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Stock Picks and Trading · Intraday Alerts
gmg733
msg #143444
5/4/2018 8:13:08 AM

You want to be short volatility when volatility is high for that underlying component. Right now the IV of the SPY is not high enough for me, but it won't prevent me from selling calls on rallys. Yes it is somewhat counter intuitive because when SPY rallys IV goes down.

There is plenty of volatility in the market for options sellers. Just not the SPY right now.

Its easy to be long gamma and short theta. And its easy to lose money that way. :) If you want to do this do spreads and or calendars, IMHO. My opinion is this works well for day traders who won't have to worry about theta, but that doesn't fit my style of trading.

Stock Picks and Trading · Intraday Alerts
gmg733
msg #143432
5/2/2018 5:14:52 PM

Not bad JP. :)

Any magic to your success other than buy quality when its on its butt?

Thanks.

Stock Picks and Trading · Intraday Alerts
gmg733
msg #143415
5/1/2018 4:15:20 PM

The way I trade options JP it isn't really a good vehicle. But it looks ripe for a stock purchase.

Stock Picks and Trading · Intraday Alerts
gmg733
msg #143411
5/1/2018 2:43:23 PM

mahkok I'll play along

filled at 2.40

Stock Picks and Trading · Intraday Alerts
gmg733
msg #143409
5/1/2018 2:05:30 PM

Oldie but a goodie filter.

Fetcher[
symlist(TLT,EEM,EFA,QQQ,GLD,SH)
add column weekly roc(14,1) {14 week performance}
sort on column 5 descending
add column corr(qqq,65, close) {correlation to Nasdaq}


weekly roc(14,1) is above 0
]



The only one that has a positive ROC is SH.

Stock Picks and Trading · Intraday Alerts
gmg733
msg #143408
5/1/2018 1:58:06 PM

Would like to see vol a little higher. Ugh!

STO Jun15 EWW 48 Put and 53 Call for 1.21 per one lot

STO June15 SBUX 55 Put and 60 Call for 1.05 per one lot

I'll manage the EWW at 40% max profit and the SBUX at 30% max profit. Or manage each trade accordingly.

Full Disclosure: I just got off anesthesia about two hours ago. :)

Stock Picks and Trading · Intraday Alerts
gmg733
msg #143407
5/1/2018 1:33:53 PM

Bartune

Still holding the HD trade. I'm only 1.22 away from break even and I have 40 theta per day. Normally I would have rolled this out already but the original idea of this trade was to be in and out before earnings. I think we get some two sided movement and we scratch this one. I normally don't trade weeklys either. This is what I get from steering from the script. LOL

My XLY positions were going against me and now I'm up 22%. Probably close those. Only two positions I have not rolled are HD and XLY.

Stock Picks and Trading · Intraday Alerts
gmg733
msg #143373
4/27/2018 2:32:43 PM

IV in XLY came in big today. Wow! I was selling strangles with extremely high IV and it is down about 60% now. I needed the help. :)

Stock Picks and Trading · Intraday Alerts
gmg733
msg #143372
modified
4/27/2018 2:30:22 PM

Looks like weekend vol is coming out today. I'll start rolling on Monday my positions that are 21 days DTE that are not profitable or are underwater.

I'll determine what I'm going to do with HD on Monday Bartune. I may roll it out.

Have a good weekend all.

Stock Picks and Trading · Intraday Alerts
gmg733
msg #143371
4/27/2018 1:26:36 PM

yeah going delta neutral saved my bacon. But I started getting delta short towards the end of 2017 and I was flat for months because the vol would come in and essentially offset the loss on the deltas.

If I would have stayed delta neutral I would have been up more. But vol being back is nice. My profits are almost equal to last years already simply because vol is up.

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