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Diversified Option Selling Portfolio
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Created: by myrrdin Attachments:78

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Diversified Option Selling Portfolio

  #201 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, TWS, Vantage
Broker/Data: DeCarley, IAB, RJO
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myrrdin View Post

I rolled my options in the metals up today, and hold now:

SIU P14
SIU C26.5

GCQ P1150

Sold some GCQ C1550 to achieve a strangle.

Best regards, Myrrdin

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  #202 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, TWS, Vantage
Broker/Data: DeCarley, IAB, RJO
Favorite Futures: Commodities
 
Posts: 1,087 since Nov 2014
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Sold the Crude Oil Strangle CLN C54 / P38 according to a suggestion of Carley Garner.

Best regards, Myrrdin

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  #203 (permalink)
Trading Apprentice
Zurich
 
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myrrdin View Post
Sold the Crude Oil Strangle CLN C54 / P38 according to a suggestion of Carley Garner.

Best regards, Myrrdin

Where would I find the suggestions of Carley?

Thanks

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  #204 (permalink)
Trading Apprentice
Zurich
 
Futures Experience: Intermediate
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Favorite Futures: Fesx
 
Posts: 31 since Feb 2011
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myrrdin View Post
.....
I sell naked ES puts (approx. 100 DTE, approx. $400 per option) at the end of each week, and buy them back at 50 %. I will be out if the S&P moves below the 200 dma.

Best regards, Myrrdin

So you select the strikes just by premia, not delta, distance .... ?

Thanks and regards to Austria

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  #205 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, TWS, Vantage
Broker/Data: DeCarley, IAB, RJO
Favorite Futures: Commodities
 
Posts: 1,087 since Nov 2014
Thanks: 1,440 given, 1,290 received
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Forex37 View Post
So you select the strikes just by premia, not delta, distance .... ?

Thanks and regards to Austria

Yes and no. I do not select delta and distance explicitely, but if you choose the underlying future, DTE, and the option price, you end up with delta and distance in a certain order of magnitude. That is good enough for me.

I prefer spending my time selecting different commodities for option selling instead of optimizing parameters. You have to do a lot of backtesting to optimize delta etc., but it is not possible to foresee if the next severe drawdown will look like the one in August 2015 or the one in January 2016 or ... Probably it will look entirely different. So which scenario you should use for backtesting ?

Some time ago I sold options for $200 instead of $400, but had to find out that commissions and fees are too high. This has to be seen in the context that I get out of a short option trade more often than others, eg. Ron. I usually get out when the value of the Option reaches the order of magnitude of 200 % of the original value. The mmore often I get out and in again, the more important are commissions and fees.

I hope this helps. Please feel free to ask again.

Best regards to Switzerland, Myrrdin

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  #206 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
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Broker/Data: DeCarley, IAB, RJO
Favorite Futures: Commodities
 
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Forex37 View Post
Where would I find the suggestions of Carley?

She sends them to her customers. You can also get it from her homepage decarleytrading.com, but I would assume that this offer is limited for some weeks / months.

Best regards, Myrrdin

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  #207 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
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Bought back the LHQ C84 with a profit of approx. 20 %.

Exports were strong recently, and prices in China are extraordinarely high. In case this trend continues, these calls might be in danger. (I still expect these options to expire worthless. But risk / reward do not meet my expectations anymore.)

I placed orders to sell further KCU calls which should be filled if the current advance of the coffee price continues.

Best regards, Myrrdin

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  #208 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
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Favorite Futures: Commodities
 
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Sold the KCU C170, and placed further orders for the KCU C180 and KCU C190.

Volatility of the Brazilian currency, worries about dryness in Vietnam, and short covering are the cause for the current move up of the Coffee price. But the upcoming Coffee crop in Brazil will be huge ...

Seasonally coffee price should move downwards until the second half of June.

Next critical phase will be the blooming period in Brazil in September / October.

Best regards, Myrrdin


Last edited by myrrdin; May 11th, 2016 at 05:42 AM.
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  #209 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
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Broker/Data: DeCarley, IAB, RJO
Favorite Futures: Commodities
 
Posts: 1,087 since Nov 2014
Thanks: 1,440 given, 1,290 received
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Placed orders to sell the CCU P3000 between approx. 2950 and 3050 for the Juy contract.

S&D data and seasonals favor this trade.

Best regards, Myrrdin

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  #210 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, TWS, Vantage
Broker/Data: DeCarley, IAB, RJO
Favorite Futures: Commodities
 
Posts: 1,087 since Nov 2014
Thanks: 1,440 given, 1,290 received
Forum Reputation: Legendary


Sold the LHN P78 yesterday.

Cash prices should move upwards until approx. 20th of May, and the contract looks undervalued.

I intend to sell again LHQ calls at a significantly higher price level, if I get the chance.

Best regards, Myrrdin

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