$350 profit, flat platinum gold #2

Earlier today platinum gold #2 was posted. Quick money is always welcome.

trades r posted live @tfo_medved

Exec Time	Spread	Side	Qty	Pos Effect	Symbol	Exp	Type	Price	Net Price	Order Type	Spread
6/6/2019 15:07	FUTURE	SELL	-1	TO CLOSE	/PLN19	19-Jul	FUTURE	801.9	801.9	LMT	536.7
6/6/2019 15:07	FUTURE	BUY	1	TO CLOSE	/GCQ19	19-Aug	FUTURE	1338.6	1338.6	MKT
6/6/2019 15:07	FUTURE	SELL	-1	TO CLOSE	/PLN19	19-Jul	FUTURE	801.9	801.9	LMT
6/6/2019 12:27	FUTURE	SELL	-1	TO OPEN	/GCQ19	19-Aug	FUTURE	1343	1343	MKT	540.5
6/6/2019 12:27	FUTURE	BUY	1	TO OPEN	/PLN19	19-Jul	FUTURE	802.5	802.5	LMT
6/6/2019 12:27	FUTURE	BUY	1	TO OPEN	/PLN19	19-Jul	FUTURE	802.5	802.5	LMT

Platinum - Gold trade #2

Long platinum short gold pair trade:

Exec Time	Spread	Side	Qty	Pos Effect	Symbol	Exp	Type	Price	Net Price	Order Type	Spread
6/6/2019 12:27	FUTURE	SELL	-1	TO OPEN	/GCQ19	19-Aug	FUTURE	1343	1343	MKT	540.5
6/6/2019 12:27	FUTURE	BUY	1	TO OPEN	/PLN19	19-Jul	FUTURE	802.5	802.5	LMT
6/6/2019 12:27	FUTURE	BUY	1	TO OPEN	/PLN19	19-Jul	FUTURE	802.5	802.5	LMT

follow @tfo_medved

Update: Crude Pain Trade

Crude pain Trade explained.

Crude option sellers are in pain now instead of option holders. Though 49.5 is still Out of The Money my choice here is "roll em down & out".

Exec Time	Spread	Side	Qty	Pos Effect	Symbol	Exp	Strike	Type	Price	Order Type
6/4/2019 8:38	SINGLE	BUY	1	TO CLOSE	/CLN19 1/1000 JUL 19	/LON19	49.5	PUT	0.8	LMT
6/4/2019 8:38	SINGLE	SELL	-1	TO OPEN	/CLQ19 1/1000 AUG 19	/LOQ19	46	PUT	1.03	LMT

This is a paper trade.

+$680, Flat Platinum - Gold pair

The entry was posted here.

Exec Time	Spread	Side	Qty	Pos Effect	Symbol	Exp	Strike	Type	Price	Order Type
6/2/2019 23:01	FUTURE	SELL	-1	TO CLOSE	/PLN19	19-Jul		FUTURE	803.5	LMT
6/2/2019 23:01	FUTURE	SELL	-1	TO CLOSE	/PLN19	19-Jul		FUTURE	803.5	LMT
6/2/2019 23:01	SINGLE	BUY	1	TO CLOSE	/GCQ19 1/100 AUG 19	/OGQ19	1310	CALL	22.1	LMT

Platinum - Gold pair trade

Platinum Gold divergence is at All Time High, i. e. ~$518.  10X trade:

Exec Time	Spread	Side	Qty	Pos Effect	Symbol	Exp	Strike	Type	Price	Order Type
5/31/2019 13:43	SINGLE	SELL	-1	TO OPEN	/GCQ19 1/100 AUG 19	/OGQ19	1310	CALL	18.6	LMT
5/31/2019 13:43	FUTURE	BUY	1	TO OPEN	/PLN19	19-Jul		FUTURE	792.9	LMT
5/31/2019 13:43	FUTURE	BUY	1	TO OPEN	/PLN19	19-Jul		FUTURE	792.9	LMT

Follow trades @tfo_medved 

SPX Puts & Calls, 0 DTE (paper trade)

Paper trading SPX options is fun.  Not sure I can do that for real.

Exec Time	Spread	Side	Qty	Pos Effect	Symbol	Exp	Strike	Type	Price	Net Price	Order Type
5/31/2019 13:48	SINGLE	BUY	1	TO CLOSE	SPX	31-May-19	2700	PUT	0.1	0.1	LMT
5/31/2019 13:36	SINGLE	BUY	1	TO CLOSE	SPX	31-May-19	2800	CALL	0.05	0.05	LMT
5/31/2019 10:45	SINGLE	BUY	1	TO OPEN	SPX	31-May-19	2655	PUT	0.05	0.05	LMT
5/31/2019 10:03	SINGLE	SELL	-1	TO OPEN	SPX	31-May-19	2800	CALL	0.25	0.25	LMT
5/31/2019 10:03	SINGLE	SELL	-1	TO OPEN	SPX	31-May-19	2700	PUT	0.35	0.35	LMT

Anatomy of Crude Pain Trade

"Max pain"  or "pin"  is the strike price at which option holders would suffer maximum financial losses at expiration. A tendency to pin at expiration and how to calculate the 'pin" strike is described elsewhere. Let us consider 2-3 weeks before expiration. The current open interest describes price levels that are significant in terms of money redistribution between the option writers and the option holders. Therefore a strike with a large open interest is expected to show significant resistance. In other words, the current open interest exposes the ladder of future resistance levels.

For example, for the active WTI contract,/CLN19, on 5/29/19 14:37:31 option pin is @60.0. The figure shows other important put strikes (calls better be avoided for now because of the tension with Iran).

Based on the above information,  49.5 Put 20 days to expiration was sold.

Exec Time	Spread	Side	Qty	Pos Effect	Symbol	Exp	Strike	Type	Price	Net Price	Order Type
5/29/2019 14:23	SINGLE	SELL	-1	TO OPEN	/CLN19 1/1000 JUL 19	/LON19	49.5	PUT	0.12	0.12	LMT

2-3 weeks to expiration is necessary to grab enough extrinsic value while more than 3 weeks may be to early for setting the option game. In summary, pin force and theta decay are on my side. It is a paper trade for a test purpose.