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I did the same SPY 10/19 273, 275 and 278 C's...not a small amount but with SPY 275 protection puts...
Wow... volume 190M in the bull vs. bear battle of the year!
Tomorrow and next week sure going to be interesting, and FUN!
Woohoo, love volatility!
I am...10/19 275 and 278 C's..., no protection puts...yet...
Talk about a battle going on here, but the bears seem to have the edge even at these low levels...
Wow BOS, I didn't even think that would be in question but here we are! SPX already well below SMA200!
More than interesting indeed. I'd be surprised if we don't see a massive RAMP-UP into the close today...
All out of any and all SPY P's for now, and sitting with 100% calls (10/19) ahead of BIG bank earnings tomorrow...we'll see. I think SPY at least hits 280 tomorrow...
Wow, look at that volume something we haven't seen in SPY for a long while 112M at LUNCH! I have straddles today and yesterday (10/19 SPY 278 C's and SPY 275 P's) and just keep trading them, but ultimately sold all my P's too early yesterday, but a $50k week all-in-all, so cannot complain (could have been $150k)...
Basically investors opt-out of the stock market for "risk free" investment at 3%+. From what I understand 4% is more of the magic number where the stock market outflows will be significant enough to cause a crash!
Thanks chelsea, my first $20k+ trading day in a long time when I needed it most...whew...salvaged my account after a terrible September (my worst trading month ever)!
Personally, I think we rally here into earnings next week but we are in a very inflated market...
All the best,
Archi
Sold SPY 10/12 287C's here...great trading day!
Wow, didn't expect that drop and added more SPY 10/12/18 287C's for a EOD bounce, and possibly green close...
Out of SPY calls on the bounce here...will wait for the close to determine next steps. A great day!!
Nicely done, NN - just sold mine close to what I think is the low of the day 285.50 for some decent gains!
Added some calls for a quick bounce...
It does look likely, risk...I've been adding 10/5 290 P's all day!
Probably Monday since tomorrow is EOM "window-dressing" - I sold 50% before the close and will hold the remainder puts into next week.
Another great day!
Yep, me too - starting to look exactly like yesterday before the sell volume kicked-in!
I'm very heavy 10/5 290P's...
Lol, there we have it, low volume "bull" and melt-up back in control using the AAPL upgrade as a catalyst...unreal! I added to my 10/5 290P's since I feel like yesterday's drop and volume surge wasn't a "one-day wonder"...we'll see...playing with profits only!
Nasty looking candle today with VIX spiking and some volume returning, but we've seen this before only to have SPY jump up and erase the DROP in a day or two. In a normal market, SPY 287 would get tested tomorrow, but in this STRONG BULL market, it's doubtful. Interesting notes: Russell 2000 down 1.01% today; SPY closed below EMA9, MACD trending down, Chaikin money flow showing first outflow since August...
I trimmed 50% of my SPY 292P's at the close...
Tomorrow should be fun...finally a little volatility...thanks Fed!
I've been waiting patiently for that gap-fill, spartex
Well, SPY P’s did great today and I had a bundle...I just knew that Friday’s “holding up” didn’t smell right!
Sold 75% for some sizeable gains.
Unfortunately, my FANG calls are eating into that profit but I averaged down on those at the close, so we’ll see what tomorrow brings.
All in all, a good day!
Going for the gap-fill (289.50) today IMO...FAANG stocks in trouble, but healthcare rallying...
The worst thing about it, Dollar, is that I had a decent profit with my puts and held thinking that the 289.50 gap would definitely get filled. However, I did add AMZN, AAPL and NFLX calls because the “weakness” didn’t seem like it would last into next week. Added some heavy FB calls too...
It remains to be seen if these will be a good enough hedge for my SPY puts since it’s looking like a rotation is underway (out of Tech and into Financials, Energy and Healthcare).
However, I tend to agree that new ATH’s are coming, and any gap-down or drop is a buying opportunity...I hope we both get that opportunity on Monday! :)
Very surprised “they” didn’t take the gap-fill opportunity unless they’re planning for a monster gap-down on Monday...
Next week should be interesting given the weakness in AAPL, AMZN and NFLX that I saw today + 200B in tariffs the headline.
It's almost like they showed their "hand" there...
I actually added calls right there for a quick hedge losses trade...
287 today would be awesome! GL on those QQQ P's BOS...those should be looking decent today...
US contemplating/proposing further talks with China...my puts were just starting to look good and now "dead and buried"...
Interesting...didn’t know that BOS! As we all know, it’s about time we had a very healthy pullback
Hmm, looks like the wage growth is doing some spooking...last time this happened, I think the DOW dropped over 600 points on a Friday...let’s see!
For now, wouldn’t be surprised to see the 286.50 gap-fill and the turbo-boost back up to 289...”da Boys painting pictures” as NN would say...
I’m ok with it since I have some heavy puts in AAPL, AMZN and SPY
The US market continues to defy gravity and will BTFD (like a spring) all the time...until...the "sell" begins and then it will drop 2-3% daily because it's so continuously "pumped-up". Other world markets behave far more healthily and rationally but not good ol' Trump USA!
They sure were fighting hard to keep it above 290 into the close. From what I can see the "China Negotiations" euphoria from last week added $3-4 to SPY over 4 trading days...question is, does SPY give that $3-4 back now?!
That would be a healthy pullback and close the gap at 287.50...
JMHO
Is it just me or are “they” using a FAANG stock every week to keep the market in check; two weeks ago it was AMZN, last week AAPL, this week NFLX...so GOOGL or FB next week...my guess is FB, so I added some speculative calls this morning?
Agree, BOS - it looks like the world markets are in rally mode...I can't imagine why but that's clearly what "da Boys" want, or do they "flip the script" at around 10:30-11am.
Ughhh, I'm going to have the largest losses of my options trading career today :( but will hopefully get some "hedge" scramble plays to reduce the damage...going to be hard work!
Well, if chart history repeats the set-up is almost identical to Aug 9 and 10 with a beautiful gap-DOWN and continued drop (also Friday). I added 8/24 SPY 285P's today to go with my pathetic 8/24 283P's, however, I'm not feeling confident...the dip-buying is endless and volume is not large enough to "squash" it...we'll see!
Agree, BOS - actually looks more like CONSOLIDATION sideways motion before the next MONSTER spike to new ATH's...
JMHO
Here we go AGAIN with this SPY candle-combo which has almost ALWAYS led to a decent 1-2% DROP! Personally, I cannot see it happening since the market seems to be trading in complete "euphoric algo mode"...still holding my SPY 283 8/24 P's in hope, however, hope is usually an almost definite LOSS...at least for me it is...