any option sellers

TskTsk · May 8, 2012

Quote from rmorse:

Why eat....Can't you live with family in the basement?

Bank took my house after I wrote puts against it...I live in a box now

Quote from newwurldmn:

you lost $198,998,000? . Must have been a rough few months

Yeah, I lost it selling naked calls in AAPL....but I'll make it back selling some more naked puts in spanish and italian banks

newwurldmn · May 8, 2012

Quote from TskTsk:

Bank took my house after I wrote puts against it...I live in a box now

Yeah, I lost it selling naked calls in AAPL....but I'll make it back selling some more naked puts in spanish and italian banks

Ha. Good idea. Make sure to do it on leverage. Sell puts on 10MM worth of notional on the banks. That way you can make 100% month. You'll be beating the S&P500 easily!

TskTsk · May 8, 2012

Quote from newwurldmn:

Ha. Good idea. Make sure to do it on leverage. Sell puts on 10MM worth of notional on the banks. That way you can make 100% month. You'll be beating the S&P500 easily!

Good stuff, I'll lever myself via a loan shark and put my life as collateral, thats riskless profit right there!

newwurldmn · May 8, 2012

Quote from TskTsk:

Good stuff, I'll lever myself via a loan shark and put my life as collateral, thats riskless profit right there!

Yeah. I think I saw it on a website somewhere. A guy named Gambino was advertising his secret strategy to make money in up, down, and sideways markets.

babutime · May 8, 2012

Quote from newwurldmn:

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phil413 · May 8, 2012

thanks for all the replys guys if any one has any trades they would like to post I'd welcome them. I sold the May BA 72.5 puts today for .48 and the LULU May 70 puts for 1.23 both expire in 8 days

Dael · May 9, 2012

Quote from phil413:
thanks for all the replys guys if any one has any trades they would like to post I'd welcome them. I sold the May BA 72.5 puts today for .48 and the LULU May 70 puts for 1.23 both expire in 8 days

Are you playing only with stocks options? Have you ever tried commodities?

phil413 · May 9, 2012

Quote from Dael:

Are you playing only with stocks options? Have you ever tried commodities?

yes mostly indivual stocks, some ETF's but for the most part stock options over the last several years

sle · May 9, 2012

Quote from phil413:

thanks for all the replys guys if any one has any trades they would like to post I'd welcome them. I sold the May BA 72.5 puts today for .48 and the LULU May 70 puts for 1.23 both expire in 8 days

not sure if 26 vol justifies a nekked sell on BA and it is a 30 delta option 3% away... you can easily blast through your strike, especially if the market gives (the beta of BA is about 1.2, so it's a measly 2.5% move in SPX to your break even)

phil413 · May 9, 2012

Quote from sle:

not sure if 26 vol justifies a nekked sell on BA and it is a 30 delta option 3% away... you can easily blast through your strike, especially if the market gives (the beta of BA is about 1.2, so it's a measly 2.5% move in SPX to your break even)

Thank you much for your feed back my thought on the BA was to use the 50 day ema as a first area of support which was 74.74 secondary support would be the gap fill from 4-24 the close on that day was 73.21 with a low of 72.77. I try and look for consolidation areas for support. The RSI is moving into oversold now theta is .05 with 7 days left currently down .08 on the postion the 200 ema is down at 71.98 which I would anticapate holding however at that point I would probally buy it back. Thanks again for your comments