I am short ES tonight, looking for 3192 test. Unlikely again to see a breakout close tomorrow and more likely to see a test lower
FunkyKO said:
Whoops hit reply to you. My bad
Nflx also protected 3q subscribers on the way light side . Street was excepting 6.5 million subscribers while nflx said 2.5 million.
Thanks for the explanation. I think you're one of the more knowledgeable posters here.McInnis 03 said:
The original purchase was a vertical spread long 300P, short 279P for September monthly expiry.
As SPY has jostled, it's been up, so the 279P has dropped significantly a couple times. When it gets to a point we've oscillated on (ie: SPY 322) I buy them back. Then I resell them when we take a dive. It's not super lucrative but it's a gain for me. I've done this 2 times. Right now I am waiting for a dive to sell them again.
I've kept the 300P the whole time as I can't sell naked puts without cash security due to this being in my ROTH IRA. Yes, the 300P's oscillate too, but the theta is very low right now with them being so far out. I'll make a decision on them in the coming weeks. If the PCall ratio gets back to .85 or so, I'll dump them, or if they double in price I'll dump them.
With all that being said, I'm probably not the best guy to be taking strategy from.
thanks for posting. you sound like a certain poster that used to post here under different name? rhymes with hay?Bretton Gekko said:
I am short ES tonight, looking for 3192 test. Unlikely again to see a breakout close tomorrow and more likely to see a test lower
jeromePOWell said:
Paging McInnis -
Thinking about using this recent down tick to get some deals on some LEAP options, looking at NET - could get in the $40 Jan 21 C for $585, then sell calls over the next several months, the premium would pay you back the $585 pretty quickly taking a couple relatively safe out of the money sells over the life of the contract.
Does your brokerage have any specific language in their terms that if assigned they will exercise the LEAP to fill my assignment? My one concern is if it does go to the moon on me and the system doesn't have logic built in I'd want to have a lot of cash sitting in there for assignment insurance.
Care to join me for the ride?
jsap said:Thanks for the explanation. I think you're one of the more knowledgeable posters here.McInnis 03 said:
The original purchase was a vertical spread long 300P, short 279P for September monthly expiry.
As SPY has jostled, it's been up, so the 279P has dropped significantly a couple times. When it gets to a point we've oscillated on (ie: SPY 322) I buy them back. Then I resell them when we take a dive. It's not super lucrative but it's a gain for me. I've done this 2 times. Right now I am waiting for a dive to sell them again.
I've kept the 300P the whole time as I can't sell naked puts without cash security due to this being in my ROTH IRA. Yes, the 300P's oscillate too, but the theta is very low right now with them being so far out. I'll make a decision on them in the coming weeks. If the PCall ratio gets back to .85 or so, I'll dump them, or if they double in price I'll dump them.
With all that being said, I'm probably not the best guy to be taking strategy from.
So on your initial purchase, do you do two separate trades? A buy to open on 300p and a sell to open on 279p?
Could you also explain the .85 pcall ratio? I'm assuming .85 put call ratio means bearish sentiment which would raise your 300p premium?
Touchless said:
How far out do you sell the $279s? If the $300s you bought are say September or October maybe, do you sell the $279s like a month out from expiration or so (ex. sell on 7/1 with expiration of 7/31)?
lol...nevermind. I should have read the next 10 posts or so first.
khaos288 said:
Do you guys prefer to sell weekly calls a few points above, or long term calls at a bigger strike?
I can make 2.82 on a 12/28 48c for xom, and cash the dividend. Or I could make .45 a week at a 2-3 dollar weekly strike.
khaos288 said:
Do you guys prefer to sell weekly calls a few points above, or long term calls at a bigger strike?
I can make 2.82 on a 12/28 48c for xom, and cash the dividend. Or I could make .45 a week at a 2-3 dollar weekly strike.
Grown Pear said:khaos288 said:
Do you guys prefer to sell weekly calls a few points above, or long term calls at a bigger strike?
I can make 2.82 on a 12/28 48c for xom, and cash the dividend. Or I could make .45 a week at a 2-3 dollar weekly strike.
For a stock like XOM I usually look at week of or a week out and personally go further out of the money if I'd prefer to hold the stock. I'm ok collecting a smaller premium (an example would be 0.10 for the 48 call next Friday. That would be a 10% rise in 6 days to get exercised. Not always how I go but that's the overall idea. I'm usually a decent bit otm and get .20-.30 per contract for a week out let's say. Plus the hopeful dividend and it really adds up
Pignorant said:
PTI July 17 covered calls expiring tomorrow.
YNWA_AG said:
What hedges do y'all have in place or looking at?
Ranger222 said:
Mentioned FEAC as an idea several months back...already 20% return on this and now rumors of what the acquisition might be...really interesting
watch it for a bit first... this is OPEX, after the last run, everyone and their grandmother wants to bank on a TSLA call. I highly doubt it runs tomorrow. They want to crush premium.gougler08 said:
Seems like it would be to hop in early assuming no gap up and then have a real tight stop. I may gamble with 1 call