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Selling Options on Futures?
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Selling Options on Futures?

  #141 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
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Favorite Futures: Options on Futures
 
Posts: 2,680 since Jul 2011
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SB margin is dropping by 17% for Thursday.

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  #142 (permalink)
Trading for Fun
Huntsville AL/USA
 
Futures Experience: Intermediate
Platform: optionsXpress
Favorite Futures: Options on Futures
 
Posts: 54 since May 2012
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ron99 View Post
Raven,
What rules do you use to exit losing positions?

I try to use a mental stop of -100% loss on an individual trade. I stuggle though because I have seen prices jump around for no real good reason. Example, an order might come through and a postion goes from -50% to -120% and then back to -50%.

I believe a 100% mental stop loss was one of Cordier's recommendations.

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  #143 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 2,680 since Jul 2011
Thanks: 777 given, 4,658 received
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Raven View Post
I try to use a mental stop of -100% loss on an individual trade. I stuggle though because I have seen prices jump around for no real good reason. Example, an order might come through and a postion goes from -50% to -120% and then back to -50%.

I believe a 100% mental stop loss was one of Cordier's recommendations.

Yes you can get screwy trades in some options. And sometimes screwy settlements. Gold has bad settlements sometimes.

Because some of the options I sell are at such low prices like 0.30 or 0.03 or less and it is so easy to have the premium double or more, I have been more looking at the commodity and deciding if it will go to the point of forcing me to bail on the position. DTE is also considered.

But for the higher priced premiums, 100% is about what I use for them.

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  #144 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 2,680 since Jul 2011
Thanks: 777 given, 4,658 received
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Margins are dropping effective for Wednesday May 30th trading.

CL & GC down 10%. RB down 8%. LH down 16%.

This page is where you can sign up to receive emails about the margin change notices for the CME, CBOT, NYMEX and COMEX.
CME Group Subscription Center

You can sign up for ICE margin change notices to be emailed to you here.
https://www.theice.com/Subscription.shtml

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  #145 (permalink)
Trading for Fun
Huntsville AL/USA
 
Futures Experience: Intermediate
Platform: optionsXpress
Favorite Futures: Options on Futures
 
Posts: 54 since May 2012
Thanks: 80 given, 26 received


ron99 View Post
Margins are dropping effective for Wednesday May 30th trading.

CL & GC down 10%. RB down 8%. LH down 16%.

This page is where you can sign up to receive emails about the margin change notices for the CME, CBOT, NYMEX and COMEX.
CME Group Subscription Center

You can sign up for ICE margin change notices to be emailed to you here.
https://www.theice.com/Subscription.shtml

The total margin required in my account really jumped today. I haven't checked but I think it is because of CL dropping and I have several puts at 65 and 75.

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  #146 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 2,680 since Jul 2011
Thanks: 777 given, 4,658 received
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Raven View Post
The total margin required in my account really jumped today. I haven't checked but I think it is because of CL dropping and I have several puts at 65 and 75.

The margin on a Sep CL 65 put went up by 27% from Wed to Thur.

I don't know what month you have 75s on, but I'm sure they went up more than that.

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  #147 (permalink)
Trading for Fun
Huntsville AL/USA
 
Futures Experience: Intermediate
Platform: optionsXpress
Favorite Futures: Options on Futures
 
Posts: 54 since May 2012
Thanks: 80 given, 26 received

Ron,
Can you recommend any good sources for the latest on commodity fundamentals and research? I use some of the reports on OX. I like the Hightower report and feeds from the CME group but I am always looking for better analysts.

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  #148 (permalink)
Elite Member
Milton Keynes UK
 
Futures Experience: Intermediate
Platform: Investor/RT, Sierra Chart
Favorite Futures: Futures Options, CL
 
Posts: 156 since Jun 2009
Thanks: 74 given, 115 received

I bailed on my CL puts when the price went down through $101 but still made $200/contract on average.

Now price appears to have stabalized around $91, I am thinking of re-entering on the pullback as I had previously mentioned. The next move could well be back up with the European embargo on Iranian oil starting on 1st July which is likely to heighten geopolitical tension in the area. The downside is further Eurozone fears of contagion and recession which could drag oil prices down further.

I am thinking of 65 and/or 70 strikes which look good for 193/mth and 350/mth respectively.

Brit

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  #149 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 2,680 since Jul 2011
Thanks: 777 given, 4,658 received
Forum Reputation: Legendary


Raven View Post
Ron,
Can you recommend any good sources for the latest on commodity fundamentals and research? I use some of the reports on OX. I like the Hightower report and feeds from the CME group but I am always looking for better analysts.

There aren't many sources for good info. I read the Dow Jones stuff on OX to get a feel for current thoughts on commodities. I check Hightower occasionally. I check what Cordier is saying.

I do google searches (news) for quotes by these knowledgeable analysts. John Kemp. Tim Evans. Oliver Jakob.

I ignore everything said by Phil Flynn, John Kilduff & Shawn Hackett. They don't know what they are talking about.

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  #150 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 2,680 since Jul 2011
Thanks: 777 given, 4,658 received
Forum Reputation: Legendary



britkid99 View Post
I bailed on my CL puts when the price went down through $101 but still made $200/contract on average.

Now price appears to have stabalized around $91, I am thinking of re-entering on the pullback as I had previously mentioned. The next move could well be back up with the European embargo on Iranian oil starting on 1st July which is likely to heighten geopolitical tension in the area. The downside is further Eurozone fears of contagion and recession which could drag oil prices down further.

I am thinking of 65 and/or 70 strikes which look good for 193/mth and 350/mth respectively.

Brit

I don't understand what you mean by 193/mth. Could you explain?

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