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Well said USD
Very possible. The calls were more a hedge of sorts... been scalping calls the past week so I just rolled profits into my current positions. Have to think we take a turn to visit lower levels soon.
That said- this market has been fickle.. an irrational run to spx 3000+ for no reason at all wouldn’t surprise me.
Happy trades
God willing!
Stay neutral amigo
Exactly... I don’t have a crystal ball, but we should continue to see some good opportunities to for profits.
Happy trades Doc
Dipping my toes back in here.
BTO 5/22 297c @ 2.20 against 6/15 280p @ 4.40
10 contracts of each
#technifacts
I’ll be cashing my puts this morning and taking a wait and see approach. Still holding 5/15 292c, but won’t add immediately.
I agree with your previous comment.. it’s hard for me to get short and stay short unless we see a lower close. I like your 287.50 level as that reference point.
Happy trades amigo
I’m largely a DCA investor myself. I just trade options when the market provides the opportunity like it is lately.
I’ve got many stories like your AAPL story.. too many.
Good points, but you absolutely can lose money being early. I’m not talking institutional money, I’m talking the traders I’ve watched on this board for a decade. Most front run a change of trend instead of waiting for confirmation that the trend has changed. Most are playing options... I’ll let you figure out how it ends.
Exactly. People saying “this makes no sense to go higher” are looking at the wrong indicators for near term price action
Could the Fed having a 10 trillion dollar balance sheet come home to roost and crash the markets? Probably. Is that happening any time in the next few years? Not a chance, yet people love to place bets on what they think the macro environment is telling them.
The market doesn’t care about unemployment numbers. It actually liked bad news like this in the current environment. We don’t make the rules and we certainly can’t change them. I’ve been long and strong since March save a few hedges at inflection points.
You get zero points for being early on a call.. actually, you get negative points.
I’m not a genius, but I’ve been saying on this board since SPX 2400 that bears better be careful playing for a retest of the lows. Since that time people here and elsewhere have kept trying to time the top of this move before it has exhausted. That’s how you go broke.
For perspective - the fed bought $625b over the course of a single week. That’s the equivalent they spent on their entire second leg of QE that spanned 8 months in 2010-11. They’ve also said they’ll purchase indefinitely. What more of a fed floor could one look for?
If you didn’t learn to not fight the Fed after 2008 you should consider not trading
Bingo. The VIX is telling the story for all to see. If you’re shifting in this market you’re asking for pain. I’ve been saying this for about a month. Nothing has changed.
I’m in GLD 165c for January along with SLV 16c for Jan. Bought those I while back.. I’ll trade in and out of them.
I’m scalping SPY calls this along with PTON , SPCE and SNAP. Had some 5/6 290p that I rolled to 5/15
I am happy to wait for a trend change before pressing puts..
Timing tops is dangerous business !
That’s a strategy.. I’m just not very good at front running trades like that. I end up losing , so I take a slower approach with more confirmation - especially at tops and bottoms. Just my $.02
Agree it’s a bit of no mans land.. I’m riding a few free ITM freebies, but I think there’s better risk : reward to come.
I wouldn’t be short if from here.. the open above 2865 today keeps me long.
I’ll revisit tomorrow unless we see some crazy action today.
Just my $.02
Happy trades.
Same. Lol
How’s that bear position going? I’m busy over here “losing my ass” with my long position.
And please.. don’t give me the “one day this will all come crashing down”. I’m a trader... I’m here to make money this week
Watch that bear mood heading into tomorrow..,
Sold these 5/1 282c @ 1.40 from .85
Feels like it. I bought some 5/1 282c lottos @ 85
Lol... ??
I could see something similar, but don’t think we get quite that far down. Anything is possible once 250 breaks
100% agree. There’s a Fed floor in the 2450-2550 area. I would be shocked to see a close below those levels in the next 12 months.
SPY catching a small bid at you 55d SMA.
Short term bounce? 2800 SPX look like it’s heading our way though
Nice work!
I’m looking at the 200d as the next logical target
2930 target reached on SPX
STC the other half o 5/1 290c @ 5.00 from 2.00.
Feel like no many’s lands. I’ve had a very profitable week.. still holding 5/6 290p but they owe me nothing.
Happy trades.. I’m a voyeur from here
2930 just for ticks away...
STC half of these 5/1 290c @ 4.10 from 2.00.
Bought these back for another run..
BTO 5/1 290c @ 2.00
STC my 5/1 290c @ 3.32 from 2.23 +1.09
Still holding 5/6 290p... the losses to date on these are now covered via call scalps
Waiting for now.. but expect some good DT opportunities today.
Happy trades -
There’s the gap up as expected.. Dow’s is grind to 2930?
My Gut says gap and grind higher again tomorrow. I’m looking at 2930 SPX this week.
I’m feeling June sometime.
Good luck!
BTO 5/1 290c @ 2.23 against my 5/6 puts.
I have a feeling the boyz juice this into the close
Very possible. I just cut my calls loose.
Bought at 4.98 and sold at 7.81.
Back to the grind!
Closed my calls - sold at 7.81 from from 4.98 average. 2.83 gain.
Still holding 5/6 290p..
Take cover bears... this is why you hedge your bets!