Day trading OEX options

Quote from jeffalvinson:

Hi Ron,

Like yourself, I trade the OEX daily and have for a number of years. (I also trade stock options.)
I started out several years ago with using mathematical mechanical systems. I traded this way for a number of years and finally got tired of the inconsistent performance from month to month and the lack of fills.
I eventually switched over to using a pivot point daytrading method. I like this much better, but of course there is a lot of variables one can do with pivot points and OEX options.



Jeff
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Jeff,

I am just now reviewing this thread and I was wondering how you are seeing the OEX's currently. I am still trading the monthlies. I haven't tried working with the weeklies as of yet but may give them a try once I find a site where I can get intraday volume. My methods are all short term intraday directional trades. I usually trade about 5 times a day and get flat before the close. I still find a lot of variation in fill times from one OEX contract to another. So when I find a contract that posts and fills promptly then I try an focus my day trading operations exclusively on it, on into expiration. It would be good to hear any comments you or others might have on this sector.

Ron
 
Quote from roncer:

Jeff,

I am just now reviewing this thread and I was wondering how you are seeing the OEX's currently. I am still trading the monthlies. I haven't tried working with the weeklies as of yet but may give them a try once I find a site where I can get intraday volume. My methods are all short term intraday directional trades. I usually trade about 5 times a day and get flat before the close. I still find a lot of variation in fill times from one OEX contract to another. So when I find a contract that posts and fills promptly then I try an focus my day trading operations exclusively on it, on into expiration. It would be good to hear any comments you or others might have on this sector.

Ron
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Ron,

The June 710 call (OEZFB) has been decent this month.
I have never tried the weeklies.

Jeff
 
Jeff,

Yeah thanks. I have been watching volume fairly closly and FB is doing pretty OK today. I have also started now to look at the RQ as it also seems OK.

Ron
 
Ron,
The two best performing (good fills and good price action)June OEX options for me this month have been:
June 710 call (OEZ=FB)
June 680 put (OEY=RP)


Jeff
 
Quote from jeffalvinson:

Ron,
The two best performing (good fills and good price action)June OEX options for me this month have been:
June 710 call (OEZ=FB)
June 680 put (OEY=RP)


Jeff
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Jeff,

Your input is appreciated. I have been trading OEYRQ mostly today and it has been tough. At one point I bought in and the emini's moved 3 points in my direction and I could not get $.10 in profit and in strong frustration I covered at breakeven. It seemed like the contract had volume at some times of the day and at other times just no one was trading it. The OEYRT had trading volume of over 2,000 today so it may be pretty good. I use this site intraday to try and moniter volume. http://tools.thestreet.com/tsc/quotes.html?pg=options&symb=OEX&sid=4216&bars=1&bars=2&timer=

Ron
 
Quote from roncer:

I find the time lag before recieving fills frustrating yet I like the slower price data moves compared to the emini futures.
Ron
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How many days left on the contract when You initiate the trade?
Did You try weekly options..£?
 
Quote from artes:

How many days left on the contract when You initiate the trade?
Did You try weekly options..£?
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artes,

I most definitly find it much easy trading with faster fills and price action in the last week before expiration. Right now the June OEX's in general are more difficult having less volume.

Re: weeklies.........no I have not tried them yet. Can you post some weekly symbols?
 
A few comments on today. I tried OEZFB just once it seemed OK. However the spread was rather wide for the price level.

OEZRT seemed OK but slow. However with it's higher price it would move $.30 to $.40 when there was a decent index price move.

OEYRQ was fast and really had a tight spread much of the day. Often it was only a $.10 spread. This is real nice for day trading as you can wait until you feel real sure and then just hit the ask for entry. I stayed with this contract most of the day.
 
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