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💡 $357 profit with 72% PoP STRANGLE - #1 trade in my challangeTrade Overview: Initiated my first options trade for the annual challenge on January 2nd with an IWM strangle. Observing high IVR in the index, I capitalized on the recent VIX spike to enter the 45DTE 212/188 strangle for 3.57cr. Trade Management: Rolling Strategy: Will roll legs as needed before expiration if price diverges. Loss Management: With a FWB:12K account, I'm capping floating loss at $200. Closing Strategy: Targeting to close around 21DTE. Trade Details: Symbol: IWM Option Type: Strangle 45DTE Entry Date: January 2, 2024 Entry Price: 3.57cr Required BP: $1681 Max Profit: $357 (20% of capital) PoP: 72% Positions: IWM Feb 16, 2024 212.00 CALL - Sell | Price: 1.76 | Qty: 1 | R. PnL: 0 | Commission: 1.251 | Fees: 0 IWM Feb 16, 2024 188.00 PUT - Sell | Price: 1.81 | Qty: 1 | R. PnL: 0 | Commission: 1.2511 | Fees: 0 Key Metrics: Tasty IVR: 42 (High) Breakevens: 184/215
AMEX:IWM
by TanukiTrade
UROY Uranium finance lease mining play LONGUROY does royalties foe uranium mining ore to refined et cetera. On the 60 minute chart, it has been on fire this week picking up 30% in market cap showing explosive volumes at 5X and sustained. The past two days have been rest and recuperation in consolidation. The zero-lag MACD suggests there is more upside in the near term with a line cross under a histogram rising from zero. The advanced RSI indicator shows a relative strength pullback from 80ish to about 65 and surprisingly the linear regression lines suggest an oversold state at present. I will take a long position here which may be risky at nearly 2 standard deviations above a rising mean VWAP and extended from the POC line of the volume profile but the supertrend indicator is showing a stepped rise and that is good enough for me. I have a new position in UEC a penny energy stock in the uranium subsector.
NASDAQ:UROYLong
by AwesomeAvani
5
ABT Abbott Laboratories Options Ahead of EarningsIf you haven`t sold the regional top on ABT: Nor reentered this fantastic dip: Then analyzing the options chain and the chart patterns of ABT Abbott Laboratories prior to the earnings report this week, I would consider purchasing the 115usd strike price at the money Calls with an expiration date of 2024-2-16, for a premium of approximately $2.26. The chart is overextended and the RSI overbought, but I think there is one more leg to go before a correction. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NYSE:ABTLong
by TopgOptions
1
Gapped But Not Forgotten - NIFTYAs I posted earlier in my previous post yesterday, FINNIFTY went to cover the unfilled zone on the marked levels today, successfully hitting the marked zone. Coming to the chart of NIFTY, it can be seen there are some old dues for this index to clear as well, which can be expected as early as tomorrow since the unfilled zone of 550-480 can be seen just below todays closing which shall see some activity as per previous moves. The covering of these gaps ups (& downs) has never been more exciting as a options buyer where such sharp moves can be seen forming consecutively.
NSE:NIFTY
by nikhilchhabra
Total account value: $374.50. Goal: $5,000. Follow this post. 🔥I have been practicing for exactly 1 month. Took two accounts from 200 to 600/800. But the gains did not hold up well. So I refined my strategy again and again. Time to share the journey with you as it's happening. Going to post daily updates and trade reviews in the updates of this idea. The goal is $5,000. There will be bumps in the road, but I will try to prevent major setbacks. You WILL need: Cash account. Not margin. Patience. Discipline. Take gains quickly. Stop waiting for moonshots. Will be using trend analysis, chart patterns, etc. Get hyped. Let's get this money - get ready and follow me/ this post.
SP:SPX
by kingdips
1
MDB MongoDB Options Ahead of EarningsIf you haven`t bought the dip on MDB here: or sold before the previous earnings release: Then analyzing the options chain and the chart patterns of MDB MongoDB prior to the earnings report this week, I would consider purchasing the 435usd strike price Puts with an expiration date of 2023-12-15, for a premium of approximately $23.50. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NASDAQ:MDBShort
by TopgOptions
GME GameStop Options Ahead of EarningsIf you haven`t sold GME before the previous earnings: Then analyzing the options chain and the chart patterns of GME GameStop prior to the earnings report this week, I would consider purchasing the 15usd strike price at the money Calls with an expiration date of 2024-1-19, for a premium of approximately $2.63. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NYSE:GMELong
by TopgOptions
84% PoP - Playing the Oil Prices with /MCL Futures $USO $CL I've decided to make a play on the oil prices and chose /MCL futures for this venture. The trade required a BP (buying power) of $600, with a maximum profit potential of 1.07cr. This sets up a favorable risk-reward ratio of 1:6. The IVR (Implied Volatility Rank) stands at 51, which is advantageous for the credit strategies I prefer. With a PoP (Probability of Profit) of 84%, the conditions seem ideal for the 34 days duration I've set for selling the 70 put leg. I opened an semi-bullish position with a put short on the January expiry /MCL futures. My expectation is that the oil prices will either not fall too rapidly or will actually rise. For future management of this position, I have two scenarios in mind: If the Oil Continues to Fall Strongly: In case the oil continues its strong downtrend, I plan to sell a call leg on top, transforming the position into a strangle from the current naked put. If the fall is steep, or I fear that the break-even point of $69 might be breached, I'll hedge my risk by purchasing a put around the 60 strike, turning it into a credit spread and wait for the 21 DTE (Days to Expiry). Stagnant or Slight Rebound in Oil Prices: If the oil price doesn't move much or rebounds slightly, I'll quickly close my position for a profit. The target? About 50% of the original credit received for writing the put, which amounts to roughly $50. This would mean a 10% return on my utilized capital, which I find quite satisfactory. In summary, this strategic move in oil futures trading is well-aligned with my risk appetite and trading preferences, providing a good balance between risk management and profit potential.
NYMEX:MCLF2024Long
by TanukiTrade