Forum Archive Index - October 2003

[fntradingsolutions <fntrade@bigpond.net.au>]

I do not do ASX Options They are too illiquid. 

I trade the SPI on the Sydney Futures Exchange Great liquidity Very fast Fills from a Dealers Platform on my Computer straight to the Floor..

 

I use Lquay   www.lquay.com.au

 

----- Original Message -----

From: James Chamley

To: sharechat@sharechat.co.nz

Sent: Friday, October 03, 2003 10:23 AM

Subject: Re: [sharechat] Options by Woody

Hi Woody

 

If you wouldn't mind who are you using as a broker for ASX options?  What is involved in setting up an account to trade options on the ASX?  What sort of margin account is required?

 

Thanks for your help

 

 

Regards

 

james

----- Original Message -----

From: fntradingsolutions

To: Sharechat@sharechat.co.nz

Sent: Friday, October 03, 2003 11:33 AM

Subject: [sharechat] Options by Woody

Please I am not showing off by my e-mail here. The purpose is to show that there are other trades besides, fundamentals and shares. So please give me flak for the system not my motive!

 

I bought on Sept 9th several ( Shall we say 10 hyperthetical ) Put Options on the SPI when the price was 3248.  I bought

'10' at a strike price of 3250 for a cost of 90 = 90x 18 x10 = Total outlay $16200 plus commission. My Risk factor was locked in at 8% = $1296 . I sold them on Oct 2 for 176 each = 176x18 x 10 = $32220 at any one time my total risk was $1296.

That was my worst scenario. All based on the fact that 3250 was my cycle high which had to be reached by Sept 9 - 12.

 If anybody would like to know any more detailed info on this type of trading just let me know.

I am here to help NOT BRAG!

Woody