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Let us trade options on futures
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Let us trade options on futures

  #1 (permalink)
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Let us trade options on futures

Hi

Any body which is interested in that subject and trading is welcome to join this thread.

Most simple strategy: Spreads.

Did you hear the laugh in the background from the pros witch sell this information?

Any comments on Credit Spreads?

We all know, that any information we will get on option trading are very well protected and only available when we pay huge money for little what we get.

Is any body out there, which likes to share information in an open forum about option trading on futures in the USA?

Delta_Panther

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  #3 (permalink)
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I started with options on TOS. But there doesn't seem to much support for options on futures on a majority of the popular platforms. Options Express has the most listings but their charting leave a lot to be desired, and their simu trading doesn't support options on futures. There is plenty of support for options on equities and ETF's but not on futures or a very limited offering.

Tiberius has posted a few more complex spreads in his journal, which has since been moved to the elite section. https://futures.io/elite-trading-journals/8393-started-journal-because-14.html#post137384
My own journal , I've been doing calendars on ETF's and adjusting them with an occasional BWB or IC.

There was this thread on selling options on futures by ron99. He also said he was a client of Managed Stock Option Selling with Option Trading Strategies , an equity firm that manages a fund by selling options on futures. But not much about credit spreads discussed. https://futures.io/commodities-futures-trading/12309-selling-options-futures.html

And you make a good point about professional option strategies being guarded commercially. I once asked an option trader on another forum about advice and while he gave me a few tips, he also said that mentorship was probably the only way to get really good at it and to pay whatever $ was required. For example he mentioned Sheridan Mentoring mentioned on the CBOE.com page. Although it costs like $4k to get into the program. There is a lot of free stuff out there on what an option is, what certain spreads consist of, but not much on working option strategies or adjusting strategies. And of course scam institutions selling seminars and "advanced seminars" and software.


Last edited by Cloudy; December 11th, 2011 at 07:34 PM.
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Delta_Panther View Post
Hi

Any body which is interested in that subject and trading is welcome to join this thread.

Most simple strategy: Spreads.

Did you hear the laugh in the background from the pros witch sell this information?

Any comments on Credit Spreads?

We all know, that any information we will get on option trading are very well protected and only available when we pay huge money for little what we get.

Is any body out there, which likes to share information in an open forum about option trading on futures in the USA?

Delta_Panther

Delta,
PFG has a room dedicated to futures options. google it.

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Hi Cloudy

Will check the thread from ron99. Thanks to spot on it. .

As you mention mentors, let us try to collect some information here which can save us money before we spend to much on them. The idea of the thread is to improve our knowledge about this way of trading..Depending on how deep some body will get in this kind of trading, there will be a level he may really has to contact a mentor. But as better as some body is prepared as quicker he can move on with his mentor in such a case.

Hi meyer99

PFG is surely a company to trade with when it comes to options on futures. Paul Forchone is one of the top notches there when it comes to it.. My first book I was reading about O on F was from him. It was called: Trading Options Visually. I only can recommend it as it really describes option trading on futures. It surely will bring up newbies to the next level.Learn to Trade Options with Paul Forchione and PFGBEST | Books

I did not know, that PFG had this Option Room.Just signed in.

In the past, I had a look at DiscoveryOptions: Welcome to Discover Options For quit a time they had a free tool which was called the market huddle. It was mostly about option strategies on stocks and how to use OpVue, which is there software. Today you already have to pay a few houndert USD to watch this market huddles.

What I really can recogmend from them is the Educational part: Educational Articles A lot of interesting articles in dept about option trading.

An other source I used was this: Options Trading Education Resources from John Summa.

Books I can recommend and I will do only two more, as I already mentioned the one from Paul Forchone, which will be already quit difficult for beginners. But the book informs about all the essential things in option on future trading like:
- The options greek,
- How to use implied and historical volatility,
- Delta trading and
- Specially also the adjustment of different option strategies.
Not many books do explain this adjustments. They are not so difficult but most already handle it as some thing they only show when paid a lot of money.

The next book I recommend is:

The bible of option strategies from Guy Cohen ( When you are new to options, you will be confronted with many different kind of strategies and you will have questions and questions. This book will give you a quick overview about the most known options strategies with simple answers. Very useful and easy to use.)

And the last one is:

The complete guide to option selling from James Cordier and Michael Gross ( As many speak about how profitable options selling is, this book is a must read before doing so. Every thing you need to know about option selling.)

If you want to move on from here, you will check J.L.Lords books about options trading. If you have already understood the basic O on F trading, this books will fine tune your understanding about it.

Thats enough for today from my side.

Delta_Panther

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Thanks for the info and links about Forchione's books. I wasn't aware of them. Sometimes on CNBC 5-6pm they have these interesting option plays. Here's one that worked a couple months ago. Basically a directional play call vertical with a short put to limit losses to the downside for a few points..

update:
Wow, just got an email from TD Ameritrade. about upcoming changes to the TOS platform "soon".
http://www.youtube.com/watch?v=wWxHjG8rTNM

including calendar spreads on futures, and pairs trading interface, more global forex features.

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Let us trade options on futures-intc_121211.jpg  

Last edited by Cloudy; December 12th, 2011 at 03:19 PM.
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Cloudy View Post
Thanks for the info and links about Forchione's books. I wasn't aware of them. Sometimes on CNBC 5-6pm they have these interesting option plays. Here's one that worked a couple months ago. Basically a directional play call vertical with a short put to limit losses to the downside for a few points..

Did you analyze this idea by your self or did you just take the trade because it was recommended by them?

Do not follow such shows. They are shows and nothing else.

Delta_Panther

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If you saw the .jpg it is analyzed. Of course, I'm not advocating following trades on CNBC without one doing their own analysis and judgement. This tip came from CNBC's strategy segment and was very specific and an option spread I hadn't seen before. So sometimes I keep a record of strange and different spreads I hadn't seen before from the show. And sometimes interviews they do of traders on the NYSE floor can offer some perspective. In general I watch CNBC for up to the minute news and some coverage of live events and some entertaiment (gifts for Mandy, Cramer, political Kudlow).


Last edited by Cloudy; December 12th, 2011 at 04:58 PM.
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Hi Delta_Panther, are you live trading options? Do most options incur commission cost for a trade? Are there those who just earn from the spread?

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jonc View Post
Hi Delta_Panther, are you live trading options? Do most options incur commission cost for a trade? Are there those who just earn from the spread?

Hi Jonc

Yes, I do trade options. Used to do it in earlier years on stocks and then changed to options on futures.

Commissions depend on your broker. If you are new to options on futures, I recommend a broker which is able to answer questions from your side. Such broker will charge higher round turn commissions compare to brokers which just offer little service and where the stuff is not educated in option strategies.

Who earns from the spread? ( I guess you mean the bid ask spread )

The one which is between the buyer and the seller is the one which earns from this spread. In pit traded markets it is the guy which works on the trading floor at the exchange and in electronically markets it is the company which offers this service.

By the way: The spreads I mean are called: Credit Spreads.

There are many more like Debit Spreads, Back Spreads, Ratio Spreads, Diagonal Spreads, Calendar Spreads. Each one of this strategy has its use under certain market conditions.

Do you trade some times credit spreads?

Delta_Panther

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