How long $3000 will last option trading

Bought back ADCT for $1.65, ADCT Mark 22.75.

Reason, ADCT got downgrade, my view does not change but I don't want to fight it. Also, the whole trade start being -Theta due to the 25 put was way in the money, and 22.5 was ATM.


Lost $65 on this one. So, the total profit so far is $600-$65 = $535

Quote from skanan:

Sold ADCT put spread 25/22.5 JAN for $1. This one the 25 put was about 70 cent in the money so I got only about 30 cent time premium in this one.
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Good job.

I see you've been concentrating on short put spreads. Any reason for doing so?

MoMoney.

Quote from skanan:

These options expire worthless.

1. 1x TSO DEC 50/55 put spread for $1.60 credit.

2. 3x SPX DEC 1125/1135 put spread for $0.5 credit/contract.

3. 1x VLO DEC 85/90 put spread for $1.2 credit

2x VLO DEC 90/95 put spread for $1.35 credit/contract.

5. 1x SPY DEC 119/121 put spread for $0.50 credit

So I made $160+$150+$120+$270+$50
= $750.

I had previous lost from OEX about $150 so now I'm $600 positive.
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Quote from momoneythansens:

Good job.

I see you've been concentrating on short put spreads. Any reason for doing so?

MoMoney.
More...

Thanks.

If they were equity, I'm familiar with them and I took directional bet on them. For SPY and SPX, I listended to Coach Phil and you guys on SPX spread forum. The consensus seems to be uptrend so I only sell put spread.

For this month on spy, I did a lot more diag put spread than vertical.

I enjoyed reading your post over there.
 
SOLD -1 VERTICAL GOOG 100 JAN 06 400/390 PUT @1.35 ISE, GOOG MARK 424.32

Goog took a good drop today around $6.
I think goog support is around $400. This is low reward high probability and high risk trade.
 
SOLD -1 VERTICAL SPY 100 JAN 06 125/124 PUT @.25 ISE, SPY MARK 125.78

Total:

Delta 49 Gamma -20.36, Theta 6.87, Vega 15.5
 
How did those greeks influenced your decision to open this position? Or how do you plan to use them?
Quote from skanan:

SOLD -1 VERTICAL SPY 100 JAN 06 125/124 PUT @.25 ISE, SPY MARK 125.78

Total:

Delta 49 Gamma -20.36, Theta 6.87, Vega 15.5
More...
 
Those greeks must be for all positions you have on SPY right?

You have two PUT verticals and a PUT calendar, is that correct? Anything else?

Just want to follow along.

MoMoney.

Quote from skanan:

SOLD -1 VERTICAL SPY 100 JAN 06 125/124 PUT @.25 ISE, SPY MARK 125.78

Total:

Delta 49 Gamma -20.36, Theta 6.87, Vega 15.5
More...
 
So that's $135 reward on $865 risk. What is your stop loss going to be on this?

I don't think it's as high probability as it looks...but I'm sure you are familiar with GOOGs vol. I did a similar PUT spread last month after the downgrade circa 28/11 and it worked out nicely. Hope you have the same success!

Good luck.

MoMoney.

Quote from skanan:

SOLD -1 VERTICAL GOOG 100 JAN 06 400/390 PUT @1.35 ISE, GOOG MARK 424.32

Goog took a good drop today around $6.
I think goog support is around $400. This is low reward high probability and high risk trade.
More...
 
Quote from momoneythansens:

Those greeks must be for all positions you have on SPY right?

You have two PUT verticals and a PUT calendar, is that correct? Anything else?

Just want to follow along.

MoMoney.
More...

Mo

Yes, those greeks are all my positions. I opened a new position so many times it's difficult to keep track. I applied TOS portfolio management style to just look at those greeks:

After all of spy trades, here is my positions:

At TOS
+1 Jan 123 Put
+1 Jan 124 Put
-2 Jan 125 Put
-1 Jan 129 Call
+1 Jan 130 Call

At IB
-1 jan 122 Put, +1 Feb 124 Put
-1 Jan 123 Put, +1 Jan 121 Put
-1 Jan 126 Put, +1 Mar 126 Put
-1 Jan 124 Put, +1 Feb 124 Put
-1 Jan 124 Put, +1 Feb 123 Put

In short, at TOS, I have one IC and one vertical credit put spread. At IB, I have some diags, calendars, and one vertical credit put spread.

I did not put these things out because I was waiting for a virtual portfolio from new version of TOS software. It should let me keep tracks of these easier.
 
Mo,

I don't have stop loss. This trade is set to run till it end or I might take it out in last week. This is probably my 10th goog trade since the stock was $180. Had I simply bought stock, I could have earned more than doing all credit spreads.

Thanks!

Quote from momoneythansens:

So that's $135 reward on $865 risk. What is your stop loss going to be on this?

I don't think it's as high probability as it looks...but I'm sure you are familiar with GOOGs vol. I did a similar PUT spread last month after the downgrade circa 28/11 and it worked out nicely. Hope you have the same success!

Good luck.

MoMoney.
More...
 
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