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GarlandAg2012
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AG
Boat Shoes said:

khaos288 said:

khaos288 said:

Charlie Kelley said:

khaos288 said:

Going to try a strangle today. Will buy 270 puts at 282 levels, and will buy 285 calls at 276 levels, and sell the opposite
What expiration are you targeting on these? 3/13?



Yep. Haven't quite hit a buy yet, but I want to wait for the broader levels. This right channel stuff isn't giving anything away.


Actually ended up with 3/13 290c just now. But same principle


I picked up the same.
What kind of profit management strategy are you following? I got in at 1.46.
Boat Shoes
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AG
GarlandAg2012 said:

Boat Shoes said:

khaos288 said:

khaos288 said:

Charlie Kelley said:

khaos288 said:

Going to try a strangle today. Will buy 270 puts at 282 levels, and will buy 285 calls at 276 levels, and sell the opposite
What expiration are you targeting on these? 3/13?



Yep. Haven't quite hit a buy yet, but I want to wait for the broader levels. This right channel stuff isn't giving anything away.


Actually ended up with 3/13 290c just now. But same principle


I picked up the same.
What kind of profit management strategy are you following? I got in at 1.46.


Profit management???

I bought hoping we run up into the close. If we do, I'll try to go net free and hold the rest overnight.
khaos288
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AG
GarlandAg2012 said:

Boat Shoes said:

khaos288 said:

khaos288 said:

Charlie Kelley said:

khaos288 said:

Going to try a strangle today. Will buy 270 puts at 282 levels, and will buy 285 calls at 276 levels, and sell the opposite
What expiration are you targeting on these? 3/13?



Yep. Haven't quite hit a buy yet, but I want to wait for the broader levels. This right channel stuff isn't giving anything away.


Actually ended up with 3/13 290c just now. But same principle


I picked up the same.
What kind of profit management strategy are you following? I got in at 1.46.


Personally I like to buy 4, sell at 25%, 40%, and 100%. Then hold the last to see what happens or if there's a good push and big number sell.

Stop loss at 35%
J_Landes89
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AG
Anyone Buying TLRA ???
Boat Shoes
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khaos288 said:

GarlandAg2012 said:

Boat Shoes said:

khaos288 said:

khaos288 said:

Charlie Kelley said:

khaos288 said:

Going to try a strangle today. Will buy 270 puts at 282 levels, and will buy 285 calls at 276 levels, and sell the opposite
What expiration are you targeting on these? 3/13?



Yep. Haven't quite hit a buy yet, but I want to wait for the broader levels. This right channel stuff isn't giving anything away.


Actually ended up with 3/13 290c just now. But same principle


I picked up the same.
What kind of profit management strategy are you following? I got in at 1.46.


Personally I like to buy 4, sell at 25%, 40%, and 100%. Then hold the last to see what happens or if there's a good push and big number sell.

Stop loss at 35%


I also bought 4. Maybe I'm being too aggressive. Was hoping to go net free with 2 and hold the other two.
IrishTxAggie
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AG
SPY 3/31 307C FOR $2.8MM AT $1.11

Over 25,000 contracts
khaos288
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AG
Boat Shoes said:

khaos288 said:

GarlandAg2012 said:

Boat Shoes said:

khaos288 said:

khaos288 said:

Charlie Kelley said:

khaos288 said:

Going to try a strangle today. Will buy 270 puts at 282 levels, and will buy 285 calls at 276 levels, and sell the opposite
What expiration are you targeting on these? 3/13?



Yep. Haven't quite hit a buy yet, but I want to wait for the broader levels. This right channel stuff isn't giving anything away.


Actually ended up with 3/13 290c just now. But same principle


I picked up the same.
What kind of profit management strategy are you following? I got in at 1.46.


Personally I like to buy 4, sell at 25%, 40%, and 100%. Then hold the last to see what happens or if there's a good push and big number sell.

Stop loss at 35%


I also bought 4. Maybe I'm being too aggressive. Was hoping to go net free with 2 and hold the other two.


In a non-insane market, I definitely normally do the hold for net free. In this market, I'm taking profit on the way up and hoping for one contract net free at the end.
Trolley Problems
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For those of you playing SPY strangles, what is your timing, contract expiration, and pricing strategy?

I get the concept of how they work, but I'm having a little trouble translating it into a practical application on my own. Hoping for a little guidance from some folks here with more experience than I.
ProgN
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McInnis 03
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AG
Is there a proper way to handle a long strangle with adjustments or do you just hope for a big overall move and then make your decision?

