FS_FRA
Member
Whatever blows your skirt up.... -> that's adviceSo what you are saying is that $595 puts are safe and to mortgage my house and sell more?
Definitely advice!
The rest, not so much.
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Whatever blows your skirt up.... -> that's adviceSo what you are saying is that $595 puts are safe and to mortgage my house and sell more?
Definitely advice!
It mainly depends on the outlook for the week ahead and particularly how the Options OI chart is looking. If there's likely to be a big move early in the week or a choppy OI chart then I will hang back and look for things to settle. I can generally still get good premiums with a higher confidence in ranges on Wednesday or even Thursday some weeks. But if I have higher confidence I will open an IC earlier in the week, say Monday or Tuesday if possible as the premiums are better. Tuesday would be more common but its been less predictable of late. Sometimes I will open some positions on a Tuesday and add further on Wednesday with maybe a different range depending on where things have moved.You open your IC usually midweek, correct?
that is very interesting way of looking at it: sum up theta across positions to see overall profitability... and since theta is exponential, then profit will just grow over time. Thanks for the management tip!the Nov -930c cancels out the theta of the dec +900c, the -730c/750c are backed by the +700c, the dec 1200 is a moonshot.
sep 700/600 BPS is for living-money, 710/670BPS this week is for cherry on top
also the -930c were STO @11, BTC order @5 is already placed.that is very interesting way of looking at it: sum up theta across positions to see overall profitability... and since theta is exponential, then profit will just grow over time. Thanks for the management tip!
This is reassuring to read as I'm currently watching all my covered calls go straight to the sky against me. lolBased on existing open interest and current options trading volume, $720 is looking like a solid max pain candidate for this week as of right now.
This is reassuring to read as I'm currently watching all my covered calls go straight to the sky against me. lol
This is reassuring to read as I'm currently watching all my covered calls go straight to the sky against me. lol
Nice, I was thinking the same thing! That 700 wall is huge!Just throwing this out there. I sold a bunch of 9/3 720c (slightly ITM), with the thinking that, "even IF max pain doesn't bring the SP back down to around 700 this week", the 700 call wall during triple-witching (9/17) "should" ensure that I can roll it out for some credit thereby averaging me ~$6/week of profit for the next 3 weeks. That's my most aggressive trade ever! Now to keep fingers crossed.
Followed your lead, BTC p700@3, STO [email protected] on the dip. Thanks for the timing. Edit: Like others, sold CCs too early, [email protected]BTC 53x p720 @$8, $45k realised profit since Friday, too good not to take today
Wait and see if we get a dip before establishing a new position
BallsyNice, I was thinking the same thing! That 700 wall is huge!
EDIT: Ok, I'm in for STO 10x 9/3 $720c
It's a pandemic in this thread.Ballsy
Mark Spitznagel in "The Dao of Capital" recommends a strategy of monthly purchasing put options 2 months out that are 0.5 delta (if 40% IV, 30% OTM ). Target is spending 0.5% on puts every month. The strategy loses small amounts of money regularly, but in times of stress it really prints. As crazy as it sounds, this strategy outperforms the S&P in the long run by 200 basis points, even if it can seemingly underperform for a while.this will seem random, but I was reading today about how to hedge market risk and curious if has anyone ever used or heard of using “unit puts” or OTM VIX calls as a form of hedging black Swan events of large market risk? Apparently this is done by devoting 5-10% of trading capital to shitputs that are insanely cheap, or VIX calls OTM…. Seems pretty sweet idea if I actually knew what the duration and strike distance should look like. The other trick is knowing how to redeem that value during an event.
So - I am having a hard time putting this on a simulation -Mark Spitznagel in "The Dao of Capital" recommends a strategy of monthly purchasing put options 2 months out that are 0.5 delta (if 40% IV, 30% OTM ). Target is spending 0.5% on puts every month. The strategy loses small amounts of money regularly, but in times of stress it really prints. As crazy as it sounds, this strategy outperforms the S&P in the long run by 200 basis points, even if it can seemingly underperform for a while.