My option trades

you are long puts and calls, if you sold options above and below each strike what would you create position wise?

 

Just bought 20 ARNA May/July calendars at the $1 strike for $.14. They have a FDA Approval in July so I can't imagine there's not going to be more than a $.14 premium on the July's once the May's expire. Although It's deep ITM so maybe it doesn't work out that way. We'll see, only $280 on the line anyways

 

Kinggyppo

What a delightful suggestion? Not at all accustomed to thinking in these terms of altering trades.

I think you are suggesting a debit spread? Or a Reverse Iron Condor.

Well lets see, the market could go either way. I don´t think it is going to reach the high of last week. If I sold a weekly. Too late for this week, but could do so for next week. Next weekly starts tomorrow Friday. The biggest price.

Walk me through this please?

The next OTM call is the April 68 with 9 days left. Selling for .22 cents.
Hmmn! I guess I could sell that? Which would convert it into a debit spread. My long call is QQQ 67, originally costing me $2.33.

Or let me re-think a minute, this could be a calendar. In which case it would sell for .59 cents. With 9 days to go.

I do see possibilities. I think selling the 67 weekly at .59 cents would be the thing to do. Have I got it right?

 

Goog if the earnings report is out already, does not seem to have moved much of anything?

 

Tomorrow after the close.

 

first I don't know what your position is, but if you are long puts and calls you are long theta and theta (time decay is working against you). An iron condor is by definition a put and call spread. I am simply suggesting you create a spread around the position that way you won't bleed to death. You had the idea with a debit spread. I think it would be helpful for you to focus on one or two greeks and a few no more than 2-3 strategies. Be aware that all strategies have good and bad points. The key point is that you are long theta, so you need to chop a leg, get out of the position or condor it off, your choice my friend.....

 

For GOOG:

I think I'll take some loss on the APR options... the vol seems to have dropped. Ill go long some MAY options I think.

But I'm still unsure. I expect the APR options to drop some 20 vol points. But the APR weeklies which I'm short should drop about 40-50 vol points... it's quite elevated.

Still unsure. Trading from a lecture is difficult no matter how boring the lecture.

 

I just noticed, It´s Wednesday and I was thinking it was Thursday. re the GOOG earnings. Tomorrow then.

 

I wouldn't view April listed as vol. after a 6percent move a one week option has little time value left.

 

I wouldn't view April listed as vol. after a 6percent move a one week option has little time value left.