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re: Options Trading Thread
Posted on 12/8/23 at 11:02 am to LSUtoOmaha
Posted on 12/8/23 at 11:02 am to LSUtoOmaha
Did well on a few earnings calls this week, namely AVGO call credit spreads, MDB put credit spreads and GTLB put credit spreads. All near strikes were like .13 delta or lower, so no real sweats.
I've opened up some positions for the next few weeks as well, namely NVDA call credit spreads, BITO call credit spreads, USO call credit spreads, and TSLA short puts. I have enjoyed fading these funds that track futures because, when they are in contango, their is a drag on performance that has to be overcome.
I've opened up some positions for the next few weeks as well, namely NVDA call credit spreads, BITO call credit spreads, USO call credit spreads, and TSLA short puts. I have enjoyed fading these funds that track futures because, when they are in contango, their is a drag on performance that has to be overcome.
This post was edited on 12/8/23 at 11:03 am
1
Posted on 12/8/23 at 5:01 pm to LSUtoOmaha
quote:
Congrats on the CRWD and USO.
Came back to the well again for another taste of USO short puts (66 strike 12/8 this time). Only today’s price action saved them from going ITM. But I was OK with taking some shares at 66 if need be.
Other than that, just doing the same old bread & margarine trades: 0-1DTE SPX short verticals and synthetic strangles. With the VIX now barely hanging onto a 12 handle, I’m trading smaller size though.
Posted on 12/8/23 at 5:04 pm to LSUtoOmaha
quote:
Did well on a few earnings calls this week, namely AVGO call credit spreads, MDB put credit spreads and GTLB put credit spreads. All near strikes were like .13 delta or lower, so no real sweats.
I've opened up some positions for the next few weeks as well, namely NVDA call credit spreads, BITO call credit spreads, USO call credit spreads, and TSLA short puts. I have enjoyed fading these funds that track futures because, when they are in contango, their is a drag on performance that has to be overcome.
Keep us posted. This all sounds interesting. How wide are you generally making your protective wings?
Posted on 12/8/23 at 8:06 pm to Jag_Warrior
22/26 on BITO, 75/85 on USO. I like to go until liquidity gets dicey. Synthetic kind of naked I suppose you could say
Posted on 12/8/23 at 8:28 pm to LSUtoOmaha
Sorry, 26/36. So $10 wide
Posted on 12/12/23 at 8:20 am to LSUtoOmaha
quote:
75/85 on USO
That’s a ticker that I follow and trade periodically - it’s been good to me thus far. I like that SCV trade structure. What expiration did you go with?
Posted on 12/12/23 at 9:00 am to Jag_Warrior
Awesome. I went with the January 19th (was around 45 DTE when placed). Paid out 45 cents per contract so 5% Return on Capital or so.
I saw you like to sell puts on USO sometimes. That would worry me a little given how these futures funds have to roll.
I saw you like to sell puts on USO sometimes. That would worry me a little given how these futures funds have to roll.
Posted on 12/12/23 at 9:51 am to LSUtoOmaha
That one sounds promising since oil continues to look technically and fundamentally weak through your expiration date.
Yes, I tend to go with weekly low delta short puts or strangles on USO. I’ve done a few jade lizards on USO in the past, but moved toward straight strangles to increase POP (marginally higher risk, but only marginal since my protective wings tend to be quite wide anyway).
Yes, I tend to go with weekly low delta short puts or strangles on USO. I’ve done a few jade lizards on USO in the past, but moved toward straight strangles to increase POP (marginally higher risk, but only marginal since my protective wings tend to be quite wide anyway).
Posted on 12/14/23 at 1:59 pm to Jag_Warrior
The VIX is hanging onto a 12 handle like a (tired) cat hanging onto a tree limb. Briefly touched 11.84 earlier in today’s session. Standing at 12.48 now.
Have to go with higher deltas (more risk) in order to carve out some decent premiums in short SPX options strategies - but at this level, my rule is to lessen the amount of capital deployed.
If we settle into the 11 range, I’ll likely begin looking at some smallish and cheap debit trades. Anyone else leaning that way?
