is anyone here trade options

I would like to group up for options discussion,


Myself, most of the time day traders for options,

strategy I use Buy call/put, vertical, and butterfly. for selling the majority vertical for a few days to few weeks.

not sure can post trade for discussion ?

i'm swing trading options on US index.
there used to be an active telegram group about options, but pretty much inactive liao since 2022 crash.

is it, I always been active, 2022 was one of the best year. time to accumulate back people be more active

got in some position myself for current and new position
VIX 22 may 2024 25C 0.78 current
spy 23d april 495P 1.68 new
SQQQ 21jun 12C premium 0.65 current few week back
iwm 26april 189P 0.90 new

This post has been edited by tkwfriend: Apr 18 2024, 01:06 AM

I hardly buy but mostly sell naked/spread puts or covered calls.

Recently the 0DTE been pretty profitable but could be dangerous during volatile times.

This week plays:
Short QQQ APR 18 421P 1.00
Short DIA APR 19 375P 2.00

Let see how it goes, 2 more days to go.

I am options seller too. Mainly doing covered/naked puts and covered calls.

from last night...

Action	Quantity	Fin Instrument	Price	Time
BOT	1	SPY May 495/490 Bull Put	-1.4	0:33:03
BOT	3	SPY May 495/490 Bull Put	-1.23	23:27:21
BOT	1	ES May31 4850/5350 Short Strangle CME	-55	22:22:30

For selling options I am building a system to screen the entire options, usually, I choose those with good returns with low risk

Buying I had built my indicator in tradingview, usually, I use 1min and 5min time frames.

as time approaches May 7/8 more interesting will happen.

This strategy is a good strategy, how do you usually find the option to do it?

My target per week is about USD1k to 1.5k which so will still do, but I more focus on buying lol

IWM after clsoing



SPY





after market


Myself I love VIX a lot, because it can bring you super HIGH, always about time I will buy some as it goes.

This post has been edited by tkwfriend: Apr 18 2024, 03:06 PM

My is USD300-450/week. Good week can earn usd1k+. For me USD20-30/week/counter enough.

My usual list
Nvidia
Costco
Mcd
Accenture
Snowflake
Visa
Linde
Unp
Palo alto

I don't stray from the path.

This post has been edited by Ramjade: Apr 18 2024, 03:13 PM

seem capital intensive, I have not trade many in your list before other than nvida, snowflake

tkwfriend u trading with TDA?
how's the liquidity and bid ask spreads on VIX option compare SPY?

not sure if its because of timing, as of now, there is almost zero vol on nearest dte and the spreads are damn wide.

This post has been edited by lamode: Apr 18 2024, 04:48 PM

in my many years of experience in VIX I seldom go close to 1 week expire, as many big hedging funds buy 1 month to 3 months range, further is 6 month.

i had few round encounter that VIX without any volume and suddenly just come in, if you know something bad going to happen to S&P 500, I had profited from buying VIX that I bought 4th march 2024 for 44% for strike price 16. was initially loss by 70% of the premium as expecting something going to happen.

liquidity and spreads at the moment still has the gap, as it coming I am expecting to have smaller gap when come to May 2024. and wider gap end of May 2024

close spy, for 29% profit iwm 51%

closed too..
your broker is TDA?

currently is Schwab, as they bought over td back in 2019

Anyway nice profit there.

futures crashing now...

notice you like to do future spread,
I am still on my SQQQ which arrive 107% on options
vix doing so so

looking to reenter again for iwm, spy and qqq, and maybe additional call on SQQQ

I tp liao.

Got do SPY and QQQ ETFs also.
I had to do future options this morning, it was out of trading hours for ETFs, sometimes to save a bit of comm... 1 ES = 5 SPY options.
Not always manage to save though as liquidity is better in SPY.

SQQQ...and Options together are like juggling dynamite sticks but can also turn into bars of gold at the end of the juggling act as long you don't drop them or any of them explodes.

This post has been edited by danmooncake: Apr 19 2024, 08:50 PM

I had my TDA converted to CS too late last year. Don't like the new web interface of CS. I missed the simplicity and ease of use of TDA web portal. Luckily, ThinkorSwim (TS) still works.

