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Selling Options on Futures?
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Selling Options on Futures?

  #461 (permalink)
Elite Member
NW Florida
 
Futures Experience: Intermediate
Platform: OX and TOS
Favorite Futures: Futures Options, Stocks
 
opts's Avatar
 
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Thanks Ron.

Roll Tide!

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  #462 (permalink)
Elite Member
NW Florida
 
Futures Experience: Intermediate
Platform: OX and TOS
Favorite Futures: Futures Options, Stocks
 
opts's Avatar
 
Posts: 234 since Aug 2012
Thanks: 29 given, 107 received

Watching the grains this morning and looking at coffee again.

Will buy back the Mar CL 75 puts today for a lot less than I sold them for.

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  #463 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
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opts View Post
Watching the grains this morning and looking at coffee again.

Will buy back the Mar CL 75 puts today for a lot less than I sold them for.

Grain reports are out at noon ET today instead of 8:30 am ET.

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  #464 (permalink)
Trading for Fun
Reno, USA
 
Futures Experience: Intermediate
Platform: esignal
Favorite Futures: Oil
 
Posts: 70 since Jul 2011
Thanks: 14 given, 9 received

First off I would like to thank everybody who has posted. Selling options is something I have been very interested in as it can lead to nice passive income. I've tried futures trading but unfortunately blew up my account as I would get out of winners to early and let my losers keep losing hoping they would turn around.

Question I have, is anybody on this board using THINKORSWIM to trade options on futures?

thanks for all the help

V

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  #465 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 2,677 since Jul 2011
Thanks: 777 given, 4,649 received
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Welcome vmaiya73.

I looked at them previously. They are not option selling friendly.

I just checked. TOS does not trade futures options in metals, softs, livestock, HO & RB. All they offer is grains, ES, CL & NG.
https://www.tdameritrade.com/investment-products/futures-trading.page#Energy

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  #466 (permalink)
Trading for Fun
Reno, USA
 
Futures Experience: Intermediate
Platform: esignal
Favorite Futures: Oil
 
Posts: 70 since Jul 2011
Thanks: 14 given, 9 received

Appreciate the insight. thanks for the help; picked up James Cordier's book earlier and already about half way thru it. Hoping to start my journey by the summer after a lot of paper trading.

have a great weekend everybody

V

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  #467 (permalink)
Trading for Fun
Houston, Texas
 
Futures Experience: Advanced
Platform: Interactive Brokers, OptionsXpress
Broker/Data: Options Express
Favorite Futures: Options on Futures
 
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vmaiya73 View Post
Appreciate the insight. thanks for the help; picked up James Cordier's book earlier and already about half way thru it. Hoping to start my journey by the summer after a lot of paper trading.

have a great weekend everybody

V

Welcome to this thread vmaiya73. I too got most of my initial options selling education from James Cordier's book way back in 2005.

I too have tried trading futures using different strategies but the pure randomness is too much to handle. I would get stopped out very often. I have also tried trading stock and stock options but in the end I always come back to selling options on commodities because over the years it has been remarkably profitable on a consistent basis. Also, if done properly (mainly selecting deep out of the money strikes) selling options should not be stressful. There is no need to be glued to your computer screen. I often go days, even weeks without placing any trades.

IMO, selling deep OTM options is a fantastic way to earn income for people who have a regular job.

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  #468 (permalink)
Trading for Profit
new york
 
Futures Experience: Intermediate
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MJ888 View Post
Welcome to this thread vmaiya73. I too got most of my initial options selling education from James Cordier's book way back in 2005.

I too have tried trading futures using different strategies but the pure randomness is too much to handle. I would get stopped out very often. I have also tried trading stock and stock options but in the end I always come back to selling options on commodities because over the years it has been remarkably profitable on a consistent basis. Also, if done properly (mainly selecting deep out of the money strikes) selling options should not be stressful. There is no need to be glued to your computer screen. I often go days, even weeks without placing any trades.

IMO, selling deep OTM options is a fantastic way to earn income for people who have a regular job.

hi
How can you sell OTM options on futures ?
I use TOS, and was wondering of a good place to do options on futures. They are ok with stock options, but not so much on futures options.

Also, I cannot sell options at TOS unless I own the stock or have a certain amount of capital. How does that work when selling options on futures ?

thanks
shane

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  #469 (permalink)
Elite Member
Milton Keynes UK
 
Futures Experience: Intermediate
Platform: Investor/RT, Sierra Chart
Favorite Futures: Futures Options, CL
 
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Closed out 4 of my KC 120 puts for 0.0003 today. Originally sold for 0.0030 so 90% gain (less commissions) with 4 weeks still to go.

I have been trying to buy back over the past couple of days at 0.0005/6 but no takers. Today there was no bid at all until I put mine in and it eventually got hit at the close. Quite surprising to see with todays advance.

On the chart we made another HH and HL and todays advance was mainly due to sellers at the 150 area, who had been holding divergently, capitulating and buying to cover as stops are hit. This is evidenced by the vertical nature of the last few delta bars, that is short covering in a hurry not new buyers coming in.

If we can push through the 155 area there is a ton of shorts still holding which will propel us even higher if they all start to cover.

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  #470 (permalink)
Trading for Profit
new york
 
Futures Experience: Intermediate
Platform: X Trader, Sierra Charts, Multicharts
Broker/Data: AMP/TT, Vision/Rithmic, AMP/CQG
Favorite Futures: CL, NG, gold
 
Posts: 355 since Mar 2012
Thanks: 665 given, 569 received



britkid99 View Post
Closed out 4 of my KC 120 puts for 0.0003 today. Originally sold for 0.0030 so 90% gain (less commissions) with 4 weeks still to go.

I have been trying to buy back over the past couple of days at 0.0005/6 but no takers. Today there was no bid at all until I put mine in and it eventually got hit at the close. Quite surprising to see with todays advance.

On the chart we made another HH and HL and todays advance was mainly due to sellers at the 150 area, who had been holding divergently, capitulating and buying to cover as stops are hit. This is evidenced by the vertical nature of the last few delta bars, that is short covering in a hurry not new buyers coming in.

If we can push through the 155 area there is a ton of shorts still holding which will propel us even higher if they all start to cover.


Well done !
what platform is that allowing you to set ticks for renko bars ?

good work !

shane

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