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So if we don’t gap under 290 or above 304 then what? I find these both unlikely.. just my $.02
TA from the gut says... 297 Monday followed turn around Tuesday.
I expect another choppy week folks. Stay nimble !
Bingo! Will they suck in some more bears tomorrow before squeezing them into capitulation?
Great trade amigo... just making sure my eyes aren’t failing me!
I think you must mean 6/26 307c as the 6/29 307c haven’t traded anywhere near 0.87. Daily low today is 1.57
Premium burn... 24th expiry may be less fun to play today
Added 320c for 6/30 at 1.50
Bought 307p at .40 and 310p at 1.17 for today.
- filled STC on the 310p 1.77 from 1.17
Done for the day unless things get nutty... will close the 307p at the close
And I assume you mean 320, not 220.
Settle down amigo... you’re getting a little toooo excited!
Calls or Puts? I’m assuming calls at that price
Watching the board piling on and saying his estimations are “rubbish” is interesting considering he’s been more right than ANYONE on this board. Weird
Thank you amigo!
Happy trades !
Added to my 6/15 310c @ 2.65. Avg is now 323.50
No short / hedge positions currently. - and that is not advice
STC 6/12 301p @ 3.15 from 1.85
Will wait to close to take more action
Bought some 6/12 301p @ 1.85 against my 6/20 calls. (6/15 was a typo).
You’ll look like a genius and a fool 3-4x before expiation! Lol. Volatile times!
Tempted to step back in.. maybe just a 1/3 position.
BTO 6/15 310c @ 3.82
The cult nature of this on both sides is nuts.
Yep- I know how this works.. but thanks for the insight
It’s a sentiment indicator however
Playing out so far. 3200 followed by 3000 being defended. Next up; 3300
Call buyers aren’t buying anything ... yet.
Actually- look at the bullish inflows to TSLA. Call Sweep after call sweep. - obviously this is just one name, I just thought the action was interesting.
That’s a tasty strike if you’ve got the patience.
Bingo - these are some of my favorite days. Bears buying puts at the bottom of the range while I’m just waiting for the next near term bottom of the dip to buy.
3000 will be defended and then another move to 3300 area. Great trading enviro
And the economy and the markets can remain disjointed for some time
Okay folks- don’t over think this. Powell pretty much told us that the markets won’t go down.
I get what you’re saying.. but this is just going to confuse people. Prepare for a cluster of questions amigo
I don’t think it sounds ridiculous. My comments, while economic in nature, were more about near term price action (next 6 months) for SPX. I agree with much of what you wrote, it’s just hard to time when that comes home to roost.. so to speak.
I too think a broad range is likely in the cards. Fed, infrastructure and (excess) stimulus can all buy time and that will determines how much of the over bought gets burned off vs the reality of the day showing up in market prices.
That said, I try and not look too far ahead or let the noise of the day rule my thinking. I’ve shortened my timeframes for trades and have trimmed about half my long term holdings which I’ll start to DCA back in. I did the same just after New Year’s (I was early) but it gives me peace of mind to take profits and slow roll back in. (These are retirement accounts I can’t touch for 30 years)
I enjoy the dialogue. Happy trades
Thanks...that said feels a little tricky here near term imo.
Price could burn off or retrace a bit, but I think we head higher into year end. A few fundamental reasons I have for this are as follows:
- the added stimulus we’ve seen is real and jobs look to be rebounding better than expected. I don’t see them all back of course, but I wouldn’t count out a huge rebound.
-This brings me to my second reason: an infrastructure bill. I don’t see how we’ve needed one for years, we have seen cities destroyed and millions of jobs lost from C19 and politicians sit in their hands when a bill could fix much of this.
- Lastly, the COVID virus appears to be behind us and possibly overblown. Due to protests we’ve seen 10,000 super spreader events in 350 cities. If we don’t see a spike in the next 2-3 weeks I’m not sure how we ever could.
All these have me bullish... just my $.02
This board loves to front run a trend change... seems like a fast way to lose money. Maybe its just me who is terrible at it!
Lol... I love this post
Just one comment-
Do NOT short this market. Maybe puts at the close, but this squeeze isn’t done yet.
I posted here back on early April that 3500 was more likely than 2000. Plenty of nay sayers at that time. Obviously I’m standing behind that thesis. The markets aren’t wrong folks... cable news on the other hand often is
Agree
It’s a free country , so I will.
You know that you can just block people from seeing their content right? Like you could just block me and NN and you’ll never see anything we post again.
I’m heavier on the long side, but I’d really like to cash those puts today!
Keep doing your thing... this board appreciates you even if their are some noisy jealous fools
That’s why you roll to Monday call on a Thursday
You’ll be fine.
I picked up 5/29 302p @ 1.20
Asleep 6/1 305c at 2.00
Happy trades amigo !
that’s the trend.. for now.
Yet how has price been correlated lately to such news / data? Positively or inversely?
I hear ya fitz- it takes constant reminders for me not to get ahead of myself and start trading bearish fundies. I’m just chopping some wood day by day. More day trading and less swing trading as I trust this market less and less and feel premium burn for options longer than a week or two out could be a real factor.
Good luck amigo - happy trades
This is that bear talk that fundamentally makes sense, but this is a rigged game my friend. Has been and will continue to be.
As they say; trade what the market gives, not what it should give.