[FX put option mistake]

1 hour ago, dmedin said:

Don't worry, we all make mistakes.  Everyone here has lost a lot of money on short-term trading.

Exactly

hope they corrected it for you

[Indices]

so whats the direction you think on this @cheviot ? and same to be applied to Wall St?

[New share dealing platform - what do you want]

On ‎14‎/‎02‎/‎2020 at 11:59, phoenix said:

Would like a full Level 2 functionality (albeit a premium paid for service) as there are very few platforms in my opinion that have a decent GUI on UK Level 2 (IG CFD Level 2 is limited to select securities) .

SECOND THIS!

don't know much on the second part.

[New share dealing platform - what do you want]

On ‎14‎/‎02‎/‎2020 at 16:21, Guest 5trelok said:

I want the old platform back - this is diabolical

talk me thru that

[My COVID-19 trade]

of course....

The 27120 Call booking at 221 (up 2.2x so £220 running profit from ~ £100 risk)

The 26680 Put quoting 23 (off 75% or so, so a running loss of £77 on ~ £100 risk)

[Create price alerts by right clicking chart]

nice idea

so it would link to this price?

[My COVID-19 trade]

59 minutes ago, andysinclair said:

Just looking options on IG for the first time...

If you buy the 26680 put at 101 then to make money you need the market to drop 246 points (to the strike at 26680) + 101 to cover your costs, so a net drop of 347 points (to 26579)  before you start making a profit?

look at it this way - the prem of the strike 100 points above at 26780 are at 130.5 so assuming the current market was there (all other things being equal) you could reasonably assume the premium of the one we traded at 26680 would be about 130, which is a 30% return on your initial risk.

So it doesn't need to move significantly for the position to still make money.

hope that makes sense

[FX put option mistake]

46 minutes ago, Snail said:

Thanks for your reply. I’ve just realised the actual error I’ve made. I opened a 12300 strike price option instead of a 13300 as intended 🤦‍♂️. 

Ill try giving IG a call but I can’t see them reversing the trade.

As the 12300 is so far OTM they may scratch that - the prem hasn't moved.

The 13300 is obviously ATM now with prems all over the shop so I doubt they'd fill you on an old price, especially as market has pulled off since then so the prem on puts should have increased.

But still - I'd be surprised if they didn't reverse the first one.

[My COVID-19 trade]

breakeven would be 26680 - 101 = 26579

however the premium of the option can increase without that happening.

[FX put option mistake]

but yes it still can increase in premium value before if there is a rally in your favour

[FX put option mistake]

what strike?

[£1 a point, £80 risk trade on Wall St]

10 hours ago, Guest Akshal trder said:

So you could have also bought the call and the put and sssume that there was going to be movement but don’t know what way

like a huge out the money strangle 

yes you could have done this as well

your max risk would have been the 80 and the 50 = 130 quid total, and the NET profit would have been the 820 profit on the put, minus the 130, so NET PROFIT of 690 quid on a 130 quid risk. Not bad.

[My COVID-19 trade]

Following on from this post I made a few days ago I decided to show one of my options trades yesterday on Wall Street as an option with a daily expiry. I thought we would have a short term swing and see a rally (before plummeting again) so I bought the call. Turns out it didn't go so well but I only lost 80 quid on a CALL on a market which fell 800+ and I was dealing £1 a point which wasn't too bad in my eyes!

I also posted a PUT trade a couple of posts down which ended up 820 quid from a £50 risk. Not bad (if you had called the direction right  ) so probably worth doing again.

Lets look at the US and do another? But risking £100 as it's early on in the day. Or we can look just before US open and see what's occurring.

1. If you think the market will rally you could buy the call at A (103.6)
2. If you think the market will fall you could buy the call at B (101.1)

both of these are daily options. as you're buying you cant lose more than that trade size, and given the moves we've seen that's the trade for me right now.