Ie:
current stock price 278
buy the 273 put
buy the 283 call

If the stock trends in a direction during the time you're holding it, is there a proper way to adjust the put or call, or do you just hope for the exceptional stock price travel?
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
JobSecurity
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AG
Too late for 401k to cash? I know dumb question because nobody knows what will happen
McInnis 03
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Trolley Problems said:

For those of you playing SPY strangles, what is your timing, contract expiration, and pricing strategy?

I get the concept of how they work, but I'm having a little trouble translating it into a practical application on my own. Hoping for a little guidance from some folks here with more experience than I.
hahahaha, we must be about to play the same game.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
azul_rain
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I'm still bearish on the market, I think we have a steady decline this month at the very least
Talon2DSO
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Please take my comment with a grain of salt but this seems to be working for me.

Right now in a drop, I look for an affordable call about 2 days out since those premiums are in a decline. I set my buy limit lower than the premium. For me this is a crap shoot. When those get picked up, i monitor for the upswing. On the upswing, I'll buy a put and monitor the call to see if it becomes profitable. Once profitable, I sell and use those proceeds to purchase another call or put depending on which way its trending.
aggiedaniel06
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AG
At this point, yes it's too late. Just keep dollar cost averaging in regardless of the price and in a few years you'll be up bigly.

In fact, if you're not maxed out on contribtuons, I would start increasing it, if you can afford it.
Exsurge Domine
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Prognightmare said:




Are you posting your own tweets?
aggiedaniel06
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AG
IrishTxAggie said:

SPY 3/31 307C FOR $2.8MM AT $1.11

Over 25,000 contracts

As I type this, volume on those is 29.5k and OI is 4865.

That's got to be a closing transaction of short calls.
ProgN
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Yes, it's easier for me to tweet a news article and then import it from Twitter when I'm on my mobile.
Talon2DSO
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AG
OI?
leoj
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Talon2DSO said:

OI?
open interest, positions that were already taken prior to today. Volume is today's number of transactions
the last of the bohemians
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You guys expect an avalanche below if this level breaks?
Feels like a 3000 pt drop is almost here
J_Landes89
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AG
So, finally made the switch from Vanguard to TD Ameritrade official..

Just downloaded ThinkorSwim from TD, and Wow. Lots of potential, but slightly overwhelmed..

Anyone have some good tips and tricks for how to best customize and make that app useful?

Thanks
Talon2DSO
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the last of the bohemians said:

You guys expect an avalanche below if this level breaks?
Feels like a 3000 pt drop is almost here


I've been waiting for it. Sold the 279p, just waiting for the 274 to hit
Talon2DSO
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AG
the last of the bohemians said:

You guys expect an avalanche below if this level breaks?
Feels like a 3000 pt drop is almost here


I've been waiting for it. Sold the 279p, just waiting for the 274 to hit
EngrAg14
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the last of the bohemians said:

You guys expect an avalanche below if this level breaks?
Feels like a 3000 pt drop is almost here
below 273.09 on SPY next major stop is that Dec 2018 V ~235ish.
Cartographer
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Nothing specific but, youtube is your friend here.

Type in 'thinkorswim .....' and get your answers.

Lots of great tips and tricks for setting up scanners, adjusting your windows, etc.

You'll find it's very powerful and the menus and functions repetitive so once you feel comfortable the ability to expand your knowledge comes quickly.
leoj
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We break into new lows below 273.4 on spy and we will probably end up hitting circuit breakers.
59 South
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leoj said:

We break into new lows below 273.4 on spy and we will probably end up hitting circuit breakers.


Yep.
Talon2DSO
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AG
leoj said:

We break into new lows below 273.4 on spy and we will probably end up hitting circuit breakers.


Getting really close here
the last of the bohemians
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Thanks for feedback. Hopefully it's a capitulation drop.
aggiepaintrain
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I will do everything in my power to stop buying Chinese stuff. I know it's hard but so is losing six figures in 2 weeks
FJB
iluvpoker
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Nasdaq 7866
S&P 2713
Both look to be in play today. Those figures represent bear market territory- 20% from the highs.

The Russell 2k already in bear market. Hitting levels lower than the day Trump was inaugurated.

Time to put politics aside and get this fire under control.
aggiedaniel06
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AG
Username checks out!
ProgN
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Not gonna happen. The media has weaponized this to create panic to hurt the economy.
Aggie95
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iluvpoker said:

Nasdaq 7866
S&P 2713
Both look to be in play today. Those figures represent bear market territory- 20% from the highs.

The Russell 2k already in bear market. Hitting levels lower than the day Trump was inaugurated.

Time to put politics aside and get this fire under control.
so just kick the can down the road again? eff it...rip the band-aid off. Let the people who started and fueled this crazy hysteria feel the full weight of their actions.
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