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Day Trading Options
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Created: by ESFXtrader Attachments:50

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Day Trading Options

  #61 (permalink)
Elite Member
san francisco
 
Futures Experience: Beginner
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Maisie's Avatar
 
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i have been daytrading weeklies for 2 yrs. just make sure u keep to a tight spread, 2% or less. and you need liquidity. often these two do not go hand in hand.

these options can blow up in yr face, esp short side of spread, when u may feel u bot yr protection (long side) from the girl scouts rather than the mafia. be careful.

Du sublime au ridicule, il n'ya qu'un pas. ~Napoleon Bonaparte
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  #62 (permalink)
Trading for Profit
West Coast of Florida
 
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Day Trading Options

Where have all the traders gone, where have they gone?
Is there anyone taking a screen shot of options' pricing (as I once suggested)? If so, try it on fast moving stocks with options (with strike prices at increments of $1)? Consider buying (out of the money) OTM options at a ridiculously low price of just pennies. A list of some great Symbols to check out are included on a screen shot. I am also including a screen shot of Time & Sales of FAS and IBM. These are all CALLs. It works the same way on PUTs.
No one will ever get it perfect. If you had on Friday on the FAS, in just 4 trades you would have multiplied your original investment more than 4639 times less commissions. Note that the highest price for an option paid was .15.
If you had bought 20 contracts at $12 each=$240 risk that moved to a high traded of $34 or $680. With $679, you could buy 97 contracts at $7 each which moved to a high of $20 or $1940. With $1936, you could buy 176 contracts at $11 each = $1936 which moved to a high of $25 or $$4400. With $4395, you could buy 293 contracts at $15 each or $4395 which move to a high of $38 or $11,134. The screen shot shows just what I have described. This is just one symbol on one day. The best moves comes on the last day the contract trades, be it weekly or monthly. Next best day is the previous day, and so on.
Look at the IBM chart of 185 calls and see that the option price of 4 cents moved to .40.
If you have never considered trading options, maybe now is the time.
Hope this helps and good success in all your trading.
WK

Attached Thumbnails
Day Trading Options-bigmoversymbols_with_option_strikes_of_a_differential_of_-1.png   Day Trading Options-2013-11-22fastime-sales-84calloptions.png   Day Trading Options-2013-11-22ibm_optionsales.05-.33-max.37.png  

Last edited by ESFXtrader; November 24th, 2013 at 01:25 AM.
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  #63 (permalink)
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Seattle WA/USA
 
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Well its easy to show after the fact but its difficult to pick before hand. Also, primarily it depends on what the indexes are doing. If the indexes are rallying like crazy, sure chances are the stocks you picked will go up like you illustrated below. But when the indexes are not, then it is difficult to pick them.

Howeve, if you do have a way to pick these Friday morning, let us know and I will be the first person to try them out. Better yet, the next few Fridays, post a few trades in the am and lets see what happens by end of day. If you have 60% accuracy, that should work I guess.

 
  #64 (permalink)
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180 PUT

hello ESFXtrader....could you post the IBM 180 PUT Strike price chart and also the Range for the strikes prices for Friday 11-22-13 just like you did in your last post.
I do not have access to the Option Strike price charts like i use to as i was also heavy into this type trading.
I am still in search of a platform that allows me to view these Option Strike Price charts for a particular Strike as they are very useful when comparing them to the Underlying Chart.
Thanks in advance.

 
  #65 (permalink)
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Found some charts

here is the best i can do for free offerings to show the IBM NOV week5 185 PUT Chart and the 15 min IBM Underlying chart with Divergence that occurred Wed 11-20-13.
This option will expire on 11-29-13 so it would have been a good trade for the last few days.
the Range since Wednesday was very close to Low of $100 and by Friday a High of $ 500.
This is the type trading i will be moving back into along with what i am already involved in.
i just edited posting the 180 Put Strike price chart with range of $ 21-$158 for friday.

Attached Thumbnails
Day Trading Options-ibmnovw4185put.jpg   Day Trading Options-ibm15min112213.jpg   Day Trading Options-ibm18011w5put.jpg  

Last edited by sandptrader; November 24th, 2013 at 11:34 PM. Reason: added another chart 180 Put
 
  #66 (permalink)
Trading for Profit
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Day Trading Options


sandptrader View Post
hello ESFXtrader....could you post the IBM 180 PUT Strike price chart and also the Range for the strikes prices for Friday 11-22-13 just like you did in your last post.
I do not have access to the Option Strike price charts like i use to as i was also heavy into this type trading.
I am still in search of a platform that allows me to view these Option Strike Price charts for a particular Strike as they are very useful when comparing them to the Underlying Chart.
Thanks in advance.

