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re: Options Trading Thread
Posted on 9/16/22 at 7:51 pm to LSUtoOmaha
Posted on 9/16/22 at 7:51 pm to LSUtoOmaha
Not sure this thread is helpful unless ppl talk about selections, strategy, and/or how they end up managing the trade. Otherwise it is just a list of random trades.
Here's a trade I made this morning as an example:
At market open: STO ADBE 9/30/22 260P $1.50
I start with a chart and look for support levels that I can be around. Then I head over to the option chain and see if the premium in the option chain matches up with where I want to be. I do a lot of short strangles but with a sharp drop like this one, I'm only selling the put side to start. May add the call later. I like 1-2 weeks out depending on the underlying and the premium. Chart shows COVID lows were about 255 as an obvious support level. No good structure anywhere else so I went for the 9/30 expiration and grabbed the 260 strike to get a decent premium. I'd prefer to be below the support but opted for the next higher strike as the strikes are 10 points apart on this expiration. I'll adjust to get below that level if I have to defend the position as time goes by. Mid price was .90 at market close, so off to a good start so far.
Here's a trade I made this morning as an example:
At market open: STO ADBE 9/30/22 260P $1.50
I start with a chart and look for support levels that I can be around. Then I head over to the option chain and see if the premium in the option chain matches up with where I want to be. I do a lot of short strangles but with a sharp drop like this one, I'm only selling the put side to start. May add the call later. I like 1-2 weeks out depending on the underlying and the premium. Chart shows COVID lows were about 255 as an obvious support level. No good structure anywhere else so I went for the 9/30 expiration and grabbed the 260 strike to get a decent premium. I'd prefer to be below the support but opted for the next higher strike as the strikes are 10 points apart on this expiration. I'll adjust to get below that level if I have to defend the position as time goes by. Mid price was .90 at market close, so off to a good start so far.
3
Posted on 9/16/22 at 8:04 pm to slacker00
That’s probably why these threads don’t last. I’ve got way too much going on in life to do write ups of the entire trade. But for the ppl that already regularly trade options it could be nice to see other peoples thoughts.
Posted on 9/16/22 at 8:11 pm to slacker00
As for that ADBE trade the r/r just isn’t there for me. I’m a 3 day rules guy and Thats an enormous amount of risk to collect $150 bucks? If it’s only one contract. I know you can trade around that to minimize risk but that’s just not my style
Posted on 9/20/22 at 8:07 am to slacker00
the strat
I use the strat to daytrade SPY reversals, mainly on the 15, 30, and hour timeframes.
Love the simplicity of the strat. Pure price action no unnecessary complexity that indicators can bring.
Anyone looking to learn a pretty simple method of technical analysis I'd definitely recommend checking out the strat.
I use the strat to daytrade SPY reversals, mainly on the 15, 30, and hour timeframes.
Love the simplicity of the strat. Pure price action no unnecessary complexity that indicators can bring.
Anyone looking to learn a pretty simple method of technical analysis I'd definitely recommend checking out the strat.
This post was edited on 9/20/22 at 8:10 am
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