Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Lol, no, my mistake..175 C's...watching too many things right now!
Nicely done, Cret...not worth the earnings risk if the decent profit is on the table already. You might want to add 11/2 170 QQQ C's...I just did at .98, only 20 contracts.
Just sold my AMZN calls for a very healthy profit, BOS, and will risk a smaller amount in QQQ's for AMZN and GOOGL earnings...
I have 9/9 1800 C's, BOS - yes, they're very expensive, only 1 contract. I might not hold through earnings and just take profit later today especially if it moves closer to 1800, or possibly breaks it...
Brilliantly done, NN - I wish I had just followed you on that trade!
Damn BOS, sorry for your loss! Semi's and chip stocks getting hammered the worst right now...Texas Instruments earnings call last night was the main reason for the tech sell-off today.
Luckily I didn't short TSLA as I was planning to since I had to use the money to average-down on my NFLX, AMZN and QQQ calls.
Lol, now look at the TECH stocks coming back a little after hours although so much TECHNICAL damage was done today, except AAPL...amazing how resilient it's been!
Technically speaking SPY should be a BIG SHORT here with the close under the weekly SMA50 which has been support since 2016, and under the annual pivot at 266.50.
Geez, was joking about 265, and looks like it's coming...
Yep it cannot rise, relentless selling...easy money on the short side because if the buying stalls for a moment, SPY drops $1 in a couple of minutes...
Not at all - it was my strategy not to do anything until 2:30pm...already regretting it.
I think they're pushing and prodding for a capitulation/fear type of sell-off here...
Looking like the rollover is about to happen, or is it...?!
Da Boys and their "paintings"...!
Lol, might be about now because I'm so tempted to add puts for a potential $5 drop and SPY rollover right here...
But going to sit on my hands!
So one would expect a ramp-up to 273 to burn the shorts?
or, are they making EVERYBODY think that to trap any and all bulls, and then DROP it to 265...?
Exactly, and with AMZN + GOOGL earnings tomorrow, they could easily reverse this drop and turn green by the EOD. Personally, I'm just "sitting on my hands" until 2:30pm...
Very true, it's basically a "sell the rally" market until the key MA's are breached with volume and strength...
True that, unfortunately I have a call bias and those were my protection puts, but couldn't resist the quick gain...will add more puts if I can get a decent entry.
Ughhh, sold my shorts way too soon...kicking myself since the weakness was very evident this morning around 10am...
Yep, me too, and I have some heavy AMZN calls. Per my technicals, that was still a bad close for the S&P despite the rally-back...therefore, SPY could see a lower low. However, per NN's pivot of 273.16 SPY closed above that which is a positive.
It's all up to AMZN now...
No, 11/02...
Tex, IMO if SPY closes above 2750 (weekly SMA50), and even better 2768 (daily SMA200), then the rally could gather significant momentum to 280 and probably not dip again for 2018.
However, if it closes below these MA's and AMZN does not impress, we could see 266 or lower by tomorrow.
Interesting battle here at 274-274.50 right now but it appears that the bears have started to gain the upper hand again...
Lol, you know me well, BOS - I just added some SPY 272 P's..."P" for protection. Although the negativity is far from over IMO, the rally from 268 is a VERY IMPRESSIVE recovery and will energize the bulls IMO, especially if AMZN blows away earnings again...
JMHO
I'm so pleased that I didn't get greedy and sold puts in the 270 area...we've seen this many times before and not impossible da Boys jam-it-up to 280 before Friday!
Sitting with some SPY 276 C's, AMZN, NFLX and CAT C's too...
Weeeee SPY...bring on 266-268!
Must admit, I will be buying CAT calls because those earnings were stellar...hope the sellers drop it to 110-115!!
So true - I have a short bias but straddle SPY daily for decent gains either side. If it wasn’t for NFLX, I would have had a hugely profitable week...why oh why, didn’t I just sell those 11/2 calls...got sucked in by earnings headlines and the expiration buffer! Easy money to just keep shorting NFLX now, basically anytime it rise 2-3 Dollars, take a put, wait 30 mins and voila, easy $500+. I will keep doing it until I hopefully recover the calls losses...
Other than that, SPY trading is fantastic right now, and the way to go given the volatility.
It was looking like a nice DEEP drop was going to happen and the PPT just kicked-in...fine by me, will just add more puts here and now!
Bulls looking tired, BOS - I added SPY 10/26 277P's heavily at 278.50+ and sold all call hedges. I am 100% P's now...no longer the "hedgehog"...lol!
Apple's huge upgrade today might be the only thing keeping the market positive today, but I don't expect that to last, however, if the SMA 200 is defended, the bulls could come out swinging next week.
Yeah, I probably changed their plans...lol! Now they'll spike it!
This feels like one of those days where they drop it from 274 to 270 in the last 30 minutes of trading...HOPE SO!
Lol - yes, I do have some hedge 10/26 280 C's but I'm FAR more heavily weighted on the put side, and then my crappy NFLX 11/2 350 C's that are dying rapidly...SMH!
If this turns positive today, da Boys would have "hoodwinked" everybody. First, the drive UP to 280 to lure in the bulls; then the steep DROP ($4 in less than one hour) to lure in bears; then another drive UP to SPY 281/282...I'd be shocked but da Boys would collect some substantial "coins" if they manufactured this...
Personally, I have 10/26 SPY 277 P's because I think we see a lower pullback low very soon to SPY 266-268, and then a vertical to 285 for AAPL and AMZn's earnings...
Ugh, and I still have half of my NFLX 11/2 350 C's, and am down on those "blockbuster" earnings and growth forecast. Was it just to fill the gap, and then RUN, who knows, but I'll just wait a week. Poor trading on my part!
I tend to agree with you, BOS, however, it's an interesting situation right now; basically history supports another deeper drop similar to what NN is stating to SPY 266-268 by next week, and then a STRONG rally to SPY 290 after the Midterm election where the Dems are most likely take control of the House. I was listening to a Blackrock vice-Chairman last night who basically stated the exact same thing.
Personally, I cannot see the market pulling back now since the Bulls have fought hard to re-capture SPX's SMA200 and the 2800 level.
JMHO
Yep, I wouldn't be a long-term investor at this stage (2-5 years) and at this P/E ratio...
I sold half at the open, BOS, since I didn't like the dropping pre-market action. I'll hold the other half for a couple of days to see what price action and premium does since I have until 11/02. I'm surprised at the selling this morning because that was a BIG quarter and the forecast for Q4 is even BIGGER!
We'll see!
Great to here, P! Did you sell any a/h’s with that spike to $400?
Anybody else have some NFLX calls?
I bought some 11/2 350 C's about two weeks ago and was down over 50% on them at one stage last week (only a couple of contracts)...I'm happy that I held but kicking myself for not averaging-down a little!
It's interesting how all the FANG's rallied hard afterhours following NFLX's announcement.
Great...da Boys swindled me! At least I had some calls to balance out the losing P's, but still a loss
SPY looking bad...S&P closed below SMA200. Sold 75% calls today - I thought I was nuts adding 275 P’s at 277 expecting an even larger EOD rally, but thought protection puts were necessary this week. Worked out very well!
I’ll hold puts and expect SPY to test 270 support again this week. I will only add calls IF SPY closes above SMA 200...
JMHO
Lol, indeed - one can walk away for 5 minutes, come back and it's $1.50 lower...and then the same for the ups...large swings either way at any moment. Good for daytrading if one plays within the bands...