SPY
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I have had my sell order ready at .0001 for like 3 months, can't wait to get out
TVIX doesn't have options, only UVXY if you're looking at 2x-3x etfs
SPY has been so hard to gauge and predict steadily. I have been getting monthly UVXY puts. I have been picking a strike price like $1 lower than what it was, but UVXY needs to go quite a bit lower for me to start making profit. When UVXY was at $22 last Friday I got $21 strike puts for Aug 26.
Do you think it would be more beneficial to go a little lower with the strike price or will it not matter much with UVXY's greeks? As in should I have gotten 20 or 19 strike puts instead? I never hold these for more than a week anyway, and gauge it by whether I think there's going to be a dip in SPY or a general downtrend and try to get out.
Yea I'll play it by ear, was just stating a general time
I agree, EOD rally happens like every day, no reason why they wouldn't today. They just gobble up the dip.
I'm gonna wait until 3 and buy some puts
Spy has been pretty stagnant and flat for a while now, has it met its ATH resistance for real now? Is it going to stay flat for a while, or is this the beginning of a big boy downtrend?
I put in a bid some .0001s, if i can get some in the next month I'll be happy, but too risky for anything else right now imo
I'm gonna be looking for Spy 212 and then I will most likely heavily average down my 7/22 and 7/29 puts. I learned my lesson, don't count on Spy being down too long, she's a fierce one she is
Sorry for the late response, had to respond to a car accident on the highway.
SPY Jul 22 '16 $195 Puts @ 2.65, 6 contracts, down 86.5%
SPY Jul 29 '16 $190 Puts @ 1.80, 5 contracts, down 81.5%
If "spy hits 212" that is, not spot hours, auto correct
Hope you're right. Pondering if spot hours 212 to average down and see how that goes. The July 22 puts are 195 and the July 29 puts are 190. Thinking the 190s may be too far out to save though, 195s have a chance. Ughh
Lucky, i basically need another Brexit to be back in the green. This insane week long rally destroyed me. At first i was going to get out of my puts on Monday, pressed my luck and said Tuesday for sure. Then super spy rally happened, thought we'd have another red day Wednesday at least, then wasn't able to do any trading Thursday, and now i feel like i just threw my money into the garbage disposal. They are july 22 and July 29 puts so i feel like at this point i should wait and maybe i can salvage some of this train wreck
I think so too, got some Aug 19 '16 $55 Puts, already up around 15%
was on the SPX my bad, it's bot time though so we'll see
Just hit 207 though
you're telling me, I bought some more puts friday after making a very nice profit off brexit. I had about 40% gains on monday but i held into tuesday thinking i would get a little more and BAM now I'm down like $500 more than I even made off of brexit on 7/22 puts and 7/29 puts. Holding out on hope alone since the market just keeps wanting to go up no matter what
wow great gains
I'm curious to know, tell us oh wise risk
I bought some SPY Jul 29 '16 $208 Puts, hopefully in case britain stays this still gives me some time to maybe get a profit, or break even. When in doubt date it out, thx risk
anyone able to sell?
We thinking we gonna continue to drop tomorrow?? Or are we going to get a Pre-brexit/yellen rise tomorrow and then all sorts of unpredictable mayhem Wednesday?
because it was at .00001 yesterday
is this the HoD and a bull trap? I feel like were going way down later today and most likely tomorrow, what about you guys? Past like 3 weeks there's like a slow start monday, then up one day, down the next, and so forth. Is this the algo pattern?
Is anyone feeling that today is just a bull trap for the rest of the week?
And Spy has officially gone red
Wishing I didn't buy in at $6.5 right now, it'll be back up eventually, ughh, maybe I'll just average down at this rate
Hmm should I get some May 180 puts or 190 puts, cant decide how risky and frisky i wanna be
What entry and exit points do you guys usually set for yourself? Do you guy usually look for particular resistance points in SPY before going in? Or do you guys base it more on where VIX is?
Thanks for the quick response, yourself and EarlyTruck set me straight, gonna need to do way more research and do much safer plays in the mean time.
Wow, insane depth there man. Hmm, I will have to read this like 3 more times at least to get it all haha. Really appreciate it, probably saved me a bunch of money. If VIX get's really low, maybe I'll just get some TVIX shares, this is probably a much safer play for my level, and then if VIX get's really high up there I'll do that UVXY Puts long term play you mentioned. Thanks again
I have a question for you guys.
If you see a bottom that you like in vxx or uvxy and you get a bunch of calls a few months out, or respectively you think they have hit their peak and you get puts, are their other hidden factors that you have to watch out for?
TLDR: Are there things like decay or greek letters that don't function the same as with regular stocks? Or is holding options on these for a few months out a relatively safe play?
Example: Let's say next week UVXY hits like 29, I'd want to get like 31 strike May or June calls or something like that. Would I end up getting fucked by that? Or is that a good safe play so that I can yolo with my other moneys and profits from this?
I have a question for you guys. So where holding TVIX exposes you to decay, if you see a bottom that you like in vxx or uvxy and you get a bunch of calls a few months out, or respectively you think they have hit their peak and you get puts, are their other hidden factors that you have to watch out for? Are there things like decay or greek letters that don't function the same as with regular stocks? Or is this a relatively safe play?
How many ups and downs gonna happen today? Back down to 195 lol. Think we gonna see 196+ again?
Spy going positive today? or only temporary and will drop way back down as day goes on?
Thanks for the input, i just hate selling or buying on emotion so wanted another point of view just in case. I'll hold for a couple weeks or more depending on the state of things, maybe buy some puts too if we're gonna have this drop everyone is talking about
I have a few April 15 204 calls, think it's worth holding on to these for a while? They just went red on me, not by much, but thinking I have a lot of time until April and these may get me good profit in time. What's your guys opinion? I don't need the cash urgently and don't mind holding long if it gets me money, but not sure if there's anything I'm missing.
Glad I only put in $100 at .0001, it's valued at like $17 now, might just stay in and see if anything happens in like 40 years haha
i bought 40 million 1s at like 9:45
lol jeez, so much volume already, load up the 1s i suppose
So... .00001 what's happening here? Didn't know it could even get that extra digit 0