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July 2021 Trades

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E Trader
Posts: 28
(@e-trader)
Eminent Member
Joined: 10 months ago

I sold Monday 7/19 4280 s for 1.10

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3 Replies
E Trader
(@e-trader)
Joined: 10 months ago

Eminent Member
Posts: 28

Early again 😉  Today is a day that the 30 minute rule would have helped.  Not sure it doesn't all even out in the end.

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TwentySomething
(@twentysomething)
Joined: 1 year ago

Active Member
Posts: 13

@e-trader 

I sold a 4235 strike at $1.0. Just half an hour later I managed to sell a 4215 at $1.05! Unlucky but I just don't think it's too big of a deal. You just don't know what will happen between when you sell a put and when the market closes. 

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E Trader
(@e-trader)
Joined: 10 months ago

Eminent Member
Posts: 28

@twentysomething Wanna trade? 🤣

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bginburg
Posts: 13
(@bginburg)
Active Member
Joined: 6 months ago

Does ES not have a Monday 7/19 option?  I see it for SPX and XSP but after today, the next expiry for ES is on Wednesday.  I am using Interactive Brokers.

 

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4 Replies
E Trader
(@e-trader)
Joined: 10 months ago

Eminent Member
Posts: 28

@bginburg I have Monday /ES options in TOS.

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Carbofos
(@carbofos)
Joined: 5 months ago

New Member
Posts: 2

@bginburg please check your trading class settings

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bginburg
(@bginburg)
Joined: 6 months ago

Active Member
Posts: 13

@carbofos thanks, I’ll look into that. I was able to trade it on the app on Friday and then today it showed up on TWS. No idea why it didn’t show up in TWS last week but good to know that’s a setting.

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Carbofos
(@carbofos)
Joined: 5 months ago

New Member
Posts: 2

@bginburg mobile app and desktop tws are completely different products. They have started to share same server settings a few years back, but still desktop tws is a legacy product with its own luggage

I once stumbled upon the same problem as you. It's the CME product codes and has to do with expiration dates: https://www.cmegroup.com/trading/equity-index/weekly-equity-index-options-on-futures.html

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NavyPack
Posts: 161
(@navypack)
Estimable Member
Joined: 1 year ago

Sold Monday 4240 for $1.00 at 1100 Eastern.  A little negative now, but 90 points Monday would be a big drop.

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3 Replies
NavyPack
(@navypack)
Joined: 1 year ago

Estimable Member
Posts: 161

Getting a little nervous here!

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E Trader
(@e-trader)
Joined: 10 months ago

Eminent Member
Posts: 28

@navypack My 4280s are hurting a bit

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bginburg
(@bginburg)
Joined: 6 months ago

Active Member
Posts: 13

Same, sold a 4240 Put right around market close on Friday, so keeping a keen eye there.  At least the volatility increase is helping for Wednesday's puts - looking now and a 5D put is around 4060 or so, so over 2X the drop from Friday's close to 4240 and also at 2X the premiums, so fingers crossed if there is a loss today, it can be recovered soon enough...

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fi4wanderlust
Posts: 39
(@fi4wanderlust)
Eminent Member
Joined: 9 months ago

I hope theres a little rebound towards market close so you guys dont take too much of a hit! My strike expiring today is at 4200. I sold Weds expire at 4100 earlier this morning when it was at 5.7 delta. It's already gone up to 8.7 delta.

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E Trader
Posts: 28
(@e-trader)
Eminent Member
Joined: 10 months ago

As difficult as it is, I'm putting on Wed positions.  Hard to add more risk when you are getting kicked in the teeth.  My takeaway from ERN's article about how the strategy handled the March 2020 bear market was that the initial decline and vol pop caused the losses.  All subsequent short puts expired OTM.  And, the increased vol environment allowed him to recoup his losses more quickly than expected.

Trying to stay the course.

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1 Reply
fi4wanderlust
(@fi4wanderlust)
Joined: 9 months ago

Eminent Member
Posts: 39

@e-trader Exactly! When VIX pops is when there's lots of juice to squeeze. I've learned to just try to stay constant with my deltas and dont get too greedy to win back losses.

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