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I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.

 
HL Shancken (OP)

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08/20/2013 10:25 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
Hedged strategies are a little more complex but keep the bankroll intact. Careful for the release of the Fed minutes tomorrow. China and Japan are dumping US bonds and rates are sneaking up in spite of Fed printing funny money. Jig is almost up. Be that as it may I have hedged bets on TLT, SPX and DJX.
 Quoting: senobwas




How nice for you.


Again, I have no intention of hedging. As far as timing the market intraday, I cannot do that successfully or otherwise, as I will have to either place my orders before going to work or from 1-1:30 Eastern time. So I don't expect to get good fills. I expect to overpay in the short-term. Perhaps that will not be the case but I am buying longer-dated strikes partially because of my limited market access. If the market sells off hard tomorrow I will not be shorting the hole. If that means that I miss out on an avalanche of selling, so be it. The VIX is relatively low right now and I feel comfortable buying a put here, a couple there, every day we experience an up, sideways, or mildly down market.

I might short some bonds, and TLT would be a way to do it, but those options are pretty pricey. I'd rather short equity indexes, quite frankly. I'm also bearish on oil. Even though in a previous post I think I said I wanted to stay away from oil, I've had bearish thoughts on it for some time and I might just have to short it. There certainly could be a big bang for the buck there, especially if I go the ultrashort route.
Useless Cookie Eater

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08/20/2013 10:26 PM

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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
If u are doing the indexes---spx --etc----dont do anyThing in closer then NOV--or pay a little more-go down a few strike prices to Dec.

Ive seen your name on here for years--if you are report your gains on option profits(many do not)then even some in January
as that pushe the tax consequences back a year--Good luck.

The person who taught me options waited for ripe markets up or down.

His attitude was not to get caught up into the crowds and get whip sawed and miss the move.

He became VERY VERY wealthy.His motto was get on the train and take the ride-just be on the train and ride it for a long way
 Quoting: Anonymous Coward 1553542


"Buy and hold" is long dead.


gekko
Anonymous Coward
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08/20/2013 10:28 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
why not Oct SPY puts and NFLX is due for a big dump
HL Shancken (OP)

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08/20/2013 10:28 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
I would be selling spy calls. I do a lot of options trading. Sell calls on USO.
 Quoting: Anonymous Coward 23288975




It's funny you should mention oil. I just talked about it in my last post. Why do you like to sell calls as opposed to buying puts? I'm not going to do any call selling, as it would be naked and I'm in no position to do that.
HL Shancken (OP)

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08/20/2013 10:30 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
wish you luck - you have more balls than I - the market seems to be rigged - when a clown like cramer can create markets with a tv show - you have to question the validity of the whole
 Quoting: Anonymous Coward 16800654




Truer words were never spoken about the market. But what goes up!....
HL Shancken (OP)

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08/20/2013 10:33 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
If u are doing the indexes---spx --etc----dont do anyThing in closer then NOV--or pay a little more-go down a few strike prices to Dec.

Ive seen your name on here for years--if you are report your gains on option profits(many do not)then even some in January
as that pushe the tax consequences back a year--Good luck.

The person who taught me options waited for ripe markets up or down.

His attitude was not to get caught up into the crowds and get whip sawed and miss the move.

He became VERY VERY wealthy.His motto was get on the train and take the ride-just be on the train and ride it for a long way
 Quoting: Anonymous Coward 1553542




Certainly my favorite post yet on this thread. I definitely like the reinforcement of my strategy. I will not go the way of Livermore.
HL Shancken (OP)

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08/20/2013 10:34 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
Bueller?
 Quoting: HL Shancken


The silence is because you are being foolish.
 Quoting: Useless Cookie Eater




How could you possibly know if I'm being foolish or not?
Chrewman

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08/20/2013 10:38 PM

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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
DcwXzkyNzU1QjA5]
Please tell us in simple terms where the money comes from that gives people that buy puts huge amounts of money if a stock/commodity goes down?


