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The Options Thread

  • #821
  • May 19, 2017 3:50pm May 19, 2017 3:50pm
Rolling: FXE June 16th 108 long call to the 109 for a .45 credit and selling the June 16th 108/110 for .82. Scratch point on the setup is now 2.66. Generally inadvisable to add to a losing position, but I'm kind of set on my assumption that there will be a June hike or, at the very least, a hawkish tone around FOMC ... . I rack it up to my timing being slightly bad, coupled with some risk off sentiment that found everyone temporarily fleeing the Greenback ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #822
  • May 20, 2017 4:27pm May 20, 2017 4:27pm
The week ahead: https://www.tradingview.com/chart/XO...S-XOP-EWZ-NON/
Fireworks are fun ... as long as you don't blow your fingers off.
  • #823
  • May 20, 2017 5:46pm May 20, 2017 5:46pm
Three neutral to bullish assumption options trades in XOP ahead of OPEC jawboning: https://www.tradingview.com/chart/XO...OF-OPEC-TALKS/
Fireworks are fun ... as long as you don't blow your fingers off.
  • #824
  • May 20, 2017 8:46pm May 20, 2017 8:46pm
Unless you actually farm a product and want some insurance or boost your inside knowledge whats the point of options??

If you are a trader why would you use options?
insurance? Hedging? Seriously? This means you have no idea of the market so you should just not be trading.

insurance costs money just taking away ya profits limiting risk. No point at all
  • #825
  • Edited 11:53am May 21, 2017 6:06am | Edited 11:53am
Quoting WolGod
Unless you actually farm a product and want some insurance or boost your inside knowledge whats the point of options?? If you are a trader why would you use options? insurance? Hedging? Seriously? This means you have no idea of the market so you should just not be trading. insurance costs money just taking away ya profits limiting risk. No point at all
At least learn the basics about options trading before claiming options traders "have no idea of the market".

Google>>> "options trading"

Hundreds of ways to trade options. You don't even need to pick a direction to make money :-)
Example: Short collar on Dec corn (380/400)
Profit of $2,200 if price closes between 3.80 & 4.00 on Nov. 17th. Profits trail off gradually closer to the edges. Anywhere between 3.35 & 4.45 is a profit. Profit can be taken anytime before expiration.

If you buy Dec. futures contract, price must rise to make money.

***Most of Zeebs trades are non-directional. Why pick one direction if you can make money in either direction?
Attached Image (click to enlarge)
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  • #826
  • Edited 6:48pm May 21, 2017 2:11pm | Edited 6:48pm
Quoting srt
{quote} At least learn the basics about options trading before claiming options traders "have no idea of the market". Google>>> "options trading" Hundreds of ways to trade options. You don't even need to pick a direction to make money :-) Example: Short collar on Dec corn (380/400) Profit of $2,200 if price closes between 3.80 & 4.00 on Nov. 17th. Pro fits trail off gradually closer to the edges. Anywhere between 3.35 & 4.45 is a profit. Profit can be taken anytime before expiration. If you buy Dec. futures contract, price must rise to make money....
1. NEVER claimed options traders have no clue. They are the best traders in the world
2. YOU my friend are a RETAIL trader.
3. I claimed RETAIL TRADERS who trade OPTIONS have no idea
4. What the hell does $2,200 mean?????? WHAT IS THE RISK/REWARD RATIO FFS
5. I bet you return here if $2,200 is 50%. That being 50% of your 100% risk meaning .5:1.
HOW LONG DID THAT TAKE? Months?? Then next month you get it wrong and lose 100%. Double what you made. So then after 6 months youve made nothing. Congrats
if you know how to trade should be in the thick of it on spot currency markets. No insurance but rather control the risk IN THE trade. 2:1 pw should be what you make weekly by intraday trading minimum
  • #827
  • May 22, 2017 3:24pm May 22, 2017 3:24pm
Quoting srt
{quote} At least learn the basics about options trading before claiming options traders "have no idea of the market". Google>>> "options trading" Hundreds of ways to trade options. You don't even need to pick a direction to make money :-) Example: Short collar on Dec corn (380/400) Profit of $2,200 if price closes between 3.80 & 4.00 on Nov. 17th. Profits trail off gradually closer to the edges. Anywhere between 3.35 & 4.45 is a profit. Profit can be taken anytime before expiration. If you buy Dec. futures contract, price must rise to make money....
Well, I hope he got that out of his system .... . Lol.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #828
  • May 22, 2017 3:28pm May 22, 2017 3:28pm
Covering: EWZ July 21st 26/28/38.5/40.5 iron condor for a .46 ($46)/contract debit (25% max). When the market gives you 25% in under 5 days with 60 DTE ... . Money, take, run ... .

Covering: IWM June 16th 128/131/2x 141/2x 142 "Double Double" for a .62 ($62)/contract debit (18% max). Small winner to ring the register on this sub-12 VIX IV crush.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #829
  • May 22, 2017 6:59pm May 22, 2017 6:59pm
Quoting ZebraSquirl
{quote} Well, I hope he got that out of his system .... . Lol.
Don't you know "insurance costs money just taking away ya profits"?

Why are you trading options?
  • #830
  • May 28, 2017 8:44pm May 28, 2017 8:44pm
The week ahead: VIX, EWZ, and P trades. https://www.tradingview.com/chart/IEy7Lspq/
Fireworks are fun ... as long as you don't blow your fingers off.
  • #831
  • May 28, 2017 9:09pm May 28, 2017 9:09pm
Quoting srt
{quote} Don't you know "insurance costs money just taking away ya profits"? Why are you trading options?
The ironic thing is that most of these folks simply don't understand that I don't care to know anything about the market the vast majority of the time. Price isn't the signal, generally, for me to take a trade -- implied volatility is. I'm generally not entering a trade at "value points", support/resistance, Fib lines, or any of the subjective stuff that comes into play when making an ordinary price action trade (naturally, there are exceptions to that where I've got a firm directional bias, which is, quite frankly, rare).

