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re: Options Trading Thread
Posted on 4/24/23 at 10:11 pm to Jag_Warrior
Posted on 4/24/23 at 10:11 pm to Jag_Warrior
The IV and IV percentile of the companies you mentioned (V, MSFT, GOOGL etc) seem to be on the low side. They are all great companies so selling puts isn't a bad idea, but I'm actually just buying Google common stock, because I think the odds are stacked in my favor at this valuation level.
This post was edited on 4/24/23 at 10:12 pm
2
Posted on 4/25/23 at 10:49 am to LSUtoOmaha
GIS debit put spread
I think it's likely to top out since earnings
IV is low
So I bought a 5/19 $90/87.5 debit put spread
Thoughts?
I think it's likely to top out since earnings
quote:
Following its earnings release, 33 days ago, GIS stock has drifted +8.7% higher. From the time it announced earnings, GIS traded in a range between 81.60 and 88.88.
IV is low
So I bought a 5/19 $90/87.5 debit put spread
Thoughts?
This post was edited on 4/25/23 at 10:57 am
Posted on 4/25/23 at 12:03 pm to LSUtoOmaha
Yep, still suffering from low IV on several companies that I’d feel comfortable opening positions on. Just because I didn’t mind having a small long stock position in it, I sold a 3 lot of puts on GM yesterday. I’ll probably sell a small lot of puts (possibly a jade lizard) on GOOG and maybe MSFT today. You’re correct that the IV isn’t bad, but it’s far from good. We’re still in a no man’s land.
I am glad to see the 9% spike in the VIX today. I should be able to get more meaningful premium on 1DTE SPX ICs now.
I am glad to see the 9% spike in the VIX today. I should be able to get more meaningful premium on 1DTE SPX ICs now.
Posted on 4/25/23 at 12:56 pm to Jag_Warrior
VIX just spiked up again to +15%. Premiums on SPX option contracts are starting to get (more) attractive.
Posted on 4/25/23 at 3:37 pm to Jag_Warrior
Sold a 4/28 put spread on MSFT just a bit too early today. Only got .90 for it.
But looks like I’ll be collecting all of it after great earnings!
But looks like I’ll be collecting all of it after great earnings!
This post was edited on 4/25/23 at 3:43 pm
Posted on 4/25/23 at 5:54 pm to bayoubengals88
Good one! 
What strike did you have?
Yeah, MSFT is rocking in the after hours. The put side of the jade lizards I sold look great. The short call side (302.50)… not so much.
Instead of doing it as a constructed trade, I tried to leg into jade lizards on GOOG. No matter how many times I tried to adjust the price, the call spread side would not execute - even with bids that were higher than my order! I did this with 10 minutes to go and the market was just too frantic, I suppose. If something hadn’t executed today, I kinda wish it had been the call spread side on the MSFT jade lizards.
What strike did you have? Yeah, MSFT is rocking in the after hours. The put side of the jade lizards I sold look great. The short call side (302.50)… not so much.
Instead of doing it as a constructed trade, I tried to leg into jade lizards on GOOG. No matter how many times I tried to adjust the price, the call spread side would not execute - even with bids that were higher than my order! I did this with 10 minutes to go and the market was just too frantic, I suppose. If something hadn’t executed today, I kinda wish it had been the call spread side on the MSFT jade lizards.
Posted on 4/25/23 at 7:27 pm to Jag_Warrior
275/272.5
Sold to open at .90 and close was 1.18 so it wasn’t looking great to say the least.
Sold to open at .90 and close was 1.18 so it wasn’t looking great to say the least.
Posted on 4/25/23 at 7:49 pm to bayoubengals88
Wow, pretty much at the money. You were super bullish on MSFT. Good call. 
Don’t worry about where the position closed. There’s always some pricing foolishness in the final minutes before the close on earnings day. You did very well on that trade. Wait til you see how hard & fast it drops when the vol gets sucked out of it tomorrow.
Don’t worry about where the position closed. There’s always some pricing foolishness in the final minutes before the close on earnings day. You did very well on that trade. Wait til you see how hard & fast it drops when the vol gets sucked out of it tomorrow.
Posted on 4/25/23 at 8:36 pm to bayoubengals88
Nice trade. Great job!
Posted on 4/26/23 at 5:36 am to Jag_Warrior
I’m hoping not to give it back.
I’ve got similar plays with XOM, SCHW, F, and AUPH from 5/12 to 6/6.
Collected insane premium on AUPH 5/19 CCs again yesterday. $55 per contract for a 40% move. I can’t imagine buying that call…
Considering a 5/5 put spread on AAPL.
Edit:Weird, there doesn’t seem to be much liquidity.
I’ve got similar plays with XOM, SCHW, F, and AUPH from 5/12 to 6/6.
Collected insane premium on AUPH 5/19 CCs again yesterday. $55 per contract for a 40% move. I can’t imagine buying that call…
Considering a 5/5 put spread on AAPL.
