StockFetcher Forums · General Discussion · Swing Trading Ideas and methods<< 1 ... 80 81 82 83 84 ... 98 >>Post Follow-up
Eman93
4,659 posts
msg #102115
Ignore Eman93
8/9/2011 1:38:07 AM

FOMC statment at 2:15 get your seat-belts on...


setting a buy stop on RDN at 2.00

Eman93
4,659 posts
msg #102947
Ignore Eman93
10/15/2011 9:00:41 AM



Eman93
4,659 posts
msg #102948
Ignore Eman93
10/15/2011 9:12:10 AM

.50 * 100 = 50 * 5 = 250

2.00 * 100 = 200 * 5 = 1000


straken
469 posts
msg #102951
Ignore straken
10/15/2011 4:43:14 PM

Eman,
Stop giving away the great secrets!!

No just kidding. This happens quite a bit on any stock that gaps big and fades on expiration day as many short sellers on the day want to close going into the weekend. Just a tip though for those who dont have access to level 2 quote boards use a 3 min candle. Its best to see three green bars to enter after 3:40 pm. than watching for the shadow on a 10 min chart.

Nice post. Thanks for the share.



Eman93
4,659 posts
msg #102965
Ignore Eman93
modified
10/16/2011 4:12:48 PM

I love his vids they crack me up...

straken
469 posts
msg #102966
Ignore straken
10/16/2011 4:46:17 PM

I know. I've heard a lot of contrary commentary about them being a scam but I listen to him on the day trading radio sometimes just to hear him. He's got a funny voice and his constant reference to ray ray just has me cracking up all day.

fortyfour
185 posts
msg #102967
Ignore fortyfour
10/16/2011 4:51:56 PM

Question to straken.
I have 2... yes ... 2 option trades under my belt....OCT 14 TNA 28 calls and OCT 21 VXX 47 calls ...
I am looking to daytrade at, or, slightly in the money SPY calls at least a week from expiration.

Although this seems the most liquid stock option...it looks pretty thin to me at 75kish as of now.
I use IB and have a 1 day 3 minute bar setup with ma(5) and williams(9) and will apply similar methods
as swing trading.

I frequently change limit orders with IB when trading stocks and this is fine...
But, with IB I get a warning that there is a charge for changing orders on options. ( probably just a buck or two havent looked)

Is this typical and if so why?
My chart draws the bid ask spread throughout the day and it appears to be approx 2 or 3 cents when things are quiet.
How are fills on market orders on the SPY options that are trading with volume?
I would never trade a stock on such thin volume but there doesnt appear to be a choice with options.
My reason for wanting to daytrade options is flash crashes , europe etc and I prefer to have less money on the table.



straken
469 posts
msg #102971
Ignore straken
modified
10/16/2011 8:25:57 PM

Question to straken.
I have 2... yes ... 2 option trades under my belt....OCT 14 TNA 28 calls and OCT 21 VXX 47 calls ...
I am looking to daytrade at, or, slightly in the money SPY calls at least a week from expiration.


(mistake: IV is to high right now and theta decay will eat up your premium. You want to either sell weekly calls just above resistance
or vice versa for puts, sell below support.) unless your daytrading the position then you need good volume.


Although this seems the most liquid stock option...it looks pretty thin to me at 75kish as of now.
I use IB and have a 1 day 3 minute bar setup with ma(5) and williams(9) and will apply similar methods
as swing trading.

Dont buy thin positions. If your skeptical about buying it, dont you think someone else will be if its a little higher and your trying to sell it? The SPY is short term overbought and is due for a pullback or a least run flat until another catalyst comes along. Flat markets are for option sellers, and spreads.

I frequently change limit orders with IB when trading stocks and this is fine...
But, with IB I get a warning that there is a charge for changing orders on options. ( probably just a buck or two havent looked)

It can add up. Thats an exchange thing. Supposedly you get 4 mods for every fill, but if your an active option trader you normally dont get popped. I'm not sure what IBs charge is but I believe its .0045 x transaction total in liber since they are not american owned.

Is this typical and if so why?

Yes, thank Obama for it along with Barney and his bed buddy, Dodd-Frank bill

My chart draws the bid ask spread throughout the day and it appears to be approx 2 or 3 cents when things are quiet.
How are fills on market orders on the SPY options that are trading with volume?

Exciting when they are moving.

I would never trade a stock on such thin volume but there doesnt appear to be a choice with options.

Then your looking at options that I'm not. The only way to make money against a dying asset is that it must move and move quickly. If there is no price action there's no reason to look at the option or the stock for that matter.

My reason for wanting to daytrade options is flash crashes , europe etc and I prefer to have less money on the table.

If your new to options that is the best way to start. Its also the best way to trade them. Options decay in value quickly enough to not leave premium sitting there. Theta decay eats away at it as it gets closer to expiration and more theta when its ITM. So you need to consider when you enter a position thats rising into profit, how much do I expect the stock to move tomorrow vs how much I will loose in decay and is it worth it? I daytrade many positions in options and thats my most profitable trades. Its nice to hold a breakout stock for 5 days when its running and collecting profit especially when more buyers in the strike are still accumulating them. But you only need one down day to kill three days of gains or some big player hedging the position to kill the IV and zap 30% out of the premium by selling a big position above the current ITM Strike. Pull the trigger quick and often.

fortyfour
185 posts
msg #102975
Ignore fortyfour
10/16/2011 9:43:10 PM

Very helful...appreciate you taking the time. Thanks.

straken
469 posts
msg #102984
Ignore straken
10/17/2011 4:46:38 PM

I know if you saw my IBM trade in intraday alerts today you may be wondering why I would pull off a high IV trade going into earnings, but if you study closely the vols around the straddles for the last few days you can see why I chose the puts. Of course there is more to it than just the IV readings, but order flow and a quick glance at the fundamentals would reveal a lower risk than would be calculated for the price offered for a stock that had all the expectations already priced in. Even with the vol crush after earnings I look to profit at least 100% on an 18K investment for one day. And those are the types of moves you want to scan for "cherry picking" good option positions are a great way to make profits quickly. IBM was pretty much the only thing I watched today.

StockFetcher Forums · General Discussion · Swing Trading Ideas and methods<< 1 ... 80 81 82 83 84 ... 98 >>Post Follow-up

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