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re: Options Trading Thread

Posted on 5/3/23 at 8:48 pm to
Posted by Jag_Warrior
Virginia
Member since May 2015
4083 posts
Posted on 5/3/23 at 8:48 pm to
I’ll definitely sell calls against it if I get assigned in my trading account. If I get assigned on the 1 short put I have in my IRA, I may keep that lot.
Posted by LSUtoOmaha
Nashville
Member since Apr 2004
26578 posts
Posted on 5/4/23 at 8:20 am to
Always nice when the IV is still elevated after earnings to do that
Posted by TigerVespamon
Member since Dec 2010
6019 posts
Posted on 5/4/23 at 12:41 pm to
Posted by Jag_Warrior
Virginia
Member since May 2015
4083 posts
Posted on 5/4/23 at 7:39 pm to
quote:

Always nice when the IV is still elevated after earnings to do that


Absolutely. But with that dramatic pop today, looks like we might not have to wheel covered calls after tomorrow.

Today I was able to unload AAPL puts at 160, 157.50 and 155 right at the close. With the volatility, I had trouble getting a 10 lot of SPVs on SPX to execute. Had to fly near the flame to finally get the short puts to sell at 4045 with about an hour to go - made me sweat bullets.
Posted by LSUtoOmaha
Nashville
Member since Apr 2004
26578 posts
Posted on 5/4/23 at 9:40 pm to
Yep that was quite the pop
Posted by BeYou
DFW
Member since Oct 2012
6025 posts
Posted on 5/4/23 at 11:18 pm to
Probably should have held those Uber calls a little longer but that's hindsight. Set a target to get out, hit the target, and not looking back now.

Purchased some RTX June $95 calls.
Posted by bayoubengals88
LA
Member since Sep 2007
18897 posts
Posted on 5/5/23 at 9:50 am to
That’s the only way to do it. Well done.
Posted by bayoubengals88
LA
Member since Sep 2007
18897 posts
Posted on 5/5/23 at 9:53 am to
He Jag, as well as I did last week, I did as bad this week.

SBUX credit spread created a bit of a panic with an early assignment, but my brokerage sold my long position for me. Deep sigh!

AMD sucked. I panicked yesterday morning and bought back my spread at 100% only to see it skyrocket soon after!!!!! UGH

Thankfully I’m up on the week still with AUPH popping a bit.
Posted by Jag_Warrior
Virginia
Member since May 2015
4083 posts
Posted on 5/7/23 at 3:09 pm to
quote:

SBUX credit spread created a bit of a panic with an early assignment, but my brokerage sold my long position for me. Deep sigh!


You had a short put vertical and the put got an early assignment?

quote:

AMD sucked. I panicked yesterday morning and bought back my spread at 100% only to see it skyrocket soon after!!!!! UGH


You too? I think three of us must have had short put strikes in the low 80s. I was expecting an assignment too. But I was content to hold on and wheel out of it with covered calls. That pop was pretty dramatic.

quote:

Thankfully I’m up on the week still with AUPH popping a bit.




No decision yet, but I’m looking at plays on PYPL, EA and DIS (among others) for this coming week. Haven’t had a chance to check out IVs or momentum yet. Still enjoying the sights, sounds (and smells ) of NYC.
Posted by bayoubengals88
LA
Member since Sep 2007
18897 posts
Posted on 5/8/23 at 2:31 pm to
AMD still sucks! I hate it!
Posted by bayoubengals88
LA
Member since Sep 2007
18897 posts
Posted on 5/8/23 at 2:33 pm to
quote:

Brobocop
How are your 0DTE trades going lately?

I'm not sure I understand how you're making so much per trade and how you're exiting so quickly, but I'd love to know more.
Posted by Jag_Warrior
Virginia
Member since May 2015
4083 posts
Posted on 5/8/23 at 2:39 pm to
quote:

AMD still sucks! I hate it!


Once you’ve closed a trade, never look back… except to determine if you violated one of your trading rules going in or coming out.
Posted by bayoubengals88
LA
Member since Sep 2007
18897 posts
Posted on 5/9/23 at 9:45 am to
Anyone have any thoughts on DIS?
Posted by Brobocop
Baton Rouge, LA
Member since Feb 2018
1903 posts
Posted on 5/9/23 at 10:06 am to
This market SUCKS lol.

Give me back my VIX >20
Posted by Jjdoc
Cali
Member since Mar 2016
53442 posts
Posted on 5/9/23 at 10:11 am to
LOL! It's been bad!


But, I'm now in a buying mode. So my choices are AMZN, TSLA, AAPL.....

I will sell options on these.
Posted by Jag_Warrior
Virginia
Member since May 2015
4083 posts
Posted on 5/9/23 at 10:52 am to
quote:

Anyone have any thoughts on DIS?


Looking at either 5/12 naked short puts at the 12+ delta (around the 94 strike now) or maybe a jade lizard with the same short put and the short call vertical at 113/116. Expected move is +/- 6.24. Implied vol. is 38.84 and percentile is 27%, so not a great play right now - we’ll see how the session goes.

Also still looking at EA 5/12 contracts. The IV is 32.11 and percentile is 35%. Expected move is +/- 6.42. For me, I probably wouldn’t go above 10 delta (around 115) on short puts if I play this one.
Posted by Jag_Warrior
Virginia
Member since May 2015
4083 posts
Posted on 5/9/23 at 10:54 am to
quote:

Give me back my VIX >20


I couldn’t agree more. I’m still selling size on SPX contracts, but I feel like it’s only a matter of time before the Doberman wakes up… while I’m waaay away from the escape route.
Posted by LSUtoOmaha
Nashville
Member since Apr 2004
26578 posts
Posted on 5/9/23 at 1:47 pm to
DIS low IV is expected. That EA range is surprising to me
Posted by Jag_Warrior
Virginia
Member since May 2015
4083 posts
Posted on 5/9/23 at 2:41 pm to
Relatively low IV really does make it challenging.

Went with 3x5 jade lizards on DIS: 95p-113/116 SCV.

Hard to get fills on the strikes I wanted. Market makers are holding tight on their spreads on EA. Strangles on EA: 115p/139c
This post was edited on 5/9/23 at 2:42 pm
Posted by bayoubengals88
LA
Member since Sep 2007
18897 posts
Posted on 5/9/23 at 3:06 pm to
I was trying for a wide IC in DIS today. 94-110 if I remember. Couldn’t get a fill.
Will try again tomorrow.
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