So I didn't quite have stones to buy ultra short term OTM calls to play the earnings announcement. Being a bit more conservative, I instead did a May 1/2 ratio backspread (short 335C x 1, long 350C x 2) which I entered yesterday morning for a $1.01 credit. My plan from the beginning was to sell outright at the first sign of weakness the morning after earnings but I'm curious how others would play a similar position to maximize their gains? Thanks for playing.
I am pretty sure SPX options expire this Thursday pm. You are thinking about the monthly SPX which was last week.
i traded the weeklies on aapl. i managed a $20 loss on my positions but i was only lucky this morning because of a minor sell off the highs taking it below my short 355 calls. never will i trade during a earnings week, the range was huge. i feel really lucky. another lesson learned.
Any other stocks like GOOG or AAPL announcing next week? I made some paper $$$ (the TOS paperMoney kind, not the worthless Ben Bernank kind) in the past two weeks on GOOG and AAPL. (Ya, I know, I will check for myself, just thought I'd ask here.)
If I were an administrator I'd ask you to email proof that you made all the trades you posted this week and if you don't kick you off the site. Fraud isn't a good thing on trading sites. There are some strong suspicions your posting fraudulant information but easy for you to prove you are not. If the other guy edited your post well that's fraud as well.
aapl (weeklies) had its largest open interest at the 350 call strike and the 330 put strike. does this give a clue as to where the stock could be pinned or is that bs? and if it does give us a clue, would the trade be butterflies to max out profit potential?
not sure about aapl, but ff edited his goog trade by flipping the call/put after the move. I thought everybody knew that already, there is no suspicion, it's a fact he did.
Here is the proof that ForexForex is a fraud. 4 minutes before GOOG earnings he posts that he bought a call. http://www.elitetrader.com/vb/showthread.php?s=&postid=3154109#post3154109 After GOOG crashes after bad earnings he edits his post to claim that he bought a put instead. http://www.elitetrader.com/vb/showthread.php?s=&postid=3154105#post3154105