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SPX headed back to the 20th century.
the volume on today expiry options is super high.
Why are daily candlestick charts showing a HOD of 209.82 when spy never touched that?
put $500 of todays 3K gain into 5 cons June 30th 206P @ $1.02
spy dangerous on both sides here good or bad news could gap this in either direction.
Sold second half of my put position here. Getting the feeling we bounce from here but not going to enter any calls either. Will watch and wait to see what unfolds.
150ema breach and sell signal on the slow stoch. very bearish indications short term. I just sold 1/2 a position of puts bought at todays open and I'm going to hold the rest into tomorrow.
Tomorrow should be fun. Setting my alarm clock right now.
Dang this bounce caught me off guard. I'm out of all puts I bought on monday here.
206's next week.
Chart tells me that a bigger move to the downside coming in the next 2 weeks.
If we gap up I'm thinking puts will be the play.
ouch, out of my puts, I thought it might fail at that 212 resistance.
I'm in puts here at $211.90
I thought you didn't like options? what changed your mind?
SPY is now settling into an easy to follow trading pattern, bouncing between support and resistance levels.
Your recent posts to this board include:
"Blast offffffffff :)"
"Chuga chuga choooooo chooooo"
Very helpful technical analysis.
Are you attempting to insult me? I actually saw this coming I posted a chart a week ago that forecast this exact move which you can see in this post.
My chart
So don't act so smug and pretentious I might be a better trader than you are.
That was a very very fast recovery from that early week dip. Wow.
I took some puts overnight. If we gap up and rally tomorrow then I'm gonna just take 2 weeks off and head to the beach.
Fed beige book is tomorrow. Will there be a significant reaction to it or is it considered to be a non event?
This is absurd. Getting tired of spy games.
Could it be that china stock investors are taking their gains and using them to pump the US markets?
Are you still gonna average down on puts?
yeah, some wild intraday action. This increased volatility must signal something.
Just gambled on weekly 211.00 puts at $1.42
Collapse next week IMO.
GLD calls?
It's a trap.
Be very cautious here, I've seen spy do this exact same thing before, big drop, rebound followed up by more dropping. We may have another up day tomorrow but if so it will be a good spot to load a large position of long term expiration puts. I'm eyeing a 60K position of September 210 puts. Waiting patiently for all the right signs to pull the trigger.
Covered at $210.65.
some unexpected euphoria, wasn't expecting much of a reaction to these FOMC minutes.
That's my only position right now and although I usually only use 60K for trades I feel like it's so easy to just short a large amount here and make like 5-10K instead of risking a much bigger loss by buying puts and losing due to theta decay. And I know alot of people with trading accounts in the millions so saying it's alot of money is all relative.
Ok thanks for the tip.
Why the question marks?
I don't want to buy any puts right now because I'm unsure of how many more days this will hover around here but I am confident that it will come down in the next few weeks so I did something I rarely do and shorted 1.5K shares at $213.50. Should be a safe and easy trade. It's more dangerous to be long here.
Anyone here write options against SPY shares instead of trading them? I'm considering switching to the write side. Seems like that's the place to be right now, if you have enough capital.