Plain Vanilla Options Trades.

[PKFFW]

Listen....all of it is obvious...it cannot be more obvious than it is. I am not sidestepping anythng. I am just getting on with my business. You seem to think anyone can get involved in complex matters without having a solid grounding and a methodology to underpin it. So what do you expect ? I do not understand what you want. It is very simple. If you know how to trade you know how to trade and if you don't you don't. And some of us are better than others and some of us are stars and some are not and some are dunces who will never make it. Now what exactly do you expect me to do about it. Do you expect me to swap my proficiency for inefficiency or what exactly is it you expect ? I am doing what I set out to do. That's all.

So again you accuse me of things I have never done. Where have I suggested anyone can get involved in anything at all, much less in complicated matters? I don't care what anyone gets in involved in and so did not mention anything of the kind in my post.

Of course some will be better than others at trading, that has never been in debate. It is obvious you trot out that tiresome line because you can not rationally and logically debate your point. Every time you attempt to do so you end up reasoning for the opposite to your hypothesis. So instead you take to waffling on about things other than the debate at hand, or claim you are not going to enter into any debate when you clearly do if you think it suits your purpose to do so. This is known as "sidestepping".

As for what I want, especially from you, nothing at all. I am merely debating an issue that you yourself raised. As you have clearly and repeatedly admitted I am right then I guess the debate can end.

Cheers,
PKFFW

 

[Bez]

...not to rub it in....but because it is a fact...every single position is profitable and has been profitable.....may this please my fans and infuriate my detractors, I Thank You

Impressive, by following the rules of the game

:cheesy:

 

[new_trader]

Update:~ (last week's results)
######

Trades Written:~

A. 5 X FTSE 100 June 6025 puts @ 129.5...closed out @ 107........(5 X 225) = £1125 profit.

B. 5 X FTSE 100 June 6025 puts @ 132.... ..closed out @ 122....(5 X 100) = £ 500 profit

C 5 X FTSE 100 Mar 5975 puts @ 57..............closed out @ 35.......( 5 X220) = £ 1100 profit

8 3 X FTSE 100 Apr 5925 puts @ 65................closed out @ 48........( 3 X 170) = £ 510 profit

10 3 X FTSE 100 Mar 6125 puts @ 85...........closed out @ 65........( (3 X 200) = £ 600 profit

11 3 X FTSE 100 Mar 6175 puts @ 100.......... closed out @ 86........(3 X 140) = £420 profit

13 1 X FTSE 100 Mar 6225 puts @ 164.... ......closed out @ 132.....(1 X 320) = £ 320 profit


Total realised profits so far..................£4475=

(this is not including trade E, carried out by CYOF)

Open Positions:~

Trades D, 6F, 7 and 9. all in FTSE 100 Apr 5925 puts, totalling 23 puts written at a mean average price of
48.8260 each.

Market price to buy last seen is 44ish....


therefore current unrealised profit for these is (4.82 23 X 10) = £1108 =


....................And


Trade number 12...

3 X FTSE 100 Index puts 6225 May written @ 115.5 and last seen 75 ish....

therefore current unrealised profit for this one is (3 X 40.5 X 10 ) = £ 1215.


Therefore realised profits = £ 4475=

..............plus.....

Unrealsed profits so far = £2323=
__________________
SOCRATES

#########################

Update:~ this week's results:~
#########################
( I have made an adjustment and added trade 15# to make up the series)

This week

Trades

14 3 X 6175 Apr 94 -78 = 16 (3 X 16 X 10)= £480 profit realised

18 3 X 6125 May 89 -79)= 10 (3 X 10 X 10) = £300 profit realised

Total profit realised for this week = £780=
#####

Plus
#####

Profits carried down from last week ........................................................................£4475=

Total profit realised so far = .........................................................................................£5255=

Unrealilsed profits:~

Trade numbers D, 6F, 7, and 9
23 in total 5925 Apr
@ mean average price of 48.826 less market price at close 30 = (23 X 18.826 X10) = £ 4330 (£4329.98)

plus

Trade number 12

3 X Mar 6225 @115.5 - 45.5 = (3 X 70 X 10) = ........................................................................................£2100+

plus

Trade number 15
6 Apr 6175 @ 84 - 67.5 = (6 X 16.5 X 10) = .................................................................................................£990=

plus

Trade number 15#
3 May6225 @ 110 - 107= (3 X 3 X 10) = .............................................................................................................£90

plus

Trade number 16
3 May 6075@ 74.5 - 71= (3 X 10 X 3.5) =............................................................................................................ £105

plus
Trade number 17
6 Mar6175 @ 42.5 - 36.5 = (6 X 6 X10 )=........................................................................................................... £360

plus

Trade number 19
2 May 5925 @62 - 48 = (2 X 14 X 10)= .........................................................................................................£280=

plus
Trade number 20
1 May6225 @ 116 - 107 = (1 X 9 X10) = ..........................................................................................................£90=

Thus showing all unrealised profits ..............................total of £8345 =

Therefore showing all profits to date, less costs to be ..........£5255= (total realised profits)

and

all unrealised profits to date less dealing costs to be..........£8345= (total unrealsed profits)

Making a total combination of realised and unrealised profits so far of........................................................................................................£13,600=

And all in under a month...in fact a total of only 13 trading days...