Have to go with higher deltas (more risk) in order to carve out some decent premiums in short SPX options strategies - but at this level, my rule is to lessen the amount of capital deployed.
If we settle into the 11 range, I’ll likely begin looking at some smallish and cheap debit trades. Anyone else leaning that way?
Posted on 12/14/23 at 7:45 pm to Jag_Warrior
I have done the exact same thing last two weeks, switched to fewer contracts at ~15-20 deltas on SPX and making debit trades on spy, qqq plus amd, gtlb
Posted on 12/15/23 at 8:17 am to LSUTIGERS74
quote:
making debit trades on spy, qqq plus amd, gtlb
I believe that deserves a ca-ching!
Great timing.
Posted on 12/21/23 at 9:07 am to Jag_Warrior
I’m hoping that my fellow “options bros” avoided the VWAP air pocket yesterday.
As I’m winding down for 2023, I happened to be on the sidelines, having lunch, when a friend texted me about the sudden sell off. Once I got a handle on the reason(s), when I got back to my trading rig, I did launch a large lot of far OTM 1DTE SPX put spreads. With the expected bounce this morning, they’ve already turned to dust. So it’s nice to have some icing on the 2023 cupcake.
But just popped in to wish all you guys well. Hoping that all your stockings will be filled with crisp $100 bills.
As I’m winding down for 2023, I happened to be on the sidelines, having lunch, when a friend texted me about the sudden sell off. Once I got a handle on the reason(s), when I got back to my trading rig, I did launch a large lot of far OTM 1DTE SPX put spreads. With the expected bounce this morning, they’ve already turned to dust. So it’s nice to have some icing on the 2023 cupcake.
But just popped in to wish all you guys well. Hoping that all your stockings will be filled with crisp $100 bills.
Posted on 12/21/23 at 11:17 am to Jag_Warrior
Fortunately I did avoid. Hope UVXY can continue its run-up so we can finally sell call spreads on it.
Posted on 12/21/23 at 4:30 pm to LSUtoOmaha
Luckily avoided, as well, as was out on west coast field visit and didn't have a chance to enter trades or else I would have definitely gotten caught in the mess.
Posted on 12/29/23 at 7:46 pm to LSUTIGERS74
Short some put spreads 50 days out. Includes MDB, TSLA. Near deltas around 10
Posted on 12/29/23 at 8:30 pm to LSUtoOmaha
Will check those out in New Year, thanks! I took an IC on SQ Feb24 today but mostly have played SPX and NDX 0DTE this week at around .15 deltas, decent week with the tighter ranges
Posted on 1/1/24 at 4:46 pm to LSUTIGERS74
Happy New Year to you fellows. May all of your short options turn to dust on expiration day.
Posted on 1/1/24 at 8:55 pm to Jag_Warrior
I am almost always on the credit side and never buy options, but I have a strong conviction the markets are going to rip this year so I’m considering buying calls. I normally trade QQQ, SPY, IWM so will likely start researching there. Any thoughts on other ETFs to look at? LEAPS or maybe shorter terms?
Posted on 1/2/24 at 9:12 am to Azazello
With volatility still relatively low, I wouldn’t disagree with having some portion of an options trading account in net debit strategies. I’m currently looking at the mechanics behind the ZEBRA (zero extrinsic back ratio) strategy.
I’d say that you have a good mix of equity ETFs there. Depending on what your indicators are telling you, maybe some precious metals or oil/energy ETFs?
I’d say that you have a good mix of equity ETFs there. Depending on what your indicators are telling you, maybe some precious metals or oil/energy ETFs?
Posted on 1/4/24 at 2:49 pm to Jag_Warrior
At least in my trading/business account, I’m now sticking with index options exclusively. With having much better tax treatment and being able to go with my preferred 0-1DTE trades, these just work better. In my investment accounts, I will mix in equity underlyings with some index spread plays - especially during earnings season.
The year has started off very well and I’m hoping the same is true for my fellow options bros (we’ll make that moniker a “thing” for the new year).
The year has started off very well and I’m hoping the same is true for my fellow options bros (we’ll make that moniker a “thing” for the new year
).
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