SteadyOptions is an options trading forum where you can find solutions from top options traders. TRY IT FREE!

We’ve all been there… researching options strategies and unable to find the answers we’re looking for. SteadyOptions has your solution.

All Activity

This stream auto-updates     

  1. Today
  2. Yesterday
  3. Yes that is correct. Correct, short the first weekly (if there is a weekly) and leg the first monthly. Both are after the earnings date. I think in this case, the problem comes from the bid-ask spread which is large, and i'm basing all my calculations on the mid price, which is ok for liquid stocks, but not realistic for illiquid stock. I only have the bid/ask prices of individual options, not spreads, so it's difficult to know how much that calendar could get filled. I'm double checking with ThinkOrSwim Thinkback. The call calendar on Feb 06 2018 is at 0.10 credit because of the bid/ask spread, and i think that's why the -250% comes from. Return is (CalendarPriceT+1/CalendarPriceT-0) -1 The next day, it's 0.15 debit. The double calendar is just a call calendar + put calendar. Return is (0.275/0.05-1)=450%. Obviously irrealistic because of the bid/ask spread and commissions. I think i should at least implement some sort of a tooltip so that when you put your mouse on the return, you get that information to decide why it's like that.
  4. @djtux, I've searched for documentation on the following feature but couldn't find it. So, maybe you can pls clarify : 1) Under the 'Straddle' top level drop-down, there is an option called 'Table' which shows a histogram and a table of various things including the below Can I ask if the 'Straddle return' is return for a straddle that is bought at T-0 and closed on the first full day of the earnings? Eg. for HAS, earnings are BMO Tue 23-Apr, so would the return be calculated as [(straddle price on Tue 23-Apr at market close) - (straddle price on Mon 22-Apr at market close)/(straddle price on Mon 22-Apr at market close) ? 2) For the "Call Calendar Return", would it be similar to above, with the short calls expiring the first Fri after earnings and the longs expiring on the next monthly date? For HAS, the shorts would be Fri 26-Apr and the longs 17-May? 3) I'm curious how the max loss on a Call Calendar Return can be greater than 100% (see above)? Also, I think the Dbl Calendar Return is incorrect. (Is the Dbl Calendar Return a combination of the Call and Put Calendar Returns?)
  5. Last week
  6. I updated TradeLogIB to support modern TWS / TWS API versions and added a support for automatic UTC to Local Time Zone conversion: https://github.com/stenri/TradeLogIB Check "TradeLogIB 4.0 notes" section documentation for a details on updating the script and TWS.
  7. Aristotle33

    Leveraged Anchor: A Three Month Review

    I discovered that CBOE has a new index, BXMC, which conditionally writes calls when the VIX is above 20. It improved performance a bit over BXM. I only write covered calls occasionally but it does tend to reduce the volatility of returns while not necessarily improving CAGR
  8. AlexInAlaska

    Tradier Brokerage Special Offer

    Interesting. I got a follow up email about my ITM options being exercised by 3:30pm ET yesterday. That didn’t happen. Heh
  9. SBrooks154

    Iron Condor adjustments

    Yeah it wasn't tested as much in reality as I guess it was my expecations through prior moves! Yeah I just started following the guys from Tasty Trade I'll be sure to look at that example! Thanks for the input!
  10. TrustyJules

    Iron Condor adjustments

    I have seen this advertised by the guys from Tasty Trade for example - I think you reduce the space in which you can make profits and therefore the probability of a profitable trade. What you are buying is an insurance that your original thought of a range bound underlying is covered in case you were wrong, if you change your opinion about that range then the trade as a whole should be questioned. In those case I understand - but note I am far from expert - that its better to move the whole condor up or down as may be appropriate and to do so without delay. With a condor your worry is that one of your legs is going to get punched through so adjustments should reflect that. Not sure if you are signed up to creating alpha? However if you do look at @SBatch Elephant trade which is a remarkable trade where he picks a range for the underlying (TLT in his case) and through many many tweaks throughout the trade lifetime moves that range if the market requires it basically selling potential final profit in exchange for security that we remain in the profit range. As subtle as that strategy is and as well as it works even then we cannot always avoid a loss due to an unexpectedly large and fast movement in SD of the underlying. There is no such thing as a free lunch.
  11. TrustyJules

    Iron Condor adjustments

    If you were able to close the short on the side you were worried about for 0.04$ then it cant have been very heavily challenged. As a rule closing shorts when they are worth pennies is a good idea. As for lottery tickets - remember options are probabilistic and tend to follow the rule of averages that you can either make many small gains very frequently and then have the occasional whopping loss or to have near total wipeouts every time except for the occasional whopping win. In the long run unless you have some edge this is a zero sum game. What is certainly true is that nothing beats being long and right on direction with an option - the problem we all have: how do we know when to be long?
  12. Dennis

