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Steven PlaceKeymaster
140 has been tagged so it’s time to put on another round of calendars.
Full Time Profits Order Ticket Type Asset Duration Strike C/P BTO UNH 20 Jan 17 140 Put STO UNH 16 Dec 16 140 Put Total Debit: 1.50 Attachments:
You must be logged in to view attached files.Steven PlaceKeymasterClosing this out as earnings are done and the premium disappeared.
IWO Premium Order Ticket Type Asset Duration Strike C/P BTC GOOGL 18 Nov 16 755 Put STC GOOGL 18 Nov 16 750 Put Total Credit: 0.15 Steven PlaceKeymasterTaking profits:
IWO Premium Order Ticket Type Asset Duration Strike C/P BTC FDX 18 Nov 16 175 Put STC FDX 16 Dec 16 175 Put Total Credit: 1.8 Steven PlaceKeymasterWell SPG is testing it’s lower Bollinger bands. It’s getting hit hard on earnings and is having its second day of followthrough to the downside.
IWO Premium Order Ticket Type Asset Duration Strike C/P STO SPG 16 Dec 16 170 Put BTO SPG 16 Dec 16 165 Put Total Credit: 0.75 Add to the trade at .90 and 1.20
- This reply was modified 6 years, 7 months ago by Steven Place.
Steven PlaceKeymasterI’m seeing a value of .21 on the spread so now’s a time to place orders to get out of the trade.
IWO Premium Order Ticket Type Asset Duration Strike C/P BTC CAT 18 Nov 16 92.5 Call STC CAT 18 Nov 16 95 Call Total Debit: 0.20 Steven PlaceKeymasterSo this trade has done pretty well… there hasn’t been a massive retracement higher in GLD but instead the shiny metal has gone sideways for a while.
I’m going to close here and look to reenter if/when GLD hits 115 for the first time.
IWO Premium Order Ticket Type Asset Duration Strike C/P BTC GLD 18 Nov 16 116 Put STC GLD 18 Nov 16 113 Put Total Debit: 0.25 Steven PlaceKeymasterIt triggered today:
IWO Premium Order Ticket Type Asset Duration Strike C/P BTO NTAP 18 Nov 16 34 Call Total Debit: 1.51 Stop on a 30 min bar close under 32.94
Steven PlaceKeymasterTo figure out net delta, just use the delta as measured by the price slices menu:
Steven PlaceKeymasterOk to look at a single option delta, you can view it on the option chain or inside the analyze tab.
Now to figure out when it hits 20 delta… I’ll show you the simple way first.
1. Find out the current 20 delta option:
2. Subtract that strike from the strike of the short option you have. So if you have on the 2220 short call, then it would be 2220-2200 = 20 points
So basically if you have a 20 point move higher you probably need to look to adjust.
The more advanced way to do this is use the options analytics, and instead of looking at P/L Open, you look at Delta:
And then you figure out at what price the delta will be 20.
October 12, 2016 at 3:07 pm in reply to: Is this a good time to put on an IC in SPX or RUT (given elections are on 8 Nov) #7109Steven PlaceKeymasterI don’t think it matters much.
I don’t think elections are volatile events. Also, if you’re putting on normal IC’s, then you’ll start with short detlas anyways so if the market sells off you’ll be OK.
Steven PlaceKeymasterTaking the loss on this one. Very low odds that we’ll see any kind of movement in GOOGL to get the value back on this trade.
After a month of cheap options and no stock movement, we had another month of the same.
IWO Premium Order Ticket Type Asset Duration Strike C/P STC GOOGL 21 Oct 16 830 Call STC GOOGL 21 Oct 16 770 Put Total Credit: 3.15 Steven PlaceKeymasterSo we saw a gap up that led to more selling and this morning we’re seeing a gap down. This feels like an exhaustion gap so this is a good place to initiate a position.
IWO Premium Order Ticket Type Asset Duration Strike C/P STO GLD 18 Nov 16 116 Put BTO GLD 18 Nov 16 113 Put Total Credit: 0.55 Will add to the trade at 0.70 and 1.00
Steven PlaceKeymasterOk so we have a confirmed failed breakout in GOOGL.. the problem is it came in the form of a gap up so it will feel like chasing.
Because I want to have a “theta positive” trade right now, I’m going to focus on spread sales.
IWO Premium Order Ticket Type Asset Duration Strike C/P STO GOOGL 18 Nov 16 755 Put BTO GOOGL 18 Nov 16 750 Put Total Credit: 0.8 I’m offering .90 but no fills yet. .85 to .80 should get filled.
Going to SCALE IN here. Will add at 1.20 and 1.70.
Attachments:
You must be logged in to view attached files.Steven PlaceKeymasterOk putting on this trade now:
IWO Premium Order Ticket Type Asset Duration Strike C/P STO CAT 18 Nov 16 92.5 Call BTO CAT 18 Nov 16 95 Call Total Credit: 0.6 Going to add to the trade at .80 and 1.00
If the stock continues to squeeze I will roll up and out to December options.
Take profits if the value trades down to 0.20
Steven PlaceKeymasterAfter spending a month consolidating in September, it lost 65 and is running to 60.
We are going to roll this trade and add size.
First, the closing trade:
IWO Premium Order Ticket Type Asset Duration Strike C/P BTC LULU 21 Oct 16 62.5 Put STC LULU 21 Oct 16 60 Put Total Debit: 1.34 And now the opening trade. This is to be done with twice the size:
IWO Premium Order Ticket Type Asset Duration Strike C/P STO LULU 16 Dec 16 52.5 Put BTO LULU 16 Dec 16 50 Put Total Credit: 0.40 Right now we are locking in a loss, but we will trade around the 2nd and 3rd tier to get back to breakeven.
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