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re: Options Trading Thread
Posted on 3/23/23 at 8:07 pm to Jag_Warrior
Posted on 3/23/23 at 8:07 pm to Jag_Warrior
I added more SCHW shares today. Unfortunately I also averaged down on calls this morning too.
I’ve got until 4/21. The IV boost seems to be helping me some, but I really need another run to $60.
2
Posted on 3/23/23 at 8:12 pm to bayoubengals88
Speaking of juiced IV, that’ll be AUPH tomorrow morning after a buyout rumor came out this afternoon.
4/21 $11 and 12s will fetch a nice premium for anyone interested in a trade.
I understand if too risky. IV hit 105% before close on one of the calls I sold.
4/21 $11 and 12s will fetch a nice premium for anyone interested in a trade.
I understand if too risky. IV hit 105% before close on one of the calls I sold.
Posted on 3/23/23 at 9:21 pm to dragginass
quote:
I trade a lot of SPX because it settles to cash and there is no assignment risk.
Same here. Other than earnings trades and a few opportunity trades here & there, SPX trades have become my bread and butter. No assignment risk makes a big difference, also no dividends to be concerned about.
Today was interesting. The total collapse of that strong rally isn’t something you see every day. I had several SPX syn. strangles on at 4305c/3920p. Watching it hit a low for the day of 3919.05 before slowly bouncing back to 3948 at the close wasn’t great for my heart.
But SPX has been very good to me this week, so I’m definitely on the sidelines tomorrow. Just seeing if my AAPL, AMD, EA and maybe TSLA gets called away. Time for them all to move out of the house and be on their own. Posted on 3/23/23 at 9:34 pm to bayoubengals88
quote:
I’ve got until 4/21. The IV boost seems to be helping me some, but I really need another run to $60.
Long shares and calls too? If Yellen would keep her mouth shut, the run to 60 before 4/21 wouldn’t surprise me.
Posted on 3/23/23 at 10:21 pm to dragginass
quote:
Something changed with the tastytrade rules on PDT.
By chance, did you ever use Think or Swim before opening the account with TastyTrade? I know that Sosnoff developed both and both get high marks from active traders. I’m just trying to gauge what the learning curve might be going from one to the other.
I got an email from Tasty with a very attractive bonus offer if I transfer my trading account. But if switching hampers me, then it wouldn’t be worth it. Does that make sense?
Posted on 3/24/23 at 6:21 am to Jag_Warrior
I switched from TOS to tasty in my margin acct. They’re 98% the same, practically no learning curve for me (prob b/c both were designed with the premium seller in mind). I still have my Roth in TOS.
Posted on 3/24/23 at 8:27 am to LSUcam7
quote:
MSFT/ATVI deal
Long Aug 18 $80 calls.
Current ask is $6.45.
British regulator softens stance on Microsoft-Activision deal competition concerns
Posted on 3/24/23 at 9:34 am to Jag_Warrior
Any thoughts on First Republic Bank (FRC). I bought one cash covered put at 4.50 with a nice premium. I took a flyer and and do not think it will go that low to buy but I know it could go to zero. It expires next Friday and know I could lose $450 or keep the premium. It is riskier than I usually trade options but I am not risking much of my portfolio.
Posted on 3/24/23 at 7:29 pm to Rouxdee
quote:
I switched from TOS to tasty in my margin acct. They’re 98% the same, practically no learning curve for me (prob b/c both were designed with the premium seller in mind)
Thanks. I really appreciate that. I think I have until the end of April to make a decision in order to get the transfer bonus. I'll try to download the software this weekend and try it out.
Posted on 3/24/23 at 7:45 pm to Jag_Warrior
I took my own advice and sold 5 CCs on AUPH.
$25 strike price, Jan 2024 expiration.
Stock currently trading at $10.31 up from 8.80s yesterday morning on a buyout rumor.
Low delta of 17.9 delta
Received .35 so collected $175
If the rumor fizzles out then I can probably buy them back for .05 or .10 pretty soon.
Will rinse and repeat if allowed.
$25 strike price, Jan 2024 expiration.
Stock currently trading at $10.31 up from 8.80s yesterday morning on a buyout rumor.
Low delta of 17.9 delta
Received .35 so collected $175
If the rumor fizzles out then I can probably buy them back for .05 or .10 pretty soon.
