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Unfortunately 8/24 SPY 283P's, Risk, which I bought at $1+, terrible trade on my part, and not a small amount. However, my NFLX C's hedged approximately 75% of the loss...so far...
What I'd give for one of those cascading waterfall DROPS to 280! My 283 P's are worth next to nothing now
On a plus side, I did well on my NFLX 8/24 325 C's
Sorry for your losses, Velar - I hope you make it back. Right now, I'm holding NFLX 8/24 335 C's and SPY 283 P's, and I'm hoping they move the right way together and don't just "hedge" each other out...
Yes, I did notice those three candles, and agree, tomorrow's action will be key to see if there's any follow-through or continuation to the downside. I do have my doubts given the late afternoon rally today, however, I did add 8/24 SPY 283 P's in A/H's, just in case...
Best of luck, BOS!
No, I sold ALL, just relieved to have gotten out with some green! AMZN just doesn't want to go down and stay down very long...
I took profits, BOS, and remain 90% cash now (only holding 8/24 NFLX 335 C's). I was deep RED yesterday so "green" was an invitation to sell!
SPY 280 support has held, and so did AAPL, which should give the bulls some strength.
JMHO
Well, this just had to happen since the market has been algo'ing higher on fumes to ridiculously overbought levels despite significant trade tariffs, earnings that appear to be peaking, and now emerging market contagion!
Da Boys clearly did not want me to have Monday as my DROP and delayed until today...dem bassturds, and pulled me out of 75% of my positions yesterday in fear of large losses with 8/17 fast approaching and heavy decay.
However, I am benefiting today, and thankful that I still held 25% of my put positions...overall $3K profit...I'll take it!!
Interesting scenario developing here with SPY...many many individual stocks hitting ATH's but SPY looks to be topping-out...
The ridiculously low volume enables "da Boys" and algos to keep pushing this UP UP UP, and they're clearly protecting SPY 285 and bid-propping all over the place...
They either gap and RUN above 286 (although I cannot see a catalyst - maybe low CPI number tomorrow), or SPY drops 3-4 Dollars tomorrow/Monday IMO.
Personally, I have UVXY and added heavy 8/17 SPY and QQQ P's today, also AMZN 8/17 1880 P's with no "security blanket"...looking for a 10-20K payday next week!
Bought 100k shares of this pooh today (average .0625) because it appears the dilution might be over...target .20 to .30
JMHO
Big Tech valuations are over the moon and yet the appetite continues...personally, I have never seen anything like this...
I honestly cannot work-out where's it's heading; tariffs a BIG negative, but good earnings draw is justified...exactly what the Trump Administration planned for to reduce the stock market impact of tariffs...
Sold my 277P's first thing this morning and have played the "spikes" three times now.
However, I see a HUGE gap at 275.50 that needs to be filled and the tariff news is just what is needed to fill that gap, and then rocket UP UP UP.
JMHO
I did the EXACT same thing, NET...didn't think they would get filled but they did in the last seconds of afterhours...
I'm kicking myself for selling my 275C's too early because I didn't notice the upside GAP-fill at roughly 278.50, I left a good $6k profit on the table.
Now the question is....do we get a downside GAP-fill tomorrow and/or Wednesday....target, 275!
Wondering whether we see SPY pop to $280.60 after FED minutes, and then fall back to 272-275 over the coming days/week?!
Armed with both 278.5C's and 278P's...
Looks that way, NN...they definitely want to fill that gap at $280.60 and then “pull da rug”...IMO
Indeed Net, indeed...I get the feeling that there's going to be a MONSTER jam jab late today or tomorrow, and then a cascading waterfall to fill the gaps ranging from 272-274, but it's so hard to see that happening with low volume and low volatility....
I just did the same with SPY 278C's...weakness...is there any? Technically, we should dip to 278.80 and I hope to buyback there, but they don't want to let it go down...steady UP, with the odd spike to move puts further "out of the money"...