    Iron Condor adjustments

    What are your thoughts on financing that hedge on the challenged side by harvesting profits on the unchallenged side, maybe moving the short option down a strike or two?
  13. SBrooks154

    Iron Condor adjustments

    Also today I bought a 4 cent call just as a lottery ticket for tomorrow on a stock that I had an iron condor on! The order filled as a close on the call side which was the side I was worried about! I called in a panic that I had botched the iron condor and she told me that I was better off now because that challenged side was ok now and I had my lottery tickets in case the stock rallies tomorrow! If what she told me is true to me that's an excellent way to adjust an iron condor before it goes bad! Can you verify this for me so I know everything she told me was the truth! Sounds almost too good to be true! Thank you for any feedback!
  14. SBrooks154

    Iron Condor adjustments

    I'm sorry I meant sell a call or put on the opposite side! Thanks for the feedback I'll look into those stradegies!👍
  15. RapperT

    Welcome to Steady Futures

    will be monday as code runs automatically on friday
  16. ex3y7s

    Tradier Brokerage Special Offer

    I called Tradier and they confirmed that the email went out a day early because of the holiday.
  17. TrustyJules

    Tradier Brokerage Special Offer

    Actually I had the message from Tasty Works as well
  18. Wandering

    Tradier Brokerage Special Offer

    I got the same e-mail as well, and have asked for clarification.
  19. AlexInAlaska

    Tradier Brokerage Special Offer

    I got that email this morning too. Seems like an error.
  20. ex3y7s

    Welcome to Steady Futures

    For a short week like this week do the rolls take place tomorrow on Thursday or wait until Monday?
  21. akito

    Tradier Brokerage Special Offer

    Yup. I also received the same thing and I've sent them an email asking for clarification. Most likely an error on their part.
  22. rigulator

    Tradier Brokerage Special Offer

    I was wondering too about that email. Probably a mistake. We'll see, whether they send another mail few hours before market close as they usually do.
  23. ex3y7s

    Tradier Brokerage Special Offer

    Did anyone else get an email from Tradier notifying them they have options positions expiring today? I have many April 18th positions, but no Wednesday options. I know Friday is a market holiday, but the April 18th equity options trade until the close tomorrow, Thursday, April 18th, correct?
  24. TrustyJules

    Iron Condor adjustments

    I am not sure I understand why you'd want to sell an additional call or put on the side being challenged. Thats like doubling down with the risk of making things worse. The most typical corrective measure I heard of is to buy a call or put in a future expiry a few strikes out from the challenged side. The time to do this is when the underlying is reaching the short strike. The number of hedges you buy depends on your condor but a factor of 1:10 is advised for index options. So if you have a 10 unit Iron Condor you would buy one hedge when challenged. If the underlying rips through the short you will be covered for some of the loss by the growth in the long position. if it falls back you liquidate the long and chalk the cost up to insurance for having a safe trade.
  25. SBrooks154

    Iron Condor adjustments

    What is the best way to adjust an iron condor! I'm hearing sell a call or put on the losing side but sometimes there's not enough premium left! I thought about doing a debit spread next to the side being comprimised! Then you are not promised it will blow through your limits! I've heard to buy out of the money positions not sure how that helps unless the price moves that far against you! What happens if you close out as soon as the price gets in the money! Do you only lose your profit instead of about 3 times your profit as is with most iron condors? I'm new to options so sorry if this makes no sense! Thanks!
  26. SBrooks154

    Benefits of Volatility on an option

    It almost has me wanting to pay more premium to take advantage of volatility! Your max profit is also not capped you just need to find the real winners! What is the best way to adjust an iron condor! I'm hearing sell a call or put on the losing side but sometimes there's not enough premium left! I thought about doing a debit spread next to the side being comprimised! Then you are not promised it will blow through your limits! I've heard to buy out of the money positions not sure how that helps unless the price moves that far against you! What happens if you close out as soon as the price gets in the money! Do you only lose your profit instead of about 3 times your profit as is with most iron condors?
  27. Yowster

    Benefits of Volatility on an option

    If your spread is using the same (or close to the same) expiration for equal number of short and long legs whose strikes are relatively close to each other - then yes, the short and long legs IV will to a large degree offset each other out and therefore minimize the effect of volatility changes. BTW, IMO this is why TV shows such as Options Action typically use these spreads when placing their directional trades, so they don't have to get into all the complexities about IV changes (since the trades are mostly directional with the largest greek impact coming from theta).
  28. I have noticed when trading let's say a single call with a decent amount of time left until expiration te stock will blow up not because of price but because of volatility! I have just started trading different kinds on spreads that lesson your break even point! Since then I haven't really noticed any spikes on volatility! My question is does the volitility from the call whether sell or buy offset the volitility of a put whether sell or buy! Also does a sold call and bought call cancel out volatility! I may be way off it could have just been a coincidence since I'm fairly new! Thanks for any help!
  1. Load more activity