RSSAuthor Archive for Terrapin Trader

First found out about options in 1995.From the arcane magazine Exchange and Mart! First trade- a covered call on VOD in 1999. Made 10%,VOD almost doubled. That's when I realised I was not a good trader,and I was forgiven thanks to the amazing world of exchange traded options

Trade97 Week Ending 14 September

Trade97 Week Ending 14 September

That Was The Week A bit of a nothing but it didn’t feel like it as the FTSE dropped beneath the waves with a low of 7220. I have several positions running into this expiry,and confess to failing to take the 45DTE (Oct expiry trade) That came into view on 7th Sept. Of course this […]

Education Special-Something for the Weekend

This Just In From My Chums at CME This is worthwhile for anyone new to options- it’s about the concept, no clever maths needed-unless you like that stuff https://institute.cmegroup.com/courses/introduction-to-options?utm_source=retail_nurture&utm_medium=email&utm_campaign=Q3-2018_Nurture&utm_content=intro-options

Trade 96 Week Ending 07Sept

Trade 96 Week Ending 07Sept

Action This Week We have seen FTSE drop substantially from ¬†7760 on 11th August- to the the low on Friday ¬†which was 7227. We had almost 12 weeks of centering around 7650 and perhaps that is the new resistance. Hope we find decent support this week. Typically my trades can withstand a 6% drop,thereafter I […]

Trade 95 Week Ending 31 August

Trade 95 Week Ending 31 August

Some Graphics To Pore Over, and a Great Exit for Trade 94 As we ALL know- don’t we, volatility rises when the market falls. It can rise when the market rises but it is a measure of the cost of risk. For premium sellers it is a thing of beauty, for those already short premium, […]

Trade 94 Week Ending 24 August

Trade 94 Week Ending 24 August

The Week That Time forgot Actually the whole of August has been pretty lame, for FTSE, though August 15th served us well with a 1.5% drop. August is the month when movers and shakers are away. The office cat is actually managing your funds! I like the ‘up day/down day‘ measure and August has 50% […]

Trade 93 Week Ending 17August

Trade 93 Week Ending 17August

What a Spikey Week! Big old vol spike on Wednesday. 5 consecutive down days (long overdue). And…. a terrific opportunity to double down with whatever position you like! I think this is more like it, though we may be heading back to that magnetic 7650 level. What do I know about levels? We’ll get to […]

Trade 92 Week Ending 10 August

Trade 92 Week Ending 10 August

Trade 92- we’ll get to that. Meanwhile, yet again the market went absolutley nowhere-we closed UP 3 points, despite the crazy at the end of the week. The dumb money moved in,and promptly scurried away. Cryptos? who the heck is losing their shirt currently? I don’t get it-might as well wet a finger and use […]

Trade 91 A Triple Twist and Week Ending 03 August

Trade 91 A Triple Twist and Week Ending 03 August

New Format So I have decided to roll weekly observations and the trade of the week into one post. I think most of you good people like the trades,and are not so bothered about my inane ramblings. (Chorus of no, no, we love all the content!) I hope that people are continuing to pick up […]

Trade 90 Adding To A Winning Position

Trade 90 Adding To A Winning Position

Firstly, Trade 89 a recap: We were long 7700 @47.5, short 7800@ 18.5, sell 7850@11 x2, = debit 7. (CALLS) Currently I think we’re looking at a value of about 10. So,one could argue this trade has made a reasonable profit, in the short term. We are here to run this though, and want to […]

That Was The Week Ending 27July

That Was The Week Ending 27July

Going Nowhere A trader might argue that for strangles straddles and iron condors,this has been a peachy couple of weeks. The FTSE has really gone nowhere. Again. As options traders we always like to have ‘skin in the game’ to take advantage of theta (time decay). The mitigation of risk,however, means that is it generally […]