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  • From Terrapin Trader on Trade 43 It's Xmas

    To close? Nah it’s flat- a curious week and Trump antics continue apace- I see a bit of a Trump dump next week so I have no positions currently. Expiry was just ..7320, untypical as there is nearly always a rise for the auction at 10

    2017/08/18 at 7:10 pm
  • From Terrapin Trader on Trade 43 It's Xmas

    Well-early days but the trade has done very little and again vol has been sucked out of the market- no easy trading here,we need to be patient.

    2017/08/17 at 2:30 pm
  • From Amit on Trade 43 It's Xmas

    Pretty much this what I did for this month..worked wonders!!

    2017/08/15 at 11:40 am
    • From Terrapin Trader on Trade 43 It's Xmas

      This is why options are the best kept secret

      2017/08/15 at 8:37 pm
  • From Terrapin Trader on That was the Week ending 11 August

    LOL!!! Cannot believe the amazing outcomes we keep having with these trades-and of course it is easy to verify these.
    Our site is free and dedicated to the would be options trader who can see past the rubbish offered by so many vendors of products that maybe had a winning trade once or twice,allegedly

    2017/08/12 at 2:06 pm
  • From Terrapin Trader on Trade 41 a Bias To the Downside

    so now the put trade is worth about 20, the calls- cannot get prices but likely a break even,and a wake up- do not trade when ill!

    2017/08/10 at 4:47 pm
  • From Terrapin Trader on Trade 42 and an Apology

    comment on Trade 41 has been added though it mysteriosuly disappeared from earlier. I may be going nuts!

    2017/08/10 at 1:07 pm
  • From Terrapin Trader on Trade 41 a Bias To the Downside

    Thought I’d commented already on these- the put BWB has come back to small profit,now about 16,buy price was 10.5
    The calls- a modest loss of about 40- could be mitigatedwith a strangle with only 8 days to expiry and biiig theta.

    2017/08/10 at 1:04 pm
  • From Terrapin Trader on Trade 42 and an Apology

    Combo combo combo combo…. thank you very much
    today the call was trading at 6, and the put at 19. A very respectable 13.
    Of course the dumb money kept piling in until it didn’t.
    I’m still looking for a smart way out of trade 41- the ill chosen call broken wing butterfly.

    2017/08/09 at 6:41 pm
    • From Terrapin Trader on Trade 42 and an Apology

      OK- now we have some sensible prices this combo is worth about 25. the 7550 call=2, the 7350 put 27. Smashed it out of the park, I’d say

      2017/08/10 at 1:24 pm
  • From Terrapin Trader on That Was The Week Ending 04August

    I have been unwell again and so Trade 41 was against any kind of judgement! I was unable to monitor positions this week but the Broken Wing Butterfly is a trade with little merit for me. It’s an object lesson in why we don’t trade when ill.
    Even looking back at what might have worked with calls is a thankless task- the 7400/7500/7700 would have cost 12 and as of Friday’s close…. credit of 32.
    Easy to be right in retrospect. I would always favour the butterfly which cannot cause losses beyond the premium paid. With 100 point wide strikes with the BWB you can of course lose another 100

    2017/08/05 at 2:41 pm
  • From Terrapin Trader on Trade 40 and Some History

    A Winner! Yay, vol kicked up a little but the market drop was the key, on Friday. Yes, we’d close out for a nice 25%

    2017/07/29 at 1:25 pm
  • From Terrapin Trader on That Was the Week ending 21July

    I tend to read some ‘parallel’ topics as trading material is tedious and I have read pretty much all there has been on options. Just finished ‘Scarcity’ By Sendhil Mullainathan, Eldar Shafir. A worthy read which makes plain some of our shortcomings in understanding the actions and inactions of others.

    2017/07/22 at 2:40 pm
  • From real forex millionaire on Trade16 -Standard and yet Devious

    Hey There. I discovered your weblog the usage of msn. That is an extremely
    neatly written article. I will be sure to bookmark it and return to read
    extra of your helpful information. Thank you for the post.
    I will definitely comeback.