Today just done with

SPY 22/4/2024 496P 10 qty premium bought1.80 sold exit1.87 bought wrong price
SPY 26/4/2024 495P 10 qty premium bought 3.10 sold average price 3.39

QQQ 26/4/2024 412P 10 qty premium bought 2.27 sold average 2.54
QQQ 26/4/2024 417P 5 qty premium bought 0.86 sold all at 0.91

IWM 22/4/2024 196C 10 qty premium bought 0.40 sold 0.46


Open SQQQ 21/6/2024 14C bought 3 premium 0.80 still open

SPY 22/4/2024 498c 2 qty premium bought1.47 (00:39:13) sold exit 2.13 (01:00.13)

This post has been edited by tkwfriend: Apr 20 2024, 01:22 AM

yup, but this few days having some issues, unable to login and keep hang if able to login

Can i ask some questions about options trading?

1) In which platform are y'all using for options trading?
2) What are the requirements to be eligible into options trading ($money)

for me I choose Charles schwab 0.65+0.65+0.25 commission
and tasty trade 1.0+0.25 more than 11qty usd10 +0.25*11

for local later in june or july moomoo will be providing
tiger under mas Singapore (commission is usd1+1+0.65+0.65+?? clearing fee)

if you are looking for intra trading want to avoid 25000pattern day trading if not open cash account

This week play:
Short QQQ APR 26 430C 2.50

I was assigned QQQ earlier this week at 421.

Things were so bearish for tech last week, I thought it's going to be another leg down.
Crazy volatility. Now get to play the call side as seller.

What is the minimum initial amount to start with for options trading?

Do i need to deposit a certain amount in acc as collateral?

For options trading, it's depends on the level that you're requesting from the broker,
and the securities that you want to trade.

I think it somewhere between $1000 to a few millions (for naked shorts capability)...

For example:
Want to write a short PUT for SPY?
This week it will be something like this:
1 PUT will need $51,000 as collateral.
10 PUT will need $510,000.
100 PUT will need $5,100,000.

today came down again, I still play intraday, still for see some put still yet to finish, as long as VIX above 15.50 will have more moment

it depends on your strategy,some strategies are capital-intensive, some minor

what I saw before people start 1000usd grew to 6000usd within 5 month...

as summary

if you sell option need more capital maybe at least minimum stock price x100

if youbuy and sell for trade option can be lesser

This post has been edited by tkwfriend: Apr 26 2024, 12:20 AM

iron condor

if you have 2 legs then no need a full amount as collateral

Hey Ram, roughly what's your capital outlay and u mainly does cash secured put and covered calls?

Would really like to know this as well...but i think it really depends if its a 1/2/multi leg options..

but if its purely based on his earlier listing, ex Nvi alone on selling CSP will be over 80K++..haha.

TS, can your share whats your portfolio size as well to gain 1-2k/week ....

This post has been edited by lctw87: Apr 29 2024, 10:52 AM

TSLA rocket mode

I am dealing about 75k USD, average trade turn over per night 20k usd

very pain leh... my SPY 510/505 BCS expire today gone case.
set order to roll to next May before mkt close

I am expecting spy to reach close to 470 before reverse upward,

I do some lotto on put later. @ 475P for May 31, paying less than 2 per put I think worth to play, if good, may reach a premium about 6.00

follow by QQQ and IWM no time to see yet

This post has been edited by tkwfriend: May 1 2024, 07:51 PM

Im started on Structure warrants on bursa, just want to ask if is the same thing as option on US ?

This post has been edited by froz3nnoob: May 4 2024, 01:06 AM

main difference i can think of is, US options is physically settled. the option can be execised and you can get shares (simplifying/omitting a lot here)

while the bursa warrants are cash-settled, you get paid the profit in cash & no shares will be moved

feel free to correct/add on

They took away my Qs on week of April 26, shorted again 421 Put for $2 this week but market rallied back up yesterday.

Initially, I thought Fed going to cause puke fest.. but nothing so far.

No assignment this week, but is good enough for nice meal.

bought a put to hedge after your msg, and then kena ran over by bulls



the problem with bursa warrants are a lot of premium mark up by issuer, and no flexibility in term of strike price, DTE and short selling.
US options in some futures in ES and NQ are cash settled.

Stop doing options cause i find out i got a short bias whenever i trade options and i like to gamble with 0DTE on events/news specific outcome. This more or less destroy my trading result for 2023.

Now focus on long only strategy with the occasional long dated individual stock options to further leverage on my stock pick convictions, much better result after this change.

For me, throughout the years, I've experienced only 10-15% chance of winning every time I play the long side calls or puts, which are terrible odds.

But 60%-75% chances of winning if I play the short side (either calls [against the long stocks] or puts/puts spread because of time decay.

Most of short puts or puts spread are the stocks/etf I want to own..

