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Selling Options on Futures?


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Selling Options on Futures?

  #811 (permalink)
MJ888
Houston, Texas
 
Posts: 165 since Sep 2012
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Thanks Received: 150

That OX screen looks neat. How did you do that? I can't seem to find the right place to go to set it up. I would like to have that on my separate monitor too. I am guessing that is in Xtend which I am playing around with now. Thanks.

MJ888

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  #812 (permalink)
vmaiya73
Salt Lake City, USA
 
Posts: 88 since Jul 2011
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Ron,

What are your thoughts on the April 13 1740 call for /GC? the delta is -.02 and the probability ITM is only 2% ? DTE is 33 as per TOS

thanks

V

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  #813 (permalink)
 ron99 
Cleveland, OH
 
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785



MJ888 View Post
That OX screen looks neat. How did you do that? I can't seem to find the right place to go to set it up. I would like to have that on my separate monitor too. Thanks.

MJ888

Not in Xtend.

Set up a Watch List with the symbols you want on that grid. Put them in the order you want them on the grid.

Go to Quotes and click on Streaming Charts. Wait for the chart to load.

In the upper right click on Detach.

On the left side click on Watch List twice.

To the right of the words Watch List click on Select WatchList.

Click on the Watch List you set up for this.

To the right of the words Watch List, click on Load Watch List Symbols into Tab/Grid/Slide show view. Click on Grid View.

For my browser I can't put the detached tab on another screen. I just switch back and forth from the charts to MyOX. I also detach the option chains page and have them in a separate tab on my browser. I also detach the Trade Calc page and keep it in a separate tab.

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  #814 (permalink)
 ron99 
Cleveland, OH
 
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785


vmaiya73 View Post
Ron,

What are your thoughts on the April 13 1740 call for /GC? the delta is -.02 and the probability ITM is only 2% ? DTE is 33 as per TOS

thanks

V

While selling that call is OK, the ROI of 1.2% is low. I checked other calls in other months and the ROI is just as low.

I should have checked the ROI before I mentioned I was looking at GC calls.

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  #815 (permalink)
MJ888
Houston, Texas
 
Posts: 165 since Sep 2012
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Thanks Ron. I was able to very quickly set up the OX charts screen on my other monitor. And you are right that it allows me to see all the markets I am following at a glance.

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  #816 (permalink)
 
opts's Avatar
 opts 
NW Florida
 
Experience: Intermediate
Platform: OX and TOS
Trading: Futures Options, Stocks
Posts: 234 since Aug 2012
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Gold info...


Gold's 'Death Cross' Isn't All Investors Are Worried About

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  #817 (permalink)
 britkid99 
Derby UK
 
Experience: Intermediate
Platform: Sierra Chart
Trading: Futures Options, CL
Posts: 175 since Jun 2009
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I closed out an April GC 1450P today. That crazy drop in gold doubled my premium and while it might bounce tomorrow it could also drop further and cost more to close out. Better to be safe than sorry.

The ironical thing was I sold it by accident some weeks ago when I was checking the margin in IB and pressed the "Transmit" button instead of "Cancel". I only realized what had happened when the trade button started flashing

Brit

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  #818 (permalink)
 ron99 
Cleveland, OH
 
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785


britkid99 View Post
I closed out an April GC 1450P today. That crazy drop in gold doubled my premium and while it might bounce tomorrow it could also drop further and cost more to close out. Better to be safe than sorry.

The ironical thing was I sold it by accident some weeks ago when I was checking the margin in IB and pressed the "Transmit" button instead of "Cancel". I only realized what had happened when the trade button started flashing

Brit

Yea a couple of times I have bought instead of sold. Then you rush to correct your dumb mistake.

I see your option is now a 0.1016 delta. Smart thing to jump out. Too close for comfort.

One thing I am noticing is that seasonal moves happen earlier and earlier. GC usually peaks late Feb. This year the peak was early Feb.

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  #819 (permalink)
 
opts's Avatar
 opts 
NW Florida
 
Experience: Intermediate
Platform: OX and TOS
Trading: Futures Options, Stocks
Posts: 234 since Aug 2012
Thanks Given: 29
Thanks Received: 115


britkid99 View Post
I closed out an April GC 1450P today. That crazy drop in gold doubled my premium and while it might bounce tomorrow it could also drop further and cost more to close out. Better to be safe than sorry.

The ironical thing was I sold it by accident some weeks ago when I was checking the margin in IB and pressed the "Transmit" button instead of "Cancel". I only realized what had happened when the trade button started flashing

Brit

Nope...but have almost bought many times. My Droid ap for OX is defaulted to Buy for some reason. I've defaulted it to Sell on the home pc's but on the Droid it's Buy. Glad for the preview order button more than once.

I think you will have a good opportunity later to regain that lost premium to sell puts. If we have a close below 1550 then the next logical target is 1500 per the charts. Crazy few days in GC and CL here.

I saw a bid for the 1820 calls for .30 and had to jump on them.

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  #820 (permalink)
 britkid99 
Derby UK
 
Experience: Intermediate
Platform: Sierra Chart
Trading: Futures Options, CL
Posts: 175 since Jun 2009
Thanks Given: 105
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opts View Post
Nope...but have almost bought many times. My Droid ap for OX is defaulted to Buy for some reason. I've defaulted it to Sell on the home pc's but on the Droid it's Buy. Glad for the preview order button more than once.

I think you will have a good opportunity later to regain that lost premium to sell puts. If we have a close below 1550 then the next logical target is 1500 per the charts. Crazy few days in GC and CL here.

I saw a bid for the 1820 calls for .30 and had to jump on them.

I agree 1550 is a strong support but if it goes we could be down to 1450 before you know it.
I didn't feel too bad about losing the premium as I made 28 ticks shorting the GC futures on the way down.

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