    2017/07/17 at 4:30 am
    • From Terrapin Trader on Trade16 -Standard and yet Devious

      you are very welcome- we have one goal- to help others understand options-and by so doing, improve our own understanding

      2017/07/21 at 11:18 pm
  • From Terrapin Trader on Trade 39 A Theta Play

    Not a great trade as there is little basis to take it other than to contiune to demonstrate the power and flexibility of options. Should the market smash up we will lose, not a huge amount but it would be annoying

    2017/07/16 at 2:55 pm
  • From Terrapin Trader on Trade 38 Cheap But Not Free

    there was an opportunity to close this out for 4 this week but that is not what we are looking for -this is a fun trade -we want to win big or just let it fade into oblivion

    2017/07/13 at 6:45 pm
  • From Terrapin Trader on That Was The Week Ending July 7th

    It is hoped that our followers will understand that trade selection is the key. People who trade direction only have to choose up or down. The gift of options is the wide range of possibilities -no need to be directional,often no need to be right either.

    2017/07/09 at 11:40 am
  • From Terrapin Trader on Trade 37 Let's Get It Wrong

    Could now be closed out for 5- 4.5% profit in under a week. The little guys can win little and often

    2017/07/08 at 12:06 am
  • From Update Aadhar card on The Basics Revisited, Take The Time, Change Your World

    Everything is very open with a precise description of the issues.
    It was truly informative. Your site is very helpful. Thank you for sharing!

    2017/07/07 at 9:20 am
  • From contactamipro on The Basics Revisited, Take The Time, Change Your World

    thats an awesome library!

    2017/07/02 at 8:20 pm
  • From contactamipro on The Basics Revisited, Take The Time, Change Your World

    `thats an awesome library!

    2017/07/02 at 8:19 pm
  • From David Eppel on The Basics Revisited, Take The Time, Change Your World

    hope this has helped -when I first learned about options I was just utterly amazed.
    I still am.

    2017/07/02 at 12:23 pm
  • From contactamipro on That Was The Week Ending June 30th

    It’s been reversal of the trend. Pound getting stronger and ftse100 correction

    2017/07/01 at 4:22 pm
  • From Terrapin Trader on Trade 37 Let's Get It Wrong

    For so many trades now I have been hoping to show one that goes horribly wrong.
    I want to show how to repair a trade, but the market stubbornly refuses to do anything to help us fail.
    The flipside of this is that with a little knowledge (often deemed dangerous) one can make serious coin with options strategies

    2017/07/01 at 3:17 pm
  • From Terrapin Trader on Trade 36 Equal Premiums, Different Profiles

    the naked call is now 5.5 (sold at 8.5) it has been lower.
    the 7600/7650 spread is now worth 6
    the ratio spread is now 3 -clearly the winner here.
    I have to confess that while we are making money(and missing good trades too) this market is a complete basket case, in my opinion.

    2017/06/28 at 6:04 pm
  • From Terrapin Trader on Trade 35 Cheap, Risk Limited

    this trade now a credit of 9 as the call spread is now 6, and the put spread is 15. Another winner it seems.

    2017/06/28 at 5:57 pm
  • From contactamipro on Trade 36 Equal Premiums, Different Profiles

    Very true..any credit spread is 1:1 chances of winning

    2017/06/26 at 12:03 am
  • From Terrapin Trader on Trade 35 Cheap, Risk Limited

    I have been otherwise engaged this week but this trade has seen profits in the 5- 10 range but you need to place a limit order to catch them. I still get a bit uncomfortable about limit orders,and on Wednesday this week placed a limit order, took a ‘comfort break’ and the market had move another 20 points in my favour. So my limit of 23 could have been 28.That’s the difference between a rubbish trader like me who is too impatient,and failed 3 times to optimise this week’s trading,where another trader might have waited to open the trades on tuesday, not monday as I did. This was a pure volatility play and still made 100% however

    2017/06/22 at 4:56 pm
  • From Terrapin Trader on Trade 34 A Bit of a Mystery

    today that trade? the June puts are 5 (x2=10) the July put=55-giving a value of 45
    We paid 14 for this profit of 31. That equates to £310 per lot or around £2,000 margin thus a 15% return in a week.