The money comes from the option seller.
OP, why were you shorting an obvious uptrend lol?
HL Shancken (OP)

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08/20/2013 10:39 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
DcwXzkyNzU1QjA5]
Please tell us in simple terms where the money comes from that gives people that buy puts huge amounts of money if a stock/commodity goes down?
 Quoting: Chrewman


The money comes from the option seller.
OP, why were you shorting an obvious uptrend lol?




Because I was a fool!
Chrewman

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08/20/2013 10:43 PM

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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
I would be selling spy calls. I do a lot of options trading. Sell calls on USO.
 Quoting: Anonymous Coward 23288975




It's funny you should mention oil. I just talked about it in my last post. Why do you like to sell calls as opposed to buying puts? I'm not going to do any call selling, as it would be naked and I'm in no position to do that.
 Quoting: HL Shancken


Credit spreads, you know, verticals. Insurance policy for options sellers.
Limit risk. Limited profit, but limited risk.
Useless Cookie Eater

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08/20/2013 10:46 PM

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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
DcwXzkyNzU1QjA5]
Please tell us in simple terms where the money comes from that gives people that buy puts huge amounts of money if a stock/commodity goes down?


The money comes from the option seller.
OP, why were you shorting an obvious uptrend lol?
 Quoting: Chrewman


....a fool and his money are soon parted.


Next question. ppig

Last Edited by Useless Cookie Eater on 08/20/2013 10:47 PM
HL Shancken (OP)

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08/20/2013 10:49 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
I would be selling spy calls. I do a lot of options trading. Sell calls on USO.
 Quoting: Anonymous Coward 23288975




It's funny you should mention oil. I just talked about it in my last post. Why do you like to sell calls as opposed to buying puts? I'm not going to do any call selling, as it would be naked and I'm in no position to do that.
 Quoting: HL Shancken


Credit spreads, you know, verticals. Insurance policy for options sellers.
Limit risk. Limited profit, but limited risk.
 Quoting: Chrewman




Do you know the primary cause of disease? Insurance.


I don't want any insurance. I want good ideas as far as strikes, dates, underlying, etc. I have 3 grand with which I'm going to short indexes, ETFs, etc. I'm going to do so by buying puts (or in the case of reverse ETFs, calls). I'm thinking as another poster suggested, nothing expiring earlier than Dec, and more likely a bit further out than that. I'll probably add money to the account in the coming weeks and perhaps be open to other ideas in the future, but right now I've got 3k to spread around in the short market.
HL Shancken (OP)

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08/20/2013 10:52 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
DcwXzkyNzU1QjA5]
Please tell us in simple terms where the money comes from that gives people that buy puts huge amounts of money if a stock/commodity goes down?


The money comes from the option seller.
OP, why were you shorting an obvious uptrend lol?
 Quoting: Chrewman
 Quoting: Useless Cookie Eater


....a fool and his money are soon parted.


Next question. ppig




And so we were! I don't know anything about you, cookie, but I can tell you're a great guy. Welcome to GLP!
Useless Cookie Eater

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08/20/2013 10:55 PM

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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
DcwXzkyNzU1QjA5]
Please tell us in simple terms where the money comes from that gives people that buy puts huge amounts of money if a stock/commodity goes down?


The money comes from the option seller.
OP, why were you shorting an obvious uptrend lol?
 Quoting: Chrewman


....a fool and his money are soon parted.


Next question. ppig
 Quoting: Useless Cookie Eater




And so we were! I don't know anything about you, cookie, but I can tell you're a great guy. Welcome to GLP!
 Quoting: HL Shancken


I trade just about every week day...but sometimes not....depends on any setups.
Listen to what some of the people are telling you on here...especially about bucking the trend.
...and MONEY MANAGEMENT.