This post has been edited by danmooncake: May 5 2024, 01:20 AM

I gone through Malaysia stock market many year, before leaving.

is close, but different

reason market goes down and up

1. people think raise rate
2. apple big fat giant doing well ....errr
3. pmi non manufacturing...down and up in the end

[quote=lamode,May 4 2024, 01:03 PM]
bought a put to hedge after your msg, and then kena ran over by bulls

me too initially after buying made about 18% but left it there, let see this week anything happen, if base on the chart for 4hour time frame, there is an inverse cup and handle, maybe still somewhat possible.



[quote=ChAOoz,May 4 2024, 02:00 PM]
Stop doing options cause i find out i got a short bias whenever i trade options and i like to gamble with 0DTE on events/news specific outcome. This more or less destroy my trading result for 2023.



Now focus on long only strategy with the occasional long dated individual stock options to further leverage on my stock pick convictions, much better result after this change.

[/quote]


"in my opinion, really need to know well of direction..... to me 0DTE and 1 DTE is my favorite, as can possible to profit like 30% to 400% in a single day"
everyone strategy different, I just enjoy trading

usually I look at 8 different symbol at a go. and using 1/5min time frame for entry and exit

Short side especially if you do naked shorts the liability can be super painful when market sentiment turn like the one recently seen in Tesla or coin, those are the usual suspect that wreck my options results.

Yeah i enjoy trading, but i think it’s not for me.

I dont go in and out, i like to bet on a direction, go to bed and hold till expiry.

I think I had been doing for years

currently, I am mid of setting up money printing machine, excited, hopefully, can test it in 3 weeks time, once ok will go live
I can sleep back Malaysia yet make profit from the market

yes learned a hard lesson too, always do spreads to short volatile stocks to cap the max loss.

yes that help reduce risk, if make it right both potentially could make more too, which had done many times

any play tonight?

not my day today

for Thursday spy range 519.?? is a the resistance, but cross above 520 will head near 523, overall range 513 to 519, mile support at 515
These few days have been consolidation

QQQ base on data big block of 441.11 that is resistant there, after interpreting the move keep around or lower

This post has been edited by tkwfriend: May 10 2024, 02:46 AM

Bought
SPY call 31july 2024 @536 8.50
QQQ call 16 August @475 7.86

i am also opening long positions on ES and SPY

just got caught in big put move due to the pop. quicj profit from put/call both direction in intraday

congrats ur huat....
all mine now red3

What platform you all use for options trading?

The spy coming back, QQQ also

myself I am using Charles Schwab for manual trade, and

tasty trade on the testing my own system for automation development

mcm gooding..lama no touch...
bos bos sekalian....which trading platform you use now...
I only on IBKR
is this good in checking chart?
How you open the trading account?

This post has been edited by taitianhin: May 24 2024, 11:44 PM

i closed some to reduce pos.

i am on IBKR, so far so good.

Charting I create my own indicator at Tradingview
I open just online will do, I don't use IBKR because data need to pay and to complex took me 2 week also still don't know how to use. tasty trade took me 20min to learn the platform, and think or swim took me 30min

I took some profit just now, but will enter more again when I have more confirmation

Planning to have some long position in TQQQ, SPY, QQQ,
What I see is VIX at low area, so very likely all this will move upward.
yesterday got freak out a little, but done buying more call to average

i use Moomoo real time options data to compensate for IBKR's 15 min delay

I use tiger. I am not paying IBKR when other people can give me for free.

I not sure about Moomoo real time data

I know tiget has few seconds of lack for pricing. how I know because when my friend use tiger and I use think or swim, my price will come first before tiger

close spy position and QQQ , will re-enter again

When selling weekly put, do you close it at 50% or let it expire?

usually prefer to let it expire, unless market is not favor and strike price is too close and not planning to exercise

I see. Because I tend to sell put when the price shot down red. That's when the IV spike and premium is much higher. So, I tend to reach 40% gain within the day or 1-2 days later.
I don't know if it's worth to sell early, or wait another week to pocket the premium.

Even if I close early, I don't necessarily have the next target to sell. Don't know to go for the quick 40% or let time eat away the theta and higher gain.

I have my own system to screen for high percentage % premium and yet far away in the money
my best screener usually give me about range 10% to 30% gain base on calculation is premium/potential capital will help me to filter from the whole market

usually I prefer to do smaller stock, and far away. so not so pain.

This post has been edited by tkwfriend: May 30 2024, 09:27 PM

Last night enter
Single Put options on

SPY 540P @ 5.90
QQQ 450P @ 3.30
TQQQ 64P @ 3.25

I'm looking for people to discuss options trading. Any active user here?

