IrishTxAggie said:

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Brian Earl Spilner said:

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Honest question: Why do people use Robinhood over established banks like Schwab?

I've never payed fees or commissions.

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Millennials, smaller accounts that aren't offered the no commission/fees, ease of use on mobile, free options

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In other words...sticking it to the man

For someone like me who just started trading options the past 6 months or so, it's a very simple and dumbed down platform. Over the past few months as I've gotten more comfortable, I've been transitioning over to a more reputable broker. Just my $.02

For the record, I'm 31 and I was completely new to investing when I started. I had opened Schwab for the checking and basically started using my brokerage and Roth accounts because I had them. (Shame I took so long to start.)

I found it pretty easy to learn, and the mobile app is solid. I recommend it for both investing and banking. (Unless you really need physical bank locations for whatever reason.)

McInnis 03 said:

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SPY model T complete.

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What does this mean?

1-1.25% rate cut

Is that a sign that things are worse than expected? Or is it just a way to combat an irrational over reaction?

I meant well before yesterday...

the free trading definitely lured people in for sure and it seems like their platform was extremely user friendly (when working at all).

Well that's weird. S&P taking a dive now, even after rates are cut.

oldarmy1 said:

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CX liked the rate cut. Out of the ashes

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For those that were too stubborn to sell some of these $4.5 calls for a small loss right after the earnings were released - what would your advice be for those people? Asking for a friend of course. If it bumped up to $.08 or so would you consider selling half of those to get something back? Or were these so far gone that they are basically lotto tickets at this point?

Brian Earl Spilner said:

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Well that's weird. S&P taking a dive now, even after rates are cut.

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It's the corona vampire?

The accessibility and the useful nature of the mobile app.

Let's face it, they nailed the integration of the user experience and the trading platform on a basic level.On the phone nothing compares.

Their charting: crap

but having the markets under your thumb on you phone is worth a ton and I think is the main reason people stick around. I'll be out as soon as their crap gets sorted out.

RH appears to be semi functional now. I was able to exit my spy calls. No idea if my fills are correct but I got out at a slight profit still. However, profits would've been a lot higher if I could've an hour ago like I planned to. Oh well, can't complain with profit after a debacle like that.

Cromagnum said:

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McInnis 03 said:

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SPY model T complete.

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What does this mean?

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"model T" is a term OldArmy1 brought in to the fold to represent "finding the mean" after a large move. So imagine a spike on ZZZ from 105 to 115. You see a clear start to the jump and you think you've seen the reversal indicator at 115 somehow.....the "model T" would represent a return to 110, or the mean of the spike. He states this happens 80%+ of the time and he uses it to to a quick in/out or out/in trade.

panduh bear said:

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The accessibility and the useful nature of the mobile app.

Let's face it, they nailed the integration of the user experience and the trading platform on a basic level.On the phone nothing compares.

Their charting: crap

but having the markets under your thumb on you phone is worth a ton and I think is the main reason people stick around. I'll be out as soon as their crap gets sorted out.

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This. I'll still keep the app for mobile viewing but am moving everything to a more reliable platform. I'll never trust them again. I was also starting to get annoyed at other issues like not being able to buy options on expiration day, etc.

panduh bear said:

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The accessibility and the useful nature of the mobile app.

Let's face it, they nailed the integration of the user experience and the trading platform on a basic level.On the phone nothing compares.

Their charting: crap

but having the markets under your thumb on you phone is worth a ton and I think is the main reason people stick around. I'll be out as soon as their crap gets sorted out.

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tastyworks, for example is better than RH on a mobile.

I know everyone is ****ting on RH right now, but before the last two days, their platform has been pretty damn stable. I've been on it for 4 years and can't remember having any complaints outside of the first couple minutes of the trade day being a little slow while all the transactions are hitting at once.

I'm not defending them at all...what has happened in the last 36 hours, is BEYOND unacceptable. I will only be leaving a few dollars behind when moving the rest over to my Fidelity or opening one at another brokerage. But, they did revolutionize mobile trading, all with no fees or commissions and changed the game for the rest of the brokerages. I give them the credit for their foresight and impact on trading. However, I really think it's going to be hard to recover from this. And they can kiss their IPO goodbye for the foreseeable future.