You have MUCH to learn grasshopper.
BTW....I've been on GLP for quite a while now. lol

Last Edited by Useless Cookie Eater on 08/20/2013 10:56 PM
Curve Trader

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08/20/2013 10:59 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
TM oct 115 puts
HL Shancken (OP)

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08/20/2013 11:03 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
DcwXzkyNzU1QjA5]
Please tell us in simple terms where the money comes from that gives people that buy puts huge amounts of money if a stock/commodity goes down?


The money comes from the option seller.
OP, why were you shorting an obvious uptrend lol?
 Quoting: Chrewman


....a fool and his money are soon parted.


Next question. ppig
 Quoting: Useless Cookie Eater




And so we were! I don't know anything about you, cookie, but I can tell you're a great guy. Welcome to GLP!
 Quoting: HL Shancken


I trade just about every week day...but sometimes not....depends on any setups.
Listen to what some of the people are telling you on here...especially about bucking the trend.
...and MONEY MANAGEMENT.

You have MUCH to learn grasshopper.
BTW....I've been on GLP for quite a while now. lol
 Quoting: Useless Cookie Eater




Well, as a trader, you know that 90% of individual traders are net losers. Trusting my intuition, I have the highest confidence that you are in that tiny 10% of traders who kick Goldman's ass every day of the week. Going out on a limb, I'm also going to guess that you are a Texas Hold Em player who rakes in the chips on a very consistent basis. I also tend to believe that your car is a Maserati, your girlfriend is a Sports Illustrated model, and your favorite movie is either The Matrix or Fight Club. Can we be pals?
Anonymous Coward
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08/20/2013 11:06 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
First I want to say that I am an experienced options buyer. I have no interest in selling puts or calls, naked or covered. I have no interest in complex trades. I buy and sell calls and puts, and that's it. I place directional bets and let the chips fall where they may. Being eternally pessimistic about the future of the economy now that the Communists have more or less officially taken over, I am and have been for a long time only inclined to short this market. It took me until 2010 to finally run out of money shorting this market and I have not made a trade since. Now I have raised a very small stake and I intend to short it again. Before you admonish me to be careful or try to explain how rigged the market is, let me just say that buying puts or calls is inherently very dangerous to the wallet, but it is a way to put your money where your mouth is, and sometimes that pays off in a big way. The markets, I know, are to a great degree rigged. It is true that our current state of affairs could go on indefinitely, as Nyquist warned in one of his recent columns, but there are also reasons to believe that it will not, and in fact it could be that a collapse is imminent, as so many GLP and Zerohedge headlines proclaim (and have throughout this multiyear great bull run).

This will be the first time trading options and stocks that I won't be in front of a computer during market hours. This could be for the best, for it will force me into longer-dated strikes.

Suggestions more or less wanted.
 Quoting: HL Shancken


I think it you would do well to add some SLV calls too: I'm long Oct 26's and April 30's. Good luck!
HL Shancken (OP)

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08/20/2013 11:08 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
TM oct 115 puts
 Quoting: Curve Trader




That's a juicy one I see. What a gappy chart! I think I might do better, though, with Jan 100s, and at a bit lower price than the $1.50 the Octobers are going for. That is, of course, unless you know something I don't. And if, say, you did, you were to tell me.
HL Shancken (OP)

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08/20/2013 11:14 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
First I want to say that I am an experienced options buyer. I have no interest in selling puts or calls, naked or covered. I have no interest in complex trades. I buy and sell calls and puts, and that's it. I place directional bets and let the chips fall where they may. Being eternally pessimistic about the future of the economy now that the Communists have more or less officially taken over, I am and have been for a long time only inclined to short this market. It took me until 2010 to finally run out of money shorting this market and I have not made a trade since. Now I have raised a very small stake and I intend to short it again. Before you admonish me to be careful or try to explain how rigged the market is, let me just say that buying puts or calls is inherently very dangerous to the wallet, but it is a way to put your money where your mouth is, and sometimes that pays off in a big way. The markets, I know, are to a great degree rigged. It is true that our current state of affairs could go on indefinitely, as Nyquist warned in one of his recent columns, but there are also reasons to believe that it will not, and in fact it could be that a collapse is imminent, as so many GLP and Zerohedge headlines proclaim (and have throughout this multiyear great bull run).

