Touchless said:

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Does anyone on here have a way they calculate what they expect option prices to be? For example, I have a SPY $279C for tomorrow and let's just say it opens at $284 which is the current AH price. If I wanted to set a limit to sell it essentially when markets open, how do I know what to price it at without screwing myself by setting it too low?

I had the DIS $115C that were discussed on here and I set them to sell at market open, but I also had the price barely too high so they never sold and I end up missing out on a lot on it.

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https://www.optionsprofitcalculator.com/calculator/long-put.html

WTF Amazon!

How do you all have time to do this day trading stuff while working a full time job?

khaos288 said:

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aggiedaniel06 said:

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I'll sell you those.

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Thanks bro

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Had I sold you those, I would buy 200 shares at $142.60 (As I type this). If I get called out tomorrow that's $3.80/share profit. No biggie.

You still have to hope BA opens ATM or otherwise those are still going be less than what you paid for.

Everything is up big AH. Tomorrow will crush the shorts.

Prognightmare said:

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SPY is up to 286 AH. I'll wait until next Friday to be sure, but we're not retesting the March lows.

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It's 289 now. still rising.

Prognightmare said:

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Everything is up big AH. Tomorrow will crush the shorts.

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roku is down. I haven't looked but is that just low volume?

tramaro1 said:

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Spaceship said:

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Freakin' Amazon! I sold out way too early.

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Haha that ain't no joke. Had weekly $2400 calls sold this morning around $15, those *******s got up to $80....geez!!! Oh well profit is profit right!

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I almost bought the $2500 calls yesterday when I saw the intraday bull flag. Would have turned $2.00 call into $29.00.

I'm going to start trusting my gut from now on.

Yeah I'm watching this market just scratching my head. I made some good buys the past six weeks but damn....I still have dry powder. I may sell a little into this strength. This is too much.

Nothing matters till 8:30 tomorrow morning. Not going to get my hopes up.

NRD09 said:

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The call you're describing has $5 of intrinsic value and almost no premium left being expiration day (theta? ) so if you want to be sure it fills set the limit sell at $5 and don't look at it again

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Thanks. Maybe DIS was a better example. I think Monday or Tuesday they spiked after hours to maybe $107 or so and I had the $115C expiring tomorrow. The premium jumped up to $1 at open and then quick rescinded from there throughout the day. How do you know what to set the limit at for open? OA I think set his for $1 and I happened to have mine at $1.1, but mine didn't sell so I missed the boat. Just trying to avoid situations like that going forward.

Alright another basic options question: if you're ITM on the expiry date, is it usually better to execute the option or sell for premium appreciation? How does the time decay component behave on that last day for the option premium?

Just fluctuating, no news. It will bust through 130 tomorrow

About 5% of what I do is long term investing. But, I'm using this massive rally to take out most.

What I do in my fund is 95% short term trades, up 5% YTD and 65% since July 2018 launch.

La Bamba said:

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Alright another basic options question: if you're ITM on the expiry date, is it usually better to execute the option or sell for premium appreciation? How does the time decay component behave on that last day for the option premium?

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Exercising the option is the most effective way to get zero extra value out of an option. It's 100% intrinsic value only.

Turned my straddle into spreads today to harvest some premium in a sideways market. I was able to close the put spread for a profit. Luckily I held onto the 281C/282C (don't like them this close, but the premium on the 282C was too rich to pass up).

Prognightmare said:

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Just fluctuating, no news. It will bust through 130 tomorrow

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i bought the 130 call this afternoon so it better

TXAG14 said:

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Nothing matters till 8:30 tomorrow morning. Not going to get my hopes up.

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I have stocks I'm going long with and happy with my purchases to date... Particularly some today that are already up 10% after hours. I'll take it.

I also just bought a few hundred SQQQ positions at 12.05 just now to see if this levels off by the morning and make some nice gains. I'm in a big gambling mood here. NO RAGRETS... NOT ONE LETTER!

Ragoo said:

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Has anyone seen Talon2DSO lately?

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His wife has him locked in the basement after he got a little out of control too quickly with his newfound option trading hobby.

DJIA futures up +655

I bought and sold tomorrow expiry spy 285c for 18% gain this afternoon. A win is a win, but ouch!

It appears the bulls have won.

Because futures are up 2% AH?

Thanks. That's a pretty good site.

When I enter the info, it gives me 3 columns, today, tomorrow and then expiry (eod tomorrow). What time of day does tomorrow represent? Would that be at open? If so, I find the result it gave me a little surprising. I selected the $288 price and it said $9.03 premium based on the $287C. That's only giving it an extra $0.03 on top of the difference between strike and share price. I would have expected it to be like $10.3 or something.

sherminator said:

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Because futures are up 2% AH?

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We're breaking upwards out of a wedge/flag pattern, it's bullish in nature

La Bamba said:

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Alright another basic options question: if you're ITM on the expiry date, is it usually better to execute the option or sell for premium appreciation? How does the time decay component behave on that last day for the option premium?

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In the last day(s) I like to write OTM positions against my ITM positions at a level where I'm happy with the spread + premium. With a long and short position you're theta neutral with a profit cap on the upside and protection on the downside from premium collected. If pricing is favorable, it is possible to recover most or all of your premium on the short position so you're playing the last day on house money. I never let options exercise. Either put in a limit that is $.01 under the spread if both are ITM at the end of the day, or sell in the last ten minutes.

I followed the money on the Gilead options, but I only took a couple options. Wish I had gotten more at this point.

This is just a crazy V recovery so far given the real economic damage we know has been done. Makes a retest or even further drop less likely but could be more violent if it does happen? Who knows.

Prognightmare said:

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leoj said:

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This is just a crazy V recovery so far given the real economic damage we know has been done. Makes a retest or even further drop less likely but could be more violent if it does happen? Who knows.

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The GILD news and with Trump's press conference saying we've peaked and will be reopening, the virus cloud is dissipating. Now this market has all that liquidity from the Fed about to be put to work.

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spot on here. Honestly, I can't believe it's been so fast. I still feel like we are going to slow down or test, but I'm certainly dead wrong on that theory to date. I hope I continue to be for the sake of everyone.

My current theory is that the tech stocks will sell off some just because people will be taking profits and competition from brick and mortar stores takes into their share.

This rally took off right when Trump talked about the worst 2 weeks ahead of us. Now, it's promising treatment and a plan to reopen, so look out below.

Any idea what those 4/17 $245 BA calls are worth?