My option trades

Interesting calculation excercise. I need another .33 cents to break even at 1.98. Add another .50 cents for commissions, then I need $2.48 as my minimum exit price?

I was going to try my hand at a paper traded Reverse Iron Condor today. Got distracted. Maybe get to it a little later this morning. When we get a pull back?
 
Quote from falconview:

Interesting calculation excercise. I need another .33 cents to break even at 1.98. Add another .50 cents for commissions, then I need $2.48 as my minimum exit price?

I was going to try my hand at a paper traded Reverse Iron Condor today. Got distracted. Maybe get to it a little later this morning. When we get a pull back?
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right so my point the other day was that you could convert this to a spread. Lets say the qqq's rally to 67 and sit there. You could then sell the next strike up and convert to a call spread. sell the calls underneath, etc this is why you should understand delta and basic synthetics. For example, if you are long 5 calls at a .50 delta you are long the equivalent of 250 shares of stock synthetically (5 x .50 = 250). Some people use a different short hand for this. Someone else here said an option strategy/position is an expression of an outlook. There is no escaping risk. Forget about gamma scalping just know what position will offset your long deltas that is the point of synthetics, what is the equivalent position, simple. :)
 
King Gyppo

I´m getting amused with the kibitzing about taking an afternoon nap. I´m taking the joshing all in good fun. The reason I took the nap, was I spent a couple of hours roaming around the island on the back of my daughters motorcyle looking at real estate lots. I was trying to find one I liked for $40,000 but most of what she showed me was $50,000 to $300,000. I think I might get one real estate lot, OFF THE GRID and municipal services, at my budgeted price yet?
I´d finished, I thought in the morning my only active cash trade with the sold PUTS for the day and all the paper trades require attention on Friday. So took off. We had to go to the traffic office and license two motorbikes. Well one brand new TRAILBIKE with big wheels and one second hand Honda scooter, small wheels for my nephew. Then we went real estate hunting and got back to check the market about 1 p.m. local time, an hour before close. When you only have a small account and can only do one CASH trade at a time, it doesnt take a lot of watching sometimes.
Hope your trades are going well? :cool:
 
Quote from falconview:

King Gyppo

I´m getting amused with the kibitzing about taking an afternoon nap. I´m taking the joshing all in good fun. The reason I took the nap, was I spent a couple of hours roaming around the island on the back of my daughters motorcyle looking at real estate lots. I was trying to find one I liked for $40,000 but most of what she showed me was $50,000 to $300,000. I think I might get one real estate lot, OFF THE GRID and municipal services, at my budgeted price yet?
I´d finished, I thought in the morning my only active cash trade with the sold PUTS for the day and all the paper trades require attention on Friday. So took off. We had to go to the traffic office and license two motorbikes. Well one brand new TRAILBIKE with big wheels and one second hand Honda scooter, small wheels for my nephew. Then we went real estate hunting and got back to check the market about 1 p.m. local time, an hour before close. When you only have a small account and can only do one CASH trade at a time, it doesnt take a lot of watching sometimes.
Hope your trades are going well? :cool:
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offer low....:) , just so you know every possible mistake you have made has been made by others. When I first started trading or should I say overtrading futures, I was scalping ym. I was long 5 with a .30 cent stop, got stopped out, reversed, got stopped out, reversed, got stopped out, seriously man I had tears in my eyes I was so frustrated. This shit will drive you crazy and make you want to quit. So when people don't think you are taking it seriously they get pissed off. Just get the basics down, have a great day. :)
 
Quote from falconview:

King Gyppo

I´m getting amused with the kibitzing about taking an afternoon nap. I´m taking the joshing all in good fun. The reason I took the nap, was I spent a couple of hours roaming around the island on the back of my daughters motorcyle looking at real estate lots. I was trying to find one I liked for $40,000 but most of what she showed me was $50,000 to $300,000. I think I might get one real estate lot, OFF THE GRID and municipal services, at my budgeted price yet?
I´d finished, I thought in the morning my only active cash trade with the sold PUTS for the day and all the paper trades require attention on Friday. So took off. We had to go to the traffic office and license two motorbikes. Well one brand new TRAILBIKE with big wheels and one second hand Honda scooter, small wheels for my nephew. Then we went real estate hunting and got back to check the market about 1 p.m. local time, an hour before close. When you only have a small account and can only do one CASH trade at a time, it doesnt take a lot of watching sometimes.
Hope your trades are going well? :cool:
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Like others have suggested- you should stick to those kinds of investments... houses, trail-bikes, dykes [LOL], etc

Those dont require constant upkeep and focus and attention. Trading does- gotta wake up early, etc etc...

Just my 2 cents...
 
Quote from falconview:


Standard straddle: Delta neutral, vega neutral. ( Jeeeez, I´m talking GREEKS like it´s natural. WOW! Atticus must be proud of me?
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That straddle sounds magical (vega-neutral). How did you manage that?
 
Quote from atticus:

That straddle sounds magical (vega-neutral). How did you manage that?
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They didn't teach you how to make a vega neutral straddle at O'Connor?

I thought that was a quality firm.
 
Quote from atticus:

That straddle sounds magical (vega-neutral). How did you manage that?
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I recon I could do it.. so long as overlaying a synthetic vega offset by sizing cash stops at the right price steps .. still counts as a straddle.

Maybe. :cool:

edit - Do margin calls count as a vega offset?
 
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