This will be the first time trading options and stocks that I won't be in front of a computer during market hours. This could be for the best, for it will force me into longer-dated strikes.

Suggestions more or less wanted.
 Quoting: HL Shancken


I think it you would do well to add some SLV calls too: I'm long Oct 26's and April 30's. Good luck!
 Quoting: Anonymous Coward 8869251



Silver has certainly been on a tear as of late, but I think I'm going to stick with physical, which I have in a small amount. But now that I look at how cheap the calls are it might be worth a bit of a ponder. Still and all, I think PMs are for holding in your hands. I might do the Apr14 but I think I'll pass on the Oct13
Anonymous Coward
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08/20/2013 11:22 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
I would be selling spy calls. I do a lot of options trading. Sell calls on USO.
 Quoting: Anonymous Coward 23288975




It's funny you should mention oil. I just talked about it in my last post. Why do you like to sell calls as opposed to buying puts? I'm not going to do any call selling, as it would be naked and I'm in no position to do that.
 Quoting: HL Shancken


Very good question. There is substantial premium already built into the puts, in other words people are anticipating a downside move. The value isn't there. Oil is going to decline until there is a serious war in the middle east.
HL Shancken (OP)

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08/20/2013 11:33 PM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
I would be selling spy calls. I do a lot of options trading. Sell calls on USO.
 Quoting: Anonymous Coward 23288975




It's funny you should mention oil. I just talked about it in my last post. Why do you like to sell calls as opposed to buying puts? I'm not going to do any call selling, as it would be naked and I'm in no position to do that.
 Quoting: HL Shancken


Very good question. There is substantial premium already built into the puts, in other words people are anticipating a downside move. The value isn't there. Oil is going to decline until there is a serious war in the middle east.
 Quoting: Anonymous Coward 23288975




Another guy mentioned going short Toyota via Oct 125 puts. I was thinking of Jan100s. Do you have an opinion on that?

Thanks for explaining that premiums are historically high on oil puts. I agree that oil continues down, but then again, I know that the Russian government taxes oil produced there at the rate of 100% for every penny over $25/bbl, and that Russia is the number one producer in the world and number 2 exporter. I also know that they have every reason to do anything they possibly can to keep the price high for as long as they can, and it is my belief that they are involved in rigging the oil market to the greatest degree they possibly can. So I've tended to stay away from oil for the most part. Russia is a powerful criminal player in the world financial markets, as is their state partner in crime, China.

I would like to pick up some SDS calls. What do you recommend, if anything?
Chrewman

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08/20/2013 11:46 PM

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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
TM oct 115 puts
 Quoting: Curve Trader




That's a juicy one I see. What a gappy chart! I think I might do better, though, with Jan 100s, and at a bit lower price than the $1.50 the Octobers are going for. That is, of course, unless you know something I don't. And if, say, you did, you were to tell me.
 Quoting: HL Shancken


You seem like a good natured character. I trade most everyday, or I should say I'm at my trade desk every day. If you insist on buying puts, all in, if it were me doing this lotto play, I'd buy index puts, use an etf if you like. I'd buy a spread, lotto style. So, say start in Nov, do 30% in high delta puts, >95. for the low premium, less theta decay, then go out to Jan and take 30% in aprox delta 20s, not less than delta 20, so 21, 22 is ok. Then go out to March, and hit the rest in delta 20 puts.
Now, if we fall slow and steady your high deltas will start making loot right away. And if we continue going down, the 20's that far out will start going green also. Should we get a good hard slam down, you'll make a killing on the 20's from expanding IV and the price move.
IMHO, play smart, employ a strategy, get a grip on the math and put the odds on your side. Be frugal, live to fight another day. Often times the best trade is the one you don't take. Good luck.

