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SPY having a real issue with the 263.20 pivot, any break should be very bullish...I will add to calls then, and then only...
Adding puts if it fails the next attempt...
JMHO
It only took 2hrs for them to drop SPY over $5, so yes, a lot can change by Friday. It appears that CAT's investor call started the dumping when the CEO announced that the Qtr, which was HUGE, was likely to be the 2018 best given future expenditures necessary for the Company.
However, I get the feeling that this was purposefully orchestrated to "thin the ceiling" since SPY was struggling to breach 268-270...might be WRONG, but I think there will be a MONSTER BOUNCE tomorrow and Thursday, and SPY will be over 270 by Friday after AMZN's earnings.
I loaded up on AMZN and FB calls...hoping they offset these heavy losses today (my QQQ's dropped from $1.70 to .20)...SMFH!
Well done, Ang...wish I was there with you, but this one I didn't see coming and got caught with my pants down...in a big way!
What a day to just sit on puts and feel comfortable...congrats to those who beat the BEAST today!
Could have made $5k if sold calls at the open but held because of CAT and GOOGL earnings which were stellar...now down $5k...SMFH!
I suppose that's how "da boys" like to play it...when we all least expect it!! Well done, da Boys!!
WTH...talk about “da boys” screwing me...didn’t see this drop with GOOGL’s and CAT’s earnings + other big tech this week!
What a bull trap the past couple of days!
Possibly in 2019, but I’m convinced SPY will visit 274/275 this week, in fact, I’m betting quite heavily on it!
I'm sticking to my 4/20 and 4/27 calls regardless - I trimmed a little on the Gap-Up open, but added some back for a nice discount...will just wait!
Trying a new thing whereby I trade around a SPY longer-term position...so far, so good!
Low volume manipulation down today...BIG BOYS can do what they want with this volume. May take it all down even lower to test the waters and see if the BIG BUYING strong volume jumps in.
From what I can see there's still a gap at 261 that needs filling...yikes!
Well done, Ang - I sold mine too early, but I'm heavy on 4/20 calls now...and not exactly feeling good about it...but will stick to my plan!
Exactly what's happening now, Ang...JPM, C and BOA pushing SPY!
Volume still so low...
Interesting...what makes you say so, risk? That's brave on this surge and 4th attempt at 266.60+ - I'm just sticking with my calls, but I'm sure there's going to be another drop in the 3-3:30pm period...
JMHO
That would be BRUTAL, but a great opportunity for 4/20 calls IMO...I am hoping for it!!
Whew, quick 30% scalp on puts there...probably sold too soon but didn't like seeing 266.66 get broken!
I know...triple top, or break...my only issue is the volume...25M is very low so the bots are bidding it UP?!
Banks looking very stable and solid as expected into earnings tomorrow...
Yep, NN is so right about that (266.50) being a stubborn resistance, but once broken 270 should be easy...
Personally, I don't think 270 will be this week (I originally thought 274 by Friday), but the Banks could provide the impetus tomorrow...
Once again, SPY is UP on low volume, and down on larger volume so it could DROP to 263 VERY EASILY IMO...
Damn, just missed puts by 2c on that double-top...hate it when that happens!
That is a strategy that I've not yet considered, risk, and two weeks out is a lot for me, but I'm very confident in earnings and SPY 280, so that makes a lot of sense, especially since I've probably lost over $20k this year in theta alone!!
FATONIO increasing the dilution to 200-300M weekly now...you know those 4.5B additional shares were just for that, 9B A/S...SMFH...so glad I saw the light and " RAN like HELL was after me" at .0002/.0003.
Fatonio is such a douche because INCC could have RUN to .0010-.0020 without all the DILUTION...
INCC RIP, well until the R/S...
This one is now on my "never trade again" list!
Very possible, risk, as I said, it's SPY's perfect storm; Energy, Big Tech and Banks rallying together, however, there is still underlying "nervousness", so I cashed out of all 4/13 calls and I'm holding and looking to add to my 4/20 and 4/27's. I'm not brave enough to mess with puts today...
Agree, mils, just sold all 4/13 calls...going to wait with cash to see if we close the gap...I hope so!
That's my bet, mils, earnings should be STRONG and squash the geopolitical news (unless WWW3 does break out...god forbid). I am a bear and still believe the market is hugely overvalued but I think it's got 1-2 more quarters to push UP UP UP, and I'm going along for the ride, this time!
Just sold 80% of 4/13 calls since I was loading like a madman yesterday and didn't want to lose out on the 80-130% gains!
However, I did buy 4/20 and 4/27 which I will hold and hopefully add to if we get some decent dips...
Interesting that Hang Seng has rallied all week...I'm sure "Now" will have a chart...
Also very possible SPY gets energy, banks and big tech running simultaneously...perfect SPY storm barring any Orangutan tweets!
Going to be interesting...SPY can go a little "loco" after Fed minutes. Personally, I think big UP to 266, and then drop back to 263...
Ping-pong time!
Still holding 4/13 calls, mils, added a couple more on that dip, but will sell those soon...
Lol, I am patiently waiting, risk...holding a big bundle of 4/13 265 and 266 calls and just scalping puts because they keeping dropping SPY $1+ so easy money. So far, 2 for 2 today
good call, NY - I grabbed 264P's just before!
Nice one, mil!
That’s what I think, Ang, “da Boys” trying to shake...
I will be buying 4/13 and 4/20 calls at the open!
Sorry about your puts yesterday...
Well, not everything, NFLX up and looking strong...hmmm, looks like “da Boys” are painting down, and then probably slowly rise to 266 in the afternoon...
Wish I’d waited on my calls, but will add more at the open.
Must have had you in my head, risk...I couldn't resist adding a little more SPY 4/13 267C's in a/h's
Will be adding some 4/20 calls any any decent dip tomorrow...
Agree, I have heavy 4/13 calls into the start of earnings on Thursday + JPM and C for Friday. I trimmed 20% of the position on the 266 spike, but it was hard to watch the walk-down and value loss EOD...
Thinking I should have bought some protection puts at the close but I'm pretty confident SPY makes a "GO" for the 270 Gap-fill this week.
I think so, but it would have been STRONGER if we tested 261...might still do so, but I doubt it.
Well here it is, looks like they're flipping the script...
or do "da Boys" want us to think that...low volume...could drop like a rock in no time. However, I tend to agree, trading looks mostly positive to me and I just added 265 calls...?!
Exactly...I would think that would be a GREAT strategic approach (and typical old hedge fund buying process) but buy-bots seem in a hurry to push SPY Up as fast a possible! I've never seen anything like it...will they be programmed to sell today...I doubt it?!
Lol...that's negotiation?! That's AUTOCRACY...