Unreal Ang, I’m just BTFD’s from now on and riding with the bots until key support levels are broken.
Buybots melting it up...most likely the whole summer...SMFH! We couldn’t even drop .05% today!
Unreal Ang, I just bought my 277P’s which I sold for .62 this morning, for a .02 lotto...
Looking like a BEAR trap here...wishing I had sold all puts at about 10:45am but held on suspecting more weakness but the Buybots are on and counter every drop with immediate buying....
Now...do we have a double-top and DROP...sure doesn't look like it...bulls buying with reckless abandon...DOW doesn't want to stay RED after breaching 25000 + Russel 2000 is green...
Would love to see a cascading waterfall, but these bulls and buybots are BTFD and protecting 277 and 276.50 with a kung-fu grip...SMFH.
Nice weekly gain, Net. This scenario you’ve predicted would be purrrfect for me since I have 6/8 276 and 277P’s which I would swiftly sell at the open and get calls for the Jam Job!
Thanks Net, I’ve learnt a lot from you and how it often pays being on both sides of the trade simultaneously. ”Dem Bassturds” not going to collect my coins that easily!
I’m hoping for any easy Gap-down tomorrow, but the BTD is vigilant, so profits need to be scooped fast on the put side. However, makes for easy call buying whenever there’s a dip...I think I traded 277C’s at each dip today for .10-.20 gains...overall $2-3 per contract!
Very true, risk, I used to make heavy losses by not “adapting” to a trade and learnt that insurance is vital eventhough it can reduce profits. I almost always have protection now.
Phew, I’m tired...scrambled hard today! Hopefully, I get a nice gap-down tomorrow and collect profits early tomorrow, however, will be looking for 6/15 puts...
That's true, I did the same last Thursday, and look what happened...the complete opposite...I must be a sucker for punishment!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=141212813
Well risk, I got smacked HARD this week by the BULLS but managed to save some heavy losses with over 52 individual trades within the last two days...both calls and puts (50 contracts for .05-.10 gains) each time. NN would be proud of me!!
I now have some rather low cost SPY 277 and 276P's for 6/8 expiration and am hoping for some negative "Chump" tweet or other bad news to salvage my week...
However, these bull-bots keep fighting and protecting support levels and the immediate recoil/bounce upon any drop is unbelievable.
SPY's chart looks HUGE strong and positive to me...nothing scary, except those "indecision" candles whereby SPY typically sells-off the next 2-3 trading days...
lol, me too, and just sold all my call hedges...now feel very vulnerable with a huge stack of 6/8 puts...
Please buy calls, ANG!
Lol...just what I was thinking! I can almost imagine a fund manager coming back from a morning of golf and going WTF...these bots have just bought EVERYTHING and ANYTHING!
So much for that double-top...the BOT melt-up continues...SMFH!
Looking like a nice double-top here...do we finally see a DROP of meaning?!
They are protecting 2760 with all their might and using the Financial's rally today...Techs begging for a breather!!
Wow, this is starting to look like last year's Summer Bot-rally all over again. Basically, buy a call position at the beginning of the week and sell at the end of week...SMFH!
Nasdaq is begging to pullback but "dem Boys" won't let it! Using the DOW and Banks to try and keep the rally going now...SMFH!
Lol, BOS, looks like ”dem Boys” must have read my post and are now grinding SPY to low volatility, low volume, Summer ATH’s...I suppose I’d better kick-in some heavy call protection now!
Makes zero sense to me given that a full-blown trade war is looking more imminent, but hey, that’s how they make bigger money...expect the unexpected!!
Looking very much like Bull-bots are now in control unless any significant selling volume comes in to break them...it's best not to fight them...I have my 6/8 and 6/15 puts all loaded up, and will just call it a day!
Good trading all!
I have been soaking-up 6/8 and 6/15 puts as low as possible...out all calls...just waiting patiently for that cascading waterfall...it's coming IMO.