Cheers
Anonymous Coward
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08/21/2013 12:00 AM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
A sentence I thought Id never say

''I hope you are trolling''
HL Shancken (OP)

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08/21/2013 12:05 AM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
TM oct 115 puts
 Quoting: Curve Trader




That's a juicy one I see. What a gappy chart! I think I might do better, though, with Jan 100s, and at a bit lower price than the $1.50 the Octobers are going for. That is, of course, unless you know something I don't. And if, say, you did, you were to tell me.
 Quoting: HL Shancken


You seem like a good natured character. I trade most everyday, or I should say I'm at my trade desk every day. If you insist on buying puts, all in, if it were me doing this lotto play, I'd buy index puts, use an etf if you like. I'd buy a spread, lotto style. So, say start in Nov, do 30% in high delta puts, >95. for the low premium, less theta decay, then go out to Jan and take 30% in aprox delta 20s, not less than delta 20, so 21, 22 is ok. Then go out to March, and hit the rest in delta 20 puts.
Now, if we fall slow and steady your high deltas will start making loot right away. And if we continue going down, the 20's that far out will start going green also. Should we get a good hard slam down, you'll make a killing on the 20's from expanding IV and the price move.
IMHO, play smart, employ a strategy, get a grip on the math and put the odds on your side. Be frugal, live to fight another day. Often times the best trade is the one you don't take. Good luck.

Cheers
 Quoting: Chrewman



NOV high delta puts are too rich for my blood, but I see where you're coming from. As for Jan, I can get some SPY 150 puts for the delta you recommend that will cost me $2.50 each. For Mar we're looking at the 102s, and they cost $00.24 each. What If I skip November and buy 5 Jan, 20 Mar, and have the rest to put into something else? I have to go to bed but would appreciate a comment on this at your leisure.
Useless Cookie Eater

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08/21/2013 12:06 AM

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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
...


....a fool and his money are soon parted.


Next question. ppig
 Quoting: Useless Cookie Eater




And so we were! I don't know anything about you, cookie, but I can tell you're a great guy. Welcome to GLP!
 Quoting: HL Shancken


I trade just about every week day...but sometimes not....depends on any setups.
Listen to what some of the people are telling you on here...especially about bucking the trend.
...and MONEY MANAGEMENT.

You have MUCH to learn grasshopper.
BTW....I've been on GLP for quite a while now. lol
 Quoting: Useless Cookie Eater




Well, as a trader, you know that 90% of individual traders are net losers. Trusting my intuition, I have the highest confidence that you are in that tiny 10% of traders who kick Goldman's ass every day of the week. Going out on a limb, I'm also going to guess that you are a Texas Hold Em player who rakes in the chips on a very consistent basis. I also tend to believe that your car is a Maserati, your girlfriend is a Sports Illustrated model, and your favorite movie is either The Matrix or Fight Club. Can we be pals?
 Quoting: HL Shancken


Yep....most of them do lose all their money.
I paid my dues early on as well, but I considered it tuition and didn't repeat mistakes...although I STILL get snagged sometimes and that's when the money management saves your ass.

As for gambling.....I don't play anything....only Blackjack.
When I do hit a casino I approach it much the same way as trading. The trend is your friend. ALWAYS.
Thus far I have not lost yet at any Blackjack table.
I always come out with 3-4 times more than I come in with.
...but I rarely hit casinos. It's a waste of time to me overall.
Yes also...that Matrix is one of the best....and yes.... don't drive a Honda Civic.
I wouldn't anyway. lol scared

Last Edited by Useless Cookie Eater on 08/21/2013 12:07 AM
Anonymous Coward
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08/21/2013 12:16 AM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
I would be selling spy calls. I do a lot of options trading. Sell calls on USO.
 Quoting: Anonymous Coward 23288975




It's funny you should mention oil. I just talked about it in my last post. Why do you like to sell calls as opposed to buying puts? I'm not going to do any call selling, as it would be naked and I'm in no position to do that.
 Quoting: HL Shancken


Very good question. There is substantial premium already built into the puts, in other words people are anticipating a downside move. The value isn't there. Oil is going to decline until there is a serious war in the middle east.
 Quoting: Anonymous Coward 23288975




Another guy mentioned going short Toyota via Oct 125 puts. I was thinking of Jan100s. Do you have an opinion on that?

