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re: Options Trading Thread
Posted on 9/20/22 at 7:31 pm to LSUtoOmaha
Posted on 9/20/22 at 7:31 pm to LSUtoOmaha
Crack kills! I worked for Charles Schwab Options Department for 7 years. The only entity that made money in the long run was the house - I.e. Charles Schwab. The loser, crack head gamblers eventually lost their arse! Don’t f’ing tell me different, mofo. I lived it. Save your money and buy groceries. Better investment!!!!
2
Posted on 9/20/22 at 7:53 pm to Jag_Warrior
The near strike has moved 17% in my favor so far
Posted on 9/20/22 at 7:54 pm to TigerBogue
Nobody made money in the zero-sum game?
Posted on 9/20/22 at 8:40 pm to LSUtoOmaha
If he’s talking about people who just blindly buy calls (or puts), I wouldn’t necessarily disagree with him. But statistics are statistics. And if you methodically stay with high probability setups over the long term, with lots of occurrences, you are the house.
It’s worked for me for years. And seems like it’s worked for Tom Sosnoff, et al for longer than I’ve been trading. That’s all I know.
It’s worked for me for years. And seems like it’s worked for Tom Sosnoff, et al for longer than I’ve been trading. That’s all I know.
Posted on 9/21/22 at 11:29 am to TigerBogue
quote:
Crack kills! I worked for Charles Schwab Options Department for 7 years. The only entity that made money in the long run was the house - I.e. Charles Schwab.
Let me make a point here. The lower commissions we have now were/are a game changer.
I was with OptionsXpress when they were bought out by Charles Schwab around 2010. The brokerage fees to trade options back then were extremely high. Today, they are a small fraction of what they were in 2010. Commission/fees are so small now that I basically don't even notice them. There is a big difference between now and 2010 IMO. Option trading and beating the market, which is the goal, is very doable.
This post was edited on 9/21/22 at 2:29 pm
Posted on 9/21/22 at 6:29 pm to frogtown
I have a feeling we will have a lot of people rolling down 
Posted on 9/21/22 at 8:53 pm to LSUtoOmaha
My short options book was net green on the day. I've got about 25 positions at the moment. My worst one right now is Ford and that's feeling heat from yesterday's drop. It didn't really go anywhere today.
ADBE short strangle daily P/L was green on both the call and put sides today.
ADBE short strangle daily P/L was green on both the call and put sides today.
Posted on 9/21/22 at 9:37 pm to slacker00
quote:
My worst one right now is Ford and that's feeling heat from yesterday's drop.
I hadn’t used F as an underlying in a long time - years, I think. I certainly picked a wonderful time to sell puts last week, didn’t I?
The IV percentile was a little lower than I wanted, but the IV was good. And it’s in an investment account as a potential div payer, so I’m not too bothered. But still…
Posted on 9/23/22 at 7:37 am to Jag_Warrior
Today will be interesting. Did we get most of the move overnight or is there more blood? I don't know.
For my short option positions set to expire today I'm waiting until the afternoon to make any adjustments. Have a handful of stuff that could go either way.
For my short option positions set to expire today I'm waiting until the afternoon to make any adjustments. Have a handful of stuff that could go either way.
Posted on 9/23/22 at 8:04 am to slacker00
Slacker- are all 25 or so of your options weeklies? I think you mentioned earlier that a month + DTE was much too long for this environment.
Posted on 9/23/22 at 11:25 am to LSUtoOmaha
Most are right now. Obviously many traders use the 45 dte and monthly expirations only guidelines and are successful. A few underlyings I decide to trade only have monthlies or their weekly chains are bad, but I think getting more aggressive on the decay curve has benefited me. I have about 15 expiring today (4 to look at closely later today and decide to take a loss, roll, or assignment), 10 for next week, 5 for Oct 7 and 1 for Oct 21 right now.
You have to stay on top of them though as they can get away from you quickly if you aren't careful.
You have to stay on top of them though as they can get away from you quickly if you aren't careful.
Posted on 9/23/22 at 12:03 pm to slacker00
Got it. That's a lot but if you have the time, all good
Posted on 9/23/22 at 12:38 pm to LSUtoOmaha
I normally don't have to check in but once or twice a day. I don't want to overtrade a position. I would be tempted if I checked in more often. I went ahead and rolled 4 expiring put positions down and out but still for additional small credit. On Monday I'll probably reopen the call side for them and bring in a little bit more, but I'll look premarket to see what things look like.
Even though in a downtrend I still think I have a fighting chance for a dead cat bounce or something when rolling out a week. I can likely get out next week or get down to an even lower strike. When rolling a month, I felt like I was stuck and a little bounce didn't help my position when defending a position.
Even though in a downtrend I still think I have a fighting chance for a dead cat bounce or something when rolling out a week. I can likely get out next week or get down to an even lower strike. When rolling a month, I felt like I was stuck and a little bounce didn't help my position when defending a position.
Posted on 9/26/22 at 12:24 pm to slacker00
I sold the November 18th UVXY 13/14 call spreads for 25 cents a piece. UVXY will get toppy soon enough
Posted on 9/27/22 at 7:39 am to LSUtoOmaha
Seems like a logical trade that should work out for you. I'm not sure I can explain how the VIX has been acting this year though.
Posted on 9/27/22 at 12:09 pm to slacker00
UVXY trades off of volatility futures which can be weird themselves. Definitely trends down over time though
Posted on 9/28/22 at 12:30 am to slacker00
quote:
I'm not sure ANYONE can explain how the VIX has been acting this year though.
Fixed it for you.
Posted on 9/28/22 at 11:19 am to Jag_Warrior
It's a great day to be short UVXY. Already back to $12.02
Posted on 9/28/22 at 5:29 pm to LSUtoOmaha
Nice job with your UVXY.
Green market day was welcome to get the pressure off the put side of the book. Of course there's still a couple days to go but I think my positions for this week's expiration are looking in good shape right now.
Still riding ADBE. Looking for full capture on Friday.
Green market day was welcome to get the pressure off the put side of the book. Of course there's still a couple days to go but I think my positions for this week's expiration are looking in good shape right now.
Still riding ADBE. Looking for full capture on Friday.
Posted on 9/28/22 at 6:02 pm to LSUtoOmaha
It’s fun to get in and get out of though … VIX gets low buy some VIX gets about 30 or
More sell it. Rinse /repeat
More sell it. Rinse /repeat
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