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GOOGL at $548.84. April10 557.50 Calls at $0.40 (bid). 2 days to expiration. Trade still open. I have submitted a Limit Order to sell at $2.50, good until April 10 Friday. :)

$12.45 I'm with BMO Investorline. $9.95 plus $1.25 per contract. Max $35.00 if order under $2,000. :)

Oh I see why the probability went from 16-18% all the way down to 1%-2%, you inputted the wrong closing price. GOOGL did not close at $537.02, it closed at $544.86 - that's a big $7.84 (1.4%) error. I bought when GOOGL was at $545.99 and within 19 minutes it dropped to a low of $543.58 then...

The probability goes from 16-18% all the way down to 1%-2% after 19 minutes of time decay and a $1.13 drop on a $500+ stock? That's why I'm very skeptical about the usefulness of the option greeks. :)

I'm very bullish on the overall US markets and expect the Nasdaq to break its all time high very soon. Earnings may be a catalyst to get things going and I would like to get my foot in the door beforehand. GOOGL's weekly options are cheap and it doesn't take much to get a 100% plus increase on...

GOOGL - Bought 2 April10 557.50 Calls at $0.50 Thought I would share this trade with you guys. I expect GOOGL to have a pre-earnings rally this week so I bought some OTM calls, the order was filled at 15:41:01 EST today. GOOGL at $545.99. Bought 2 April10 557.50 Calls at $0.50. 3 Days to...

I don't think he understands the physiological part of a trade 2 months or more in duration. If the position goes red early it is tough to cut the loss because there is hope that it will turn around, then the main objective becomes just breaking even. With a shorter time to expiry you do not pay...

I would go with the weekly options 7 days out or less. That way you are forced out of a bad trade quicker and you can then plan the next trade. Buying that extra time of a few months is just a crutch to lean on and hoping a bad trade will turn around so you can get your money back. :)

FYI TD Ameritrade is the sponsor of the Trading forum on ET. :)

TSLA - Do the math Sold an extra 800 of the Model S (10,300 instead of 9,500). Up 6.34% on the news. About 1.5 Billion Dollars additional market cap. That works out to $1,875,000 for each extra car sold. MSRP of a Model S S71,000. :)

All three of those replies center around the same pro-option greek view. The greeks can be used to determine the Risk/Reward, P/L and quantity of a position based on how the underlying might move in the future. IMO ..... Visualizing a trade mentally to determine the Risk/Reward, P/L and...

Good point ....... This thread is about the option greeks. Knowing the underlying will influence how the greeks should be interpreted. The same trader will handle two trades differently based on the underlying even though the greeks are nearly identical, making the greeks less relevant. :)

OK .... So I had to Google "gamma" to decipher that position. With IBB at $339.70 it could be long the 340.00 calls, puts or both. :)

The thread has been deleted so I can't link to any examples. What concepts were demonstrated to be wrong? :)

I'm not surprised it got deleted, it was an anti-TastyTrade thread. Constructive criticism is OK, but that thread was full of false accusations. :)

Lots of negative posts, there is no need to be so defensive. I don't see the value in the option greeks that's why I started the thread, I wanted feedback on what you guys used them for. Get back on topic and answer the original question: Option Greeks - Are they useful or noise? Gamma Theta...

Wow sounds complicated, all that option greek gobblie goo lingo. But your position is probably a very simple spread that can be visualized more efficiently by studying the underlying without the use of the option greeks - before entry and after entry. Yes that is what I'm leaning towards...

Thanks for the replies ......... and confirming my initial belief that the option greeks are useless. There was only one post indicating what he uses the greeks for as I requested in the OP, and that post was very weak in stating the pro-option greek argument. Buy high - Sell higher. How...

Option Greeks - Are they useful or noise? Gamma Theta Vega Impvol Delta IMO ..... Since the values continuously change based on the stock I find them to be useless. What do you guys use them for? :)

I think that would be very accurate. :)