any option sellers

RichardRimes · Jul 4, 2013

Quote from Eddiefl:
2
Pretty flat week will be fine by me.

1625 was a nice entry.

EF

Not looking so hot this am....also I closed my long 1620 for 2 pts..yuck..but will see how it plays out.

Eddiefl · Jul 4, 2013

Quote from RichardRimes:

Not looking so hot this am....also I closed my long 1620 for 2 pts..yuck..but will see how it plays out.

Yea, sitting here watching as well.

the euro news popped it up a bit, got a couple futs on to try to hedge. holding tight to see how it plays out.

EF

Dael · Jul 5, 2013

Quote from Eddiefl:
sold calls on spy, bear vertical calls on qqq

What strikes were on calls and verticals? And what are margin requirements and collected premium?

As an example, the best strangle I've got right now in my portfolio is ZN:
Sold on 24th Jun 3 contracts of 118P / 131C for 30 days expiring.
Collected $305 premium (commissions included) with mere $600-700 margin.

If I'd be dumb in risk mgmt and go with ZN on half of account, I'll get +25% in account growth per month. Huh.

Eddiefl · Jul 5, 2013

Quote from Dael:

What strikes were on calls and verticals? And what are margin requirements and collected premium?

As an example, the best strangle I've got right now in my portfolio is ZN:
Sold on 24th Jun 3 contracts of 118P / 131C for 30 days expiring.
Collected $305 premium (commissions included) with mere $600-700 margin.

If I'd be dumb in risk mgmt and go with ZN on half of account, I'll get +25% in account growth per month. Huh.

I have the qqq 73/73.50 verticals call sold for the current weekly.

and the spy 162.50 calls sold for current weekly, those are under water.

got a few futs on for hedge, any more questions i am too hungover.

seeing by your post i can tell you arent too hung over and thats just un American, lolol ha

RichardRimes · Jul 5, 2013

Well...I`m not hung over but on the west coast on vacation so of course slep thru all the excitement. The 1615 straddle is looking pretty good so I'll let it expire and accept either a long or short assignment. Went ahead with selling a put on the 1615 weekly to go with the short 1625 call (for next week) which is back to looking good

Eddiefl · Jul 5, 2013

Quote from RichardRimes:

Well...I`m not hung over but on the west coast on vacation so of course slep thru all the excitement. The 1615 straddle is looking pretty good so I'll let it expire and accept either a long or short assignment. Went ahead with selling a put on the 1615 weekly to go with the short 1625 call (for next week) which is back to looking good

Yeah, i think we have seen the highs of the day, i am good on the qqq bear position,, needing the spy to stay low or get lower.

either way , hope everyone has a great 4th of July weekend, be safe and see you monday.

EF

trkarl · Jul 5, 2013

I sold 10 RUT AUG 1080/1100 spreads today for .54 credit

Dael · Jul 9, 2013

Quote from trkarl:
I sold 10 RUT AUG 1080/1100 spreads today for .54 credit

Any current input? You've got $19,500 margin and -$280 PnL now with near $900 PnL potential if expired worthless?

trkarl · Jul 9, 2013

Yes I am under water at the moment which is usually the case when the spreads are first put on. If they expire worthless the profit potential is the net credit received for selling the spreads.

Where are you getting 900 from?

Dael · Jul 9, 2013

Quote from trkarl:
Where are you getting 900 from? [/B]

Sorry, I've build position in TOS via current prices (0.82), so PnL was $820. You've filled with 0.54, so it's $540 on 10 contracts. True?

In this case I clearly don't understand the reason of trading index options. Futures options are way better in profit/margin performance. You've got 500/2000, this is 2.5% on margin maintained (and less in profit/account performance). I've posted my favorite ZB details. There was 300/600 profit, 50% return on margin.