52am Sep 17, 2016 12:52am
more time maybe better, maybe another name - XLF a logical choice....maybe it would be better to wait til Wednesday to enter
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,120
  • Sep 18, 2016 10:24am Sep 18, 2016 10:24am
Great thread The Fool..I have been trading options for a while now but short expiration options and it hasnt been profitable in the long run because trading short expiration options is like gambling to me..I have decided to trader long expirations options like 30days expiry or even more but I havent found a reliable broker that offers several instruments for long term expiries.I see you have a broker that you trade with but you never mentioned the name..I will be very glad if you can recommend a trusted broker to trade stocks with long term expiries.Thank you for starting this thread.
Goal of a successful trader is to make the best trades. Money is secondary
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