[Upthrust86]

Originally Posted by james_gsx »

I know I did

I bought puts, instead of trading the ES. I know, not exactly TL friendly but whatever. I bought July $132 puts at $2.32, now they are trading near $4. Not as big of a gain had I shorted 1 ES contract, but had this trade turned against me it would have been bad.

Can you recommend where I might be able to learn about options on the eminis? I'm a real newb for options, but would like to learn about them and trade them on a swing basis.
Thanks

[brownsfan019]

Originally Posted by atto »

I saw you make the same comment on ET when someone asked about a candlestick pattern (and you replied the same). Well played, good sir.

(Oh, he's just a Hershey trader, pay no attention )

Kinda weird on how on two separate forums there are people commenting about candlesticks yet using bar charts...

[james_gsx]

Originally Posted by Upthrust86 »

Can you recommend where I might be able to learn about options on the eminis? I'm a real newb for options, but would like to learn about them and trade them on a swing basis.
Thanks

Before you go out and start trading options on the eminis I would start on the SPY first. You need a solid understanding of all the greeks and how they all work for and against you. Not to mention the options on the futures are expensive, so personally I would rather sell the options and collect the premium while theta and vega work on my side compared to just buying naked calls or puts for short term swing trades. But just about any trading website will talk about options, if you can't find one then investopedia has a lot of stuff, and some good articles on greeks such as position delta, volatility, etc.

[jonbig04]

Originally Posted by james_gsx »

Before you go out and start trading options on the eminis I would start on the SPY first. You need a solid understanding of all the greeks and how they all work for and against you. Not to mention the options on the futures are expensive, so personally I would rather sell the options and collect the premium while theta and vega work on my side compared to just buying naked calls or puts for short term swing trades. But just about any trading website will talk about options, if you can't find one then investopedia has a lot of stuff, and some good articles on greeks such as position delta, volatility, etc.

Word. The options on futures can be pretty nuts. As you said though you can make a decent amount via calendar spreads etc selling premium with theta on your side. Seems easy the first time you do it. It's not. haha I've made and lost my fair share in options.

[atto]

Originally Posted by jonbig04 »

Word. The options on futures can be pretty nuts. As you said though you can make a decent amount via calendar spreads etc selling premium with theta on your side. Seems easy the first time you do it. It's not. haha I've made and lost my fair share in options.

I think you mean "collecting premium". Regardless, I recommend that newbies never short gamma. You're potentially exposing yourself to extreme risks.

As a general rule of thumb, even if you've found an "amazing" options strategy... if it's that easy, the edge would be beaten out long before you get there.

Originally Posted by james_gsx »

Before you go out and start trading options on the eminis I would start on the SPY first. You need a solid understanding of all the greeks and how they all work for and against you. Not to mention the options on the futures are expensive, so personally I would rather sell the options and collect the premium while theta and vega work on my side compared to just buying naked calls or puts for short term swing trades. But just about any trading website will talk about options, if you can't find one then investopedia has a lot of stuff, and some good articles on greeks such as position delta, volatility, etc.

This thread on Options might have more info for ya.

[ammo]

Originally Posted by Upthrust86 »

Can you recommend where I might be able to learn about options on the eminis? I'm a real newb for options, but would like to learn about them and trade them on a swing basis.
Thanks

search the cboe.com web pages,there is a ton of free info there they want the business and want educated traders so they are glad to provide the material