Everything Options

Blazin

Creative Title
<Nazi Janitors>
4,420
24,182
121d 13h 10m
So far me selling my 25 QQQ puts at a strike of $310 for June was way too conservative, could have made a lot more money with a more aggressive strike. Less than .50 on them with nearly 20 days to go.
 
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Sanrith Descartes

Log Wizard
<Gold Donor>
17,572
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100d 19h 3m
Wrote puts on T, $28 strike expiring 7/16. Premium was 31 cents.
Backtest shows 28% chance of being assigned. Earnings are 7/22
 
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Fogel

Mr. Poopybutthole
6,888
18,994
243d 2h 2m
Rolled up my PINS 70 11/19 call to 80 11/19 - 4.50 net credit
 

Fogel

Mr. Poopybutthole
6,888
18,994
243d 2h 2m
Sanrith Descartes Sanrith Descartes Thinking about buying some OTM DIS calls for 8/20 - With reopenings and the latest round of marvel stuff coming out in the next couple weeks they should kill earnings. Thoughts?
 

Sanrith Descartes

Log Wizard
<Gold Donor>
17,572
47,212
100d 19h 3m
Sanrith Descartes Sanrith Descartes Thinking about buying some OTM DIS calls for 8/20 - With reopenings and the latest round of marvel stuff coming out in the next couple weeks they should kill earnings. Thoughts?
Do I think the stock can run back up over $200? Yes. Do I promote buying calls? Not normally. If you are long the stock and Gavin finds a way to fuck over DIS again then you can ride it out. If you buy calls and Gavin fucks shit up then your calls can be wasted money. California is such a shitshow that it adds levels of risk that is hard to quantify.

Plus you have earnings on 8/12. Buying calls right after earnings can be squirrely.

the $200 calls have a delta of 0.1271 and a gamma of 0.0114. Can you make money on them? yes. Just watch the risk vs reward.

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Sanrith Descartes

Log Wizard
<Gold Donor>
17,572
47,212
100d 19h 3m
Bought 2 DIS calls 8/20 @190 for 2.09
Just tanked the stock...

BRIEF-Disney+ U.S. Growth Slows Sharply In First Half Of 2021, Internal Data Shows - The Information

BRIEF-Disney+ U.S. Growth Slows Sharply In First Half Of 2021, Internal Data Shows - The Information​


REUTERS 1:30 PM ET 7/2/2021


July 2 (Reuters) -


* DISNEY+ U.S. GROWTH SLOWS SHARPLY IN FIRST HALF OF 2021, INTERNAL DATA SHOWS - THE INFORMATION


* DISNEY+ HAD LITTLE MORE THAN 110 MILLION TOTAL SUBSCRIBERS LATE IN DISNEY'S THIRD FISCAL QUARTER, UP FROM 103.6 MILLION FROM PREVIOUS QUARTER- THE INFORMATION Further company coverage:
 

Fogel

Mr. Poopybutthole
6,888
18,994
243d 2h 2m
Shits weird sometimes. Attempt to sell BCRX puts, current bid ask 1.25 - 1.40, see puts selling for 1.31. Enter order to sell at 1.30 - No hit. Change order to sell to 1.25, order hits with price improvement to 1.31.

So anyway, sold a bunch of BCRX puts 8/[email protected] 15 strike for 1.30 premium
 
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Sanrith Descartes

Log Wizard
<Gold Donor>
17,572
47,212
100d 19h 3m
Every option play I looked at is on the back side of upcoming earnings dates. I hate options during earnings season.
 

Sanrith Descartes

Log Wizard
<Gold Donor>
17,572
47,212
100d 19h 3m
Looks like someone is doing an options spread on T

Notable open interest changes for July 15th (TheFlyOnTheWall)
Wednesday's total option volume of 38.5 million contracts resulted in net open interest growth of 4.37 million calls and 3.61 million puts. Apple(AAPL) , AT&T(T) , AMC Entertainment(AMC) and Bank of America(BAC) saw the greatest growth. Top five new positions opened include 40k AT&T(T) Sep-21 25 puts, 40k AT&T(T) Jul-21 25 calls, 40k AT&T(T) Sep-21 25 calls, 39k AT&T(T) Jul-21 25 puts and 33k Ford (F) Aug-21 16 calls.
 

Sanrith Descartes

Log Wizard
<Gold Donor>
17,572
47,212
100d 19h 3m
Blazin Blazin I have a mechanics question.

So assume some rando option has a bid/ask spread of 0.25 with 150 buyers and 0.35 with 20 sellers. I put a limit order in to buy at 0.30 and the spread changes to 0.30 with 40 sellers and 0.35 with 20 sellers.

Now either all those other offers to buy happened magically at the same time I clicked "submit" or something fucky just happened. What am I missing?
 

Blazin

Creative Title
<Nazi Janitors>
4,420
24,182
121d 13h 10m
Blazin Blazin I have a mechanics question.

So assume some rando option has a bid/ask spread of 0.25 with 150 buyers and 0.35 with 20 sellers. I put a limit order in to buy at 0.30 and the spread changes to 0.30 with 40 sellers and 0.35 with 20 sellers.

Now either all those other offers to buy happened magically at the same time I clicked "submit" or something fucky just happened. What am I missing?
This is common. The bid and ask on options are usually just the market maker and it will sit a little wider than it could be if there is someone wanting an active trade. It's the default idle state. It's why you can see 200 on the bid at 0.30 then it drops all the way to 0.20 and not a single option trades. There was no buyer sitting at 0.30 just waiting to get some it was just the market maker having them available so if someone did want to buy or sell. The moment we put our trades in the computers wake up, they become more interested now they know a fish is nibbling. You can sometimes improve a trade a few cents by playing games with them, I believe I described this before. Several times just keep changing your bid or your ask . Push it till you see you are on the only bid. Then move it back then in again and you can sometimes get the market maker to take your trade at a better price for you.

It just important to remember that the bid and ask sizes and prices you are seeing are not real in the sense you might think they are. There is no sanrith out there sitting at that bid. If you watch all day you can see when the actual trades come along and how the behavior changes. When it's just you it's easiest to see how things are adjusting.