And...not to rub it in....but because it is a fact...every single position is profitable and has been profitable.....may this please my fans and infuriate my detractors, I Thank You.:cheesy:

Dare to dream! :-0

Well done Socrates!

I look forward to the day you do the same with a futures thread....with the E-mini S&P500

Congratulations.

 

[Splitlink]

Congratulations, Socrates. It may not prove an edge over buyers, but it is good enough for me.

That unmentionable object around a, not the, corner which is my main, mental, block to wealth is being discussed with CYOF. Well, in his case, it was a big stone rolling down a hill..At least, I thought, it was, but he seems to have rolled it somewhere else while he tackles some mental problems of his own.

If he's a friend of yours, throw him a line!

Split

 

[SOCRATES]

£400 well spent, sir!

You are obviously referring the the annual subsciption fee to the Platinum Lounge, are you not ?

 

[SOCRATES]

So again you accuse me of things I have never done. Where have I suggested anyone can get involved in anything at all, much less in complicated matters? I don't care what anyone gets in involved in and so did not mention anything of the kind in my post.

Of course some will be better than others at trading, that has never been in debate. It is obvious you trot out that tiresome line because you can not rationally and logically debate your point. Every time you attempt to do so you end up reasoning for the opposite to your hypothesis. So instead you take to waffling on about things other than the debate at hand, or claim you are not going to enter into any debate when you clearly do if you think it suits your purpose to do so. This is known as "sidestepping".

As for what I want, especially from you, nothing at all. I am merely debating an issue that you yourself raised. As you have clearly and repeatedly admitted I am right then I guess the debate can end.

Cheers,
PKFFW

I am not accusing you of anything PK...I am simply mystified as to what exactly you expect of me. I cannot be you. I cannot be you for you. You have to develop yourself. Self development is the key to successful consistent trading performance.

To do this, everything has to be understood at once, at a glance....it is a sort of "flash multitasking and cognition" that has to be done. Many people try this and cannot do it.

What do you want me to do ? I can do it. There are a handful of traders on this website who can do it who have found their own routes, My crew have all been hand trained by me over years of mentoring to be able to do it, and they are the few, distilled from hundreds of aspirants. When someone appears, he or she does not carry a label on the forehead to show suitability for this profession. So this is not for the great majority, but only for a small minority, but I have given up with the public and that is why I am not prepared to teach, to give "lessons". That is why I only present the facts, and that is it,

This is the reason I often state that in the end analysis, traders are born and not made.

 

[SOCRATES]

Impressive, by following the rules of the game

:cheesy:

Just like warfare, there are rules of engagement rather than rules of the game, as strictly speaking this is not a game but a relentless war for profits in which the best tactician and strategist is the winner..:cheesy:

Thank you for your good wishes.

 

[SOCRATES]

Dare to dream! :-0

Well done Socrates!

I look forward to the day you do the same with a futures thread....with the E-mini S&P500

Congratulations.

I am pleased you like it new_trader.

This is not the beginning of the end....it may be the end of the beginning.

We look forward with confidence to next week.

Thank you for your good wishes and stay tuned.

 

[SOCRATES]

now I know that you really do love us
__________________
protect and extract

Thanks for a good laugh

Hello Super....I enjoyed it immensely too..

 

[SOCRATES]

Congratulations, Socrates. It may not prove an edge over buyers, but it is good enough for me.

That unmentionable object around a, not the, corner which is my main, mental, block to wealth is being discussed with CYOF. Well, in his case, it was a big stone rolling down a hill..At least, I thought, it was, but he seems to have rolled it somewhere else while he tackles some mental problems of his own.

If he's a friend of yours, throw him a line!

Split

Don't you worry, I have a copy of the Financial Times folded over three times to swat it with if it appears.............:cheesy: ........... and that will do the trick I promise you. One loud "whack !" and that is sufficient to vapourise it...

Thank you for your good wishes and stay tuned.

 

[SOCRATES]

Of course.

When something is shown to be perfect it is not expensive, is my view.

 

[SOCRATES]

It's not that impressive Socs, not when a person breaks it all down.

The timings good i'll give you that, you boxed Profittaker off good and propper.

