r*****e
发帖数: 792 | 1 short了这周到期的57.5的put，但是有加起来等量的dec和jan的65，67.5，70put。
没想到能跌这么多，靠，一下子就没什么利润了！
现在想盘算一下明天应该怎么操作才可以利润最大化。能想到的：
1，买回来short的put，假设相信gmcr一直跌的话。
2. 卖下周55的put，买回57.5的，可能得稍微贴点钱，然后就一直卖weekly的
put，strike price一点点的下降。不知道行不行得通？这样可以靠吃time decay
来贴补一下。
3.short股票不考虑了，不知道有多大油水，而且占用cash太多。
还有别的好办法吗，多谢了。 | l*********g
发帖数: 1154 | 2 you mean you sold 57.5 weekly put and hold the same amount dec and jan 65,67
.5,70 put?
if you keep selling weekly puts, if the stock keep dropping, you puts get
assigned, you will hold a lot of shares, is this what you want?
【在 r*****e 的大作中提到】
: short了这周到期的57.5的put，但是有加起来等量的dec和jan的65，67.5，70put。
: 没想到能跌这么多，靠，一下子就没什么利润了！
: 现在想盘算一下明天应该怎么操作才可以利润最大化。能想到的：
: 1，买回来short的put，假设相信gmcr一直跌的话。
: 2. 卖下周55的put，买回57.5的，可能得稍微贴点钱，然后就一直卖weekly的
: put，strike price一点点的下降。不知道行不行得通？这样可以靠吃time decay
: 来贴补一下。
: 3.short股票不考虑了，不知道有多大油水，而且占用cash太多。
: 还有别的好办法吗，多谢了。
| b******l
发帖数: 299 | 3 I would get rid of all positions tomorrow if I were you. The decision is
best made if you know what will happen to GMCR in the future. None of us
can predict its future price behavior.
【在 r*****e 的大作中提到】
: short了这周到期的57.5的put，但是有加起来等量的dec和jan的65，67.5，70put。
: 没想到能跌这么多，靠，一下子就没什么利润了！
: 现在想盘算一下明天应该怎么操作才可以利润最大化。能想到的：
: 1，买回来short的put，假设相信gmcr一直跌的话。
: 2. 卖下周55的put，买回57.5的，可能得稍微贴点钱，然后就一直卖weekly的
: put，strike price一点点的下降。不知道行不行得通？这样可以靠吃time decay
: 来贴补一下。
: 3.short股票不考虑了，不知道有多大油水，而且占用cash太多。
: 还有别的好办法吗，多谢了。
| r*****e
发帖数: 792 | 4 是的，有保护。我想还是明天看看我long的puts值多少钱再说吧。
以前干过类似的事，long的option time value太小，导致根本没有
利润可言。如果我每个星期roll over一次57.5的话，12月份还有
5次机会。1月份的还有额外的5次。得到的premium可以买更低的
puts，假设gmcr会去40-的话。这样也不亏倒是。
67
【在 l*********g 的大作中提到】
: you mean you sold 57.5 weekly put and hold the same amount dec and jan 65,67
: .5,70 put?
: if you keep selling weekly puts, if the stock keep dropping, you puts get
: assigned, you will hold a lot of shares, is this what you want?
| r*****e
发帖数: 792 | 5 我认为它应该继续向下一阵子，多少就不好说了。也许可以到40以下。
但是如果我close short的put话我得看看我long的put是否有不错的
time value，否则假设close同等数量的long/short的话明天没准还亏钱呢。
这样就不如往后roll over，得到的premium可以继续买低的put。
当然了，前提是一直看跌。
【在 b******l 的大作中提到】
: I would get rid of all positions tomorrow if I were you. The decision is
: best made if you know what will happen to GMCR in the future. None of us
: can predict its future price behavior.
| z***e
发帖数: 5600 | 6 You basically have a number of (calendar) put spreads which expresses a
bearish view (dont expect to make money in every single leg). As the stock
trades down significantly cross your down strike, you should make a decent
profit. If you do not want to continue to bet on whether the stock will be
up or down after, say, hitting 40 or 45 tomorrow, you can just close all the
positions (make sure you sell the puts at or above intrinsic value and buy
back the weekly near intrinsic). You would lose some to bid/offer but may
still be better than keeping a position which you have less conviction on
the direction.
【在 r*****e 的大作中提到】
: short了这周到期的57.5的put，但是有加起来等量的dec和jan的65，67.5，70put。
: 没想到能跌这么多，靠，一下子就没什么利润了！
: 现在想盘算一下明天应该怎么操作才可以利润最大化。能想到的：
: 1，买回来short的put，假设相信gmcr一直跌的话。
: 2. 卖下周55的put，买回57.5的，可能得稍微贴点钱，然后就一直卖weekly的
: put，strike price一点点的下降。不知道行不行得通？这样可以靠吃time decay
: 来贴补一下。
: 3.short股票不考虑了，不知道有多大油水，而且占用cash太多。
: 还有别的好办法吗，多谢了。
| r*****e
发帖数: 792 | 7 makes sense. may close all short positions and keep a few more long puts.
thanks all.
stock
be
the
buy
【在 z***e 的大作中提到】
: You basically have a number of (calendar) put spreads which expresses a
: bearish view (dont expect to make money in every single leg). As the stock
: trades down significantly cross your down strike, you should make a decent
: profit. If you do not want to continue to bet on whether the stock will be
: up or down after, say, hitting 40 or 45 tomorrow, you can just close all the
: positions (make sure you sell the puts at or above intrinsic value and buy
: back the weekly near intrinsic). You would lose some to bid/offer but may
: still be better than keeping a position which you have less conviction on
: the direction.
| z***e
发帖数: 5600 | 8 Alternatively, you can wait till the weekly expire, most likely you get
assigned and bought stock at 57.5 against high strike puts. You will
have zero delta and no more benefit if stock keeps trading down.
