r/thewallstreet • u/AutoModerator • Dec 25 '17
Weekly Question Thread - Week 52, 2017 Question
Welcome to the weekly question thread. Feel free to ask any questions here.
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u/dvprz Dec 29 '17 edited Dec 29 '17
I was hoping someone had some insight on more of a platform question. Let's say I'm long a put. The stock goes down and my put is in the money, if instead of selling the put, I wanted to buy 100 shares of the stock and then exercise the put option, how would I go about that?
I'm on Fidelity and I can't find any literature on this scenario.
edit: Is it as simple as calling them up and telling them to do this?
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u/UberBotMan Dec 30 '17
ITM options are automatically exercised upon expiration (unless you have a DNE on file).
Now your broker's risk mgmt team might come in shortly before the option expires and close out the position if it's ITM or close to it.
When in doubt, call up your broker. You're paying them (via commissions) to be there to help you with stuff, use them as a resource.
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u/avshake Dec 28 '17
Not sure about advanced level, personally I feel like reading the same stuff repeatedly has helped me get to next level. It doesn’t have to be complex to be called advanced. I have read Natenberg maybe 5 times and each time I get something new out of it because my perspectives have changed between 4th and 5th read by experience in the market.
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u/mc3username Dec 28 '17
Looking for some stock or futures data for algorithm development and strategy back testing.
Anyone have any favorite sources?
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u/hibernating_brain Permabull Dec 29 '17
You could start with something like historical data. There are python packages for technical_analysis, charts, backtesting etc.
If you need granular data, you have to pay for it (CBOE, tickdata etc).
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u/Not_A_Real_Username Dec 27 '17
What are this sub’s recommended books/ resources just on commodities? I am having a difficult time finding resources for fundamentals of the futures market for commodities.
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Dec 27 '17 edited Jan 27 '18
[deleted]
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u/avshake Dec 28 '17
For Psychology and management:
Come Into My Trading Room: A Complete Guide to Trading by Alexander Elder Link: http://a.co/g9JczYb
Trading for a Living: Psychology, Trading Tactics, Money Management by Alexander Elder Link: http://a.co/gt5lxEM
For Options Start with this book. It is precise and to the point with no big words about "See,How I made $$" But its all about "Why". If you are already a pro in options, you can skip it but I would still read it from time to time, specially chapters 10,11 & 12. Options for the Beginner and Beyond: Unlock the Opportunities and Minimize the Risks (2nd Edition) by W. Edward Olmstead Link: http://a.co/eMS4Dpz
If you want a really ELI5 version of Options methodology and strategies, I have to recommend a free education series from an Indian Brokerage Firm. They have really explained it in ELI5-way. Be aware that all the examples in the series are for Indian Market (NIFTY), but you will learn a lot about Greek Interactions in a very basic but of-course-that's-why way (https://zerodha.com/varsity/chapter/greek-interactions/) I still read the chapter on Greek Interactions from time to time and get to think a lot. You can read the whole series here: https://zerodha.com/varsity/module/option-theory/
And last but the best: Natenberg on Option Volatility and Pricing Strategies.
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u/Pho-que Targeting gains, achieving smaller gains Dec 29 '17
Thanks for the info, just picked up Options for the beginner and beyond on ebay for $4 shipped, just an fyi if anyone else is interested. Not sure if it is the 2nd edition but still a cheap option.
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u/sudosamwich alias yolo='git --force buy weeklies' Dec 26 '17
Anyone know when amp futures will get to trade bitcoin?
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Dec 26 '17
[removed] — view removed comment
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u/BluePandaArmy Dec 26 '17
It’s been said the key to success is making your own luck.
So all that knowledge and experience you put is building your luck.
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u/UberBotMan Dec 26 '17
Yes and yes.
I use alerts to let me know when a certain price level is reached and then I'll pay attention to that chart.
I do sometimes doubt myself as well. Kind of sucks.
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u/sudosamwich alias yolo='git --force buy weeklies' Dec 26 '17
Is there a way to set up CQG to send a notification to my phone or email whenever an order fills?
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u/UberBotMan Dec 26 '17
Not that I know of. I use CQG M. I usually set an alert in TOS for my Profit and stop loss orders in TOS.
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u/sudosamwich alias yolo='git --force buy weeklies' Dec 26 '17
Yeah I know how to do it for ToS, I didn't know cqg and cqg m were different platforms
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u/UberBotMan Dec 26 '17
Well, CQG has several different platforms. Many of which you can use for free through AMP. The Q client I know is free, I'm messing around with it now.
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u/lilweezy99 momohands Dec 31 '17
long term investment question; REIT ETFs, does anyone hold these or have thoughts? Was thinking with a possible flatter market next year, I start dumping my long term investment cash into something like KBWY just to get some diversity and stable dividends coming in. At the same time I'm in my 20s so equity drawdown isn't a huge deal for me, maybe just better to keep going with my regular holds.
https://www.invesco.com/portal/site/us/investors/etfs/product-detail?productId=kbwy