DAX down 2% but wall street not seeing it right now only down 0.6%, so I'm going with the PUT today. Waiting for retail to wake up and get scared.

[£1 a point, £80 risk trade on Wall St]

on mobile so wont screenshot 

but that 27900 is at 820, seven minutes before the close. Good job if anyone traded it. 

meanwhile I'm only 80 quid down which given the move.... I can live with

[£1 a point, £80 risk trade on Wall St]

my trade is so far gone you have to laugh - look ho many worthless options above me 28100 strike - its unreal. At 7.30pm we're looking like this.

That 27900 put though is storming at 780 points (up from 50!). Bet of 50 quid for a 15.6x increase. I (would have) like(d) those returns.

BUT im staying optimistic. Risk has been managed on a crazy crazy day.

[£1 a point, £80 risk trade on Wall St]

to put into perspective … whose up for catching a falling knife?

[£1 a point, £80 risk trade on Wall St]

2 minutes ago, dmedin said:

There's an outside chance you could make money though, great thing about an option.  Warren Buffett could be poised to spend his $120 billion any minute now

true. scores on the doors before I think about going home are....

The call I actually bought (and the put I should have bought  )

[£1 a point, £80 risk trade on Wall St]

I also imagine lots of people trying to trade the swing (bUt tHe DoW hAs HarDly EvER hAd a gAp DoWn aNd ThEn nOt rAlLiEd) but have then been caught out and had to sell to close didn't help.

and the mom and pops selling on the open

 

and

 

 

[£1 a point, £80 risk trade on Wall St]

Just now, Bopperz said:

That was a nasty move down wasn't it! All in 30 minutes, blink and you'll miss it.

fortunes to be made and lost today my friend

whats your trade?

[£1 a point, £80 risk trade on Wall St]

update. my punt is now basically worthless.

positives

• im down ONLY 80 quid, not 495 which the market has **** off today since 2.30  
• it's only Tuesday

 

that 27900 PUT, if you had traded it on the outset (basically the same trade but the other direction) you would be £250 up. So good job if anyone did that  my fee is only 10%  

happy trading folks. Manage that risk it a mad market right now.

will try and update later.

[£1 a point, £80 risk trade on Wall St]

1 minute ago, dmedin said:

IG say there isn't enough demand for more options but how can we register demand?  Options on all the commodities, indices, FX pairs and even stocks would be awesome and generate more business.  I see they have cr@ppy ones like the Swedish stock market lol.

trade them I would guess? obviously they can see all the volumes so an increase in volume probably shows increase demand.

there are all the big boys tho, FTSE, dow, DAX, euro dollar and other major FX. Oil and gold, but yes they are looking a little thin there.

[£1 a point, £80 risk trade on Wall St]

36 minutes ago, dmedin said:

FWIW I believe (hope) Wall Street gets much lower

you could be trading this then  £80 risk

ALSO

look at the PUT 27900 in the original image when it was at 50, now it's at 150. Triple your risk money in the first hour of trading, with only £50 maximum risk (and 150 profit now - not looking at spread either).  

power of options hey.

[£1 a point, £80 risk trade on Wall St]

update: wall street getting slammed!

the 28100 strike is now at 27/33, however I'm only 47 quid down right now.

If I was trading £1 on wall street spread bet i'd be £230

[£1 a point, £80 risk trade on Wall St]

oh this is a straight punt and hope for the best. Downside move is likely to be less than upside I would think, and buying an option is max risk of the premium so won't get stopped out.

can hold until 9pm , and only need a 120 point or 0.4% move up to make money. which I feel isn't much.

Plus only 80 quid to get into the trade rather than 5% which is 1400 on a regular spread bet.

[£1 a point, £80 risk trade on Wall St]

god knows which way it's going to go. But i'm happy to risk £80.30 on a trade like this.

buying a daily call at 28100 strike so making money if wall street settled above 28180.3

in a market like this who knows what gonna happen so it's all you can do. lets see where it settles.