My option trades

[iceman1]

Quote from ryanpatrick:

June options on SPX, looks like you've got a 1290-1310 target for SP500 by mid June? That sounds pretty bearish in that time frame. I'd at least see the SPX find some kind of support around 1350 first....there must be some bad econ news coming up within this time frame? I guess we'll see what happens on Friday first.

i finally caught the market short.

long SPY 142p - spread a little too soon (sold lower strikes 138 ) trying to 'neutralize' (free trade) and of course whenever I do that I am too early. Started legging out of 142 and creating bull spread with 138. Still holding some SPY 142p. May re-enter if I can "figure out" a further downside target. Closing of SPY/NDX gap was my target and everyone else apparently.

Also long SQQQ from 10.38 (approx) and + SQQQ May 11c @.50
and +Sept 14c @1.05 / now ratio 2/1 on SQQQ June 12 @.80

Also in NDX bear spread +275c/-270c and holding (converted/rolled) fly ie. +2750p/-2675p/+2650p (after closed -2700p - the original body of my fly - for +2.20 profit per - on last pop)

better to be lucky than smart.

i expected the earlier gap to resolve and now don't know which way we go. I look for a bounce later in day on Monday, and maybe a higher close, but not higher high. Of course I gave up predicting after being hammered one-time-too-many back in the 90s.

edit:

also in AMZN May2 back/ratio spread
-225 @395/+220 @190 (3/1 bearish)

and AMZN May Fly = 230p/225/220p

 

[qqqoptions]

Quote from traderlux:
....bull put credit spread....gmcr $48.73, options pricing in $7.62 move....
.....wkly exp may 4, 39/41put, $41 cr, possible 26% return....

Quote from iceman1:
I didn't catch you saying what the "% loss" could or might be?

Easy to figure out with a basic knowledge of options, maximum dollar loss is $159. Percentage depends on account size, number of contracts and how you want to play with the numbers.

 

[iceman1]

Quote from qqqoptions:

Easy to figure out with a basic knowledge of options, maximum dollar loss is $159. Percentage depends on account size, number of contracts and how you want to play with the numbers.

that's true... but then I would have had to actually think about it. duh!!

 

[atticus]

Quote from falconview:

Aaaaah! Probe 1959

Thankyou! I´m glad I´m not alone.

Atticus, care to explain the synthetic straddle and being turned into a fly, now I sort of semi-understand the setup of both.

Short 100 shares

Short 2x puts (result=synthetic straddle)

Long 1x 105P/125C strangle (result=105/115/125 synth iron fly)

The rationale is to get into the fly cheaply via a gain on the underlying share-short and perhaps some gains from time/decay (synth vol). I earned a few bucks on the shares before selling the puts. The trade became a short straddle (synth) when I sold the 115 puts, which will become a fly when I buy the 105P/125C wings.

 

[ryanpatrick]

LNKD trade turned out to at $14.01 gain. Should have taken what the market gave at $1.60-$1.70, but closed out at $1.20 from $1.00 cost. the shares did move up beyond that opening price as expected, just not as much partly due to weak broad market. From $118 open, I saw it hit around $120.50 twice.

I did jump into HLF 50/55 spread at 1.75, but I closed out the short 55 calls at end of day (sold at $1.72, bought back at $1.05) for profit of $114.49. Now if we can get the market to hold steady and HLF climb back higher to $50-$51, I'll probably short the 52.5 or 55 calls again this time letting the position ride to the end.

Earnings this week. I like my bets on RAX, FOSL, and PCLN right off the bat with RAX and FOSL set to report beyond today's market close.

 

[ryanpatrick]

RAX gapped 20% last time, I think the options are expensive because of that gap, so I'm getting in with 60/65 spread. The cloud sector has been strong. I did see FFIV and VMW with solid numbers, and EQIX gapping to new highs on solid earning. I think RAX should continue its momentum growth here as the sector remains strong. There's 7% of float shorted, and shares holding above 20 and 50-day ma even with the market in a correction mode the past week. There seems to be support at the current level of $55-$57. I bought the 60/65 spread for $1.40 x 2 at total ($293.04).

 

[atticus]

Quote from atticus:

Short the synth May18 115 straddle from 13.10 (net w/short shares from 119.50). Will fly it off on Monday or a touch of 115 today.

Waiting for 3.10 on the 105/125 outside strangle for (10.00, riskless*) on the iron fly.

 

[iceman1]

Quote from ryanpatrick:

RAX gapped 20% last time, I think the options are expensive because of that gap, so I'm getting in with 60/65 spread. The cloud sector has been strong. I did see FFIV and VMW with solid numbers, and EQIX gapping to new highs on solid earning. I think RAX should continue its momentum growth here as the sector remains strong. There's 7% of float shorted, and shares holding above 20 and 50-day ma even with the market in a correction mode the past week. There seems to be support at the current level of $55-$57. I bought the 60/65 spread for $1.40 x 2 at total ($293.04).

Ryan,

only problem I have going long earnings play is broad market seems a bit skittish not to mention been selling off (correcting?) recently.

You still look for a 15% pop on this one?

 

[atticus]

RAX is a complete sham like CRM. Not to say it won't go up as they will say anything to pump it on the call.

 

[optionatrix]

I sold half of my SPXPM JUN 1240P, so I have 1360/1300/1240 fly and 1360/1300 front spread now. I didn't like the action so far today. I think the market will go down, but it may take some time.

Correction: I sold a quarter of my 1240P - one was waiting to get filled.