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Thread: Option Trading

  1. #11
    Junior Member omad's Avatar
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    Happy to compare notes David. I don't trade Collars, when you say Collar are you talking long stock, long put, short call?

  2. #12
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    Yes. Covered calls with a protective Put for insurance. Income is from time decay. I roll the position near expiry every week if the stock and options look good.
    It would be very useful to compare ideas in greater detail seeing as you also trade time decay successfully. Are we allowed to give private emails or Skype info on this forum?

    I would also be grateful if you could comment on my other posting above, in this thread, regarding tax issues. Thanks

  3. #13
    Junior Member omad's Avatar
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    Best to talk to your accountant regarding the tax issue, I'm meeting with my accountant next week so I'll run it by him and see what he says.

    As I mentioned I don't trade Collars, I normally don't trade weeklies either except for overnight earnings trades. My normal time frame is 20 to 60 days, so at the moment I'm trading Aug expiry, when Aug is down to 20 days till expiry I'll switch to Sept. The longer time frame gives me more time to be right.

    As for collars, it isn't a strategy I would use, it ties up to much capital buying stock so reduces my return on capital. For limited risk trades I aim for a return of 1% a day on the capital used. You can achieve the same thing, limited risk limited profit with credit spreads & and if volatility is low debit spreads. Debit spreads tend to be more directional and you are paying for them but you can still get Theta decay.

    Any reason you use Collars instead of credit spreads? Are you trading in a Reg T margin account or Portfolio Margin?

    Happy to exchange Skype details via private message but think its good to carry on discussion here so others can learn.

  4. #14
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    Hi Omad. I am keen to continue this thread in the future but I am taking long leave so will resume on my return. Cheers.

  5. #15
    Junior Member omad's Avatar
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    Sounds good.

  6. #16
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    Hi Im new and was wanting to know where to go to get a beginners guide so to speak on options trading and is it best here on nzx and asx or in the states?

  7. #17
    Junior Member omad's Avatar
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    Quote Originally Posted by denshare View Post
    Hi Im new and was wanting to know where to go to get a beginners guide so to speak on options trading and is it best here on nzx and asx or in the states?
    No options on NZX at the moment and liquidity on ASX not to good so the US market is your best option, the hours are not so good but you get used to it.

    A couple of questions for you denshare, what's your current option knowledge level, do you know what a call & put option are and what it means to buy or sell one? Also, why do you want to trade options?

  8. #18
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    No longer trading straddles nor options
    Last edited by joeshe915; 13-08-2016 at 12:08 PM. Reason: No longer trading Straddles

  9. #19
    Junior Member omad's Avatar
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    Joe, I've not heard of any of those people, I'm always a bit dubious of people selling training especially if it's just one strategy - but if it's worked for you that's great.

    Happy to catch up on Skype, that's why I started this post, it gets a bit lonely trading on your own with no one to bounce ideas off.

    I'm busy this week so will contact you via Skype next week.

  10. #20
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    Hi Omad good to hear from you. Looking forward to chatting on Skype. Keen to share and get ideas and trading successes. Rgd Joe

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