Their app is light years better than Fidelity when trading options, in my opinion. Fidelity feels very clunky to me. I especially hate that it won't save my preference for all strikes. Showing only 10 is time lost having to expand further when a stock is moving faster. Anyone have insight into which of the brokerages is as close to RH when it comes to the experience of getting into and out of options?

Dang, even CX model T'd. Right at 3.45.

So is the model T an entry or exit point?

I'm still trying to figure out the Model T thing, but if I'm not mistaken, didn't SPY just Model T at 308.15? I bought some $306c at $305.80 and sold at $307 because I wasn't sure if I was seeing that right, but it looks like I should've been holding until it hit $308.

Can anyone confirm this?

Edit: And it looks like that was the time to also roll back into some puts.

thirdcoast said:

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1-1.25% rate cut

Is that a sign that things are worse than expected? Or is it just a way to combat an irrational over reaction?

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most likely trying to make a bold statement that they will support the market

we have had some near record over selling in the market and they are working to help stop that

they are mostly concerned with keeping inflation at 2% - cutting rates helps them achieve that given what is currently going on

I need more negative delta, someone give me some ideas.

McInnis 03 said:

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I need more negative delta, someone give me some ideas.

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Just give me your money; I'll take care of it.

Bob Knights Liver said:

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oldarmy1 said:

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CX liked the rate cut. Out of the ashes

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For those that were too stubborn to sell some of these $4.5 calls for a small loss right after the earnings were released - what would your advice be for those people? Asking for a friend of course. If it bumped up to $.08 or so would you consider selling half of those to get something back? Or were these so far gone that they are basically lotto tickets at this point?

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Yes I'd seek to cut losses on all of the various option trades we were in when the hammer came down on the markets. They will not be coming back by March 20.

oldarmy1 said:

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Bob Knights Liver said:

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oldarmy1 said:

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CX liked the rate cut. Out of the ashes

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For those that were too stubborn to sell some of these $4.5 calls for a small loss right after the earnings were released - what would your advice be for those people? Asking for a friend of course. If it bumped up to $.08 or so would you consider selling half of those to get something back? Or were these so far gone that they are basically lotto tickets at this point?

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Yes I'd seek to cut losses on all of the various option trades we were in when the hammer came down on the markets. They will not be coming back by March 20.

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I'm in the CX April 17 $4.50C. I need to see more of a pop for it to be worth selling.

GreasenUSA said:

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oldarmy1 said:

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Bob Knights Liver said:

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oldarmy1 said:

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CX liked the rate cut. Out of the ashes

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For those that were too stubborn to sell some of these $4.5 calls for a small loss right after the earnings were released - what would your advice be for those people? Asking for a friend of course. If it bumped up to $.08 or so would you consider selling half of those to get something back? Or were these so far gone that they are basically lotto tickets at this point?

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Yes I'd seek to cut losses on all of the various option trades we were in when the hammer came down on the markets. They will not be coming back by March 20.

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I'm in the CX April 17 $4.50C. I need to see more of a pop for it to be worth selling.

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Same and also holding.

Talon2DSO said:

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So is the model T an entry or exit point?

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There's many ways to trade it. For example, it would be an exit spot for puts entered on the spike. Or it could be a re-entry spot for calls if calls (even covered calls) were sold around the high. You gotta get creative and use the predictability for strategy of choice based on time and risk tolerance.

SPY coming back down to 300

10 yr below 1%

Looks like the rate cut wasnt enough to support things. Consumer confidence must not be convinced this is over

So, when should I refinance my mortgage?

IrishTxAggie said:

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oldarmy1 said:

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Futures all over the place again. Down 10+ to up 16+

Spreads should be profitable for a while longer

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I feel like we are only going to have extremes for awhile. Either up 2-3%/day or down. There will be no middle ground. Bulls win one day and bears win the next. Not really, just feels that way after the hard push at the close and then there was yesterday.

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I hate being right sometimes

jbeck3487 said:

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So, when should I refinance my mortgage?

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Today.

Well, the TSLA strangle suggestion is doing well for me, so far.

Fed basically signaled it expects a recession. Last emergency rate cut, market was down -40%.

If that occurs this volatility will increase, and by quite a bit.