For your information, the past or expired options are no longer available come Sunday and only the current weekly or monthly option chain is available to view and most of them do not yet have much action and certainly would not work for trading last week, as the price action of the underlying stock or ETF would be far greater than the action of the option. Only those about to expire move in step with the stock or ETF.

I will certainly show some trades in the future. If you ever plan to try this trading, practice and see how you do. Use a demo account or paper trade.
Good trading. More later.
WK

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  #67 (permalink)
Trading for Profit
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Day Trading Options

For those interested in this thread or trading options in general, I thought I would post some info that may help you see just how powerful trading options can be. Certainly, FX and Futures trading offers good leverage on a trade and for those outside of US, FX offers even more, but for all that leverage, there is also all that risk. In option trading, where one buys the options, the risk is only the amount in the trade and day trading options with more cost than pennies, which trade with volume, can certainly be closed quickly, avoiding much of the loss of the investment. Some brokers offer trailing stops on options. I wouldn't lose more than 40% on trading options $1 or more. That way, one winner can cover any loss. The best option price moves come in the last days before option expiration. Some of these screen shots show option moves a week before expiration. These same moves in the price of the stocks this time late this week offer much bigger moves, as you would expect.
You can see that the first 3 screen shots are of AAPL options. AAPL was being bought throughout the day and the call options continued to rise in value. Note the 2nd screen shows 8 OTM strike prices that moved up considerably during the day. See low to high. It also shows the volume. All these AAPL screen shots are from 11/29 and one week before expiration. I hope you are beginning to see the possibilities. I continue to perfect my system of picking which options to buy and it is working well now. If you have a system that works, the opportunities are endless, especially near expiration of the options and on news events. More on that later.
Good trading.
Remember that it is very nice not to be required to go to work because you can trade for a living. What a joy.
WK

Attached Thumbnails
Day Trading Options-aapl605calloption_pricing2013-11-27-28-29starts_atop_1st_column.png   Day Trading Options-aapl625calloption_pricing2013-11-28-29-.07-.31.png   Day Trading Options-aapl605calloption_pricing2013-11-29-.40-.86n45min.png   Day Trading Options-2013-11-20pclncalloption1165.png  

Last edited by ESFXtrader; December 2nd, 2013 at 12:44 AM.
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  #68 (permalink)
Trading Apprentice
Thailand
 
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Thanks ESFXtrader. I like your strading style a lot. Hope to learn more from you.

 
  #69 (permalink)
Trading for Profit
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ESFXtrader's Avatar
 
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Day Trading Options

Here are some option trade opportunities which offer the results I look for in these trades. The moves vary from a double to ten fold and between. Check the price action on either the charts or the Time & Sales. Although I haven't caught some, I catch enough to do well. There are plenty more just like these. The surprise was the MSFT trade that someone suggest I check out and it turned out great. Every week you will have opportunities just like these. The moves do not need to be huge to get a double. A $20 contract can quickly move to $40 with a .40 move on lower priced stocks and that happens all the time.
Hope you are starting to see just how powerful this system is and either practicing or screen coping to see results.
Good trading.
WK

Attached Thumbnails
Day Trading Options-pcln1165putoption2013-12-06_1006.png   Day Trading Options-pcln1215calloptionpriceaction2013-12-04doubler.png   Day Trading Options-2013-12-05msft37.5call_option_.24-.60_in_a_day.png   Day Trading Options-gld120calloptiontime-sales2013-12-04_1326.png   Day Trading Options-gld122calloption2013-12-04.png   Day Trading Options-goog1055put2013-12-06_0950.png   Day Trading Options-goog1075calloptions2013-12-06_0930.png  
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  #70 (permalink)
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Options


Hi ESFXTrader,

I traded options for about 4 yrs before switching to futures in 1/13. I used optiosxpress. Their platform sucks. When I switched to futures I started using Ninja. I would really like to use Ninja for charting the stock. I haven't figured out which broker I should use or which data feed I should use for Ninja on the equity side and not pay a ton of money for it. Any suggestions?

I like what you are doing here. Keep up the good work. Like you are saying, lots of good opportunities if you can find something that is about to pop on expiration week. Are you just looking for the highest volume or lowest spread on OTM options?

I see you're from the west coast (Fl). I am from Brandon. I am in NC now but I will be headed back to Fl next year.

Have a nice weekend.


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