FORUMS BROKERS SOFTWARE
Home
 
    Forums > Main > Options > Trading Long Straddles

Old Feb 10th, 2012, 10:45 AM   #409
wiesman02
 
 
Join Date: Oct 2006
Location: Connecticut
Posts: 1,744
Whenever I trade long straddles, its almost always only with QQQ or SPY. And when I trade them, I always have to use more than 1 contract each, or else commission will eat too much into my profit.

For example. On Tuesday morning I did a long straddle with the SPY. I bought SPY March 135 calls @2.61 and bought SPY March 135 puts @2.86. Total investment: $547 per contract not including commish.

At this very minute, my total straddle is worth $598. Thats $51 profit and if you're not using IB assuming you're retail, you're looking at $20 min for comissh. Thats 40% of profits !

Therefore, when I place straddles, I always use at least 4 contracts.

If you are trading real money, 1 contract on a straddle IMO, is barely worth your time !
    Quote
Old Feb 10th, 2012, 10:54 AM   #410
falconview
 
 
Join Date: Jun 2010
Posts: 1,465
Thats interesting thankyou for the contribution. I´m over on Ryan Patricks forum right now with a thread on direct buying and selling contracts. His thread is MY OPTION TRADING. I don´t trade straddles anymore. But since you made money in such a short time, it sort of sounds interesting again? I will keep that 4 contracts for straddles in mind. Or try to! It was a good volatility play this morning. I wonder how you predicted it, or if you did?
    Quote
Old Feb 11th, 2012, 05:40 AM   #411
Goalgetter
 
 
Join Date: Dec 2008
Location: Europe
Posts: 102
Wonder if any of the experts here would recommend a first class
option page (or 2) for trading underlyings like FXE - QQQ - GLD etc.

- The only one I know is Yahoo/finance. -

Thanks for taking your time!

GG.
    Quote
Old Feb 11th, 2012, 05:43 AM   #412
Goalgetter
 
 
Join Date: Dec 2008
Location: Europe
Posts: 102
Wonder if any of the experts here would recommend a first class
option page (or 2) for trading underlyings like FXE - QQQ - GLD etc.

- The only one I know is Yahoo/finance. -

Thanks for taking your time!

GG.
    Quote
Old Feb 11th, 2012, 07:31 AM   #413
falconview
 
 
Join Date: Jun 2010
Posts: 1,465
Goal Getter

I trade QQQ and the OEX. Which are indexes and I use
free BIG CHARTS and free freestockcharts.com

Big charts is delayed and freestockcharts gives assumed data, for that 15 min. delay required by the exchanges.

At the level of buying trigger signals I use freestockcharts.com and for figuring where I am in the market I use BIG CHARTS.
    Quote
Old Feb 11th, 2012, 08:13 AM   #414
Goalgetter
 
 
Join Date: Dec 2008
Location: Europe
Posts: 102
Quote:
Quote from falconview:

Goal Getter

I trade QQQ and the OEX. Which are indexes and I use
free BIG CHARTS and free freestockcharts.com

Big charts is delayed and freestockcharts gives assumed data, for that 15 min. delay required by the exchanges.

At the level of buying trigger signals I use freestockcharts.com and for figuring where I am in the market I use BIG CHARTS.

Thanks for your help.

I'll be on those pages right away - great help.
    Quote
 
Reply
Thread Tools

Forum Jump



   Conduct Rules   Privacy Policy   Sitemap Copyright © 2014, Elite Trader. All rights reserved.   

WHILE YOU'RE HERE, TAKE A MINUTE TO VISIT SOME OF OUR SPONSORS:
Advantage Futures
Futures Trading & Clearing
Alpha 7 Trading Academy
Proprietary Trading Education
AMP Global Clearing
Futures and FX Trading
Bright Trading
Professional Equities Trading
CTS
Futures Trading Software
DaytradingBias.com
Professional Trading Analytics
ECHOtrade
Professional Trading Firm
eSignal
Trading Software Provider
FXCM
Forex Trading Services
Global Futures
Futures, Options & FX Trading
Interactive Brokers
Pro Gateway to World Markets
JC Trading Group
Direct Access Trading
MB Trading
Direct Access Trading
MultiCharts
Trading Software Provider
NinjaTrader
Trading Software Provider
OANDA
Currency Trading
optionshouse
Option Trading & Education
Rithmic
Futures Trade Execution Platform
SpeedTrader
Direct Access Trading
SpreadProfessor
Spread Trading Instruction
thinkorswim by TD Ameritrade
Direct Access TradingAdvertisement
TradersStudio
System Building & Backtesting
Trading Technologies
Trading Software Provider
Trend Following
Trading Systems Provider