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Thanks for the clarification on PUT sell.

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luckytbal said:   
davef139 said:   
Bend3r said:   
davef139 said:   
VAIndigo said:   First time selling a put: Want to make sure my understanding is right.

I sold VNR0918 strike $7 yesterday, assuming VNR goes up and the $7 PUT will be worthless. Its moving in the right direction. But, assuming PUT goes down further, do i have to take any further action or i just let it expire? Not clear on that.

  
If it expires worthless, do nothing and you just collect the premium.
If it expires in the money, you will be exercised upon and will be forced to shortsell @ $7 or if you have shares they can be sold.

  You're mixing up calls and puts (or otherwise I just didn't understand your wording.).  If you have a short put that the other party exercises, it means you buy the stock from them not sell it to them.

If it expires worthless, there's nothing to do it just goes away.
If it expires in the money (the stock is below $7 at expiration), then there's 2 possible outcomes:
- You think it will expire in the money and don't want it to exercise, then you can buy it back on the last day before expiration.
- You're ok with it exercising, so you leave it alone.  This means the next day you will have 100x(numberofputs) shares show up in your account, that you pay $7 each for.  If you don't have cash to cover or margin, what specifically happens to correct this could vary by broker.

  
Oops I did get that backwards. It is a buy at$7

LongDongSilver said:   
davef139 said:   
VAIndigo said:   First time selling a put: Want to make sure my understanding is right.

I sold VNR0918 strike $7 yesterday, assuming VNR goes up and the $7 PUT will be worthless. Its moving in the right direction. But, assuming PUT goes down further, do i have to take any further action or i just let it expire? Not clear on that.

  
If it expires worthless, do nothing and you just collect the premium.

  From my understanding, the price that crosses the tape on Friday at 4:02pm ET is the official price for option expiration.  If the CEO dies from a plane crash and the stock tanks 20% AH at 5:15pm it shouldn't matter.  Am I correct?

  
Expiration happens on Sat. so any afterhours pop can put you ITM and exercise. While retail brokers usually say you have an hour after close or so, I do believe people with more direct exchange access have to 11.59pm

  no, options expire on Fridays

  
Did this just change recently? They were to expire on Sat following the 3rd Friday. They do however stop trading on Friday.

rated:
davef139 said:   Expiration happens on Sat. so any afterhours pop can put you ITM and exercise.
 

  They changed expiration from Sat to Fri two years ago.

rated:
TonySpero said:   
davef139 said:   Expiration happens on Sat. so any afterhours pop can put you ITM and exercise.
  They changed expiration from Sat to Fri two years ago.

  it really don't matter much, not being nit pickey but u might be at a trivia drinking party and need to know>
or u can put in the useless facts file

http://www.cboe.com/LearnCenter/Concepts/Beyond/expiration.aspx

rated:
TonySpero said:   
davef139 said:   Expiration happens on Sat. so any afterhours pop can put you ITM and exercise.
  They changed expiration from Sat to Fri two years ago.

  
I just checked a opex calendar, looks like they changed starting with Feb 2015 options, as Jan 15 still expired on Sat.

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good luck to everyone for next week, ignore the early morning futures  and get some good sleep
hopefully next week we all make Big Money Big Money and no Whammy

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Still half hour to go, "it ain't over till it's over"

Edit: DJIA went down 3 digit again, I'd be happy if DJIA finish flat.

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davef139 said:   
TonySpero said:   
davef139 said:   Expiration happens on Sat. so any afterhours pop can put you ITM and exercise.
  They changed expiration from Sat to Fri two years ago.

  
I just checked a opex calendar, looks like they changed starting with Feb 2015 options, as Jan 15 still expired on Sat.

  Change went into affect August 31, 2013, they grandfathered in options.
https://www.cboe.com/publish/RegCir/RG13-118.pdf

rated:
"http://www.bidnessetc.com/51306-fitbit-inc-hits-historical-low-a...

LOL Historical lows? Didn't they IPOed just couple of months ago?

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Will there be a cute little sell off into close?

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foeplay said:   Will there be a cute little sell off into close?
 Cute little selloff already happened, I'm hoping for a little run up so that we can have one flat day for God's sake!!

rated:
luckytbal said:   
TonySpero said:   
davef139 said:   Expiration happens on Sat. so any afterhours pop can put you ITM and exercise.
  They changed expiration from Sat to Fri two years ago.

  it really don't matter much, not being nit pickey but u might be at a trivia drinking party and need to know>
or u can put in the useless facts file

http://www.cboe.com/LearnCenter/Concepts/Beyond/expiration.aspx

  Am i misreading that article, or did they change the "date" in the name of the option, but the last trade/order day was and remains on the same Friday?

So it's just a change in the label?  How is that less confusing?

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sandy05 said:   
foeplay said:   Will there be a cute little sell off into close?
 Cute little selloff already happened, I'm hoping for a little run up so that we can have one flat day for God's sake!!

  8 minutes to decide to sell my aapl calls...  I should just sell now, but I'm being greedy I suppose :/

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UVXY up 18%. Whats going on!

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"Twitter commits to increase percentage of women in company to 35%"

Great!! All we need to create a quota system in the companies. Technically, men are the minority in world, not women!!

rated:
Bend3r said:   
sandy05 said:   
foeplay said:   Will there be a cute little sell off into close?
 Cute little selloff already happened, I'm hoping for a little run up so that we can have one flat day for God's sake!!

  8 minutes to decide to sell my aapl calls...  I should just sell now, but I'm being greedy I suppose :/

  going up now.

rated:
sandy05 said:   
foeplay said:   Will there be a cute little sell off into close?
 Cute little selloff already happened, I'm hoping for a little run up so that we can have one flat day for God's sake!!