I could also care less about a given stock's "value," as that term is commonly understood or metrics that analysts have produced that people use informationally to gauge how much higher a given stock might go. I'm looking at less than two month time frames for these trades and what the stock might do, given the correctness of certain assumptions, is generally just total speculative fiction to me and beyond the time frame I'm willing to devote to these trades.

If you're looking at these trades as short shafting potentially profitable "investments," well, then, you're looking at them totally incorrectly because they are not "investments" at all -- they're trades. When people, for instance, talk disparagingly about the downside of capping out possible upside movement with a short call in a covered call setup, they simply misunderstand that I don't want to be married to a stock based on mere possibility; I want to take my profit and move on. You kids who want to hang out in stock XYZ for months, waiting for the upside profit target unknown analysts of unknown predictive skill have set for you, well, have at it ... . Not my cuppa ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #832
  • May 28, 2017 9:11pm May 28, 2017 9:11pm
Quoting srt
{quote} At least learn the basics about options trading before claiming options traders "have no idea of the market". Google>>> "options trading" Hundreds of ways to trade options. You don't even need to pick a direction to make money :-) Example: Short collar on Dec corn (380/400) Profit of $2,200 if price closes between 3.80 & 4.00 on Nov. 17th. Profits trail off gradually closer to the edges. Anywhere between 3.35 & 4.45 is a profit. Profit can be taken anytime before expiration. If you buy Dec. futures contract, price must rise to make money....
Corn/beans, oil, gold, and currencies are one place where I will commit to a direction ... . Not a bad corn trade, btw.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #833
  • May 29, 2017 12:33pm May 29, 2017 12:33pm
Ugh. Mario Draghi did absolutely nothing for my short Euro/FXE trade ... . Weak sauce ... . "Mario, Mario, Mario ... . I thought we had a thang ... ."
Fireworks are fun ... as long as you don't blow your fingers off.
  • #834
  • May 30, 2017 12:39pm May 30, 2017 12:39pm
Opening: VIX July 21st 10/13/13/16 iron fly for a 1.96 credit. Max loss/BPE: 1.04; BE's at 11.04/14.96. Looking to manage at 25% max.

Opening: P July 21st 6/9/9/12 iron fly for a 1.71 credit. Max loss/BPE: 1.29; BE's at 7.29/10.71. 25% max take profit target.

Covering: SPY June 23rd 231/233/June 21st 243/244 iron condor for a .49 db. Here, just profitably mixing and matching short put spread with short call spread in my June SPY core position to take off risk and lock in profit where possible.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #835
  • Edited 3:58pm May 30, 2017 2:30pm | Edited 3:58pm
Quoting ZebraSquirl
{quote} Corn/beans, oil, gold, and currencies are one place where I will commit to a direction ... . Not a bad corn trade, btw.
Closed a similar trade in pre-market this morning. Think volatility will increase soon with weather becoming important now causing more premium in options. Also, don't like how stubborn the hedge funds have been about holding onto the large short position so think they may want to try breaking it lower before covering.

Entered trade for 51 cent credit.
1st adjustment>> raised call side by 10 cents>>>new credit total = 48 cents.
2nd adjustment>>raised call side by 10 cents>>>new credit total = 46 cents.
Closed trade for 36 cents.
Approx. profit of 10 cents ($500).

***More of a sell-off, might get some OTM call spreads. Pretty cheap now. Turn $250 into $2,500 with a little dry weather this summer. Close @ $125 loss if looking hopeless.

***First crop condition report just out. Lower than expected (70-75% GE). Boxes around largest production states below.
Attached Image
  • #836
  • Jun 2, 2017 2:15pm Jun 2, 2017 2:15pm
Corn:

Volatility early this week didn't do much for Dec. options so..........

Opened short straddle @ 390 for 51.5 cents ($2,575).
Opened call spread @ 450/500 for 5.50 cents ($275). Lottery trade :-)

***Probably won't adjust straddle unless a daily close below 380 or above 400.
***Might add a ratio spread @ no cost on a larger fall in price.
  • #837
  • Jun 4, 2017 5:15pm Jun 4, 2017 5:15pm
Quoting srt
Corn: Volatility early this week didn't do much for Dec. options so.......... Opened short straddle @ 390 for 51.5 cents ($2,575). Opened call spread @ 450/500 for 5.50 cents ($275). Lottery trade :-) ***Probably won't adjust straddle unless a daily close below 380 or above 400. ***Might add a ratio spread @ no cost on a larger fall in price.
I really should be in more beans and corn. I'm in Iowa, and what's the old "adage" ... trade what you know.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #838
  • Jun 4, 2017 5:16pm Jun 4, 2017 5:16pm
The week ahead: https://www.tradingview.com/chart/IW...TY-STRATEGIES/
Fireworks are fun ... as long as you don't blow your fingers off.
  • #839
  • Jun 4, 2017 7:11pm Jun 4, 2017 7:11pm
Quoting ZebraSquirl
{quote} I really should be in more beans and corn. I'm in Iowa, and what's the old "adage" ... trade what you know.
Let me know when that corn starts curling this summer.
Not much corn to see here if florida.
  • #840
  • Jun 5, 2017 6:11pm Jun 5, 2017 6:11pm
Quoting srt
{quote} Let me know when that corn starts curling this summer. Not much corn to see here if florida.
I do know a lot of folks got planting done late ... . The spring was unusually wet. Now it's a total furnace ... .
Fireworks are fun ... as long as you don't blow your fingers off.
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