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nah, sold them earlier for a loss $1.08 to 0.90.
Bought calls here for a swing trade, 2/3/17 $226C for $1.80.
Ouch, that hurt my account. Sold calls for a loss.
QQQ breaking out now, SPY should start to bounce.
Lets stay on topic guys. We're not congress, lets focus on trading SPY and making some money. Democrats, Republicans and Trump are off topic. All posts discussing them will be deleted.
Dang, rejection of $227.
BTO 1/27 $227C for $1.08, daytrade.
Next friday, Wednesday options should be theoretically no more or less risky then Friday weeklies but people seem to see them as shady. I play wednesday sometimes, but friday more often.
If we break above $227 in the first half hour i'm buying next week $227C for a daytrade, that's my plan for today.
Wednesday expiration showing it's true purpose.
Ascending triangle now forming on the intraday 5 minute chart, expecting SPY to close above $227.
The option writers are the ones profiting today, those buying the calls and puts from them will lose money. They're drifting it sideways and collecting premium.
I don't think this current pattern will go below $225 again, seems as if they are trying to purposely hold SPY around this $227 level before we eventually break higher, I think its option related.
69K volume on 1/20 $230 Calls. Glad I held my calls through this mornings drop. Bullish bias headed into next week.
Nice bull trap yesterday, they got me.
I just sold puts and switched to calls. I think we going higher.
Think we head lower this week, heavy resistance at this level on the daily. In puts for now.
Premium burn today, ever since Wednesday options were added it hasn't been the same. Only Friday expirations were better.
Looking to play puts tomorrow, chart is looking toppy.
SPY short term options have too much premium that will evaporate after 2PM. Not even gonna touch weeklies. I think SPY will drop after FOMC, and placed a trade accordingly. Long 1k UVXY shares at $9.07. Target $10.00 today or tomorrow.
After reviewing the charts, I find it unlikely SPY can go higher short term without a pullback. Pullback to $224 monday-tuesday, followed by a move back to $226 ending the week around $225 is my projection.
Are you gonna PM me your email address or not?
The thing is, we don't know conclusively that the market would not have rallied to this level had trump not been elected. We broke above 2015 ATH's in July well before the election, which was preceded by a year and half of sideways leading to a W pattern breakout. It's possible this breakout was inevitable regardless of who got elected.
I wouldn't read too much into it. Just another day in the markets.
SPY will touch $250 next year.
BTO December 9th $224.00P @ $0.75. Limit Sell order placed for $0.88.
Exactly lol 2 full years to get from $208 to $223. 7% percent gain.
People are acting surprised about this. The indexes went sideways for a year and a half, these gains aren't mindblowing.
STC @ $0.60 from $0.50.
BTO December 9th $222.00C for $0.50. Daytrade.
I wasn't personally attacking you, I asked your feelings on it because out of all the traders posts I read on the internet, you stand out as someone who uses it the most.
As for the rumors of VXX delisting, the rumors are that an industry wide crackdown by regulators on all these 3x leveraged etfs/etns will be taking place. Which would include things like DUST, JNUG, SPXL, LABU etc. It's a crackdown on all these etfs and that would include VXX UVXY etc.
What will you do Risk if VXX gets delisted. Will you be upset?
Rumor is VXX products are going to be delisted next year as financial regulators crack down on Leveraged ETF's. UWTI and DWTI are getting delisted tomorrow. Wouldn't bother me.
Sold for breakeven. Support at $200.80.
Looks like a bear flag on the intraday chart. Buy to open December 9th $221.00P @ $0.82. Daytrade.
or not. Sold for a $200 dollar loss.
Resistance in this area looking for a move back to $221.
Buy to open December 2nd $221.50P @ $1.00, daytrade.
It's because of the contango, it's not a sign of where SPY is headed. VXX contango is 10% against VIX futures spot price. Rapid decay. It's misleading to people to say that VXX acting weak right now is any sign of what SPY will or won't do. That's not how it works. When will you learn Risk.
Watching the same thing. I went long UVXY and now it's fading with SPY at the same time. Frustrating.