Who Caught This Yesterday?

[james_gsx 16]

I know I did

 

I bought puts, instead of trading the ES. I know, not exactly TL friendly but whatever. I bought July $132 puts at $2.32, now they are trading near $4. Not as big of a gain had I shorted 1 ES contract, but had this trade turned against me it would have been bad.

 

[atto 20]

I was able to catch this too shorting the futures. For these kinds of trades, I use my "high volitility - higher risk" risk rules; lower position size, and aggressive chasing stops. Luckily, I got in at 1334 and had absolutely no heat. I got out at 1324 nearing support from earlier in the day and as intense selling pressure started to die.

 

Managing risk and the trade is important for these kinds of trades, as you mentioned, because when they go against you, it can be brutal.

[brownsfan019 17]

That was a nice trade James. I had some resistance marked there so I also took the short you highlighted.

[ammo 10]

i bought the 130,131 put sprd up there and reversed out of it this morning shorting the 133,131 put sprd and covered on close for a loss,brilliant,i was hoping for an oversold reversal and it never happened

[Mr_black 10]

:helloooo:Who Caught This the day before Yesterday?

[brownsfan019 17]

:helloooo:Who Caught This the day before Yesterday?

 

Seeing that this is the candlestick corner, candlestick charts might be step 1.

 

[atto 20]

Seeing that this is the candlestick corner, candlestick charts might be step 1.

 

I saw you make the same comment on ET when someone asked about a candlestick pattern (and you replied the same). Well played, good sir.

 

(Oh, he's just a Hershey trader, pay no attention )

[james_gsx 16]

Seeing that this is the candlestick corner, candlestick charts might be step 1.

 

 

Whata dick move :o

[Upthrust86 10]

I know I did

 

I bought puts, instead of trading the ES. I know, not exactly TL friendly but whatever. I bought July $132 puts at $2.32, now they are trading near $4. Not as big of a gain had I shorted 1 ES contract, but had this trade turned against me it would have been bad.

 

 

Can you recommend where I might be able to learn about options on the eminis? I'm a real newb for options, but would like to learn about them and trade them on a swing basis.

Thanks

[brownsfan019 17]

I saw you make the same comment on ET when someone asked about a candlestick pattern (and you replied the same). Well played, good sir.

 

(Oh, he's just a Hershey trader, pay no attention )

 

Kinda weird on how on two separate forums there are people commenting about candlesticks yet using bar charts...

 

[james_gsx 16]

Can you recommend where I might be able to learn about options on the eminis? I'm a real newb for options, but would like to learn about them and trade them on a swing basis.

Thanks

 

Before you go out and start trading options on the eminis I would start on the SPY first. You need a solid understanding of all the greeks and how they all work for and against you. Not to mention the options on the futures are expensive, so personally I would rather sell the options and collect the premium while theta and vega work on my side compared to just buying naked calls or puts for short term swing trades. But just about any trading website will talk about options, if you can't find one then investopedia has a lot of stuff, and some good articles on greeks such as position delta, volatility, etc.

[jonbig04 10]

Before you go out and start trading options on the eminis I would start on the SPY first. You need a solid understanding of all the greeks and how they all work for and against you. Not to mention the options on the futures are expensive, so personally I would rather sell the options and collect the premium while theta and vega work on my side compared to just buying naked calls or puts for short term swing trades. But just about any trading website will talk about options, if you can't find one then investopedia has a lot of stuff, and some good articles on greeks such as position delta, volatility, etc.

 

 

 

Word. The options on futures can be pretty nuts. As you said though you can make a decent amount via calendar spreads etc selling premium with theta on your side. Seems easy the first time you do it. It's not. haha I've made and lost my fair share in options. :crap:

[atto 20]

Word. The options on futures can be pretty nuts. As you said though you can make a decent amount via calendar spreads etc selling premium with theta on your side. Seems easy the first time you do it. It's not. haha I've made and lost my fair share in options. :crap:

I think you mean "collecting premium". Regardless, I recommend that newbies never short gamma. You're potentially exposing yourself to extreme risks.

 

As a general rule of thumb, even if you've found an "amazing" options strategy... if it's that easy, the edge would be beaten out long before you get there.

[Guest forsearch]

Before you go out and start trading options on the eminis I would start on the SPY first. You need a solid understanding of all the greeks and how they all work for and against you. Not to mention the options on the futures are expensive, so personally I would rather sell the options and collect the premium while theta and vega work on my side compared to just buying naked calls or puts for short term swing trades. But just about any trading website will talk about options, if you can't find one then investopedia has a lot of stuff, and some good articles on greeks such as position delta, volatility, etc.

 

This [thread=3664]thread on Options[/thread] might have more info for ya.

[ammo 10]

Can you recommend where I might be able to learn about options on the eminis? I'm a real newb for options, but would like to learn about them and trade them on a swing basis.

Thanks

search the cboe.com web pages,there is a ton of free info there they want the business and want educated traders so they are glad to provide the material