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Weekly Option Trader
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Created: by Vikings1 Attachments:544

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Weekly Option Trader

  #11 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
Posts: 2,027 since Jul 2011
Thanks: 2,211 given, 1,551 received

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)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 468 since May 2011
Thanks: 395 given, 252 received

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?

 
  #13 (permalink)
Elite Member
Dallas
 
Futures Experience: Intermediate
Platform: ThinkorSwim, Ninjatrader, Multicharts
Broker/Data: Thinkorswim, Ninjatrader Brokerage
 
optionzen's Avatar
 
Posts: 135 since Nov 2010
Thanks: 134 given, 103 received


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)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 407 received

Another day another dollar

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)
Elite Member
san francisco
 
Futures Experience: Beginner
Platform: Interactive Brokers
Favorite Futures: stocks & options
 
Maisie's Avatar
 
Posts: 146 since Dec 2011
Thanks: 99 given, 84 received

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
 
  #16 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 407 received


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.

 
  #17 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 407 received


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)
Elite Member
san francisco
 
Futures Experience: Beginner
Platform: Interactive Brokers
Favorite Futures: stocks & options
 
Maisie's Avatar
 
Posts: 146 since Dec 2011
Thanks: 99 given, 84 received

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
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  #19 (permalink)
Elite Member
san francisco
 
Futures Experience: Beginner
Platform: Interactive Brokers
Favorite Futures: stocks & options
 
Maisie's Avatar
 
Posts: 146 since Dec 2011
Thanks: 99 given, 84 received

*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
 
  #20 (permalink)
Elite Member
duluth,mn
 
Futures Experience: Advanced
Platform: ninja,thinkorswim
Broker/Data: Amp-Zenfire
Favorite Futures: ES,Options
 
Posts: 648 since Feb 2010
Thanks: 81 given, 1,349 received


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 edited by timmyb; April 13th, 2012 at 01:12 AM. Reason: added image
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