Thanks for explaining that premiums are historically high on oil puts. I agree that oil continues down, but then again, I know that the Russian government taxes oil produced there at the rate of 100% for every penny over $25/bbl, and that Russia is the number one producer in the world and number 2 exporter. I also know that they have every reason to do anything they possibly can to keep the price high for as long as they can, and it is my belief that they are involved in rigging the oil market to the greatest degree they possibly can. So I've tended to stay away from oil for the most part. Russia is a powerful criminal player in the world financial markets, as is their state partner in crime, China.

I would like to pick up some SDS calls. What do you recommend, if anything?
 Quoting: HL Shancken


Hmmm... I don't know much about Toyota or SDS honestly. I'm more of a macro trader, and I follow a few companies. I think the nikkei is a good short, I would be more aggressive with that and buy puts instead of selling calls. I would just be careful with puts since everyone is anticipating a decline, no reason to throw money away.
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08/21/2013 12:39 AM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
Often a 1-5 trade using the SPX : OEX can be put on for near even money on the buy : sell and offers insurance that doesn't require watching. I frequently will hold 1K+ shares of my favorite stock or ETF, sell the OTM calls and use the proceeds to buy a butterfly put hedge to the downside... makes money in either direction, requires little maintenance until expiration week, etc. Just a thought.
Useless Cookie Eater

User ID: 29696048
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08/21/2013 12:40 AM

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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
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It's funny you should mention oil. I just talked about it in my last post. Why do you like to sell calls as opposed to buying puts? I'm not going to do any call selling, as it would be naked and I'm in no position to do that.
 Quoting: HL Shancken


Very good question. There is substantial premium already built into the puts, in other words people are anticipating a downside move. The value isn't there. Oil is going to decline until there is a serious war in the middle east.
 Quoting: Anonymous Coward 23288975




Another guy mentioned going short Toyota via Oct 125 puts. I was thinking of Jan100s. Do you have an opinion on that?

Thanks for explaining that premiums are historically high on oil puts. I agree that oil continues down, but then again, I know that the Russian government taxes oil produced there at the rate of 100% for every penny over $25/bbl, and that Russia is the number one producer in the world and number 2 exporter. I also know that they have every reason to do anything they possibly can to keep the price high for as long as they can, and it is my belief that they are involved in rigging the oil market to the greatest degree they possibly can. So I've tended to stay away from oil for the most part. Russia is a powerful criminal player in the world financial markets, as is their state partner in crime, China.

I would like to pick up some SDS calls. What do you recommend, if anything?
 Quoting: HL Shancken


Hmmm... I don't know much about Toyota or SDS honestly. I'm more of a macro trader, and I follow a few companies. I think the nikkei is a good short, I would be more aggressive with that and buy puts instead of selling calls. I would just be careful with puts since everyone is anticipating a decline, no reason to throw money away.
 Quoting: Anonymous Coward 23288975


There will be no decline until Bernanke stops printing.
....then?
...all HELL could break loose.

Which is a once in a lifetime opportunity itself.

bmoney

Last Edited by Useless Cookie Eater on 08/21/2013 12:41 AM
Anonymous Coward
User ID: 38427070
08/21/2013 12:46 AM
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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
word from the wise:

NEVER SHORT MARKETS

youll lose 8 out 10 times, as you have found out.
Useless Cookie Eater

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08/21/2013 12:55 AM

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Re: I Am Going to Buy Puts Totaling $3,000 This Week. GLP Invited to Suggest Underlying, Strikes, Dates, Etc.
word from the wise:

NEVER SHORT MARKETS

youll lose 8 out 10 times, as you have found out.
 Quoting: Anonymous Coward 38427070


Shorting was not the problem in and of itself.
He shorted against the trend.

He was asking to be fleeced.

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