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re: Options Trading Thread
Posted on 9/28/22 at 8:15 pm to Shankopotomus
Posted on 9/28/22 at 8:15 pm to Shankopotomus
What are you using to trade VIX?
2
Posted on 9/30/22 at 11:37 am to LSUtoOmaha
Not sure if I like Friday expirations better as profits are realized and buying power goes up, or putting trades on and collecting credits on the front end. 
F still giving me issues, so this morning I rolled F puts out and down another week rather than take assignment today. I think everything else should be fine unless the market gets crazy. I have AAPL put at 139 strike that could get sporty if we continue down this afternoon. I would roll that one down and out for more credit being this close to expiration.
F still giving me issues, so this morning I rolled F puts out and down another week rather than take assignment today. I think everything else should be fine unless the market gets crazy. I have AAPL put at 139 strike that could get sporty if we continue down this afternoon. I would roll that one down and out for more credit being this close to expiration.
Posted on 9/30/22 at 1:16 pm to slacker00
Apple's chart looks fricked tbh. I'll probably need to roll
Posted on 9/30/22 at 2:17 pm to slacker00
quote:
I have AAPL put at 139 strike that could get sporty if we continue down this afternoon. I would roll that one down and out for more credit being this close to expiration.
What’s your expiration?
Posted on 9/30/22 at 2:34 pm to Jag_Warrior
It was today. I opened 175/139 on 9/19. I just closed the put side out a little bit ago and will decide if I want to enter a new one next week or not. Looked like it would probably pin 140 but I can spare 0.15 not to risk it and start over with fresh strikes.
Posted on 9/30/22 at 2:57 pm to slacker00
I was expecting it to hold 140 as well. Good move. It’s getting ugly going into the close.
Posted on 10/5/22 at 10:07 pm to Jag_Warrior
Course, we had no way of knowing that it would spike back to 147 within 3 trading days.
Here’s a question for those who occasionally go net long on options before earnings. I know that I tend to sell in the days leading up to earnings to catch the vol spike and to let the price get somewhat established. I’ll assume that a net long would want to do the opposite and avoid the vol spike as much as possible. Right? Wrong? Just depends?
So how far back do you tend to go during earnings season with net longs (could be straight options or multi-leg spread positions)???
Here’s a question for those who occasionally go net long on options before earnings. I know that I tend to sell in the days leading up to earnings to catch the vol spike and to let the price get somewhat established. I’ll assume that a net long would want to do the opposite and avoid the vol spike as much as possible. Right? Wrong? Just depends?
So how far back do you tend to go during earnings season with net longs (could be straight options or multi-leg spread positions)???
Posted on 10/5/22 at 10:23 pm to Jag_Warrior
If already holding a long call going into earnings and the stock runs up I would typically cut part of the position and sell calls against what I leave on.
You could also sell calls against your position and buy some additional long calls at a higher strike to create an unbalanced butterfly
General market comment: NYSI has started to turn up. MACD is turning positive as well. Let’s see how the next few days shake out but we could get another multi week bear rally here. Last Thursday NAAIM was 12.6, that’s one of the lowest readings I’ve seen. Interested to see what it is tomorrow. Of course all this could breakdown Friday with jobs report. We are still in an overall bear trend
You could also sell calls against your position and buy some additional long calls at a higher strike to create an unbalanced butterfly
General market comment: NYSI has started to turn up. MACD is turning positive as well. Let’s see how the next few days shake out but we could get another multi week bear rally here. Last Thursday NAAIM was 12.6, that’s one of the lowest readings I’ve seen. Interested to see what it is tomorrow. Of course all this could breakdown Friday with jobs report. We are still in an overall bear trend
Posted on 10/5/22 at 10:58 pm to thatguy777
Knowing that earnings are approaching, when do you typically look to establish those longs (calls or puts)?
BTW… interesting trading strategies there. Creating a “poor man’s covered call” after the fact and the butterfly.
BTW… interesting trading strategies there. Creating a “poor man’s covered call” after the fact and the butterfly.
Posted on 10/6/22 at 8:29 am to Jag_Warrior
Euan Sinclair has a brief blurb about Pre Announcement Drift in his book Positional Option Trading. "My preference is for a 50 delta/20 delta, 1-month call spread." He's buying longs in this case.
