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I did TNA 100/120 Jan 22, 2022 Spread for 1.30. Risky but could be rewarding Jan is month when IWM is usually bought. I may be early but took a chance, Work project 94 area in 14 days, Let's see.
Previous was small load of 110/120 same month this is 10X load. I was happy with market reaction for today, encouraging.
Low price option trades are Lotto with risk higher than average options.
Although on buy now but it could test buy point again which is 393 area.
In my experience for trading 4 hour chart is a trend setter closing below is negative up is positive . More value able for swing trading and directional assessment.
That is the way to play.
It is a lotto with reasonable chance, if charts stay above 22 EMA on 4 hour chart. Problem with TNA options are they are not very liquidated.
Bull call spread TNA 110 Jan 22,2022 and short 120 Jan22,2022 for 84 Cents.
Sharing what I posted on another board,
"Since buy signal is valid for TNA I found one play which could be beneficial Jan 22,2022 110 Long and 120 short for about 75 to 80 Cents. I may not wait for full value will be willing to sell @3 to 4 dollars. It could loose if trend changed, all options plays are risky do your own D/D."
Since buy signal is valid for TNA I found one play which could be beneficial Jan 22,2022 110 Long and 120 short for about 75 to 80 Cents. I may not wait for full value will be willing to sell @3 to 4 dollars. It could loose if trend changed, all options plays are risky do your own D/D.
Yesterday buy is confirmed by testing buy point again today. Signal is long now.
Thanks for sharing your work and trades.
SPY need to close above 461.62 tomorrow to generate buy signal.
Although it recovered a lot but buy signal no where.
Closing on Sell signal let's see what next 2 days will bring.
Closing above 81 It will initiate a buy 47%. I think by Wednesday it will confirm the buy or break down, please do your own D/D.
Closed on buy signal may test Friday closing but it is heading probably higher. Do your own D/D.
Any one have idea why there option Trader hanging up and freezing all program of TWS?
Closing above 81 It will initiate a buy.
You are welcome. I think someone bought 20.
Jan 2023 80/110 spread should be about 10$ you could buy it and If TNA drops to 70 or 60 You have covered you loss to buy common.If exercise it would be 200% return.
May be long term Spread are better for 3X from R/R factor. Market has not bottomed yet. IWM is in bear territory.
In fear market will not stay at algo limit it keeps penetrating. There is a time to trade and there is time to be on side line. Kamikaze players usually stung badly, I have personal experience. They want to test yesterday low, that is a huge range. This is happening continuously since last week. Be careful my friends.
Long signal was good for 90 minutes, than they decimated it.
I could lose some money on this expiration. Wrote 88 Puts against 95 Puts. You winsome you lose some. Max loss would be $3.
I think they try to drop to a level where T/A gives sell than pull it back above that level.
They need two things 1 too many shorts or 2- strong demand in weak market second is difficult, shorts are not stepping up. so it is stuck. I did 20/30 spread for Jan 2023 few days ago.
Closing above 88.75 will confirm buy signal.
I would agree with you totally but lately some just keep posting and think they are always right. If anyone has that confidence he should manage big money and rarely will come here. I visit the board because there are good people here and there views gave new dimensions to think about. Also they shared there trading ideas and trades generously. At the same time many posted here some trades which never happened. So there are different kind of people I agree.
Shad Raheen Abad Raheen (Have a long happy life).
SPY closed on sell signal but after hour trying to change it. Close above 459 would be 57 % buy signal which it is printing as of this writing.
It is clean wash today but it came back better than SPY so I feel tomorrow it will give buy signal. Closing above 83.59 was 57% buy signal which it achieved in after hours. Let's see how European do to night session. Stay tuned.
F closed on sell but my thinking is if it did not tag 19.75 in next two days than it is confirm sell.
True what you wrote. My point is doing your own thinking makes you a better trader, take all inputs or data points you could but be happy with your decision. Today it could mean a break down or change in trend to upward. Stay happy Live long.
They all are traders if they would have that kind of insight they would be managing big money not dependent on TV job. every coin toss has 50% chance of winning. Grues come and go market keep propelling there is a continuous stream of money in stocks through 401, 403, and pension plans with limited amount of stocks so bias is mostly up. Where they could invest with 1.5 % for 10 year bond? Inflation will eat them alive. Housing and real estate have seen first ever such kind of crisis that renters not paying, office buildings are empties. Yes correction or rotation will keep happening it is part of the game, always keep some powder dry, invest or trade wisely do not take margin in uncertain markets so you could hold position in draw down, it will come back it always had.One more thing keep your trading simple.
I do miss NetNe, I hope and pray he is well.
Good luck and happy trading.
Farooq
Shoulder would be at 403 404 area, it need to drop after tagging it. My system is detailed in intro. Hope it help. Help someone when you learn it. Good luck and happy trading.
I think serious traders have already left the board because of waste of time for trash post. This happen to all boards where admin is not ready to play his role. I could be wrong and may be people are enjoying holidays.
I also do not come here often because I saw I am not contributing any serious discussion neither I am gaining any skills. There are and were amazing traders here, it was fun to watch them trade.
Postman usually ring twice with pause.
We remain on sell but it will go up before going down gain.
We tested it on Friday so again on buy area at this writing.
Signal will be remain on Sell till we cross 95 today and close above it, this is primary signal.
Secondary signal will give buy signal if we close above 89. My gut feeling is we came too far from 114 so we could easily retrace up to 98$ and if we wanted to go down that would be the point.
Disclaimer, I am forced long here because of assignment of Puts so I will be selling some calls against them.
There is issue in charting it has phantom prices on candles and it is every day and on most charts if it is gap opening. Look at TNA, F, SPY those prices never touched but candles shows it and in next candle also. My Data vendor is TD. It affect all technical aspects. Could you please look in it.
Any news you have seen?
Russell 2000 is way more down % wise.
Well as of this writing things are upside down. Turkey is roasted.
I have same number of 90 Puts but still it is going to hurts. I was able to unload RTY contract @2345 so I am lucky on that front. I will definitely will buy some puts for Month ending if condition persist in the morning. It is break down of the cup and handle of eight months chart if 92.50 is taken out which seems the case as of this writing.