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Diversified Option Selling Portfolio
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Created: by myrrdin Attachments:75

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Diversified Option Selling Portfolio

  #781 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 2,700 since Jul 2011
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ron99 View Post
Today (4/13) I sold a NGq7p250c450 strangle for 0.030. IM is 284.

Today I exited this trade at 0.015. MROI is 10.9%. I used 6xIM. 22 days held.

I exited the call a couple of days ago and exited the put today.

I still have on NGq7p260c450 entered at 0.027 on 4/27.

I still have on NGu7p260c450 entered at 0.043 on 4/27.

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  #782 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 2,700 since Jul 2011
Thanks: 781 given, 4,720 received
Forum Reputation: Legendary

Today 5/5 I sold NGv7c450 for 0.031. I plan on adding puts when price drops.

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  #783 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
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Bought back the CCU P1600 at 50 %, and sold the CCU P1700 at 39. Intend to buy back at 50 %.

Followed Ron in selling the NGV C4.5 .

Best regards, Myrrdin

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  #784 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
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Due to the high volatility, strangles in the LCQ and LCV look interesting.

Eg. I legged into the LEV C130-P100, which is currently available for more than $ 1000.

I assume volatility to come down within the next couple of weeks.

Best regards, Myrrdin

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  #785 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 2,700 since Jul 2011
Thanks: 781 given, 4,720 received
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ron99 View Post
Today 5/5 I sold NGv7c450 for 0.031. I plan on adding puts when price drops.

I added NGv7p255 puts today 5/8 at 0.29.

myrrdin, did you sell these too?

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  #786 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
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Favorite Futures: Commodities
 
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ron99 View Post
I added NGv7p255 puts today 5/8 at 0.29.

myrrdin, did you sell these too?

Yes, I sold the same options. But you did a better job - I was too early and sold them at 0.28.

Best regards, Myrrdin

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  #787 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
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Favorite Futures: Options on Futures
 
Posts: 2,700 since Jul 2011
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myrrdin View Post
Yes, I sold the same options. But you did a better job - I was too early and sold them at 0.28.

Best regards, Myrrdin

They were bid at 0.030 for a little while. I just missed those.

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  #788 (permalink)
Trading for Fun
Minnesota
 
Futures Experience: Intermediate
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Being diversified is almost a nessecity when selling options, from what am learning. I am learning more all the time about selling. You people help me much.
I have much on paper for my own education and only have 4 in a live account.
Live account
ZWU c540 & c490
ZCN c410
GFQ p120

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  #789 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
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Favorite Futures: Commodities
 
Posts: 1,026 since Nov 2014
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TraderGriz View Post
Being diversified is almost a nessecity when selling options, from what am learning. I am learning more all the time about selling. You people help me much.
I have much on paper for my own education and only have 4 in a live account.
Live account
ZWU c540 & c490
ZCN c410
GFQ p120

At the current time of the year, I consider selling options in the grains, especially in corn, as high risk trades. In case there is more (less) rain in the weather forecasts for the US (South Americas) for the next couple of weeks, corn price will move up sharply, as COT data is bullish. The same is true for wheat.

Meat markets currently are hard to predict. I prefer selling strangles in such situations.

Clump risk is high, as these 4 options are closely correlated with each other.

Best regards, Myrrdin

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The following user says Thank You to myrrdin for this post:
 
  #790 (permalink)
Trading for Fun
Minnesota
 
Futures Experience: Intermediate
Platform: Sierra chart
Favorite Futures: Orange juice
 
Posts: 86 since Feb 2017
Thanks: 163 given, 36 received


Thanks for pointing that out.

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