Made a few succesful trades so far. Did pretty well with nvidia recently.


Looking for more opportunities.

Any suggestions?


This post has been edited by ruztynail: Sep 14 2024, 04:28 PM

So many. Costco, Microsoft, Nvidia, crowdstrike, linde, tsmc, avgo

Just a newbie question here. I hope some folks here can help.

Any website, video, or books that i can refer, to learn more about US option?

Preferably ebooks. Thanks so muchhhh

Options with Davis.
Tasty trade have lots of videos on options.

ya i also know la got so many other nasdaq tickers.. but as you know options are allot more harder as they hv the greeks and different strike prices and expiry dates.


This post has been edited by ruztynail: Sep 16 2024, 04:50 PM

I don't see all that. I see premium. Don't be greedy. Aim like USD20-40/counter. Some stock options can get like USD80-100/counter and some monthly stock options can give like 200+/month.

Lots of way around it. Yes some looks at greek. For me how much premium I get paid works very well for me.l until today. I don't use or see all those Greeks. For me I focus on premium paid to me. I keep things simple.

So you selling options? not buying options? you do covered calls?

I don't buy options. Options buyer usually get the short end of the stick. Statistics already shown that 90% of options expired worthless. Use that statistics to your advantage. Be the insurance company or the casino house.

Yes I maybe wrong. I know there are lots of options strategy. Find one that works for you. For me I keep things simple by selling both covered call, covered put/naked out.

This post has been edited by Ramjade: Sep 16 2024, 10:17 PM

the greeks are not very useful for retail investors, as most will not be using them to hedge their risks. plus retailer's position is too small to be cost effective to do continuous hedging.
eg: say your delta position is +13. Are you really going to short sell 13 underlying to neutralize your risk?

can use options to cheapen your entry level... at least that is what I do...

OK. I'm not looking to sell options tho. Looking to buy them. I prefer the short end of the stick based on my risk appetite.

So anyone who likes to brainstorm please shout out here.



OK thanks. IMO, if the greeks are important to the institutions i'd think it will be even more important to the retailers.. i just buy call or put options. So knowing what i buy is important too.

I dont quite follow your scenario. delta in the greek options is always lesser thn 1. never seen 13 before..

This post has been edited by ruztynail: Sep 17 2024, 04:49 PM

People generally buy options to hedge (buying put) in case it goes down.

Buying call means you are expecting the price to goes up. Unless you are Nancy Pelosi.

Keep in mind buying options have expiry date. It's like you buy a car. Once you drive it off, the value depreciates. Time is the enemy of the options buyer and is the friend of the seller.

Yup, well aware of the risks and expiry behind options. its like leveraging but on steroids.

I called intel since last week, which popped up 15% yesterday (incl post market) but unfortunately didnt enter as the FEDs decision is this week.

So far selling options have work out wonderfully for me. I prefer consistency Vs trying my luck.

This post has been edited by Ramjade: Sep 17 2024, 05:51 PM

the greeks are important... its just that retailers don't have much use for them. to FIs or fund managers, they are used to look at their overall portfolio risk(specifically for their market risk and senior management to know the positions the firm is holding).

an example.
Yeah, a option's delta is between -1 to 1. 0.5 delta on a call can be used to indicate how much "exposure" your portfolio value is to a small change in the underlying price. Say you have 1000 such call, that means you effectively have a exposure of 500 of the underlying.
To a trader or risk manager, to neutralize the risk, the opposite position is to be taken if they wish to. Ie, short 500 of the underlying.
As a retailer, would you be able to short 500 of the underlying? shorting comes with its own set of risks. You already wanted that position right?

yea..different people got different risk appetite lo. you'd need people like me to buy your contracts also ma...

you also need to take into consideration where and whn u want to place your contracts to sell to, and if your covered was well positioned too.

if the options you sold were exercised, that would also mean you had opportunity gains you've missed. Put too far out and OTM also you wont gain much. So both sides hv risks too.




Not sure why you keep using large numbers.. those variable you're talking about are adjustable based on what you're willing to risk.

i buy options based on what i am willing to risk at that point in time. and i dont need to hold the opposite direction. my risk is just the entire contracts i purchased..
for e.g. i bought 32D NVIDIA call option $120 for $1.70/contract.. i bought 5 of them for a total of $850 (excl. fees). i lose $850 if it expires OTM, but can have massive gains if it goes in the right direction.

No? or am i wrong to look at the risks behind it.

This post has been edited by ruztynail: Sep 17 2024, 07:00 PM