    2017/06/15 at 11:21 am
  • From Terrapin Trader on Trade 33 Election Special- Enough Said

    the put spread- possible close out for 30 today(50% profit) , the straddle-sitting there like a strong and stable thing!

    2017/06/08 at 5:56 pm
  • From Terrapin Trader on Trade 33 Election Special- Enough Said

    much to be pondered but this straddle would be 127 to buy on IG -with their huge spreads it might not be a great trade,but at least it could be done for £127 instead of £1,270. Tempted to look at this on Monday

    2017/06/03 at 4:48 pm
  • From contactamipro on Trade 33 Election Special- Enough Said

    Ouch…that’s straddle is still expensive. I wonder how they are pricing vftse to be so low! We would find out soon but I agree it does not harm to have a bit of uspide risk, so may be buy the put spread and sell a call instead?

    2017/06/03 at 4:01 pm
  • From Terrapin Trader on Trade 32 Free Trade

    I have rarely used the ’25’ strikes,always gravitating to the round hundreds or fifties. I don’t know if that makes any difference and it may be that we backtest using quirky strikes. That is very much in the pipeline.

    2017/05/28 at 12:11 pm
  • From Terrapin Trader on Alpha and Beta

    I love the many articlkes written by PhDs on markets- about seeking alpha etc. For me I can never be a part of that world,but it intrigues me and there is always some value in reading and getting insights from the smart guys. I just don’t see buying a share portfolio as a way of optimising money for the individual

    2017/05/21 at 12:06 pm
  • From Terrapin Trader on Trade 30,Reversing Positions

    Today you could have closed out for a credit of 14 ( call at 28.5 and 42.5 for the put) You may have got that price or a bit less as the market has been crazy this week
    I was also going to show a helpful adjustment but that can wait for a while-in fact I’m reluctant to share it as it has taken me years to figure it out. Smarter traders may know a few twists here……

    2017/05/18 at 5:44 pm
  • From Terrapin Trader on Trade 30,Reversing Positions

    Today that 7550 call is 48.5. I had no time yesterday tpo show an adjustment wbut I will aim to update everyone throughout the week’s moves. After 10 consecutive up days,a new all time high in the face of inflation,and terrible numbers from VOD you have to suspect something is rotten in the state of Denmark.
    again I hope to reveal some of that too

    2017/05/16 at 8:18 pm
  • From Terrapin Trader on US,UK and the big 'V'

    The smart mopney is in options trading-the dumb money is in the market-that’s all they can do-buy stocks-risking a lot to get a measly dividend and perhaps more QE to boost the share price to an already stupid high valuation that will never make sense.
    Hence VIX is a very smart indicator and derivatives of it are traded big time.

    2017/05/01 at 10:54 am
  • From Terrapin Trader on Trade 27- Out of the Comfort Zone

    It looks risky as you could be faced with a short put spread costing 100. Yes you could-this trade has to be managed,but think of the flip side. Would you be doing the ratio spread? Would you be selling for a credit of 3? Not on your life- volatility is just way below the norm again. The only issue is the amount of time-we have <3 weeks for this to be a winner. However if FTSE stays above 7150 we lose 3, and live to fight another day. I looked at June prices but you'd be paying (63.5x2) minus 93= 34. While profit to the downside is theoretically massive I'd be looking for low cost trades that you can afford to lose. Some people might sweat on the June trade and watch that premium cost dribble away. Enjoy, and watch this one daily

    2017/05/01 at 10:43 am
  • From Terrapin Trader on Trade 27....Naked and Risky

    Another winner-the put is now trading for 1-why not close out and accept an annualised 18%- that’s twenty times what your bank would pay

    2017/04/26 at 6:13 pm
  • From Terrapin Trader on Trade 27....Naked and Risky

    I spend more time looking at options prices than anything else. Prices tell us a lot, so when calls are cheap but vol is up it looks like the market is not pricing in a meaningful rise.

