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I use TOS for execution and Sierra Chart for analysis. So, I already have my levels that I know where I want to sell. All I'm doing is waiting for an opp to present itself.
On 4/15, I was actually at a baseball game. I checked TOS on my phone and saw the day was selling off. I knew I wanted to start a position in 1465 puts at 2.00, so I placed my first order. Through the day, I kept checking...and towards the end of the day, there was another sell off. As part of my plan, I was already committed to selling more in the 3 area. I saw there was an offer out there for 3.30, so I tried to sell more at 3.20, but the market moved up a little and the offer went moved to 3.20...so, I moved my offer to 3.15 and was filled shortly after.
I was committed to add more in the 4 - 4.30 range as well, so I tried on 4/18, but the 1465s never traded that high, even with the move down, so no fill.
It's about finding the strike you want to sell and then waiting for the opportunity to present itself to sell it.
Calls are much more difficult...as we know, when price increases, even rapidly, volatility doesn't typically expand as much as it does when prices moves swiftly to the downside.
So, even though this week in ES was 45.50 points...that move off of 1530 to today hasn't increased the value of the call options at the level I want to sell really to the point where it makes sense to sell.
In calls, I've been kicking around the idea of taking in less premium for the same strike, while still scaling in...like yesterday for instance...after ES moved to the 88 area and backed off a little, I was expecting a retest of the HOD, so I was offering the 1615 WK1 calls for 1.20. It didn't get as high as I needed and they only went to 1.10 on the retest...so I was never filled. They are trading .35 x .50 right now. Frustrating, but nothing I can do...onto the next one.
What do you use for charts? Execution? Method of Analysis?
That's weird. Why would your margin requirements be less than mine, especially with those short 5 ESK31290P? You have more short exposure, so your margin requirement should be higher than mine.
Can you uncheck the box, rerun just the 10 Puts and post a screenshot?