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Weekly Option Trader


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Weekly Option Trader

  #11 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, various
Broker: various, TDA
Trading: NQ,ES
Posts: 2,124 since Jul 2011
Thanks Given: 2,396
Thanks Received: 1,748

Thanks, looking forward to seeing this journal. I've tried daytrading with options but hadn't tried weeklies except by accident.

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  #12 (permalink)
 
Bermudan Option's Avatar
 Bermudan Option 
Chicago, Illinois
1% better Daily
 
Experience: Beginner
Platform: TradingView
Broker: ThinkOrSwim
Trading: Forex, Stock & Options
Posts: 673 since May 2011
Thanks Given: 838
Thanks Received: 471

nice to see someone trading options. With the weeklies, do u trade in at or out of the money? Also, I am guessing you are strictly long calls/puts... or do you use spreads, even if just to limit a loss?

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  #13 (permalink)
 
optionzen's Avatar
 optionzen 
Dallas
 
Experience: Intermediate
Platform: ThinkorSwim, Ninjatrader, Multicharts
Broker: Thinkorswim, Ninjatrader Brokerage
Posts: 139 since Nov 2010
Thanks Given: 137
Thanks Received: 106


Thanks for starting this journal and taking time to help others. I hope to learn from your experience.


Sent from my SAMSUNG-SGH-I727 using Tapatalk 2

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  #14 (permalink)
 
Vikings1's Avatar
 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
Posts: 188 since Sep 2011
Thanks Given: 26
Thanks Received: 418

Today was another fun day and the market let me to play.

Four out of five today.

Trades:

AAPL $635 Calls @ $ 2.30 they went to $ 3.00, but I sold them at $ 2.00 after the moved quickly failed.
Small Loss

AAPL $620 Puts @ $ 2.20 sold them at $ 4.00 when they hit my target (a past month FIB @ $ 621.45)
Nice Win

BIDU $150 Calls @ $ 1.00 sold them at $ 2.20 when it finally got to R3 ( I use Woodies Pivot instead of standard pivots.
Nice Win

SPY $138 Calls @ 0.50 sold them @ $ 1.00 when moved tired and started showing weakness.
Nice Win

ES In @ $ 1,374 still in with a stop at $ 1,384 (10 points locked in)
Nice Win

No plays in GOOG (options over priced due to earnings), NFLX (took off before open), PCLN (also was running before open, never let me in), AMZN (missed a small buy due to already being in SPY, ES, AAPL, & BIDU).

Take care and have a great night.

Tip of the day: Watch the high and lows of the first 30 minutes, a break of either can usually be bought or shorter. (The thin red/green lines on my charts, I always pay attention to them).


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  #15 (permalink)
 
Maisie's Avatar
 Maisie 
san francisco
 
Experience: Beginner
Platform: Interactive Brokers
Trading: stocks & options
Posts: 146 since Dec 2011
Thanks Given: 99
Thanks Received: 85

Viking1, where have you been all my life? i have been daytrading weeklies and monthlies for the past 5 months with irregular results. no time to read right now - got to get the evening going - but can't wait to read yr journal. mine is "maisie's journal" - but u might not want to waste yr time. i am quite the beginner and doubt my chatty journal will contain anything u haven't worked out already. but it exists, for what it's worth.

Du sublime au ridicule, il n'ya qu'un pas. ~Napoleon Bonaparte
Follow me on Twitter Visit my NexusFi Trade Journal
  #16 (permalink)
 
Vikings1's Avatar
 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
Posts: 188 since Sep 2011
Thanks Given: 26
Thanks Received: 418


Maisie View Post
Viking1, where have you been all my life? i have been daytrading weeklies and monthlies for the past 5 months with irregular results. no time to read right now - got to get the evening going - but can't wait to read yr journal. mine is "maisie's journal" - but u might not want to waste yr time. i am quite the beginner and doubt my chatty journal will contain anything u haven't worked out already. but it exists, for what it's worth.


Hello Massie, you might be right in regards to teaching me anything new, but I always have an open mind. Thank you for the comments and have a great night. Love the Bay area.

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  #17 (permalink)
 
Vikings1's Avatar
 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
Posts: 188 since Sep 2011
Thanks Given: 26
Thanks Received: 418


Bermudan Option View Post
nice to see someone trading options. With the weeklies, do u trade in at or out of the money? Also, I am guessing you are strictly long calls/puts... or do you use spreads, even if just to limit a loss?

I always trade just out of the money (1 to 2 strikes) on the weeklies, (this can be VERY rewarding especially on Thursday and Friday plays; but you better have a real good idea where the option is going). I am strictly long call/puts and rarely use vertical spreads (though they can be very useful on "swing plays" over night).

Tip: On Friday's you will find a lot of these weeklies love to finish on, or very near, a strike.

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  #18 (permalink)
 
Maisie's Avatar
 Maisie 
san francisco
 
Experience: Beginner
Platform: Interactive Brokers
Trading: stocks & options
Posts: 146 since Dec 2011
Thanks Given: 99
Thanks Received: 85

Viking1, where have you been all my life? i have been daytrading weeklies and monthlies for the past 5 months with irregular results. no time to read right now - got to get the evening going - but can't wait to read yr journal. mine is "maisie's journal" - but u might not want to waste yr time. i am quite the beginner and doubt my chatty journal will contain anything u haven't worked out already. but it exists, for what it's worth.

Du sublime au ridicule, il n'ya qu'un pas. ~Napoleon Bonaparte
Follow me on Twitter Visit my NexusFi Trade Journal
Thanked by:
  #19 (permalink)
 
Maisie's Avatar
 Maisie 
san francisco
 
Experience: Beginner
Platform: Interactive Brokers
Trading: stocks & options
Posts: 146 since Dec 2011
Thanks Given: 99
Thanks Received: 85

*and* my mother's family is originally norwegian; my ggmother settled in minneapolis. so we are both vikings!

Du sublime au ridicule, il n'ya qu'un pas. ~Napoleon Bonaparte
Follow me on Twitter Visit my NexusFi Trade Journal
  #20 (permalink)
 timmyb 
duluth,mn
 
Experience: Advanced
Platform: ninja,thinkorswim
Broker: Amp-Zenfire
Trading: ES,Options
Posts: 654 since Feb 2010
Thanks Given: 81
Thanks Received: 1,361


I know a method i like on SPY weeklies is to wait until the spy is inbetween strikes. IF the spy is at 130.50 id either be going long for the 131 calls or going short buying 130 puts. I am not sure why I wait for a split. Its going to be fun to converse with some options traders on this thread.

and just for fun here is the 138 calls synced to the spy. Mainly for those who may not know how options correlate to underlying ect. along with the volume for some puts and calls


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Last Updated on December 18, 2012


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