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re: Options Trading Thread

Posted on 6/7/23 at 3:19 pm to
Posted by LSUcam7
FL
Member since Sep 2016
8451 posts
Posted on 6/7/23 at 3:19 pm to
Long puts on COIN

Any of you writing calls?
Posted by b-rab2
N. Louisiana
Member since Dec 2005
12706 posts
Posted on 6/7/23 at 3:55 pm to
It was either 6/2 or 6/1. The day when the debt deal was sort of done, but not all the way, but you are correct, sir. With the VIX so low, it is getting very hard to make any money.

I am putting on 0DTE SPY IC's at around 9-915 am CST and looking for deltas around .07-.06 and nothing more than .10 for the inside sold calls/puts.
Posted by bayoubengals88
LA
Member since Sep 2007
21247 posts
Posted on 6/7/23 at 4:41 pm to
quote:

I am putting on 0DTE SPY IC's at around 9-915 am CST and looking for deltas around .07-.06 and nothing more than .10 for the inside sold calls/puts.

Sounds like you're risking about $900 to make $100. Is that about right?

Are you closing at 50% profits 7 out of 8 times?
This post was edited on 6/7/23 at 4:45 pm
Posted by b-rab2
N. Louisiana
Member since Dec 2005
12706 posts
Posted on 6/7/23 at 4:45 pm to
That is correct most of the time I’m letting them expire due to the closing costs
Posted by bayoubengals88
LA
Member since Sep 2007
21247 posts
Posted on 6/7/23 at 5:29 pm to
I'll give it a go with SPY starting tomorrow for thirty days, though premium for IWM is likely higher...

Only problem is that Robinhood will automatically close your position on 0 DTEs at 2:30 CST.

So I might be able to aim for 50% profits or I might just try 1 DTEs and close them on the previous day as an alternative strategy.

Will go with roughly 10 delta on the short side and roughly 5 delta on the long, or essentially the next closest dollar amount to minimize risk.

Just started my spreadsheet


What's your daily P/L percentage since you started this?
Posted by bayoubengals88
LA
Member since Sep 2007
21247 posts
Posted on 6/7/23 at 8:42 pm to
Have you heard of Tammy Chambless?
She's got some excellent info on 0 DTE SPX trades in this presentation.

She gets going around 12:30
Posted by bayoubengals88
LA
Member since Sep 2007
21247 posts
Posted on 6/7/23 at 9:13 pm to
Her PDF
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 6/8/23 at 8:03 am to
quote:

Have you heard of Tammy Chambless?


No, that’s a new name to me. I’ll definitely check that out though. Looks interesting. Thanks.
Posted by LSUAngelHere1
Watson
Member since Jan 2018
9495 posts
Posted on 6/8/23 at 8:39 am to
quote:

I followed you on 6/23s for .29

Nice profits so far!
Posted by bayoubengals88
LA
Member since Sep 2007
21247 posts
Posted on 6/8/23 at 9:19 am to
I took 17.24% gains on 8 calls.
It's just what I do If I can do it in just a few minutes
Posted by LSUAngelHere1
Watson
Member since Jan 2018
9495 posts
Posted on 6/8/23 at 11:18 am to
Profit is profit!

If you paid .29 they went up almost 100%
Posted by LSUAngelHere1
Watson
Member since Jan 2018
9495 posts
Posted on 6/8/23 at 11:27 am to
Paid 1.70 for my 230 TSLA calls and sold for $5.20
Posted by bayoubengals88
LA
Member since Sep 2007
21247 posts
Posted on 6/8/23 at 3:34 pm to
Got my feet wet today with 3 SPY ICs.

Did a lot of stupid stuff with it, but ended the day at 50% gains.

Spend $30 and closed in total for $15.

I’ll probably go with four next time and try to collect .48
Posted by bayoubengals88
LA
Member since Sep 2007
21247 posts
Posted on 6/8/23 at 3:43 pm to
Went long puts on F because I think max pain will come into play by mid to late next week.

Bought 6/23s for .30
Posted by frogtown
Member since Aug 2017
5403 posts
Posted on 6/8/23 at 3:46 pm to
quote:

Went long puts on F


What happened to your long diagonal on F? You give up?
Posted by LSUAngelHere1
Watson
Member since Jan 2018
9495 posts
Posted on 6/8/23 at 3:50 pm to
I held one of my TSLA $230 calls. It’s at $245 now! Lord I pray this holds
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 6/10/23 at 8:48 am to
Only thing to say about your long TSLA calls: you killed it! Congrats.
Posted by Brobocop
Baton Rouge, LA
Member since Feb 2018
2004 posts
Posted on 6/10/23 at 8:54 am to
Jag,

Just got my pic with Tom at the Tastytrade Bad Trader tour in Dallas!

I can hang it up now. Life made.
Posted by bayoubengals88
LA
Member since Sep 2007
21247 posts
Posted on 6/10/23 at 10:09 am to
quote:

What happened to your long diagonal on F? You give up?
Gave up long ago. F essentially crashed right after I bought the leap.

I didn’t really know what I was doing back then anyway. Still learning more daily. I’m sure I’ll say I knew nothing now.

But back then, I was using premium collected as if it were my own.
I kept having to go down in price on short term covered calls to collect anything decent at all.

I would like to try again if F gets back to $11
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 6/10/23 at 10:14 am to
Now that is so cool.
I wish I could have made that event. It’s definitely on my list though.

Is there a good question & answer session?
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