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Let's Trade Options

  • #14,741
  • Feb 18, 2017 10:49am Feb 18, 2017 10:49am
flys do not fill at $0.00
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,742
  • Feb 20, 2017 2:29pm Feb 20, 2017 2:29pm
Any IB traders here? Does Interactive Brokers offer commission discounts if you sign up under a referral or an introducing broker? I search a bit online but can't find much.
  • #14,743
  • Feb 20, 2017 3:44pm Feb 20, 2017 3:44pm
Quoting The Fool
There will be a breakdown, something completely unexpected, I'm thinking something totally sci-fi. Markets lulled into near catatonic complacency will implode and the sell-off will be yuuge, that is, until the screens go blank and the atmosphere burns away. I will reach out one skeletal finger to hit send, one more btfd, just one more, omg I could have caught the very bottom, too late...... No matter, in Trader's Heaven there will be volatility out the yinyang, 1,000,000:1 leverage, winners for Eternity....

I might have to agree. Funny thing is it wont happen until everyone thinks that it will never happen(hence the irony). While all the retail shmucks like you and I and everyone are sitting on our dicks waiting for the unexpected bomb to drop, the markets will just keep grinding away going ever higher with hardly any pullback. In fact, that's the very reason there isn't any pullbacks, no one wants to short and everyone is waiting to buy so they chase their tails over and over.

Anyhow, trading is the best mindfuck out there. Anyone who disagrees has never truly immersed themselves in the torture that it entails.
  • #14,744
  • Feb 20, 2017 3:46pm Feb 20, 2017 3:46pm
Quoting fxsafe6
Any IB traders here? Does Interactive Brokers offer commission discounts if you sign up under a referral or an introducing broker? I search a bit online but can't find much.

I use IB

They really don't offer much in the way of anything resembling commission discounts. Fact is, they are the cheapest by miles without offering incentives. But they wont hold your hand and if you screw yourself they will absolutely have no mercy and wont bail you out for rookie mistakes.
  • #14,745
  • Feb 20, 2017 5:56pm Feb 20, 2017 5:56pm
Quoting Wulfgar
Anyhow, trading is the best mindfuck out there. Anyone who disagrees has never truly immersed themselves in the torture that it entails.
As Dirty Harry said, "A man has got to know his limitations." I am much more laid back about trading now than I used to be when I was scalping fx overnight. My shorter tf now days, not minutes. I am not trying to trade for a living and for the most part I am trading money in IRA's, which is just a fraction of the money I am trying to put aside for retirement, the larger balance in RE. I have gotten to the point in trading where I only really ever put any real money in play when there is a BFD to try to trap. These are not always well-advertised and they don't always deliver, but if I get a shot at 1-3 per year, that's fine. My attitude about trading I guess is a product of the epic dullness of the markets the last years. If that changes, maybe I will too. I am trying to stay engaged anyway...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,746
  • Feb 21, 2017 7:30am Feb 21, 2017 7:30am
Quoting The Fool
{quote}As Dirty Harry said, "A man has got to know his limitations." I am much more laid back about trading now than I used to be when I was scalping fx overnight. My shorter tf now days, not minutes. I am not trying to trade for a living and for the most part I am trading money in IRA's, which is just a fraction of the money I am trying to put aside for retirement, the larger balance in RE. I have gotten to the point in trading where I only really ever put any real money in play when there is a BFD to try to trap. These are not always well-advertised...

I hear ya man. Day trading isn't my bag either. Realized I got into trading in order not to spend my entire life at work. That's why I like options and HTF swing trading on the futures markets.

The last 3 years of incessant fed droning, broad market basing, and low volatility have been mind numbing but not impossible to eek out a living.

AXP has hit the radar for a decent opportunity short. Gonna give it a day or 2 to stew up here. If it starts making a top Ill put on a bearish spread and target maybe 70. If I can get some premium I may play it safer though and just try and get .50 or so on a short <30 day call spread.
  • #14,747
  • Feb 21, 2017 8:20am Feb 21, 2017 8:20am
Quoting Wulfgar
AXP has hit the radar for a decent opportunity short.
I have bull call SPY & SPX calendars for tomorrow and those are looking good....might take off the 2360 SPX today as it has gone >$2.00 net. I am not looking to short anything until I see the whites of the eyes of Mr Trumps tax plan. All that might be buy rumor/sell fact, but I will wait for the fax
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,748
  • Feb 21, 2017 10:34am Feb 21, 2017 10:34am
GS popped another ath today, I know big whoop right? ... I had a cheap Big Kahuna on it that died last week, I am left with long $260 calls for this week now - the remainder of a diagonal ... if el Trumpo will bring the noise with phenomanal terrific tax plan this week maybe GS would put on a 5% pop and put my long $260's >$5 itm? dreaming....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,749
  • Feb 21, 2017 12:59pm Feb 21, 2017 12:59pm
http://www.cboe.com/framed/PDFframed...ly+SPX+Options

between SPX 2,360 and SPY $237, I am going to get a good finish tomorrow, it seems.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,750
  • Feb 21, 2017 3:25pm Feb 21, 2017 3:25pm
Quoting The Fool
GS popped another ath today, I know big whoop right? ... I had a cheap Big Kahuna on it that died last week, I am left with long $260 calls for this week now - the remainder of a diagonal ... if el Trumpo will bring the noise with phenomanal terrific tax plan this week maybe GS would put on a 5% pop and put my long $260's >$5 itm? dreaming....

