A Trade

Discussion in 'Options' started by donnap, Aug 20, 2014.

  1. donnap

    donnap

    Well, this forum is for traders, I think. Don't see too many trades.

    I looked back at atticus' (God rest his soul) post on PFs. The sentence, "Then you simply solve for risk of a strike touch under a flat vol-surface/gain to sticky delta." kinda jumped out at me.

    Very good and generous info, but I guess that's why I'm not an option strategist. I just buy 'em and sell 'em.

    Haven't traded ES in years, but I saw something and decided to make a go at it. Honestly, I saw a dip, then rally. Probably should've waited for the rally side. Got up early for this one.

    Legged in by selling 2 Sep monthly 2000Cs @10.00 and finally got 1 1990C for 14.00. Was hoping to do better, but it was a favorable leg in. Now, with the rally, the spread is down about a point.

    I'll hedge the upside a bit here and more aggressively later.

    Just sold 2 SPY Aug 22 weekly 197P for .23.
     
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  2. donnap

    donnap

    bought back the puts for .14 at 3:10 EDT. Attempting to sell ES put.
     
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  3. donnap

    donnap

    Got the Aug 29 1950P sold for 3.30. Those are ES points so that's just $165
     
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  4. donnap

    donnap

    Bought the put back via limit order for 2.40 at 4:43:39 a gain of $45 big ones net of costs.

    Still in the red.
     
  5. donnap

    donnap

    Bought 2 SPY AUG 22 199.5C @ .35 and just sold 2 200Cs for .18 for the bull call spread, effectively lowering the ratio a little - at least for a while.
     
  6. donnap

    donnap

    This trade hasn't gone according to plan from the start - obviously. Was trying to get a better leg in to start. So I've just been improvising along the way - or call it plan B. I'm liking the looks of the downside here, but not yet.
     
  7. donnap

    donnap

    Just sold the 199.5 Cs @.42. Nothing like fighting a bull market. Tons of fun.
     
    Last edited: Aug 21, 2014
  8. donnap

    donnap

    Just bought the Aug 22 1995C for 2.10. I'll pay for little peace of mind. Make money later.
     
  9. donnap

    donnap

    Screw peace of mind, short the UL at 1990.50
     
  10. donnap

    donnap

    Bah, out at 1990.75.
     
    #10     Aug 22, 2014