Diversified Option Selling Portfolio - Options on Futures | futures io social day trading
futures io futures trading


Diversified Option Selling Portfolio
Updated: Views / Replies:62,403 / 1,178
Created: by myrrdin Attachments:78

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 78  
 
Thread Tools Search this Thread
 

Diversified Option Selling Portfolio

  #641 (permalink)
Trading Apprentice
Indonesia
 
Futures Experience: Intermediate
Platform: Zaner360, TWS
Broker/Data: DeCarley, Interactive Brokers
Favorite Futures: Options on Futures, CL, NG, ES
 
Posts: 10 since Apr 2015
Thanks: 59 given, 5 received


myrrdin View Post
There is another trick to avoid inputing a wrong option symbol.

Open the option chain for the contract in Zaner360. It will not show prices, but it will show all option contracts. Click the one you want to sell, and it will appear in the field "order entry".

Best regards, Myrrdin

Indeed, this trick make it even easier to trade options on softs without have to worry inputing the wrong symbol or strike.
Thanks again.

Reply With Quote
 
  #642 (permalink)
Elite Member
Germany
 
Futures Experience: Intermediate
Platform: TWS
Favorite Futures: Options on futures
 
Posts: 129 since Jul 2014
Thanks: 255 given, 121 received


myrrdin View Post
No, I do not pay for datafeed to trade softs.

For selecting trades I work with delayed data. I receive it from Trade Navigator, but I assume there are many sources for delayed data.

Hello Myrrdin

If you have TradeNavigator, where do you get the delayed data from?

I am with IB (TWS), but I am considering to buy TradeNavigator. But it seems to me I have to order the datafeed as well for about $60/month.

thanks

Reply With Quote
 
  #643 (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: 1,438 given, 1,290 received
Forum Reputation: Legendary



manuel999 View Post
Hello Myrrdin

If you have TradeNavigator, where do you get the delayed data from?

I am with IB (TWS), but I am considering to buy TradeNavigator. But it seems to me I have to order the datafeed as well for about $60/month.

thanks

Yes, you have to pay a fee. End of day data for Futures costs $38. But I am sure there are a lot of free sources around.

Best regards, Myrrdin

Reply With Quote
The following 2 users say Thank You to myrrdin for this post:
 
  #644 (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: 1,438 given, 1,290 received
Forum Reputation: Legendary


myrrdin View Post
I am currently holding the following positions in the short option portfolio:

LHJ C70
LCJ C126
LCJ P109
WH C4.3

I expect all options to expire worthless, and intend to take profit at 10 or 20 %. I will not be very patient if one of the options moves against me.

I sold the LCJ puts today, and I am happy to have a strangle now. Unfortunately I was not able to sell LH puts - I am looking at the LHJ P60 - at a reasonable price until now .

Best regards, Myrrdin

Rolled the LCJ C126 / P109 to the LCJ C124 / P106 today. I expect the LCJ contract to expire between 115 and 116.

Best regards, Myrrdin

Reply With Quote
 
  #645 (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: 1,438 given, 1,290 received
Forum Reputation: Legendary

I am currently holding the following positions in the short option portfolio:

LCJ C124
LCJ P106
LCQ P90

I am looking for the following options to sell:

LHM calls: The seasonals show downwards after the end of February, COT data is slightly bearish and fundamentals suggest a cash price at expiry of $76 (instead of a current future price of just below 80).

CTN C90: Depending on how many years you look back seasonals show downwards after end of March / end of April. COT data is extremely bearish.

Best regards, Myrrdin

Reply With Quote
The following 3 users say Thank You to myrrdin for this post:
 
  #646 (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: 1,438 given, 1,290 received
Forum Reputation: Legendary


myrrdin View Post
I am currently holding the following positions in the short option portfolio:

LCJ C124
LCJ P106
LCQ P90

I am looking for the following options to sell:

LHM calls: The seasonals show downwards after the end of February, COT data is slightly bearish and fundamentals suggest a cash price at expiry of $76 (instead of a current future price of just below 80).

CTN C90: Depending on how many years you look back seasonals show downwards after end of March / end of April. COT data is extremely bearish.

Best regards, Myrrdin

Was filled on the CTN C90 at 0.0130.