All of this winning going on around here is making my head spin. I'm still holding my entire GS position until we hit $300 before locking anything in. Ive always had a thing for calamari
  • #14,751
  • Feb 21, 2017 3:38pm Feb 21, 2017 3:38pm
Quoting Wulfgar
Ive always had a thing for calamari
I wouldn't bet against em.....8 arms can pull a lot of levers, turn dials, push buttons, & still have some left over to play golf & sip a martini....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,752
  • Feb 21, 2017 5:19pm Feb 21, 2017 5:19pm
Quoting The Fool
{quote} I wouldn't bet against em.....8 arms can pull a lot of levers, turn dials, push buttons, & still have some left over to play golf & sip a martini....

True that. Lookin at Verizon(VZ) to pop yesterdays high and take a tumble. Ill short anything between 50 and 51. I think people are shocked VZ didn't tank when they sold everyone(including me) an exploding phone(which I still have).... But I'm guessing the financial damage they incurred still has yet to be felt and can drop that stock 10%
  • #14,753
  • Feb 21, 2017 7:31pm Feb 21, 2017 7:31pm
Lotto, anyone?

RAD 6 or 7 long calls, March or April. The basis for the trade is here (in a nutshell, WBA Merge and Ack for between $6 and $7/share, depending): https://www.fool.com/investing/2017/...aid-stock.aspx

Threw some spare change at it ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #14,754
  • Feb 21, 2017 7:46pm Feb 21, 2017 7:46pm
MMMMM....this is a good burger, crazy shit will break sooner or later, and I love me some cheap put spreads.....looking at the week before Mar FOMC....

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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,755
  • Edited 8:32pm Feb 21, 2017 7:50pm | Edited 8:32pm
Quoting ZebraSquirl
Lotto, anyone? RAD 6 or 7 long calls, March or April.
....meh, I donwanna chase cheap shit, good luck with it tho. Have you put on any tastyworks trades yet?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,756
  • Feb 21, 2017 8:31pm Feb 21, 2017 8:31pm
w/ GOOGL sitting at $850, the $750 put calendar shown has a 20x maxP, b/e's at $835 @ 10 dte....lots of >$40 weekly sticks in the chart
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,757
  • Feb 22, 2017 6:09am Feb 22, 2017 6:09am
Quoting The Fool
I am not looking to short anything until I see the whites of the eyes of Mr Trumps tax plan. All that might be buy rumor/sell fact, but I will wait for the fax
...still waiting, still think a big chunk of red meat could pop the indices....but any wait can get old. Meanwhile, heavy press of Trump anti-immigrant policies will tend to spook markets. Likely that coverage will come and go, but Trump's revamped "Muslim Ban" executive order is due out this week.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,758
  • Feb 22, 2017 11:03am Feb 22, 2017 11:03am
out of SPX & SPY calendars both for a little better than 2x net. I might have been wise to hold $237 SPY calls for Friday, maybe catch that run.....I often get in this position, where I wanted to set up the long call in a calendar or a diagonal, but then I get a really nice finish on the front end and take everything right there. If I ever put on big enough numbers I suppose I can leave some on....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #14,759
  • Feb 22, 2017 12:21pm Feb 22, 2017 12:21pm
Quoting Wulfgar
{quote} I like the R:R on that. I'm still gonna short every rally. Macro view is so mixed it almost always ends in the commodity deflationary situation I was talking about in like 2013. I'm seein CL back at 36 before we finally turn. USO to 8 before it bases. (Note: Ill delete this post if I'm wrong so I don't look like an asshole) Took a bunch of small losses this week that I closed out today. Big winner was my GRUB strangle and my TSO Feb 80/87.5 Bull call spread that netted a solid 8:1 on the R:R side.... closed most of it but I wanna...

Took a chunk of change to put my money where my mouth is on CL. Got short late last night at the London open at 54 and some change... Stops above 55.40. What the hell, Ill risk 1400 on the road to hell. Pure directional futures trade. Targeting 36. Boom goes the dynamite.

ORCL proved me wrong like so many other tops in every other equity getting blown off the tracks by the Trump Train.
  • #14,760
  • Feb 22, 2017 12:28pm Feb 22, 2017 12:28pm
Quoting Wulfgar
{quote} I was bored until I woke up and saw that AIG shit the bed. I had a bullish spread on that thing and got destroyed #exciting

Got back in AIG today too at the open. Probably a revenge trade... But it passed the smell test after that big fuck you on earnings blew me up the other day. Bought a Jan 18' 60/90 call ratio spread. Low risk and a 5:1 if it goes out that far. Paid $7 per spread. Pretty standard. Stops under 59. Maybe the admin will de-nationalize(is that a word) AIG and let them destroy the economy again
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