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re: Options Trading Thread
Posted on 6/10/23 at 4:19 pm to Jag_Warrior
Posted on 6/10/23 at 4:19 pm to Jag_Warrior
Oh yeah!
Tom, Jermal, JJ, and 2 CBOE reps were there an hour before and an hour after to take pics, answer questions, etc etc.
Great event!
I’ll be going to the Tasty/CME Show in Austin, in August, that will focus mostly on futures.
Tom, Jermal, JJ, and 2 CBOE reps were there an hour before and an hour after to take pics, answer questions, etc etc.
Great event!
I’ll be going to the Tasty/CME Show in Austin, in August, that will focus mostly on futures.
1
Posted on 6/10/23 at 9:53 pm to Jag_Warrior
quote:
Only thing to say about your long TSLA calls: you killed it! Congrats.
Thanks!
I held one of those $230 calls I paid $1.70 for. Sold it yest mrng for $21!
Wish I had held them all but it was a gamble so I only held one thinking MMs would crush options since it would be a Friday.
This post was edited on 6/10/23 at 9:54 pm
Posted on 6/11/23 at 8:48 am to LSUAngelHere1
quote:
Wish I had held them all but it was a gamble
You made the smart move. Good job.
Posted on 6/11/23 at 8:51 am to Brobocop
quote:
I’ll be going to the Tasty/CME Show in Austin, in August, that will focus mostly on futures.
I need to look at the Tasty schedule to see which one I can make this year. I have a Money Show event scheduled for October. I believe SMB Capital and their head options trader, Seth Freuberg, will be there.
Posted on 6/12/23 at 11:40 am to LSUtoOmaha
quote:
What I've been doing in this account.
1. Long SPY with ~90% of account.
2. Sell weekly (usually) put spreads in individual equities I generally like and am fine owning longer term.
3. Keep short leg around 10 delta (anywhere from 8 to 15 typically) and long leg as far out as there is liquidity (say, 2 or 3 most commonly).
4. I've only been assigned one long position so far out of 10 trades, and I was able to sell the next day for a small profit. But, when assigned, I sell the SPY quantity necessary to fully fund the position.
5. I'll get more aggressive once I'm more comfortable. Goal is to beat the SPY over the long run.
Some stats since I started this:
Put Spreads Opened: 16
Expired Worthless: 9
Assigned via Short Leg: 1
Still Open: 6
Total Risked: 16,850
ROI on Risked Amount: 4.02%
Notes: Closed the Assigned Position for 2% gain the next day
Risked= spread width minus premium
Short leg I've been able to keep between 7 and 14 delta
Not getting rich yet but it's methodical
This post was edited on 6/12/23 at 11:54 am
Posted on 6/12/23 at 4:45 pm to LSUtoOmaha
I like how you’re working that strategy and staying methodical. 
Posted on 6/14/23 at 12:26 am to Jag_Warrior
I may have to roll a few calls this week to a higher strike price. $.10 away on my intel $34 strike and my TQQQ is $1.42 over my $38 strike.
I'm way up in both stocks. May let the Intel expire and Sell a put to get back in.
TQQQ..... Roll
I'm way up in both stocks. May let the Intel expire and Sell a put to get back in.
TQQQ..... Roll
Posted on 6/14/23 at 9:54 am to Jjdoc
Roll when it makes sense. Close when it doesn’t. You’re playing directionals and right now, that makes sense (depending on which direction you choose, of course). Trying to stay delta neutral (on entry) isn’t lasting long on multi-leg, short term trades anyway.
The current strength in the S&P is mind blowing and has wrecked my daily indicators. The low VIX doesn’t help the situation either. So the risk/reward is now severely out of whack on short dated SPX short trades. I’m looking at some speculative long option trades on VIX… maybe a “poor man’s covered call”. Small trades, but IV is so low, the probabilities are decent.
The current strength in the S&P is mind blowing and has wrecked my daily indicators. The low VIX doesn’t help the situation either. So the risk/reward is now severely out of whack on short dated SPX short trades. I’m looking at some speculative long option trades on VIX… maybe a “poor man’s covered call”. Small trades, but IV is so low, the probabilities are decent.
Posted on 6/14/23 at 10:06 am to Jag_Warrior
Might get a VIX spike after Powell speaks today
Posted on 6/14/23 at 12:09 pm to LSUtoOmaha
Yes, there was a decent spike going into the CPI report. The market (S&P) seems to be holding its breath right now. VIX is down about 1.4%, but there could be some drama in about an hour.
Posted on 6/14/23 at 4:12 pm to Jag_Warrior
I enjoyed that (brief) pop in the VIX. Couldn’t resist the temptation so I unloaded some SCVs on the S&P on the way up and then as it slipped, unloaded some SPVs. I’d like to thank Mr. Powell for delivering a nuthin’ burger and the SPX finishing flat. 
Needed a fat win after Higgins set Zeus and Apollo on me the other week. 
Needed a fat win after Higgins set Zeus and Apollo on me the other week. Posted on 6/16/23 at 8:17 am to Jag_Warrior
quote:
Roll when it makes sense.
Oh yeah.
quote:
maybe a “poor man’s covered call”. Small trades, but IV is so low, the probabilities are decent.
