StockFetcher Forums · Filter Exchange · Simple filter for long term option trades<< 1 2 3 4 >>Post Follow-up
snappyfrog
184 posts
msg #146852
Ignore snappyfrog
3/9/2019 7:49:26 PM

I am just now getting my feet wet in the options swamp, and have only traded iron condors. So a few questions. 1) How far out (days till expiration) are the options you trade? 2) Do you trade ATM options?
Thanx

**********************

Graftonian, I buy 30 - 45 days out. Even if I only hold or plan to hold for a few days. These USO puts I bought April monthlies. If I am still in trade by the end of March and I believe it is still a good trade, I will roll the puts out to May monthlies.

I do this so that theta does not eat up my profits. Even if the underlying consolidates, I will get out. If the option price is not moving enough to stay ahead of theta, there is no longer a reason to hold, no matter what the chart is saying.

I only buy ATM or ITM options. I did try OTM options when I first started, but without a major move it goes nowhere.

graftonian
810 posts
msg #146859
Ignore graftonian
3/11/2019 10:04:27 AM

Snappy, thanks for the info. I'll be following your USO trades. Any comments on the trade that you care to make on the trade as time goes by will be appreciated.
Graf

snappyfrog
184 posts
msg #146861
Ignore snappyfrog
3/11/2019 12:18:24 PM

I bailed on USO this morning. Markets and USO went against me. Took my losses.

graftonian
810 posts
msg #146869
Ignore graftonian
3/11/2019 7:08:25 PM

Roger on the bail out, don't ride it in, get out while there's still time.
Looking forward, I see TLT and QQQ as candidates tomorrow. Am I correct in assuming one would buy the apr18 TLT 120 call and the QQQ 174 put? Does the IV rank affect your choices?
Thanks

snappyfrog
184 posts
msg #146871
Ignore snappyfrog
3/11/2019 8:43:55 PM

graftonian
614 posts
msg #146869
- Ignore graftonian 3/11/2019 7:08:25 PM

Roger on the bail out, don't ride it in, get out while there's still time.
Looking forward, I see TLT and QQQ as candidates tomorrow. Am I correct in assuming one would buy the apr18 TLT 120 call and the QQQ 174 put? Does the IV rank affect your choices?
Thanks
******************

graftonian, buying the put on QQQ @175 or 174 would be good. I personally would not buy on TLT even though it made a cross, the slow line is way too high for my liking. I prefer the slow line to be <50. The closer the slow line is to the 20 line the better. Obviously, the opposite for puts.

For IV I prefer under 50, no higher.

graftonian
810 posts
msg #146872
Ignore graftonian
3/11/2019 8:58:45 PM

I picked up TBT, GDX, EWY, and XLV on another filter, will add TLT and QQQ to my paper trading list


graftonian
810 posts
msg #146898
Ignore graftonian
3/13/2019 9:28:04 AM

Snap, I didn't see any new trades for Tuesday. A 4% loss on Mondays buys, with QQQ being the big loser, Will bail on that one this morning.
Good Hunting, Graf

snappyfrog
184 posts
msg #146906
Ignore snappyfrog
3/13/2019 11:03:41 AM

graftonian, when I can't find a cross of the %k and %d I will go to my back up plan of the %k crossing the 20 line. Tuesday I got into ATVI as a longer trade and BA as a day trade (which worked out well).







snappyfrog
184 posts
msg #146942
Ignore snappyfrog
modified
3/16/2019 12:26:33 AM

ATVI up over $1.50 on the stock price. I actually bought calls when underlying was 43.06. Calls up about 35% so far. I expect it to continue up on Monday.



StockFetcher Forums · Filter Exchange · Simple filter for long term option trades<< 1 2 3 4 >>Post Follow-up

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