However, if the stock ever goes up above 65, holding the long against
the puts get some option value back (because you can then sell the stock
above 65 at a profit and still have the puts), vs. selling the puts at intrinsic.
The professional traders who don't have to worry about balance sheet would
do this as it preserves residual option value, but for retail guys it may be too
much hassle for a buck.
【在 r*****e 的大作中提到】
: makes sense. may close all short positions and keep a few more long puts.
: thanks all.
:
: stock
: be
: the
: buy
| r*****e
发帖数: 792 | 9 well said. i had similar experience before aapl's ER. got assigned
while shorting puts, but when aapl went up from 360->400, i did not
lose too much on my long puts. but i don't plan to do the same this
time. will either clear all shorts or roll over to next week.
intrinsic.
be too
【在 z***e 的大作中提到】
: Alternatively, you can wait till the weekly expire, most likely you get
: assigned and bought stock at 57.5 against high strike puts. You will
: have zero delta and no more benefit if stock keeps trading down.
: However, if the stock ever goes up above 65, holding the long against
: the puts get some option value back (because you can then sell the stock
: above 65 at a profit and still have the puts), vs. selling the puts at intrinsic.
: The professional traders who don't have to worry about balance sheet would
: do this as it preserves residual option value, but for retail guys it may be too
: much hassle for a buck.
| l*********g
发帖数: 1154 | 10 sounds like you are a guru, here i have a question for you, I bot Sina Nov
80 put and Nov 82.5 call yesterday by paying a lot of time value for the
option, and today after the earning, the time value vanished a lot, the
price dropped 10% today, but not enough to make my Nov 80 put in the money
enough to offset the big price drop on the Nov 82.5 call,
I am a little worried this sucker may just trade between 75-85 before Nov.
19, which will make my positions worth much less than what i paid for, do
you have any recommendations for me to minimize the loss?
intrinsic.
be too
【在 z***e 的大作中提到】
: Alternatively, you can wait till the weekly expire, most likely you get
: assigned and bought stock at 57.5 against high strike puts. You will
: have zero delta and no more benefit if stock keeps trading down.
: However, if the stock ever goes up above 65, holding the long against
: the puts get some option value back (because you can then sell the stock
: above 65 at a profit and still have the puts), vs. selling the puts at intrinsic.
: The professional traders who don't have to worry about balance sheet would
: do this as it preserves residual option value, but for retail guys it may be too
: much hassle for a buck.
| z***e
发帖数: 5600 | 11 The stock was ~85 yesterday? Then your call was ITM and your put was OTM,
hence you had a bullish bias in your strangle, i.e., you were slightly long
as of yesterday. Therefore, you lost money today after a 10% move down.
Now you could take a loss to get out, or if you want to "extract value" out
of the options, you would need to trade the stock well (7 days is still a
long time for this market). For instance, if you think 77.5 is the low, you
should sell the 80P now and keep the call hoping the stock would bounce.
If you think the stock can continue to trade down to, say, 70, you sell the
put (or buy stocks) when stock hits 70. But your first day loss is already
in and there is no magic to make it back. If you time the stock well, you
can add value, if you trade poorly you could lose everything.
【在 l*********g 的大作中提到】
: sounds like you are a guru, here i have a question for you, I bot Sina Nov
: 80 put and Nov 82.5 call yesterday by paying a lot of time value for the
: option, and today after the earning, the time value vanished a lot, the
: price dropped 10% today, but not enough to make my Nov 80 put in the money
: enough to offset the big price drop on the Nov 82.5 call,
: I am a little worried this sucker may just trade between 75-85 before Nov.
: 19, which will make my positions worth much less than what i paid for, do
: you have any recommendations for me to minimize the loss?
:
: intrinsic.
| l*********g
发帖数: 1154 | 12 thanks for your response which is very helpful.
exactly, I was slightly long by initiating the strangle position yesterday,
hoping for an up trend or big down. the problem is that before the earning,
most of the option premimum went to the time value,if the stock doesn't move
enough in either direction, the risk to lose money is big.
long
out
you
the
already
【在 z***e 的大作中提到】
: The stock was ~85 yesterday? Then your call was ITM and your put was OTM,
: hence you had a bullish bias in your strangle, i.e., you were slightly long
: as of yesterday. Therefore, you lost money today after a 10% move down.
: Now you could take a loss to get out, or if you want to "extract value" out
: of the options, you would need to trade the stock well (7 days is still a
: long time for this market). For instance, if you think 77.5 is the low, you
: should sell the 80P now and keep the call hoping the stock would bounce.
: If you think the stock can continue to trade down to, say, 70, you sell the
: put (or buy stocks) when stock hits 70. But your first day loss is already
: in and there is no magic to make it back. If you time the stock well, you
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