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Strategies & Market Trends : Option Strategies -- Ignore unavailable to you. Want to Upgrade?

To: randpaul who wrote (1877)	6/8/2017 1:21:07 AM
From: robert b furman	1 Recommendation Recommended By John Pitera Respond to of 2591

I put in GTC orders to sell puts at my desired level. If it triggers it gets me the price I want. I would think if you choose the level you want to sell your calls and the market pops up - the time premium may pop to the desired price you want to get. If you want to sell a bit further out in time - you can get a bit more time premium. In time decay I trust! Bob

To: randpaul who wrote (1877)	6/8/2017 6:08:09 AM
From: alanrs	Read Replies (1) \| Respond to of 2591

Limit orders only. I sold calls for years in a similar fashion to what you propose, put good for the day orders to sell in at 4am and went to work where there was no computer access. I typically would put 2-4 orders in, all outside the spread, then adjust what premium I'd accept the next day and the next depending on what happened. I don't do good till canceled orders on options because IB charges a small fee for the cancellation. Also, day orders allow me to adjust and force me to re-think each time. ARS

To: randpaul who wrote (1877)	6/8/2017 8:48:08 AM
From: CusterInvestor	Respond to of 2591

Depending what firm you are with, you may be able to do conditional orders. TDA has a system that lets you place orders such that part B only becomes effective if part A is filled, if that makes sense. That may allow you to place a day order for a stock and then have the option trade become active only after yo have gained the shares at your bid price.

To: randpaul who wrote (1877)	6/8/2017 7:24:54 PM
From: John Pitera	Read Replies (1) \| Respond to of 2591

Hi rand, Robert always has super sound advice...... my thought is that the VIX and implied volatility has been low for a statistically long period of time and the CEO of Interactive brokers has commented for the second time in the past 2 months that in his opinion, which I concur with you have a limited time window.... and you'll find it will be hard to get past Q3 without a volatility raising event that will make you wonder why you were writing those covered calls.... The 7th year of the decennial pattern where the market has been this strong makes a good sized check back pretty darn likely. anyone correct me if I am wrong.... does it not continue to be the case the the premium decay is greatest in the 45 days prior to expiration? We can revisit this post in October and it'll probably make a lot more sense... what I'm saying..... John