Plain Vanilla Options Trades.

[JohnG FX]

Short 6346 march futures 3 contracts

Nice entry DC, also in @ 6341

I'm also short heavy on QMH7 25 lots @ 59.395

As for this thread...... what an absolute load of codswallop is being posted by some.

Just an observers views

 

[Profitaker]

As for this thread...... what an absolute load of codswallop is being posted by some.

I disagree, it's not that good !

 

[SOCRATES]

Nice entry DC, also in @ 6341

I'm also short heavy on QMH7 25 lots @ 59.395

As for this thread...... what an absolute load of codswallop is being posted by some.

Just an observers views

Please...., this is my thread.

The object of this thread is clearly described by its title.

It is not about going short on futures or anything else.

It is about whether the writer has the edge over the buyer in options.

Now you ae welcome to remain provided you remain on topic.

Also since you have made a post, please let us have your vote.

W for writers having the edge.

B for buyers having the edge.

All else codswallop ...Thank You.

 

[ian]

If you hold your written options till expiry then I'm sure more people will vote.

 

[SOCRATES]

If you hold your written options till expiry then I'm sure more people will vote.

Strictly speaking, it is not necessary.

The bright ones recognise value immediately.

The stupid ones argue and argue.

It is not difficult to see who's who in the zoo.

At least it is not difficult for me to spot, if for no one else....but a selected few...

 

[ian]

Strictly speaking, it is not necessary.

The bright ones recognise value immediately.

The stupid ones argue and argue.

It is not difficult to see who's who in the zoo.

At least it is not difficult for me to spot, if for no one else....but a selected few...

I'm not arguing - it was a reasonable request.

 

[Phil Mibbutz]

As for this thread...... what an absolute load of codswallop is being posted by some.

Just an observers views

You missed out 'pretentious', JohnG...

 

[JohnG FX]

Please...., this is my thread.

The object of this thread is clearly described by its title.

It is not about going short on futures or anything else.

It is about whether the writer has the edge over the buyer in options.

Now you ae welcome to remain provided you remain on topic.

Also since you have made a post, please let us have your vote.

W for writers having the edge.

B for buyers having the edge.

All else codswallop ...Thank You.

It totally depends on what you are tading, what your trading style is (which can depend on how much free time away from the screens you require) and your risk appetite.

I tend to use options only on FX. I would say that 80% of the time I am a buyer but occasionaly when there is some decent volatility - as there is in Yen at the moment ahead of the G7- then I will be a seller.

It's horses for courses. If I buy an OTM put or call on an FX pair I'm not usualy looking to make any profit on that trade, instead it's a forward hedge for me to take a risk free oppsoing position in the future, the long option is my mobile stop.

It's horses for courses,

Example : I'm looking for YEN to potentialy weaken again after the G7, but I'm not prepared to take a spot position ahead. I had a nice run down on GBP/JPY spot from last week which I covered this morning. there was some uncertainty in the market this morning so took a 1 week short 240.00 put for 385 pips. but at the same time took a 3 week long call with a 239 strike.

So which has the edge ? it all depends on how you trade

My current positions below :

 

[SOCRATES]

It totally depends on what you are tading, what your trading style is (which can depend on how much free time away from the screens you require) and your risk appetite.

I tend to use options only on FX. I would say that 80% of the time I am a buyer but occasionaly when there is some decent volatility - as there is in Yen at the moment ahead of the G7- then I will be a seller.

It's horses for courses. If I buy an OTM put or call on an FX pair I'm not usualy looking to make any profit on that trade, instead it's a forward hedge for me to take a risk free oppsoing position in the future, the long option is my mobile stop.

It's horses for courses,

Example : I'm looking for YEN to potentialy weaken again after the G7, but I'm not prepared to take a spot position ahead. I had a nice run down on GBP/JPY spot from last week which I covered this morning. there was some uncertainty in the market this morning so took a 1 week short 240.00 put for 385 pips. but at the same time took a 3 week long call with a 239 strike.

So which has the edge ? it all depends on how you trade

My current positions below :

Exactly....very well put.....it depends on what you are trading.

In your case your niche is currencies. Mine is not.

But the object of this thread and using the FTSE index to illustrate the point because it is most suited to the task, is to demonstrate the Writer has the edge over the Buyer, that 85 % or more of all of these options expire worhtless, and that the buyer has 1 chance in 3 of getting it right and that the writer has 3 chances out of 4 of getting it right among other things.

Now, to get a series of trades right is not luck.

Therefore it is taken for granted that even before a discussion starts participants are up to speed with effective methodologies and accurate dealing skills.

The detractors, who evidently do not possess these skills, persistently take refuge in quoting from books, in referring to irrelevant detail and to argue endlessly.

 

[trendie]

Exactly....very well put.....it depends on what you are trading.

In your case your niche is currencies. Mine is not.

But the object of this thread and using the FTSE index to illustrate the point because it is most suited to the task, is to demonstrate the Writer has the edge over the Buyer, that 85 % or more of all of these options expire worhtless, and that the buyer has 1 chance in 3 of getting it right and that the writer has 3 chances out of 4 of getting it right among other things.

Now, to get a series of trades right is not luck.

Therefore it is taken for granted that even before a discussion starts participants are up to speed with effective methodologies and accurate dealing skills.

