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  • #461
  • Dec 23, 2016 7:46pm Dec 23, 2016 7:46pm
Back to boring ... .

SPY, IWM, DIA, and QQQ iron condors used to be a bread and butter trade for me, but with heightened IV being so sporadically available (the last good pop was around elections), I just haven't been putting many of these on ... . With a good deal of buying power sitting on the sidelines here, I figured I'd slap one on to keep the theta pile on and decaying ... .

Here, since IV "locally" still sucks hard, I'm going out to the first expiry which will give me something approaching 1.00 credit for a 3-wide, 20 delta setup and that's way out in March: SPY 205/208/234/237 iron condor; Probability of Profit: 59%; Probability of Reaching 50% Max Profit By Expiry: 75%; Max Profit: $94/contract; Max Loss/Buying Power Effect: $206 per contract. Naturally, I hope to not have to wait all the way until March to take profit ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #462
  • Edited 8:18pm Dec 25, 2016 7:33pm | Edited 8:18pm
Merry Christmas, zeebs!

The LiveVol/tradier connection looks pretty good. LiveVol is free at tradier if you do 30 trades ( is that sides?) or 300 contracts per month. I usually will beat that and definitely would if I got on a flat rate deal @ tradier....

https://brokerage.tradier.com/platforms/livevol

http://www.livevol.com/

https://vimeo.com/112932418
"If The Fool persists in his Folly he will become wise." - William Blake
  • #463
  • Dec 26, 2016 1:58pm Dec 26, 2016 1:58pm
Quoting The Fool
Merry Christmas, zeebs! The LiveVol/tradier connection looks pretty good. LiveVol is free at tradier if you do 30 trades ( is that sides?) or 300 contracts per month. I usually will beat that and definitely would if I got on a flat rate deal @ tradier.... https://brokerage.tradier.com/platforms/livevol http://www.livevol.com/ https://vimeo.com/112932418

It's worth at least "putzing" with, I would say ... . Waiting for the TastyWorks roll out, however, to make a decision.

Check out Ben's trade chains on Dough's "Follow" page ... . When I accessed those on Friday (e.g., his buying to cover his EWZ Jan 20th 30 put at 50% max), it was showing his per contract fees at .50/contract (so, a 1.00 round trip). (They won't come up at moment, unfortunately -- "Error 502 Bad Gateway").

I would gladly take .50/contract ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #464
  • Dec 26, 2016 2:00pm Dec 26, 2016 2:00pm
VIX Term Structure Trade: Feb 15th 16/19 short call vert. POP: 91%. Max Profit: $70. Max Loss/Buying Power Effect: $230. BE: 16.70. https://www.tradingview.com/chart/VI...ORT-CALL-VERT/

I'm shooting for a fill at the mid, but I'll need VIX to rise slightly come NY open to get that. VIX option fills can be "pesky."
Fireworks are fun ... as long as you don't blow your fingers off.
  • #465
  • Dec 26, 2016 2:14pm Dec 26, 2016 2:14pm
Quoting ZebraSquirl
{quote} It's worth at least "putzing" with, I would say ... . Waiting for the TastyWorks roll out, however, to make a decision. Check out Ben's trade chains on Dough's "Follow" page ... . When I accessed those on Friday (e.g., his buying to cover his EWZ Jan 20th 30 put at 50% max), it was showing his per contract fees at .50/contract (so, a 1.00 round trip). (They won't come up at moment, unfortunately -- "Error 502 Bad Gateway"). I would gladly take .50/contract ... .
By the same token, telling me that TastyTrade/Dough "insiders" are getting a cut rate over "us little guys," well, that leaves me "slightly miffed", to say the least ... . Practicing the "Trade Small, Trade Often" mantra is costing me three times as much (1.50/contract) as "your guys" (.50) ... . That doesn't sound "revolutionary"; it sounds like the old school hose job ... . Of course, I'm sure Ben's posting those is "all just a big misunderstanding" ... . Lol.