Edit:Weird, there doesn’t seem to be much liquidity.
This post was edited on 4/26/23 at 5:40 am
Posted on 4/26/23 at 12:02 pm to bayoubengals88
What put strikes are you looking at on AAPL for 5/5? Unless you’re looking at really low deltas, I’m seeing good liquidity and tight spreads.
Posted on 4/26/23 at 12:42 pm to Jag_Warrior
5/5 has no strikes above $150 on Robinhood. This seems to be a problem, and one of the reasons I might move money elsewhere.
Please disregard the low liquidity comment. It must have had to do with the time of day I was looking.
Please disregard the low liquidity comment. It must have had to do with the time of day I was looking.
Posted on 4/26/23 at 12:49 pm to Jag_Warrior
META is on deck after the close. Currently trading around 211. It’s at 54.34% IV and 43% IV percentile. Expected move for the 4/28 expiration is +/- 19.24. I’m looking at naked puts at the 4/28 185 strike - about 13.5 delta.
Also due to report after the bell is ROKU. I’m looking at 46 strike naked puts for 4/28 - about 10.3 delta (I’d rather not own this one). Currently trading around 57.66. The IV is 88.76% and IV percentile is 43%. Expected move is +/- 7.89.
I have large lots of SPX ICs expiring today and Friday. Everything there looks very safe, but with these earnings plays in motion, I have to be mindful of how much capital might get deployed if I get assigned on short puts (or have to cover those short calls on MSFT).
Also due to report after the bell is ROKU. I’m looking at 46 strike naked puts for 4/28 - about 10.3 delta (I’d rather not own this one). Currently trading around 57.66. The IV is 88.76% and IV percentile is 43%. Expected move is +/- 7.89.
I have large lots of SPX ICs expiring today and Friday. Everything there looks very safe, but with these earnings plays in motion, I have to be mindful of how much capital might get deployed if I get assigned on short puts (or have to cover those short calls on MSFT).
Posted on 4/26/23 at 12:54 pm to bayoubengals88
quote:
5/5 has no strikes above $150 on Robinhood. This seems to be a problem, and one of the reasons I might move money elsewhere.
There’s something goofy with their quote system. For 5/5 from 115 up, I can see active bid/ask quotes for AAPL puts.
We gotta get you on Think or Swim or TastyTrade.
Posted on 4/26/23 at 1:14 pm to Jag_Warrior
quote:No kidding...
We gotta get you on Think or Swim or TastyTrade.
What about Option Alpha? Is that different in the sense that you've got to pay for the platform?
I'm playing ROKU earnings btw.
This post was edited on 4/26/23 at 1:18 pm
Posted on 4/26/23 at 3:31 pm to bayoubengals88
quote:
I'm playing ROKU earnings btw.
4/28 $55/53 Puts
sold for .76 so breakeven of 54.24
Trading really choppy in AH post earnings, but thankfully +1.66% or 57.50 as I type this.
This post was edited on 4/26/23 at 3:34 pm
Posted on 4/26/23 at 4:25 pm to bayoubengals88
quote:
What about Option Alpha? Is that different in the sense that you've got to pay for the platform?
I don’t think that Kirk/Option Alpha has a brokerage service, unless he’s added that recently. He has the auto trading bots, but I think you still have to have an account somewhere else. Think or Swim is just TD Ameritrade’s (soon to be Schwab’s) trading platform. TastyTrade also offers full brokerage services - at least as good as ToS, if not better when dealing with options. If Schwab doesn’t get the Think or Swim transition exactly right, I’ll switch my trading account to Tasty.
You’ve put on some high deltas on your directional plays. But you’ve got your risk capped and you’ve made some very good calls!
Posted on 4/26/23 at 4:47 pm to Jag_Warrior
quote:Yes you're right about this. For some reason I thought in addition to all the "stuff" it was a brokerage too.
I don’t think that Kirk/Option Alpha has a brokerage service, unless he’s added that recently. He has the auto trading bots, but I think you still have to have an account somewhere else.
quote:Only two more 4/28s to go, V and AAPL. I might close one or both tomorrow though.
You’ve put on some high deltas on your directional plays. But you’ve got your risk capped and you’ve made some very good calls!
I tried to open several more today, but no bids met my ask. SBUX, UBER, WBA, and KO.
This post was edited on 4/26/23 at 4:55 pm
Posted on 4/26/23 at 8:47 pm to bayoubengals88
quote:
Only two more 4/28s to go,
Taking a pass on AMZN?
Not to tempt anyone, but IV is 47.85% and IV percentile is 44%. +/- 7.36 is the expected range.
Posted on 4/26/23 at 9:28 pm to Jag_Warrior
quote:I’m not well versed enough in volatility plays yet.
Taking a pass on AMZN?
I hope to learn ICs next, but still have to get down credit spreads a bit better.
It’s not second nature yet.
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