re: Options Trading Thread

Anyone had any luck getting cumulative delta setup in Think or Swim? Not much info other than it may not exist in the same form as other platforms but is possible.

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That was a nail biter of a last hour for me on NDX SVP's.

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Glad you made it out of that carnage alive.

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Finally found some wins on calls/puts on SPX ODTE scalps today after some losses mon/tues trying to time entry points.

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Good to hear. The pop in the VIX has allowed me to put on more size than I had been, but still staying with lower delta positions to maintain the high win rate. The richer premiums, while staying away from the flame, has been nice. As the market rolled up & down throughout the sessions this week, I laddered into 0 and 1DTE SPX synthetic strangles. My final SPX trade for this week (that I put on late yesterday) is already turning to dust. Other than that, just wheeling the TSLA that I took on last week with calls until it goes away - thank goodness for rich premiums.

Tomorrow I’ll be traveling to Orlando for the MoneyShow investment conference. If any of you are in that area, swing by and maybe we can meet up.

Have you all seen the recent study on YouTube that TastyLive posted about Zero DTE Butterflies? Basically it found that in Low IV Rank or High IV Rank environments for SPX, the sweetspot is holding the butterfly overnight and selling the next morning (which is the day of expiration). Holding to close is the killer especially on High IVR days.

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I’ll paraphrase something that Seth Freudberg said in Orlando this week: being that you have a serious passion for options trading, you have one of the (very) necessary elements for success.

I almost hate to head back to my home base tomorrow (and 30 degrees vs. 80 degrees), but my batteries are very much recharged now.

The next MoneyShow conference is in Sarasota, I believe. If any of you are free or in that area, I can’t recommend one of these conferences highly enough.

Closed most of my uvxy short positions out today. Worked really well. If any of you decide to trade this, give it time.

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uvxy short positions

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Closed mine out last Friday a bit too early in the low 14's but still nice profit and as you have said, I will wait for another spike and repeat.

Will check out the twitter feed for uvxy, thanks for rec. also have been thinking of taking some long calls out a few months as think VIX spike happens thru Jan.

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Jag, I have not been to one of the money conferences before, when I look at the list of speakers/agendas it is quite a broad span of topics. When you go to these events what is your primary goal (learn new trading techniques, network, new investment opportunities)?

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Because the MoneyShow conferences are so broad in nature, what I do is go through the list of topics and speakers ahead of time to determine which ones are of greatest interest to me. In some cases I’ll email the speakers and plan for a “side bar” conversation, if they’re open to it. In Orlando I had a very meaningful chat with Seth Freudberg of SMB Capital, and we’ll have further conversations going forward, to see if there is the potential to form a mutually beneficial relationship. I’ve really enjoyed being on my own, and I’m not really in need of additional capital, so it’s more of a get to know each other exercise right now. As far as my goal when I attend these conferences, it’s pretty much all of the above. Because options trading is still such a niche endeavor, it’s very difficult to find people in my real life who I can have meaningful conversations with, or trade ideas with (which is why I enjoy this thread). So I go to learn about other opportunities, network and hopefully have a little fun and R&R (that I can legally write off my taxes).

I’m going to do my best to attend at least a couple of the TastyTrade Bad Trader Tour or Unlucky Investor events that they do with the CBOE next year. There are also some separate CBOE master classes that very much interest me.

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I am sure missing the premiums from end of October now that VIX has dropped.

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You and me both. I wasn’t able to trade as much while I was in Orlando, or this past week because I had a charity event to attend. But when I was able to track the market, the low VIX didn’t provide many setups that I cared to execute. Kind of like getting a pay cut.

With that roughly 2% pop in the S&P, has anyone else gone into short call strategies up top?

Today I was able to dump some of the TSLA for a healthy profit that’s been hanging around in my account for a few weeks. The rest of it is tied up in covered calls, which are now in the money… and I hope they stay that way. I don’t mind dating TSLA in my trading account, but I don’t want to buy a ring!