Optos Share Discussion Threads

[alphorn] 24/4/2014 22:11

Harv - no pharma positions for now. Tempted to open a GSK naked call ;)

[harvester] 24/4/2014 19:58

ALP: Yes, a fair range but after the news it's been quite volatile, jumping over 200 points intra-day. The results announced this morning seemed unexciting ; hence price jump must be due to Pfizer speculation . Anyway I felt nervous since the short calls are naked calls.
Just before market close I executed:
STO 1x Jul 3600puts @ 32 credit. Fingers crossed and hoping that I don't get caught at both ends . If bid speculation continues Pfizer may be forced to show their hand .
Do you hold any AZN positions ?

[alphorn] 24/4/2014 16:07

AZN will fall at some point to Pfizer; when, I don't know. It may be too highly priced now? July strangle covers quite a range.

[harvester] 23/4/2014 18:47

ALP: you may not have my current e-mail.
Will look up your contact details when I get back from travels .

ALP : I know you dabble a bit in AZN . Pfizer take-over coming ???
Today STO 1x AZN July 3400/4800 strangle @ 54 credit .
Good or bad move ???

[alphorn] 22/4/2014 10:29

Rolled 20x Lloyds June 72P -> Dec 76P for net credit of 4.5p. Every little bit helps.

Watching GBP - looking at an option if it hits 1.50 against Sfr.

Harv - I have your email somewhere and will mail you this week.

[harvester] 18/4/2014 06:29

ALP: we should re-establish private contact since I don't like to give much personal info on a public BB.
In general doing ok at the moment with positive returns.
April ftse 6925 and 6900 gave small gains.
Had to roll 16X VOD apr 221 puts to dec 195 puts for 4.25 credit .
Sold SSE mar 1800 Calls @ 11 and RDSB Jun 2500 calls @ 10 as well as
Ng dec 920 calls @ 7.25 . Sold long BSY sep 880/920 call spread @ 18 credit at small gain over long premium paid before .
Keeping a substantial cash reserve in case we get a sell-off .
Avoiding writing uncovered puts as much as possible .
Short May FTSE 7100 calls .

[alphorn] 16/4/2014 18:35

Becoming more difficult to make much out of writing options - is that why there are much fewer posts? Each year, and it is now around 15 years I make an assessment as to how well I have done against my target; the year to 31/3/14 it was 10% and I managed 7.5%. The target return is always set against the (non scientific) pot that I could lose which is always much much higher than the margin. 2014/2015 I believe could be more difficult.
How are others doing?

[alphorn] 16/4/2014 12:04

Rolled 5x Tesco June 340P -> Dec 340P for net credit of 5p. The calls are all fine ;-)

[younasm] 11/4/2014 07:26

The FTSE seems set to trade in a (edited) 250-pt range 6550-6800, I was expecting a final move up before the sell-off in the summer -- where I don't expect a recovery, but continued falls into 2015-16.

Anyway, my positions are now at risk of losses from short puts. I have spent the last two years mainly rolling forward and managing short calls. Puts were mostly expiring worthless.

Let's see if we get any recovery in the indices going into June 2014. I am bearish for the next 2-years.

[alphorn] 08/4/2014 11:08

A few small trades today; reducing exposure to UU and IAG in the process for a small net gain which all helps.
Not sure how long this downturn will last?

[harvester] 02/4/2014 08:31

Todays up-tick in Av. on ex-divi day indicates quite a bit of underlying strength in this share .
ALP: if it continues rising you could buy some call spreads to offset .

[alphorn] 01/4/2014 19:24

Harv - may take time although as I posted 18mths ago the situation was the other way around ;-)

[harvester] 01/4/2014 19:12

ALP: if Aviva up-trend continues it will take you quite a while to wiggle out of the short calls . I am short 10x sep & dec 560 calls which are partly covered by shares. Should be alright but too early to tell .Also expect the short sep 420 puts to end OTM unless the market dives.
Today I cashed in long 10x BT jun 380/400 calls for 8 credit at a small loss since BT seems to have run out of steam .

[alphorn] 01/4/2014 15:27

Hi Harv; here are my Aviva positions that need attention as xd tomorrow!

Rolled 11x Sept 400C -> Dec 440C for net debit of 25p.
The cost is reduced by the 18x puts that should expire for full premium.

Aviva is one of my 'sensible' positions and was losing around £30k at one time when the share price crashed; now it has swung the other way and the calls are the issue!!! I shall bring it towards a 10x straddle at some point.

edit: (2/4) Rolled 10x June 400P -> Dec 440P for net credit 20.25p.

[muffster] 28/3/2014 22:22

Best option, buy Topix. Inflation rising, bet it will be a bull market for next five years.
Ps, how do I write traded options for income?

[harvester] 28/3/2014 21:35

greetings Tilt .

ALP: I noticed that you had some Aviva option positions to attend to.

I also had adjustments to make which worked out fine.
My starting positions were
8x long Mar 470/480 calls and short 8x Apr 460/450 puts.
When the share price raced above 520 in march I rolled the 480 calls to sep and dec 560 calls and cashed in the long 470 calls @ very good prices around 50 credit.
Then tried to roll the apr 460 puts to sep 420 puts for 6.5 credit but the market makers did not engage.
During todays volatile trading I managed quite well .
First rolled apr 460 put to sep 420 puts @ -1 debit. Then sold the apr 450 puts for 15.5 and 16.75 credit . Quite pleased with the overall outcome .
At the end of the day the share price had recovered following the Aviva RNS notice .

[tiltonboy] 28/3/2014 15:16

Alp,

No real thoughts on it.

I cant see it having a major bearing on markets.

[alphorn] 28/3/2014 15:14

Tilt - thx. Any views on #126 above?

[tiltonboy] 28/3/2014 15:05

Trust all is well in option land for my good friends.

Best part of six months now since my facility was denied me, and I look back thinking that I could have made some decent money!

The one thing that I have noticed is that expiries come and go far quicker, when you havent got a position to monitor.

Continued good trading to all of you.

[alphorn] 25/3/2014 12:39

Rolled 5x UU June 720P -> Dec 720P for net credit of 19.5p.
(Not holding the June puts for the pennies re #126 above).

[alphorn] 24/3/2014 17:05

STO 10x Lloy Dec 76P for 5.25p.

[alphorn] 23/3/2014 10:49

I seem to be alone in thinking that the Scottish referendum will cause some disruption to the UK markets through the uncertainty running up to the vote and potentially a 'yes' result. Posters on some other threads obviously believe that it is a non event.

As you know my horizon is out 3-6mths in general so September is now in range. I may tip my open positions more to even bull/bear and give some more protection against sterling.

I note today's poll is very close for the outcome. Is it all irrelevant?

[harvester] 21/3/2014 17:29

well done ALP .
I took a number of full premiums but had to roll VOD mar 236 and 241 puts . Rolled them on to september and december for credit .
Tsco, SBRY and MRW in the doldrums at the moment but not a bad entry level for harvesting the divis .