Will rinse and repeat if allowed.
Posted on 3/24/23 at 7:46 pm to jerryc436
quote:Sounds bold but also sensible. What was the premium?
I bought one cash covered put at 4.50 with a nice premium.
Posted on 3/24/23 at 8:11 pm to bayoubengals88
$34.00. Could have got much more but did not want to go out more than 1 week or risk more than that.
This post was edited on 3/24/23 at 8:12 pm
Posted on 3/24/23 at 8:16 pm to jerryc436
Hey Jerry,
You’ll really enjoy this Reddit thread from the Theta Gang.
This fella got $45 and he’s asking Reddit about his decision. Lots of replies.
You’ll really enjoy this Reddit thread from the Theta Gang.
This fella got $45 and he’s asking Reddit about his decision. Lots of replies.
Posted on 3/24/23 at 8:32 pm to bayoubengals88
Thanks. I read it and know I was risking it all. I did this a few days ago when it was selling between 15 and 16.
This post was edited on 3/24/23 at 8:42 pm
Posted on 3/24/23 at 8:46 pm to jerryc436
Best of luck!
Posted on 3/25/23 at 11:04 am to Jag_Warrior
quote:
Today was interesting. The total collapse of that strong rally isn’t something you see every day. I had several SPX syn. strangles on at 4305c/3920p. Watching it hit a low for the day of 3919.05 before slowly bouncing back to 3948 at the close wasn’t great for my heart.
My short puts that day were at 3945, so I got scared and rolled fwd when it hit 3920. Let the calls expire worthless, and reopened new calls the following day with the rolled puts. Lucky or good I don't care, but it worked out for a profit lol.
I know kirk at OA teaches to only roll for a credit, but faced with a large loss that isn't far ITM, I don't mind paying a bit to roll. In this case the $80 it cost me to roll was partially offset by the calls I opened the next day. Both sides expired worthless, so it was a win. At least, this is my experience so far.....
This post was edited on 3/25/23 at 11:13 am
Posted on 3/25/23 at 12:08 pm to Jag_Warrior
quote:
By chance, did you ever use Think or Swim before opening the account with TastyTrade?
I opened my account in October, so I'm unsure of what I missed. I think their branding was changing, as even then I was confused as to TT and ToS operations. My mobile TT app actually said ToS at first as I recall.
Posted on 3/25/23 at 4:54 pm to dragginass
quote:
I know kirk at OA teaches to only roll for a credit, but faced with a large loss that isn't far ITM, I don't mind paying a bit to roll. In this case the $80 it cost me to roll was partially offset by the calls I opened the next day. Both sides expired worthless, so it was a win. At least, this is my experience so far.....
Yeah, that’s where I differ with Kirk. I had a similar experience last year and did the same thing you did. And the result was about the same: net profit at the end of the trade. One thing to keep in mind is that Kirk sometimes trades SPY, but I’d don’t think he ever trades (or traded back when I listened to his podcast) SPX. And as far as I know he doesn’t even trade weekly contracts. Never understood that.
My thinking is, with these very short dated contracts, your options (pun intended) and time are limited. So you either have to find a suitable roll (without increasing risk, if possible) or you take the loss and move on. I’d only close if I had to meaningfully increase risk or pay a huge debit.
Posted on 3/25/23 at 5:03 pm to dragginass
quote:
I opened my account in October, so I'm unsure of what I missed. I think their branding was changing, as even then I was confused as to TT and ToS operations. My mobile TT app actually said ToS at first as I recall.
Hopefully I’ll have more free time next weekend and I can download the desktop and mobile versions of TT. Then I can see how hard it’s going to be to learn a new platform on short notice. I also have to be sure they can get all my trading approvals and set up my portfolio margin quickly.
Schwab says that ToS will remain unchanged. My TDA guys says I won’t even notice the changeover. But this is largely how I’ll be making much of my income by October. So I can’t afford any screwups. Tasty sounds like Sosnoff’s new & improved version of his old creation.
Posted on 3/27/23 at 8:15 am to jerryc436
quote:
Any thoughts on First Republic Bank (FRC). I bought one cash covered put at 4.50 with a nice premium. I took a flyer and and do not think it will go that low to buy but I know it could go to zero. It expires next Friday and know I could lose $450 or keep the premium.
Lookin' good as of now
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