We'll know soon enough with the TastyWorks Jan 3rd roll out ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #466
  • Dec 27, 2016 8:46am Dec 27, 2016 8:46am
Opening: VIX Feb 15th 16/19 short call vert for a .68 credit. The mid was .70; I lowered the fill price to .65 and got filled at .68. Lol.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #467
  • Dec 27, 2016 9:01am Dec 27, 2016 9:01am
Covering: CHK covered calls for a 6.82 db. Small winner, even though price went nowhere. https://www.tradingview.com/chart/CH...-COVERED-CALL/
Fireworks are fun ... as long as you don't blow your fingers off.
  • #468
  • Dec 27, 2016 9:46am Dec 27, 2016 9:46am
Covering: EWZ Jan 13th 29/32.5/32.5/36 iron fly for a 1.71 db; $31/contract net profit after fees/comms. I couldn't get a fill to take off the entire setup for the life of me, so had to leg out, closing the 32.5/32.5 short straddle first; the 29/36 long strangle thereafter ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #469
  • Dec 27, 2016 10:33am Dec 27, 2016 10:33am
Opening: XBI Feb 15th 53/62/62/71 iron fly for a 5.29 credit. Probably won't keep this on until 25% max. Just looking to keep buying power/capital deployed and churning in the near term ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #470
  • Dec 27, 2016 1:25pm Dec 27, 2016 1:25pm
Opening: NVDA Jan 20th 96/101/130/135 iron condor for a 1.09 credit. (High IVR/High IV). Went small, wide, short duration.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #471
  • Dec 30, 2016 6:54pm Dec 30, 2016 6:54pm
Last trade of the year: VIX Feb 15th 17/20 short call vertical for a .66 credit. This is another "Term Structure" trade using the Feb VIX futures contract price as the guide for the short call strike. The Feb contract's currently going for 16.55, so I'm using the nearest strike above that, the 17.

Naturally, my preferred way of working VIX/VIX derivatives is to short on pops. Since a >20 pop is easily contemplated (hey, it happens from time to time), I'm going small and am prepared to roll the spread out in time "as is" to give it additional time to work out ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #472
  • Dec 30, 2016 7:07pm Dec 30, 2016 7:07pm
ahhhh, go ahead and try some long vol.......just one puff......it's not addictive......
"If The Fool persists in his Folly he will become wise." - William Blake
  • #473
  • Jan 1, 2017 3:19pm Jan 1, 2017 3:19pm
this is the deal? OK if you are a small lot trader. Becomes $1.10/contract flat and that is well over what the robberbrokers are charging now. So much for "revolutionary"......
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #474
  • Jan 1, 2017 3:25pm Jan 1, 2017 3:25pm
lets make killing trading options..i hope to learn more from experienced traders and here also contribute my quota towards the development of this thread.
Goal of a successful trader is to make the best trades. Money is secondary
  • #475
  • Jan 1, 2017 3:27pm Jan 1, 2017 3:27pm
"zero comm to close" tips hat to old saw that 80% of options contracts expire worthless - Dough confirmed?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #476
  • Jan 1, 2017 3:48pm Jan 1, 2017 3:48pm
this probably a dump question but let me ask anyway..ZebraSquirl do you trade unusual option activity?
Goal of a successful trader is to make the best trades. Money is secondary
  • #477
  • Jan 1, 2017 3:49pm Jan 1, 2017 3:49pm
Quoting The Fool
"zero comm to close" tips hat to old saw that 80% of options contracts expire worthless - Dough confirmed?
The Dough interface still works (for now), but is still showing the TDA fee sched. For me, $1.10 round trip is an improvement over Dough/TDA rates of $3.00+, so I'm "moderately jizzed." Lol.

For multiple contract playahs, though, the shops that offer tiered fees based on volume/per trade # of contracts, well, it might not be that competitive ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #478
  • Jan 1, 2017 3:54pm Jan 1, 2017 3:54pm
Quoting Forexpinbar
this probably a dump question but let me ask anyway..ZebraSquirl do you trade unusual option activity?
No, I don't. Many of those trades are "opaque" plays. Large volume in a given strike could be "virtually anything": a hedge for an invisible underlying stock position, part of a long-dated diagonal or calendar, part of a spread, etc. Naturally, they could be a "stand alone" play, but my ordinary assumption is otherwise, given the number of things that they could be ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #479
  • Jan 1, 2017 4:03pm Jan 1, 2017 4:03pm
Quoting The Fool
ahhhh, go ahead and try some long vol.......just one puff......it's not addictive......
Lol. I considered a few "Fool 'Flies," but would like to keep things simple as I adapt to ToS. Some of the setups I've got on now look like "spaghetti" in the platform, really, and staring a UVXY butterfly with the way it shows in ToS, well, probs would give me knipschens ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #480
  • Edited 4:51pm Jan 1, 2017 4:06pm | Edited 4:51pm
Quoting ZebraSquirl
{quote} The Dough interface still works (for now), but is still showing the TDA fee sched. For me, $1.10 round trip is an improvement over Dough/TDA rates of $3.00+, so I'm "moderately jizzed." Lol. For multiple contract playahs, though, the shops that offer tiered fees based on volume/per trade # of contracts, well, it might not be that competitive ... .
well $1.20/ rt cuz they tack $0.10 clearing to close ... quibble...but, where do you get $3.00/rt at TDA? I'm paying $9.95 +$0.75/lot there which comes out to $1.50/rt and change on a larger trade.

Anyway, tworks might work out if somebody wants to trade small trade ofen, you'd just have to do the math on your sizing....not looking too good to me yet tho
"If The Fool persists in his Folly he will become wise." - William Blake
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