Best Practices

Before The Open and The Close

| Jan 20, 2015
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    Best Practices

    Before The Open and The Close

    Jan 20, 2015

    Some of the busiest times of the day are right before the markets and right before the market closes. Whether we’re looking at scalping futures, defending earnings trades or placing new positions for upcoming earnings, this time can be very hectic.

    Today, Tom Sosnoff and Tony Battista discuss everything that they look for during the busy times before the market open and before the market close.

    First and foremost, the guys discuss what they look at before the market opens. They check how the futures have moved overnight and if there are any big moves to pay attention to. They will analyze open positions to see what may be profitable on the open and ready to close. They will watch for earnings announcements, particularly in stocks they have positions in. Additionally, they will often look at delta exposure, not only on individual positions but also on their portfolio as a whole. And lastly, they will look to see if they were assigned on any options, especially over a weekend.

    The guys do a quick recap of the major futures they will check pre-market. They look at all the major equity index futures, Interest rate futures, the volatility futures, currencies, and commodities.

    Tom and Tony address what to do with open positions and how we first analyze if positions need to be managed, adjusted or rolled. They also tie things back to the futures and underlying pre-market movement as indication of how the options will be affected. We may also enter complex orders away from the market that can be adjusted quickly.

    The segment also includes what to look for on the dough platform in regards to positions that need managing before expiration.

    Next is earnings, what do we do in regards to managing them after an announcement and where we find earnings announcements through dough.

    The final crucial element to observe before the market opens is whether we have been assigned on any options. If the new stock or short stock position maintains our directional opinion and we have the buying power, we may look to hold the new position.

    Finally, the boys review what to look for before the close which includes many of the same points we would look for on the open: managing winners, closing positions nearing expiration, checking for earnings plays etc. The final point is regarding futures, knowing when to roll them and how to find the days left on your platform.

    This video and its content are provided solely by tastylive, Inc. (“tastylive”) and are for informational and educational purposes only. tastylive was previously known as tastytrade, Inc. (“tastytrade”). This video and its content were created prior to the legal name change of tastylive. As a result, this video may reference tastytrade, its prior legal name.

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