Weeklies Expiring Next Friday

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    Posted: 28 September 2011 05:34 PM

    When the markets open tomorrow am - new weeklies expiring next friday will be coming out.

    Thinking, thinking and thinking some more of what kinda trade I want to put on.

    Here are my options:
    1) Do nothing - way to risky with Tuesday’s iPhone release and subsequent market reaction.

    2) Enter into a bull put spread - say maybe - BTO 370/STO 375 PUTS for a little credit love

    3) Pull a Gregg Thurman and buy an ITM bull call spread - say BTO 380/ STO 385 for a little % love

    4) Enter into a bear call spread - say maybe STO 425/ BTO 430 for a little credit love

    5) Go nuts and buy an OTM call spread - say 410/415


    Anyone else wrestling with what to do tomorrow?

    [ Edited: 28 September 2011 05:42 PM by Nagrani ]      
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    Posted: 28 September 2011 05:36 PM #1

    As for the bull call spreads, depending on pricing, what’s your goal for the 380/385?

    And why not try a 400/405 or 405/410 if you’re thinking OTM?

    (Also, you have one too few and one too many letters for Gregg Thurman.)

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    Posted: 28 September 2011 05:44 PM #2

    Mav - 28 September 2011 08:36 PM

    As for the bull call spreads, depending on pricing, what’s your goal for the 380/385?

    And why not try a 400/405 or 405/410 if you’re thinking OTM?

    (Also, you have one too few and one too many letters for Gregg Thurman.)

    Will have to see about prices in the morning. First trying to see which type f trade I want to put on and then will devise a specific game plan on strike and target pricing…

    Made correction; thanks and apologies to Mr. Thurman

         
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    Posted: 29 September 2011 03:23 AM #3

    Unique - 28 September 2011 08:46 PM

    Be careful Nagrani.

    BTW, Come on skype for part 2 guide.

    Unique, when will you be posting part 2?

         
  • Posted: 29 September 2011 07:54 PM #4

    madmaxroi - 29 September 2011 06:23 AM
    Unique - 28 September 2011 08:46 PM

    Be careful Nagrani.

    BTW, Come on skype for part 2 guide.

    Unique, when will you be posting part 2?

    And where is part 1?

         
  • Posted: 30 September 2011 12:26 PM #5

    Mav - 28 September 2011 08:36 PM

    (Also, you have one too few and one too many letters for Gregg Thurman.)

    Huh?

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    Posted: 30 September 2011 12:46 PM #6

    Nagrani fixed it long before you got here Gregg.

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  • Posted: 30 September 2011 01:36 PM #7

    Mav - 30 September 2011 03:46 PM

    Nagrani fixed it long before you got here Gregg.

    Thanks Nagrani   )

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  • Posted: 30 September 2011 02:51 PM #8

    adamthompson3232 - 30 September 2011 05:47 PM

    Making a small 4-figure bet on out of the money weekly calls toward the close today.

    Looking to acquire Bull Call $385/$390 Weeklies when AAPL next (if it does) dip below $386.  My entry price should be between $2.45 and $2.50.  If I had any balls left (they’ve gotten very small in the last few months) I’d go with the $390/$395 Bull Call Weekly.  Entry on those would be about $2.10.

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    Posted: 30 September 2011 03:23 PM #9

    I have a whole new trading strategy

    I own a big leap call position (400’s) that expire jan 2013. From that - I sell way out the money weekly calls - ie - this week sold the 420s and pocketed about 20k - next week sold the 430s and pocketed about 8k—with this extra dinero, I do a combination of:

    1.bull put spreads
    2.bear call spreads
    3.and GT’s—somewhat ITM bull call spreads


    Essentially- I’m using my long term (don’t fucking touch) LEAP position to finance my weekly gambling habit. goal is to build a base to add to the strategy (1-3) above on a weekly basis..

    It’s pretty lovely if I may say so myself. Special thanks to Love, AT99, Gregg and the others for the inspiration to this…

         
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    Posted: 30 September 2011 03:23 PM #10

    Gregg Thurman - 30 September 2011 05:51 PM
    adamthompson3232 - 30 September 2011 05:47 PM

    Making a small 4-figure bet on out of the money weekly calls toward the close today.

    Looking to acquire Bull Call $385/$390 Weeklies when AAPL next (if it does) dip below $386.  My entry price should be between $2.45 and $2.50.  If I had any balls left (they’ve gotten very small in the last few months) I’d go with the $390/$395 Bull Call Weekly.  Entry on those would be about $2.10.

    I decided to pull the trigger and picked up the 390/395 with a little bit of money I had sitting around.

         
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    Posted: 30 September 2011 03:47 PM #11

    Nagrani - 30 September 2011 06:23 PM

    ... Essentially- I’m using my long term ... LEAP position to finance my weekly gambling habit ...

    That’s what mtdoc did.  He left AFB because of some miscommunication with another AFBer.  If you can do it enough time, you will get a “free” LEAPS.  The $ from the short calls can be used for as you suggested “gambling”, for alice case “income” or iloveiPad case “more LEAPS”.  However it works only if there are no breakout, if happened you’ve to decide to either cover the short (do you have the $?) or close the position (LEAPS + short, sad as it is usually the beginning of a big run).  So like all spreads, only works if AAPL is sideways to moderately trending.  Just throwing some cold water to your discovery of America :evil:.  You’re doing a covered call, if you still don’t know it rolleyes.

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    Posted: 30 September 2011 04:35 PM #12

    Mace, thanks for your wizdumb

         
  • Posted: 30 September 2011 05:03 PM #13

    nkmho - 30 September 2011 06:23 PM
    Gregg Thurman - 30 September 2011 05:51 PM
    adamthompson3232 - 30 September 2011 05:47 PM

    Making a small 4-figure bet on out of the money weekly calls toward the close today.

    Looking to acquire Bull Call $385/$390 Weeklies when AAPL next (if it does) dip below $386.  My entry price should be between $2.45 and $2.50.  If I had any balls left (they’ve gotten very small in the last few months) I’d go with the $390/$395 Bull Call Weekly.  Entry on those would be about $2.10.

    I decided to pull the trigger and picked up the 390/395 with a little bit of money I had sitting around.

    My girlfriend (seems strange saying that at age 65), told me that if I did that I’d be sleeping on the couch until Spring.  Ergo, I cancelled my order before it filled.

    I am doubly happy that I did.  I’m now waiting for Monday morning, and will buy even if AAPL’s down some more.  I just can’t see AAPL remaining at these levels ($382) through next week.

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    Posted: 30 September 2011 06:03 PM #14

    Gregg Thurman - 30 September 2011 08:03 PM
    nkmho - 30 September 2011 06:23 PM

    I decided to pull the trigger and picked up the 390/395 with a little bit of money I had sitting around.

    My girlfriend (seems strange saying that at age 65), told me that if I did that I’d be sleeping on the couch until Spring.  Ergo, I cancelled my order before it filled.

    I am doubly happy that I did.  I’m now waiting for Monday morning, and will buy even if AAPL’s down some more.  I just can’t see AAPL remaining at these levels ($382) through next week.

    I only put in for a small amount, so I won’t be too disappointed if it doesn’t hit. Been burned a couple of times on weeklies, so I do small bets on them these days. Perhaps I should play them a little more conservatively.

         
  • Posted: 03 October 2011 01:53 PM #15

    OK, I’m in.  $375/$380s at $2.56.  It would appear that my girlfriend is smarter than I.  Now let’s hope she’s smarter than Mr. Market.

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