Option Premium - Ichimoku Cloud For ThinkOrSwim

[Predemption239]

Been trading options for years, have had great success with SPX 0DTE with this setup, and sometimes weeklies depending on the VIX.

1st, here's the Chart Setup, strictly the Ichimoku Cloud on an Option Premium Chart.

As Price gets below the cloud, chops and gets very-thin-in-price-action, that's where I sometimes load in. Other times I want an EMA or an EMA Ribbon to cross over, but sometimes you've already missed the 100% spike, but can still ride another 100% to 500% which is still great.

I've messed with thousands of other indicators on this pattern. And I can't seem to find anything that gives me extra confidence that price as been pretty flat and there's a high potential of the curl going into a Very Thick SPAN Cloud.

If anyone has thoughts, I'm all ears.

Here's the setup twice in two weeks on PLTR lately. NOTE works best on 5Min, 10Min and 15Min MAX
shared chart link: https://tos.mx/!V9FKoErn

 

[Kitchasap]

Been trading options for years, have had great success with SPX 0DTE with this setup, and sometimes weeklies depending on the VIX.

1st, here's the Chart Setup, strictly the Ichimoku Cloud on an Option Premium Chart.

As Price gets below the cloud, chops and gets very-thin-in-price-action, that's where I sometimes load in. Other times I want an EMA or an EMA Ribbon to cross over, but sometimes you've already missed the 100% spike, but can still ride another 100% to 500% which is still great.

I've messed with thousands of other indicators on this pattern. And I can't seem to find anything that gives me extra confidence that price as been pretty flat and there's a high potential of the curl going into a Very Thick SPAN Cloud.

If anyone has thoughts, I'm all ears.

Here's the setup twice in two weeks on PLTR lately. NOTE works best on 5Min, 10Min and 15Min MAX

Been trading options for years, have had great success with SPX 0DTE with this setup, and sometimes weeklies depending on the VIX.

1st, here's the Chart Setup, strictly the Ichimoku Cloud on an Option Premium Chart.

As Price gets below the cloud, chops and gets very-thin-in-price-action, that's where I sometimes load in. Other times I want an EMA or an EMA Ribbon to cross over, but sometimes you've already missed the 100% spike, but can still ride another 100% to 500% which is still great.

I've messed with thousands of other indicators on this pattern. And I can't seem to find anything that gives me extra confidence that price as been pretty flat and there's a high potential of the curl going into a Very Thick SPAN Cloud.

If anyone has thoughts, I'm all ears.

Here's the setup twice in two weeks on PLTR lately. NOTE works best on 5Min, 10Min and 15Min MAXView attachment 25941

Thanks for your inputs. Can you please share tos link for above set up. What do you mean when premium gets thin in price action. You mean when it gets stable?.

 

[Predemption239]

Thanks for your inputs. Can you please share tos link for above set up. What do you mean when premium gets thin in price action. You mean when it gets stable?.

https://tos.mx/!V9FKoErn

Try this for the entire setup. I also trade the clouds on option premium with the 50t Tick timeframe for quick scalpes

 

[Kitchasap]

https://tos.mx/!V9FKoErn

Try this for the entire setup. I also trade the clouds on option premium with the 50t Tick timeframe for quick scalpes

Thank you!

 

[strader]

Can you provide few examples? Do you sell puts if the upper cloud is thick?

 

[BrianH]

Thank you for this post. Im going to install this tomorrow. I have a little experience trading options (not much). I'm trying to become profitable.

 

[rip78]

I especially like it on the SPY 0DTE 5 min options chart. Thank you Predemption 239 for sharing this sweet set-up.

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[picasso11205]

I especially like it on the SPY 0DTE 5 min options chart. Thank you Predemption 239 for sharing this sweet set-up.

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I really like this setup as well. I also trade SPY ODTE. Are you able to give some guidance as to how you load the particular options contract onto the chart? Do you have a grid with pre-set contracts or are you loading them manually from the option chain (one at a time) onto the chart and then waiting to see if they pass above/below the cloud? This has been one of the frustrating things for me as a relative beginner with TOS--with Webull you click the contract right from the options chain, it appears in the "buy" box and then you hit "buy" and you are in the trade very quickly. I'm trying to figure out the fastest way to replicate that using the Ichimoku chart in this thread. Thanks in advance for any help you are able to provide.

 

[Winchoice20]

I thing, you can go to any option chain right click, copy and add into the page[may be i am wrong], I see, some good value looking the screenshare, but unless knowing which Strike price, etc & the trade setup from expert, will not be that easy. I think Predemption239, can able to explain better way. Thanks @Predemption239

 

[rad14733]

I thing, you can go to any option chain right click, copy and add into the page[may be i am wrong], I see, some good value looking the screenshare, but unless knowing which Strike price, etc & the trade setup from expert, will not be that easy. I think Predemption239, can able to explain better way. Thanks @Predemption239

What you have described is one method... Personally, I have both a Call and Put Chart and/or Active Trade, ladder depending on the Chart pre-populated, each set with a Number/Color code link... From the Option Chain, or in my case a filtered Watchlist, I Right-Click and use the Send <Strike Code> To option to populate either my Call or Put Chart/Active Trader ladder... This method is a one-and-done rather than requiring a Copy and a Paste and is faster for keeping Active Trader ready to take scalping trades... The active Trader ladders are preset with initial Limit and Stoploss levels... For longer term Option trades some traders might use alternate entry methods, such as selecting preset Conditional Orders or manually creating entries and exits and submitting...

Selling Option Spreads would work similarly to merely trading single contracts... TOS offers many different ways to enter trades from different areas of the platform...

 

[wfig]

I like your Awesome Oscillator do you mind sharing the link for that please

 

[rad14733]

I like your Awesome Oscillator do you mind sharing the link for that please

Here you go...

AwesomeOscillator_Editable_rad14733: http://tos.mx/!aIEPkRKZ

 

[wfig]

thank you

 

[rip78]

I really like this setup as well. I also trade SPY ODTE. Are you able to give some guidance as to how you load the particular options contract onto the chart? Do you have a grid with pre-set contracts or are you loading them manually from the option chain (one at a time) onto the chart and then waiting to see if they pass above/below the cloud? This has been one of the frustrating things for me as a relative beginner with TOS--with Webull you click the contract right from the options chain, it appears in the "buy" box and then you hit "buy" and you are in the trade very quickly. I'm trying to figure out the fastest way to replicate that using the Ichimoku chart in this thread. Thanks in advance for any help you are able to provide.

Picasso11205, I used to load the SPY contracts manually from the option chain. Then I found a way to do a scan for the SPY ODTE contracts. Then link the scan results into a watchlist. I will provide you with links for my two watchlists (SPY and SPY OPTIONS). Then with a link for the SPY OPTIONS scan. And finally, a link for a two chart grid for an options contract of your choice. All you have to do is click on any contract in the OPTIONS_SPY watchlist. Doing this will load that contract onto the chart grid.

http://tos.mx/!FiBgjb8u ( my SPY watchlist )

http://tos.mx/!yPDrG1WI ( my OPTIONS_SPY watchlist. Click on the symbol link icon at the top left corner of the watchlist. Scroll down to 9 Lilac, and click on that )

http://tos.mx/!6MzmG7No ( my SPY Options scan )

http://tos.mx/!wWNscRZI ( my options two chart grid )

Hope this helps you.

 

[rad14733]

@rip78 I use a SPY OptionHacker scan to populate a Watchlist Column on my left panel that fits my Price and Delta parameters to select 0DTE and 1DTE contracts... Been trading like this for years...