Who in the right mind would want to start buying options on the FTSE to prove a point at this very moment in time.

6, no 7 out of 10.

Could do better.

Ha Ha Ha

 

[grantx]

Profitaker,

Linesniffer: “What is the most popular option trade, the write or the buy?”

“It is exactly equal, evidently, because for every option seller there must be.....a buyer.”

You know I’m not one to split hairs, but I disagree. The opposite side to an option trade is a reaction to a first event, ie an opening trade. Assume the options market consists of you (market-maker) and I (Joe Public). I decide to buy (sell) a call, therefore you sell (buy) it (from) to me. Therefore, the most popular trade would be a buy (sell).


I think it’s reasonable to assume that buying is the most popular strategy for various reasons: onerous margin requirements for shorts and restrictions at the retail level, but especially lack of understanding at the retail level, eg buying on the basis of price rather than value which is apparent from the number of small lots traded far otm. The difficulty, however, is differentiating between professional and retail, especially where there is large volume around atm.

As a footnote, matters may get a little complicated when calls (puts) become very cheap. Will they be bought because they are cheap? Yes. But if they are cheap, why are the mm’s selling them at a low price? Low risk (of being itm). But why would anyone want to buy an option that will not be itm (ignoring interim moves)?

Linesniffer:

"I never get the markets wrong, but sometimes the markets underperform my expectations." You’re an equities salesman, aren’t you?

Bez,

What or where are these “rules of the game”?

New Trader,

“do the same with a futures”. Socrates has consistently shown profitability on short puts. Short puts are equivalent to long futures. Therefore, buy futures. Simple.

 

[Profitaker]

Profitaker,

Linesniffer: “What is the most popular option trade, the write or the buy?”

“It is exactly equal, evidently, because for every option seller there must be.....a buyer.”

You know I’m not one to split hairs, but I disagree. The opposite side to an option trade is a reaction to a first event, ie an opening trade. Assume the options market consists of you (market-maker) and I (Joe Public). I decide to buy (sell) a call, therefore you sell (buy) it (from) to me. Therefore, the most popular trade would be a buy (sell).

I think I can see where you're coming from. But that is more a statement of which party initiated the trade. In other words, which party was prepared to move his price such that the other party was then happy to take the other side of the trade.

We are looking at edge but from a different angle. To clarify - if (for example) buying options was more "popular" than selling options due to the fact that it was mostly buyers that initiated the trade by moving towards the sellers price, then the inference must be that there must be an inherent edge in selling options because they are more expensive than they should be. I don't belive this is the case.

So even from the angle of who initiated the trade (buyer or seller) I would still say it's equal. Perhaps if you isolated popularity by groups, for example men under 35, female traders, retired professionals etc, etc, I'm sure there would be some distinct preferences.

But to answer the general question "“What is the most popular option trade, the write or the buy?” I still say it's equal

 

[Profitaker]

It's not that impressive Socs, not when a person breaks it all down.

The timings good i'll give you that, you boxed Profittaker off good and propper.

Erm, how exaclty was I "boxed off good and proper" ?

 

[Profitaker]

Socs

Its clear you don't want to reply to Page 103 Post #1026


At an end your role is, but not short enough it was!

So powerful why leave

Fascinating. It seems the deception knows no limits.

 

[counter_violent]

Socs

Its clear you don't want to reply to Page 103 Post #1026


At an end your role is, but not short enough it was!

So powerful why leave

I sense you have a story to tell.......would this be correct ?

 

[SOCRATES]

Erm, how exaclty was I "boxed off good and proper" ?

A previous post by Profitaker monkey on this thread :

I have taken the unusual step of replying to a minion.

Since all proceeds go to charity, I would like to announce that I'll donate £ 10,000 to any charity of the winners choice, if anybody can find a winning trade posted by me on T2W. Or any losing trade posted by me. In fact, any trade whatsoever, posted by me, whenever, on T2W.
__________________
Good judgment comes from experience. Experience comes from bad judgment.

You've got to laugh...

Simple...you are just a rude kid who has read 3 books.

Anyone can see you are just cardboard cut out with a lot of bluster....Ha Ha Ha....and as they say in the States "Attitood"....Ha Ha Ha....but nothing else.....

 

[laptop1]

I sense you have a story to tell.......would this be correct ?

I do, He will not answer to my Post #1026,

He has a symbol under his name,"THE ALL SEEING EYE" that he knows little about.


Confront him I must!

9 months to come, look as good you will not!

 

[counter_violent]

I do, He will not answer to my Post #1026,

He has a symbol under his name,"THE ALL SEEING EYE" that he knows little about.


Confront him I must!

9 months to come, look as good you will not!

He would'nt answer my queries two years ago .........I doubt he will answer yours now ...