One of my favorite strategies. I opened several cheap ones on sub $10 stocks and have made decent $$. The 2 I did was CHPT and NIO.
I will most likely let those go today and next week.
Posted on 6/20/23 at 9:38 pm to Jag_Warrior
Just an update on My BABA puts. I sold puts on the $83 strike and ended up purchasing those. Made the premium.
Then Turned around and sold calls on the $91 strike. Made the premium and let it go at $91. I love the Wheel!
Selling puts this week that expire next Friday. The $83 strike. Premium is at $56 per right now.
Then Turned around and sold calls on the $91 strike. Made the premium and let it go at $91. I love the Wheel!
Selling puts this week that expire next Friday. The $83 strike. Premium is at $56 per right now.
This post was edited on 6/20/23 at 9:40 pm
Posted on 6/21/23 at 7:42 pm to Jjdoc
Bought 10 ORCL 7/21 $120Ps for $1.70 on Tuesday’s opening spike. Already up $500. Also bought SOXS and SQQQ 8/18 calls.
Posted on 6/22/23 at 12:10 pm to BourbonDad
I may have asked this before, but on your option long plays are you selecting your strikes based on deltas and/or technicals?
With the continuing low IV (
), I haven’t put on any 45DTE short plays on SPX lately. Just doing larger size 0-1DTE low delta (“safe”) trades for now to generate weekly income.
With the continuing low IV (
), I haven’t put on any 45DTE short plays on SPX lately. Just doing larger size 0-1DTE low delta (“safe”) trades for now to generate weekly income. Posted on 6/22/23 at 2:03 pm to Jag_Warrior
quote:
With the continuing low IV ( ), I haven’t put on any 45DTE short plays on SPX lately.
Truth. I'm still rolling/carrying my April/May positions forward. The big move up in SPX/QQQ put me ITM on quite a few positions. So far, rolling for small credits has been possible, but I'm past ready to get rid of these positions.....
Posted on 6/22/23 at 6:15 pm to dragginass
Yeah, that last sudden rally was something. Combined with the low vol, we’re getting minimum wage selling options these days.
*Hopefully* tomorrow I’ll unload some PYPL shares that got put to me after I got assigned shares awhile back. I’ve sold enough calls to make a decent profit on it, but I’d now like my capital back! No such hope for the DIS shares that have now moved into my spare bedroom. And the covered calls are awfully cheap.
*Hopefully* tomorrow I’ll unload some PYPL shares that got put to me after I got assigned shares awhile back. I’ve sold enough calls to make a decent profit on it, but I’d now like my capital back! No such hope for the DIS shares that have now moved into my spare bedroom. And the covered calls are awfully cheap.
Posted on 6/24/23 at 10:11 am to Jag_Warrior
Do you or anyone else plan on making any long VIX plays? I'm still researching how I want to do it, but I'm wanting to go long VIX/VXX/similar on a longer timeframe.
ETA: research not good, ha. Looks like the drag on holding these products long term is too great.
ETA: research not good, ha. Looks like the drag on holding these products long term is too great.
This post was edited on 6/24/23 at 6:02 pm
Posted on 6/25/23 at 6:47 am to dragginass
quote:
Do you or anyone else plan on making any long VIX plays? I'm still researching how I want to do it, but I'm wanting to go long VIX/VXX/similar on a longer timeframe.
Something different, but you can play IV with a calendar.
Right now I have a calendar on SPY. The only reason I did this trade is because IV is very very low.
STO Jul 21 425 Put. BTO Aug 18 425 Put. I put on this trade when SPY was at 440.
For this trade to work, I need a spike in voliatility and maybe a some direction. Once I get a spike in vol I get out.
This post was edited on 6/25/23 at 6:50 am
Posted on 6/26/23 at 7:43 pm to dragginass
I like Frogtown’s play in this low IV environment. I keep toying with a play on VIX, but haven’t launched one yet. I think that his play probably has better profit potential than a straight long VIX call.
Off a short put, I got tagged with some NVDA on Friday at 425. I was tempted to sell a 6/30 430 call for 6 this morning but the stock looked toppy and I wanted my capital back. So I dumped it for 426 and change and within a bit, watched it collapse to 401 - closed around 406! They say God takes care of babies and fools. I’m too old and big to be a baby, so I thank Him for taking care of this fool today. Also managed to unload the PYPL that I got assigned awhile back. Same story, after selling calls multiple times and having it drop to within cents of being called away several times (came within 4 cents on Friday!), I dumped it today for a decent little profit and got that capital back. Now just need to get those assigned Mickey Mouse shares out of my house.
Off a short put, I got tagged with some NVDA on Friday at 425. I was tempted to sell a 6/30 430 call for 6 this morning but the stock looked toppy and I wanted my capital back. So I dumped it for 426 and change and within a bit, watched it collapse to 401 - closed around 406! They say God takes care of babies and fools. I’m too old and big to be a baby, so I thank Him for taking care of this fool today. Also managed to unload the PYPL that I got assigned awhile back. Same story, after selling calls multiple times and having it drop to within cents of being called away several times (came within 4 cents on Friday!), I dumped it today for a decent little profit and got that capital back. Now just need to get those assigned Mickey Mouse shares out of my house.
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