Best regards, Myrrdin

Reply With Quote
The following user says Thank You to myrrdin for this post:
 
  #647 (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: 1,438 given, 1,290 received
Forum Reputation: Legendary


myrrdin View Post
I am currently holding the following positions in the short option portfolio:

LCJ C124
LCJ P106
LCQ P90

I am looking for the following options to sell:

LHM calls: The seasonals show downwards after the end of February, COT data is slightly bearish and fundamentals suggest a cash price at expiry of $76 (instead of a current future price of just below 80).

CTN C90: Depending on how many years you look back seasonals show downwards after end of March / end of April. COT data is extremely bearish.

Best regards, Myrrdin

Was filled on the LHM C86 at 1.5 .

Best regards, Myrrdin

Reply With Quote
The following user says Thank You to myrrdin for this post:
 
  #648 (permalink)
Trading Apprentice
Indonesia
 
Futures Experience: Intermediate
Platform: Zaner360, TWS
Broker/Data: DeCarley, Interactive Brokers
Favorite Futures: Options on Futures, CL, NG, ES
 
Posts: 10 since Apr 2015
Thanks: 59 given, 5 received


myrrdin View Post
Was filled on the CTN C90 at 0.0130.

Best regards, Myrrdin

Hi Myrrdin, thanks for keep posting your trading journal.

I see that most options on softs like CT are having very thin op interest/ volume along with very wide bid ask spread. Not to mention very low IV right now across the commodities board. Don't you think it is a disadvantage to sell options on them at this moment?

Reply With Quote
The following user says Thank You to iwanjon for this post:
 
  #649 (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: 1,438 given, 1,290 received
Forum Reputation: Legendary


iwanjon View Post
Hi Myrrdin, thanks for keep posting your trading journal.

I see that most options on softs like CT are having very thin op interest/ volume along with very wide bid ask spread. Not to mention very low IV right now across the commodities board. Don't you think it is a disadvantage to sell options on them at this moment?

You are correct, fills are not as good as for corn or beans, and IV is rather low. But I do not like buying options due to the permanent loss of time value, and cotton is very difficult for me to trade via outright futures. Thus, I stay with short options and smaller profits.

As an option seller, you have to take what you get. But it is still possible to make nice profits.

It is important to note that selling cotton calls is a directional trade, whereas Ron's ES System works even if you have no idea about the future price of the S&P index.

Best regards, Myrrdin

Reply With Quote
The following 2 users say Thank You to myrrdin for this post:
 
  #650 (permalink)
Trading Apprentice
Indonesia
 
Futures Experience: Intermediate
Platform: Zaner360, TWS
Broker/Data: DeCarley, Interactive Brokers
Favorite Futures: Options on Futures, CL, NG, ES
 
Posts: 10 since Apr 2015
Thanks: 59 given, 5 received



myrrdin View Post
You are correct, fills are not as good as for corn or beans, and IV is rather low. But I do not like buying options due to the permanent loss of time value, and cotton is very difficult for me to trade via outright futures. Thus, I stay with short options and smaller profits.

As an option seller, you have to take what you get. But it is still possible to make nice profits.

It is important to note that selling cotton calls is a directional trade, whereas Ron's ES System works even if you have no idea about the future price of the S&P index.

Best regards, Myrrdin

I understand what you meant. Lately IV hasn't been too friendly to us options sellers. We can only get what's in front of us, just a few opportunities here and there. LH, ZS may not be that bad right now, also some currencies futures like 6B, 6C but they are too risky for my taste.

Reply With Quote
The following user says Thank You to iwanjon for this post:

Reply



futures io > > > > Diversified Option Selling Portfolio

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

Dec 7

Linda Bradford Raschke: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Webinar: Option Selling with and without insurance w/Carley Garner Big Mike Options on Futures 50 March 24th, 2015 06:52 PM
Portfolio Trader no erocla MultiCharts 1 November 27th, 2014 11:56 AM
"DTS" Diversified Trading System - Anybody out there!? ShaunG Trading Reviews and Vendors 2 July 30th, 2014 06:54 AM
Diversified Trading Systems soch Trading Reviews and Vendors 3 February 18th, 2013 10:12 PM
Portfolio Construction dgresens Psychology and Money Management 3 October 25th, 2012 04:33 AM


All times are GMT -4. The time now is 04:27 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-11-18 in 0.07 seconds with 19 queries on phoenix via your IP 54.196.47.128