My Options Play

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Quote from Cluseau:

If you don't see it why not just ask? Just say, hey pal, why do you believe that it is feasible to trade on the bid and ask and what other trades can be propelled into play if i do so?

TRy to behave yourself. People are giving you feedback on posts that aren't exactly inviting. I know you can do it. We can help. :D

EDIT: In trading, your plan and all of your tools go up against others. YOu are the general. Now, you want to create and destroy. Smoke and mirrors! Do you know how create long bias? short bias? shorterm? Trading includes these components so you'll need to place limit orders to buy on the bid and vice versa. I hope this general explanation clears up some of the mystery for you. YOu're probably a good fella deep down.
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Give some live trading examples, like I have done.
 
Quote from hajimow:

Now does anyone still believe putting a limit buy order for options is bad? I caught the spike. that was $2.
Multioption congratulations.
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Are you still in that trade? Don't count your money until position is closed. This is when GREED comes into play. GREED is when you have a winning position and try and squeeze out an extra nickle, only to see it turn into a losing position.

Did APA move with the Oil & Gas industry or did the oil & gas industry move with APA? Sometimes a company can move its industry, was that the case this time? No news from Apache so I don't think so.
 
Quote from uninvited_guest:

Give some live trading examples, like I have done.
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If you want to talk about a possible trade i can comment on it and give examples on it. Finding a good trade is only one component of trading anyway. There are many components to all types of trading.

What kind of example would you like? Pick an instrument/stock/option. I'll give you the trade tomorrow at 8:30am est. Until then stay positive.
 
Are you still in that trade? Don't count your money until position is closed. This is when GREED comes into play. GREED is when you have a winning position and try and squeeze out an extra nickle, only to see it turn into a losing position.

I put the order at 9:15 EST and at the same time put an order to sell if I get $150 profit on two contracts totally and I was busy with my day job When I checked my orders, I realized that both orders "buy and sell" were executed. I closed the position because I did it for fun and my basket is full and I did not have a plan to add a new position till Nov option expiry date. However I have a plan to sell 2 naked Call for HD 40 Nov. My price will be $2. I know that the bid and ask are around 1.2 but I am not that eager to do that trade but if they buy it $2, I am selling. Just 2 calls and for fun.
 
Quote from iceman1:

multi_option

the problem with APA trade and oil this month - is the open interest may imply lower prices - check out front month calls/puts - this was my concern and was going to tell you that 65 may be an arb level or at least that it might swing back to below 65

-- which is not to say it cannot still be pinned nearer to 70 - next week. Not looking good so far for bullish oil trades.
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Ice, how often do you observe that there is a short term cap on the underlying stock price in relation to open interest at a certain strike price? I see for APA after todays close that the 70 strike has a higher open interest than the 65. How does the price of the stock play into this observation, ie if the price is low (eg below $20?) do you see the stock price being capped more often than if the underlying price is higher. Hope the question is'nt too mundane for you . I'm new to options and this thread and your observations have been a phenomenal learning experience.

Btw following stocks scan well similar to what multi looks at. I don't know what exactly he looks at, but I used discretion and some of my own scanning methods. It will be interesting to see how they pan out next week.

ABX, NSM,RESP,ARRS,N,FDG
 
Sell to open 20 Nov APA 60 Calls @3.97
Sell to open 15 Nov APA 60 Calls @4.12

APA has shifted balance. Daily chart is suggesting a lower low.

Waiting to see how APA pans out!

Going to bed!:)

Will give details on what happened to this trade.
 

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Multi,
At this point, does the initial purchase of the Nov 65 calls for apa still fit your criteria and do your indicators still forecast a jump to 69-72 in the next few days.
Also, you stated earlier, similar to the BBY trade, that if the call goes out of the money you normally drop the position.
What is the difference between this new position in apa vs the bby in terms of what you see and the reaction to to it (selling the position vs adjusting).
With the adjustment you made, it appears you still have some confidence in your trade.
I ask purely to learn so your insight is appreciated.

Thanks
Saif
 
Quote from Multioption:

Sell to open 20 Nov APA 60 Calls @3.97
Sell to open 15 Nov APA 60 Calls @4.12

APA has shifted balance. Daily chart is suggesting a lower low.

Waiting to see how APA pans out!

Going to bed!:)

Will give details on what happened to this trade.
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This is a backspread that'll make some money helped by further price drop, passing time, IV increase (above ~$62) or decrease (bellow ~$62).
 

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Going to bed at 10:30 a.m. ? Are you serious ?

I had high hopes for you. :confused:

EDIT: I'm trying to understand why you want these type of trades after a sizable move already in APA. Wouldn't it be best to sell those calls at a higher price and if APA retraces to say $65.
 
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