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re: Options Trading Thread
Posted on 2/6/23 at 9:08 pm to wutangfinancial
Posted on 2/6/23 at 9:08 pm to wutangfinancial
quote:
Buying premium with unlimited risk is a good way to get smoked in the long run.
Buying? You mean going net long on calls or puts? If that’s the case, the risk is capped by the net premium paid. What strategy are you referring to?
This post was edited on 2/6/23 at 9:09 pm
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Posted on 2/6/23 at 9:39 pm to Jag_Warrior
Jag- thoughts on Google put premium? I like the value here at 20x earnings. I have some stock but considering selling some naked puts, maybe 20 delta a few weeks out
Posted on 2/6/23 at 10:25 pm to LSUtoOmaha
Other than during earnings, I don’t usually follow it closely. The March 17 monthly expiration on a 20 delta put would put you right at the 94 strike. Expected/priced range is +/- 9.44. IV is 35.67 and the percentile rank is 32 - so below the median.
Not sure what your cost basis is on your current long shares. But you could have gotten about $1.15 in premium on today’s pricing. So 94 - 1.15 if it dips.
Not sure what your cost basis is on your current long shares. But you could have gotten about $1.15 in premium on today’s pricing. So 94 - 1.15 if it dips.
Posted on 2/7/23 at 1:02 pm to Jag_Warrior
Thanks for the recs gentlemen.
Is that book worth $52? I wonder if the library has it...
Wow, what whiplash today on QQQ options. I played it poorly, but it could have been worse.
Left a lot of money on the table with calls, and switched to puts too early. But thankfully still ahead...
Is that book worth $52? I wonder if the library has it...
Wow, what whiplash today on QQQ options. I played it poorly, but it could have been worse.
Left a lot of money on the table with calls, and switched to puts too early. But thankfully still ahead...
Posted on 2/7/23 at 1:36 pm to bayoubengals88
quote:
what whiplash today
It’s almost amusing to watch. It’s like watching a schizophrenic in a room full of mirrors.
I sold a few call verticals on SPX while Powell was speaking. VIX has backed up and SPX dropped off. So they’ve already dropped by about 60%.
Posted on 2/7/23 at 3:03 pm to Jag_Warrior
Did you cover those call verticals? 
Posted on 2/7/23 at 4:17 pm to LSUtoOmaha
Nah. Even with the rally at the end, theta decay (they expire on 2/9) and the VIX backing down some more kept them in check. I’m still up over 50%. About 4.5 delta on the short calls now.
That was a real decent spike at the end though. I managed to sell some TSLA, AMD and other weekly calls that I’d priced high. And put on a tiny UBER short put trade ahead of their earnings in the morning. PYPL and LYFT will be on deck on Thursday after the close.
That was a real decent spike at the end though.
I managed to sell some TSLA, AMD and other weekly calls that I’d priced high. And put on a tiny UBER short put trade ahead of their earnings in the morning. PYPL and LYFT will be on deck on Thursday after the close. Posted on 2/7/23 at 7:35 pm to Jag_Warrior
I was wrong about QQQ today. I hope I'm not wrong tomorrow and the next... 
This post was edited on 2/7/23 at 7:38 pm
Posted on 2/8/23 at 5:46 pm to bayoubengals88
What was your trade on the Qs?
Posted on 2/9/23 at 11:38 am to Jag_Warrior
Check out UBER. Extended and rsi way overblown. 8 day ema down around 34. Next week 36.5 puts outright and spread some against the 35s for .50. Looking for it to come down some. Small short term trade
Posted on 2/9/23 at 5:29 pm to thatguy777
Yep on UBER. I put on a small short put earnings trade on UBER the other day. Worked out real well (expires tomorrow). Didn’t do LYFT… and really glad that I didn’t. It’s getting hammered in the after hours.
I like your trade structure there and that you waited for the IV to drop off post earnings before going net long. Keep us posted on your trade if you have time. UBER will drop off my radar after my position expires.
I like your trade structure there and that you waited for the IV to drop off post earnings before going net long. Keep us posted on your trade if you have time. UBER will drop off my radar after my position expires.
Posted on 2/10/23 at 11:16 am to Jag_Warrior
MSFT/ATVI deal
Long Aug 18 $80 calls.
Current ask is $6.45. If deal closes by summer there’s about $7.50 of potential in these (offer was $95/sh of ATVI). If it doesn’t, calls likely worthless.
Long Aug 18 $80 calls.
Current ask is $6.45. If deal closes by summer there’s about $7.50 of potential in these (offer was $95/sh of ATVI). If it doesn’t, calls likely worthless.
Posted on 2/10/23 at 3:27 pm to LSUcam7
From WSB
Posted on 2/10/23 at 3:47 pm to LSUcam7
That is incredible
Thought for every one of those you bag, there are 50 they won't show you that expired worthless.
Thought for every one of those you bag, there are 50 they won't show you that expired worthless.
Posted on 2/10/23 at 3:47 pm to LSUtoOmaha
I did not end up selling google puts (thank goodness). But I am down a good bit on my common stock. Maybe I'll regret it but I refuse to sell this company at under 20x earnings.
This post was edited on 2/10/23 at 3:48 pm
Posted on 2/10/23 at 4:01 pm to LSUtoOmaha
I doubt I ever play this ridiculous 0DTE game that seems to have caught on.
Definitely.
Actually I rarely trade options. But the ATVI play is unique for me and paired onto common shares.
quote:
there are 50 they won't show you that expired worthless.
Definitely.
Actually I rarely trade options. But the ATVI play is unique for me and paired onto common shares.
Posted on 2/10/23 at 9:29 pm to Jag_Warrior
Closed the puts today. Still holding the long put spreads will prob close those before cpi tues. Up 97.5% on this one currently but small trade, 20 contracts total. Hopefully I will have time to post more going forward. Been a wild couple years, 2 little kids I’m raising
This post was edited on 2/10/23 at 9:30 pm
Posted on 2/11/23 at 10:09 am to thatguy777
That was a very nice trade. Good (timely) call on the technicals. 
Posted on 2/14/23 at 10:35 pm to Jag_Warrior
Is anyone playing the recent earnings trades, or just staying with the tried & true SPX/SPY/QQQ trades?
I have a few smaller weekly trades on META and SBUX (short puts) and a weekly covered call on TSLA that might play out nicely. But mostly I’m still focusing on the short dated SPX syn. strangles. Those these continue to pay consistently, the continued low IV is making me look at other, more profitable strategies. With low IV, debit strategies begin looking more attractive - as Thatguy777’s play showed.
I have a few smaller weekly trades on META and SBUX (short puts) and a weekly covered call on TSLA that might play out nicely. But mostly I’m still focusing on the short dated SPX syn. strangles. Those these continue to pay consistently, the continued low IV is making me look at other, more profitable strategies. With low IV, debit strategies begin looking more attractive - as Thatguy777’s play showed.
Posted on 2/14/23 at 10:48 pm to LSUcam7
quote:
I doubt I ever play this ridiculous 0DTE game that seems to have caught on.
There was a good story about that recent trend on the CNBC site a couple of weeks back. Apparently it’s been giving the market makers fits. I haven’t seen any follow up reports, but I wonder if they’ve adjusted by now?
A gentleman here seems to have done well with it. But I’m not able to watch the market closely enough to get into it. The shortest that I tend to go is 2DTE on SPX. On earnings trades, I usually open the trade on the day of earnings, and usually sell a weekly expiration for that week.
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