  You called it, flat.

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We end the day better than what we started today !!!! Have a nice week end...

rated:
TonySpero said:   
sandy05 said:   
foeplay said:   Will there be a cute little sell off into close?
 Cute little selloff already happened, I'm hoping for a little run up so that we can have one flat day for God's sake!!

  You called it, flat.

yup! Was not too bad day to end the week,

rated:
AAPL Aug 28 '15 110 Call
Sold 5 x $3.05
Time 14:57:21
Net Amount: $1525.00
Realized PNL: $765.03

I wonder how this compared to the others that all took out these calls monday.  It worked out much better than the LL trade I followed umcsom on previously.

If I'd waited another minute probably would have got $100 more.. Oh well, I think I was greedy enough not selling yesterday. Still doubled money . I just have to stop looking at and frowning at the RGR I sold last Friday that's up 10% already ($5k imaginary "lost profits")

rated:
While Many Panicked, Japanese Day Trader Made $34 Million

http://www.bloomberg.com/news/articles/2015-08-28/while-many-pan...

He has a twitter account it's in Japanese, all I see is boxes, used Google translate, but lost in translation:

https://translate.google.com/translate?hl=en&sl=ja&tl=en&u=https...

rated:
Bend3r said:   AAPL Aug 28 '15 110 Call
Sold 5 x $3.05
Time 14:57:21
Net Amount: $1525.00
Realized PNL: $765.03

I wonder how this compared to the others that all took out these calls monday.  It worked out much better than the LL trade I followed umcsom on previously.

If I'd waited another minute probably would have got $100 more.. Oh well, I think I was greedy enough not selling yesterday. Still doubled money . I just have to stop looking at and frowning at the RGR I sold last Friday that's up 10% already ($5k imaginary "lost profits")


I rolled mine into a 113/116 spread. Not sure how that will work out. Sold at 1.10 / Paid 1.80 / Sold .80

rated:
PSX up 2.95% today, should fly high on Monday.

http://www.bloomberg.com/news/articles/2015-08-29/berkshire-disc...

rated:
ICMATULKASPRMKY said:   
Bend3r said:   AAPL Aug 28 '15 110 Call
Sold 5 x $3.05
Time 14:57:21
Net Amount: $1525.00
Realized PNL: $765.03

I wonder how this compared to the others that all took out these calls monday.  It worked out much better than the LL trade I followed umcsom on previously.

If I'd waited another minute probably would have got $100 more.. Oh well, I think I was greedy enough not selling yesterday. Still doubled money . I just have to stop looking at and frowning at the RGR I sold last Friday that's up 10% already ($5k imaginary "lost profits")


I rolled mine into a 113/116 spread. Not sure how that will work out. Sold at 1.10 / Paid 1.80 / Sold .80

  
Expect it to do good imo. pump and dumpskies before teh Sept 9 news imo

rated:
<< MONDAY >> AUG 31

after

DANG - E-Commerce China Dangdang Inc


<< TUESDAY >> SEP 01

before

DLTR - Dollar Tree

after

AMBA - Ambarella
AVAV - AeroVironment, Inc
BOBE - Bob Evans Farms
HRB - H&R Block
QIHU - Qihoo 360 Technology Co. Ltd.


<< WEDNESDAY >> SEP 02

before

GIII - G-III Apparel Group
VRA - Vera Bradley

after

COST - Costco Wholesale
FIVE - Five Below


<< THURSDAY >> SEP 03

before

CIEN - Ciena Corporation
CPB - Campbell Soup Company
JOY - Joy Global
LE - Lands' End
MDT - Medtronic

after

PAY - VeriFone Systems

rated:
Why the futures are down 180 points? Whats the bad news?

rated:
jhapad said:   Why the futures are down 180 points? Whats the bad news?
  
Asia down again? 

rated:
jhapad said:   Why the futures are down 180 points? Whats the bad news?
  China, Fed hawk

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NFLX down almost 3%.

rated:
jhapad said:   NFLX down almost 3%.
  Epix hunger games effect

rated:
jhapad said:   NFLX down almost 3%.
  gonna pick some up their japan launch Wednesday might stir it up

rated:
On the other hand, TSLA is rolling. Maybe breaking out of its funk finally. If it breaks 255 I'll close out the rest of my puts and get ready to go long again.

rated:
SpeedingLunatic said:   On the other hand, TSLA is rolling. Maybe breaking out of its funk finally. If it breaks 255 I'll close out the rest of my puts and get ready to go long again.
Holding puts on TSLA? I hope you are not losing your shirt!
I loaded up last week around $225. Been working out well so far...

rated:
jhapad said:   
SpeedingLunatic said:   On the other hand, TSLA is rolling. Maybe breaking out of its funk finally. If it breaks 255 I'll close out the rest of my puts and get ready to go long again.
Holding puts on TSLA? I hope you are not losing your shirt!
I loaded up last week around $225. Been working out well so far...

  
I picked them up around $249 last week, so only down slightly.  I have a handful of negative cost basis vertical call spreads in the 275-325 area (ranging from sept-march16 expirations) that I've acquired over the last few months, so up is good too.

rated:
Nice dip buying opportunity today, oil is gonna be killing some people now. UWTI, is making me HAPPY!

rated:
Based on all the options action on oil related companies, we might have a bottom. It's getting crazy, oil prices spiking. RALLY TIME

rated:
Got rid of my SJM 115/120 spread, initial was 81c debit. exited at $2.70 credit, prob could have held out for more, but I want some buying power back.

rated:
davef139 said:   Nice dip buying opportunity today, oil is gonna be killing some people now. UWTI, is making me HAPPY!
  NFLX is killing me today with 1.5K shares.. Otherwise it is not a bad day...

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