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Let's Trade Options

  • #14,181
  • Oct 13, 2016 11:05pm Oct 13, 2016 11:05pm
Quoting The Fool
iv increase in IWM will only come about significantly if it is dropping. Selling vertical spreads is a good way to make money, but I just look for better risk to reward. Risking $1,000 to make max $120 doesn't get it.
Yeah right. Too conservative. I've been shopping around for some good trades but nothing got my attention yet. Will spend some time this weekend and will be looking heavily for some good trades into next weeks expiration. Will share if I find anything before Monday's open.
  • #14,182
  • Oct 13, 2016 11:31pm Oct 13, 2016 11:31pm
check the names that hae ER dates coming in the next weeks. Watch the iv's of options on those as they will rise up to the ER date. Then sell iron condors on the ones that have fat iv's - if you are going to sell a call spread you may as well sell a put spread, since you will be charged margin for only one side and the market can't be in two places at once. In other words, one side is guaranteed to end in complete profit. I would still look to get about 0.25 the width of the spreads on each side though (not easy). You still might get your ass handed to you - selling options is risky...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,183
  • Oct 16, 2016 6:32pm Oct 16, 2016 6:32pm
Here are my entries for Monday morning:

All for Friday's expiration:

DDD 13.50 strike call
AKS 4 strike call
C 50.50 strike put
DAL 41 strike put
NUGT 12.50 strike put
JD 26 strike put
FITB 20 strike put
  • #14,184
  • Oct 16, 2016 10:43pm Oct 16, 2016 10:43pm
entering the third year of flatline US equities market - there were a couple good btfd opps, but if you missed those, it's been a waste of time...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,185
  • Oct 17, 2016 12:18pm Oct 17, 2016 12:18pm
Quoting The Fool
entering the third year of flatline US equities market - there were a couple good btfd opps, but if you missed those, it's been a waste of time... {image}
Pretty much the summary from summer of 2013 ...
Hope is dangerous in this game.
  • #14,186
  • Oct 17, 2016 4:23pm Oct 17, 2016 4:23pm
had NFLX Oct/Nov $105 and $110 call calendars, set to catch iv rise into the ER. I closed the $105's for about 50c net gain today b4 the close, let the $10's run, now she blows up 20% to $120+, if it falls back well by Friday I might make money on the $110's, will have to close out anyway....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,187
  • Oct 18, 2016 9:35pm Oct 18, 2016 9:35pm
Quoting The Fool
had NFLX Oct/Nov $105 and $110 call calendars, set to catch iv rise into the ER. I closed the $105's for about 50c net gain today b4 the close, let the $10's run, now she blows up 20% to $120+, if it falls back well by Friday I might make money on the $110's, will have to close out anyway....
actually I cashed out $110's and I'm left with $105's, which are still in small profit and would do OK if NFLX would fall back below $116 by Friday....I would have made out better holding $110's thru the ER but that's 20/20 hindsight...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,188
  • Oct 19, 2016 12:12pm Oct 19, 2016 12:12pm
Quoting The Fool
{quote}actually I cashed out $110's and I'm left with $105's, which are still in small profit and would do OK if NFLX would fall back below $116 by Friday....I would have made out better holding $110's thru the ER but that's 20/20 hindsight... {image}
no luck as NFLX keeps climbing, bailed on the $105's for near b/e.

Sitting on a lot of dry powder.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,189
  • Oct 19, 2016 10:01pm Oct 19, 2016 10:01pm
AMD....meh, been a while since I shot some ER day strangles....20c, a week ago maybe a nickel less, would need about a 80c move (~15%) to b/e.....idk
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,190
  • Oct 19, 2016 11:17pm Oct 19, 2016 11:17pm
AAPL next toosday, after a 20% gain from the last ER maybe it will hit a wall? Better odds on the cheaper verts as compared to the long strangles, because you bring them in closer....a strangle with the same cost would be $109/$126...usually AAPL will give up $5 or more on the ER...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,191
  • Edited 12:56am Oct 20, 2016 12:44am | Edited 12:56am
BWLD, a $20+ mover? ER's 10/26, gotta buy til Nov but that's ok, maybe....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,192
  • Oct 20, 2016 12:55am Oct 20, 2016 12:55am
Quoting The Fool
{quote} Sitting on a lot of dry powder.....

Why don't we head down to Reno for the weekend and try to make a run at them instead of trading these dumb markets....
Look Sharp/Trade Tight
  • #14,193
  • Oct 20, 2016 1:01am Oct 20, 2016 1:01am
Quoting PayTheLimit
Why don't we head down to Reno for the weekend and try to make a run at them instead of trading these dumb markets....
aaah, Reno....Hot August Nights....best lookin hookers this side of Winnemucca....$2 blackjack and keep the watery cawktails comin....stumble out into the heat kickin the peanut shells off my boots...another week's pay gone.....anyway, thank God for the day job....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,194
  • Oct 20, 2016 1:08am Oct 20, 2016 1:08am
Quoting The Fool
{quote}aaah, Reno....Hot August Nights....best lookin hookers this side of Winnemucca....$2 blackjack and keep the watery cawktails comin....stumble out into the heat kickin the peanut shells off my boots...another week's pay gone.....anyway, thank God for the day job....

lol, kind sounds like whatz we doing now, the hookers don't seem as friendly anymore....

speaking of stumbled, stumbled across your 4% a day thread the other night over a few drinks, sitting it the dark....you sure had some gusto back then bro...
Look Sharp/Trade Tight
  • #14,195
  • Oct 20, 2016 1:11am Oct 20, 2016 1:11am
Quoting PayTheLimit
..you sure had some gusto back then bro...
...oh gawd, staying up all night/day trying to scalp for a living'll take it out of you....I'm much better off now. How you doin? Really thinking of hanging it up? How's that kid? All well, I hope....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,196
  • Oct 20, 2016 1:16am Oct 20, 2016 1:16am
I guess I'm surprised GRPN not on the pink sheets....only time it ever sees any volume is ER weeks...when it often near doubles
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,197
  • Oct 20, 2016 1:25am Oct 20, 2016 1:25am
Quoting The Fool
{quote}...oh gawd, staying up all night/day trying to scalp for a living'll take it out of you....I'm much better off now. How you doin? Really thinking of hanging it up? How's that kid? All well, I hope....
The boy is great, he almost two now, keeps me busy. I'm happy to be away from the screen more. Considering my options. Its obvious that the shit is gonna hit the fan in these dumb markets eventually, and I don't want to get burnt. For now, trading small, and only a few times a week, keeps the lights on anyway. I'm looking to see what's out there, maybe even make a return to some of me old markets. Pity they delisted Pork Bellies, they'd where more liquid than cable.
Look Sharp/Trade Tight
  • #14,198
  • Oct 20, 2016 1:36am Oct 20, 2016 1:36am
Quoting PayTheLimit
Pity they delisted Pork Bellies, they'd where more liquid than cable.
bet that was a fun crowd in the pit. Yes it's good to zoom out, literally and emotionally, let's you see the bigger moves that might be brewing. Catching them just right still needs a good dose of luck, though.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,199
  • Oct 20, 2016 1:48am Oct 20, 2016 1:48am
1c 2c calendars, if you can fill em, run right to to the ER, all that needs to happen is the iv's rise a little more or sit still. Take the best one off b4 the ER and let the further one run or take it all....my broker loves me....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,200
  • Oct 20, 2016 10:32am Oct 20, 2016 10:32am
TSLA 10/26
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"If The Fool persists in his Folly he will become wise." - William Blake
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