    2017/04/23 at 3:42 pm
  • From Terrapin Trader on Trade 26- Going down?

    return on capital is best with a short spread and risk is limited. £500- £115= £385, worst way.
    You could do say 20 spreads with a trading account of £10k- just sayin’

    2017/04/17 at 12:47 pm
  • From Terrapin Trader on Trade 25- Iron Condor -Based on Premiums

    thecall spread is now about 8, puts still about 11

    2017/04/17 at 12:18 pm
  • From contactamipro on Making the Elusive First Million

    Really?? 16 doubles is less than two years! Exciting information. We can certainly backtest and i am sure if we are just aiming for 10 points, it would be something like less than 10 delta.. Awesome trade with more than 90% win probability.

    2017/04/09 at 4:39 pm
  • From Terrapin Trader on Making the Elusive First Million

    I was told it takes 16 doubles to get to that million from £100-doesn’t SOUND like a tall order….

    2017/04/09 at 2:31 pm
  • From Terrapin Trader on Trade 25- Iron Condor -Based on Premiums

    it’s been a while since we did this but the variation is that we are ignoring the Greeks and using premium as our guide, resulting in the strikes that select themselves- assuming that makes sense to anyone!
    After a while you get used to the way options are priced and while you may briefly see mis-priced options which you miss becasue the algo’s have seen them too, you will get a ‘feel’ for price and no trader should ever underestimate ‘gut feel’. We all want to sell options that expire worthless but that game has only one outcome-nobody wants to buy eventually.

    2017/04/09 at 12:17 pm
  • From Terrapin Trader on Trade 24 Ding Dong.................. (What?)

    ok currently this trade is worth about 10- but it’s there to run to expiry- it’s cheap enough not to worry about

    2017/04/09 at 11:40 am
  • From Terrapin Trader on Trade23- an Update- Repeating the Winning Ways

    now trading at about 6- again- easy isn’t it? Still sweating on futures or forex? Forget it- nothing comes close to options

    2017/04/08 at 5:34 pm
  • From Terrapin Trader on Trade 22 a Review

    now 21 for the put and 6 for the call spread- easy isn’t it?

    2017/04/08 at 5:23 pm
  • From Terrapin Trader on Trade 24 Ding Dong.................. (What?)

    interesting move today- looks like the 7300 put may have some value in it at expiry, the trade is now 18-20

    2017/04/03 at 9:37 pm
  • From Terrapin Trader on Trade 22 a Review

    this trade is now worth 36- still 30 for the put, but only 6 for the call spread

    2017/04/01 at 12:36 pm
  • From Terrapin Trader on Trade 22 a Review

    After all these years of trading-some terrible trades some well executed,I can honestly say I am still not able to define myself as a trader. I can be fickle and just suddenly ‘see trades’ or I can be methodical and super cautious as I have been for almost a year.
    There is nothing in our options world thet remotely equates to the sickening gut-wrenching horrors of day trading and trying to,in essence, guess a direction. Go with the trend? Yeah sure except the one day I choose to go in big. Use indicators-yes I like them but feel they are of limited use.Gann, Fibonacci,pivots,Andrews pitchfork,S&R? Love them all but…
    Take a well reasoned position in options? Every time. Do not be fooled into thinking options are like those other ETPs (exhcnage traded products) or even spread betting.
    We can trade intra-day intra-week intra-month/year.
    Most people are too bone idle to bother with options- but I’m so lazy I can’t be bothered with anything else, after an exhasutive journey into trading. Yes I’d love a bit of intra-day rough and tumble,but I don’t think it’s remotely realistic to make serious coin. If it was all you need to do to make a million is double up on each trade 16 times,starting with £100.

    2017/03/26 at 2:06 pm
  • From contactamipro on Trade 22 Stolen Strategy- The Jade Lizard

    Haha – I enjoyed the last image. FTSE100 has definitely been moving at snails pace – at least compared to the US indices!

    2017/03/19 at 10:29 pm