With jobs numbers, tomorrow is really a wild card. Maybe Kudlow will get on TV and say something to spark a 90 points S&P relief rally. In the meantime, enjoy CNBC's markets in crisis coverage. I added a few positive delta positions in tech today thinking that earnings will lift the market. Maybe that was a mistake.
Big drop overnight
- Thread starter Pekelo
- Start date
With jobs numbers, tomorrow is really a wild card. Maybe Kudlow will get on TV and say something to spark a 90 points S&P relief rally. In the meantime, enjoy CNBC's markets in crisis coverage. I added a few positive delta positions in tech today thinking that earnings will lift the market. Maybe that was a mistake.
- The premium option sellers must be getting killed in this market.
- But ET still gets those wackos posting in the option forums.
Not at all! Thanks for continually predicting our demise. Projecting about 55% profits this calendar year.
Sweet Bobby thrives in market volatility! Bring it!
Not necessarily. The premium has also gone way up to compensate for the higher risk. The day Amazon broke into the 1400 range, I was still able to collect good premium (I think it was somewhere around 2.00 to 3.00 per call) by selling calls 2 and 3 weeks out in the 1700 range. I've been short Apr 210 FB calls and AAPL Apr 190 calls for a few weeks now. Last year with the VIX around 11, I never would have been able to collect any significant premium at those levels. My earnings plays have also done well. I've been selling low delta calls far OTM and still collecting good premium. I would have had to sell a lot closer to the money to get that premium last year. Only change to my strategy has been to be cautious with the short puts.