The detractors, who evidently do not possess these skills, persistently take refuge in quoting from books, in referring to irrelevant detail and to argue endlessly.

you are not waiting for them to expire worthless, thats the point that has been made several times, to no-response.

 

[FXSCALPER2]

Exactly....very well put.....it depends on what you are trading.

In your case your niche is currencies. Mine is not.

But the object of this thread and using the FTSE index to illustrate the point because it is most suited to the task, is to demonstrate the Writer has the edge over the Buyer, that 85 % or more of all of these options expire worhtless, and that the buyer has 1 chance in 3 of getting it right and that the writer has 3 chances out of 4 of getting it right among other things.

Now, to get a series of trades right is not luck.

Therefore it is taken for granted that even before a discussion starts participants are up to speed with effective methodologies and accurate dealing skills.

The detractors, who evidently do not possess these skills, persistently take refuge in quoting from books, in referring to irrelevant detail and to argue endlessly.

Oh, Soccy loses the argument. Werentcha claiming writers have the edge, regardless? Kudos to that FX fella.

 

[counter_violent]

Oh, Soccy loses the argument. Werentcha claiming writers have the edge, regardless? Kudos to that FX fella.

My only concern ....he may be heading for an invite to join S Club 7.....

 

[ducati998]

But the object of this thread and using the FTSE index to illustrate the point because it is most suited to the task, is to demonstrate the Writer has the edge over the Buyer, that 85 % or more of all of these options expire worhtless, and that the buyer has 1 chance in 3 of getting it right and that the writer has 3 chances out of 4 of getting it right among

Factually incorrect [again]

jog on peanut
d998

 

[zupcon]

The detractors, who evidently do not possess these skills, persistently take refuge in quoting from books, in referring to irrelevant detail and to argue endlessly.

In the interests of accuracy, I must point out that it's you, Bulldozer and CYOF quoting statistics rather selectively from John Summa's book who have taken refuse in quoting from books. I haven't seen anyone else cite a reference from a book in defence of their arguments

 

[FXSCALPER2]

My only concern ....he may be heading for an invite to join S Club 7.....

That thought did cross my mind. Oh, what am I condemning our FX man to?

 

[CYOF]

Oh, Soccy loses the argument. Werentcha claiming writers have the edge, regardless? Kudos to that FX fella.

You are back again, Mr Wrong Threadman, and I see that yoiu have brought some more FX hairy ones with you

If you want to trade FX, go ahead, it is entirely your own decision, always has been - always will be, but not here :idea:

Socrates has lost no argument - all have the results to date at hand.

Come back and check the end results - all will be winners.

The Seller will win in all trades - The Buyer will lose in all trades.

Do we have to write it down for you 1 mil times?

Are you really that much of an amadain :cheesy:

You are nothing but a hang on, who probably sees some FX trades going off somewhere, then jumps in and says, hey, look at my trading, look at what I can do, waa, waa, waa.

You and your FX buddies should go over to the FX section and show your skills there

And when you are at it, please bring the pizza man with ye

I am sure ye will get great support :cheesy:

 

[Glenn]

Let us be quite clear.
1. There is no scientific proof whatever here of any edge either way. All we have to date is the equivalent of a series of coin tosses coming out Heads, and all of them caught in mid-air at that.
2. After all this time I have seen no evidence whatever that you Socrates are calling or executing the trades you post.

Makes me wonder what on earth is going on here. In fact I probably know only too well.
However, lets stick to the facts described above, for they are indisputable, and see what if any substance transpires.

Glenn

 

[Profitaker]

The "85% expire worthless" argument is only ever used by amateurs that do not understand the game. It is the true mark of a newbie that hasn't done any research or study. Look at any open interest and you'll see that 85% of options are.....OTM !

This old chestnut does make me laugh.

 

[CYOF]

Let us be quite clear.
1. There is no scientific proof whatever here of any edge either way. All we have to date is the equivalent of a series of coin tosses coming out Heads, and all of them caught in mid-air at that.
2. After all this time I have seen no evidence whatever that you Socrates are calling or executing the trades you post.

Makes me wonder what on earth is going on here. In fact I probably know only too well.
However, lets stick to the facts described above, for they are indisputable, and see what if any substance transpires.

Glenn

So you are now are starting to think for others as well

Coin tosses, hmmm, I would like to see what you are trading, maybe Monoply or something like that :idea:

What is going on?

Hold on now, I will fly over to where ever you are and hold your little hand and spell it out for you.

Come on you guys - Are Ye For Real

Is there so much bananas now growing due to global warming, that the future of mankind is indeed that bleak :idea:

The Facts are there for all to see, the calls have been made in advance, the trades then filled, the updates given, and even a summary for those who do not have enough time to write the trades down.

What do you want us to do - bring you out for Sunday lunch

A fellow Paddy recently commented on how I have changed, and all I can say, now, with all honesty, is that I am sorry that I did not change a long time ago, for I was indeed a monkey, and what is more I was taking a lot of bananas, and guess what, the same old banana givers are still here, handing out the little bendy yellow things in great numbers.

Drink!!

 

[Profitaker]

Let us be quite clear.
1. There is no scientific proof whatever here of any edge either way. All we have to date is the equivalent of a series of coin tosses coming out Heads, and all of them caught in mid-air at that.
2. After all this time I have seen no evidence whatever that you Socrates are calling or executing the trades you post.

A very succinct post.