It's not something I trade specifically. I like to sell after the earnings announcement if we got an oversized move.
It's not something I trade specifically. I like to sell after the earnings announcement if we got an oversized move.
Posted on 10/6/22 at 2:27 pm to slacker00
So about 30 days pre, he’s buying ATM and selling the 20 delta on that debit spread. Did he mention where he typically looks to close, before time decay sets in? Or is he looking to close once the IV spike hits in the day or two pre-earnings?
Thanks. That’s useful info.
Thanks. That’s useful info.
Posted on 10/6/22 at 3:41 pm to Jag_Warrior
I would guess he is buying a week or 2 prior and exiting just before the announcement. Unfortunately I am gone from the house and won't be back until next weekend to look at the book.
Might be something on the net as there are studies on this type of thing. I highly recommend him if you can handle the deeply technical side of things. He's got 3 books. This one and "option trading" are a little easier to read. His volatility trading book is like reading a math textbook.
Might be something on the net as there are studies on this type of thing. I highly recommend him if you can handle the deeply technical side of things. He's got 3 books. This one and "option trading" are a little easier to read. His volatility trading book is like reading a math textbook.
Posted on 10/6/22 at 4:04 pm to LSUtoOmaha
VIXY
Posted on 10/13/22 at 8:13 pm to LSUtoOmaha
Sold into today’s rally as it progressed: SPX Nov30 4040/4065 and 4060/4090 SCVs.
Posted on 10/13/22 at 8:15 pm to slacker00
quote:
Euan Sinclair has a brief blurb about Pre Announcement Drift in his book Positional Option Trading.
Thanks. I’ll check that out.
Posted on 10/25/22 at 1:40 pm to Jag_Warrior
OK fellows, who is or has been playing during earnings season?
Right now I have 29 open positions (yes, my brain is getting overheated!) and roughly half are earnings related plays. Among the ones for this week’s expiration are RTX 86 short puts and GOOG 93 short puts.
Oddest position I have is a basket of TWTR 55 covered calls that expire on 10/28. Hopefully Senor Musk writes that check on Friday and I’ll be relieved of this dog with fleas that’s been in my trading account for almost a year!
Right now I have 29 open positions (yes, my brain is getting overheated!) and roughly half are earnings related plays. Among the ones for this week’s expiration are RTX 86 short puts and GOOG 93 short puts.
Oddest position I have is a basket of TWTR 55 covered calls that expire on 10/28. Hopefully Senor Musk writes that check on Friday and I’ll be relieved of this dog with fleas that’s been in my trading account for almost a year!
This post was edited on 10/25/22 at 1:55 pm
Posted on 10/25/22 at 3:48 pm to Jag_Warrior
Wow what a strike for those calls on Twitter 
I have three positions on. Two are UVXY shorts at various strikes and dates (volatility and vol futures FINALLY started to slide some with this recent SPX rally) along with short apple put spreads that expire this week.
I have three positions on. Two are UVXY shorts at various strikes and dates (volatility and vol futures FINALLY started to slide some with this recent SPX rally) along with short apple put spreads that expire this week.
Posted on 10/25/22 at 9:39 pm to LSUtoOmaha
This will be the first time that I’ve ever had a stock bought out while I’ve had a covered call position on it. The only risk has been that Musk would keep monkeying around and not complete the deal. And if some greater fool had stepped in and offered more than 55, I’d have been ecstatic to let this turkey be called away.
Based on what I’ve read about the certainty of this deal closing by 10/28, there’s a (slight) temptation to sell a small basket of 47 or 47.5 puts expiring on 11/4. Course, knowing Musk… I might end up being the greater fool.
Based on what I’ve read about the certainty of this deal closing by 10/28, there’s a (slight) temptation to sell a small basket of 47 or 47.5 puts expiring on 11/4. Course, knowing Musk… I might end up being the greater fool.
Posted on 10/26/22 at 8:01 am to LSUtoOmaha
Bought EQT 1/20/23 $50c at the low of $125 yesterday
i think it will hit $50 again by that time, but who knows what midterms will do
i think it will hit $50 again by that time, but who knows what midterms will do
This post was edited on 10/26/22 at 8:02 am
Posted on 10/26/22 at 8:33 am to Jag_Warrior
I would not touch puts with that
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