Why not just use SPXU instead of puts?

What/why I'm doing with AMAT call trade. With major support holding I'm expecting another bounce to continue over next several days for most stocks. I would love to see a repeat of the AMAT strong move after breakout form another "V" bottom up move. Options already at $112 gave me a quick opportunity to sell 67% (just pulled the trigger) and have the remaining options "net free". I place a trailing stop 30 cents below entry on the remaining and let it do whatever it will do.

Even if a down trend continues it looks like $56 would be challenged. I would sell the options above $55.50 to capitalize on time value premium.

That Apple investment would have netted that gentleman $5,500 in 4 days if he listened to me.

This strip joint business is FUN FUN FUN!

I've never made any wise investments in a strip club...

What a crap day to go short.

FriscoKid said:

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What a crap day to go short.

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You only went Puts right? No shorted shares of anything?

oldarmy1 said:

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FriscoKid said:

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What a crap day to go short.

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You only went Puts right? No shorted shares of anything?

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Yeah I bought a handful of puts a couple dollars out of the money. Not much risk.

Thank you aapl and baba calls...made my month!

Oldarmy, you ever been involved in a hedge fund?

claym711 said:

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Oldarmy, you ever been involved in a hedge fund?

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No sir. Hedging trades on investments and currency hedges for my Phillippines and India businesses are about as far as I go.

Futures are looking green, but its early...

267.9 looks like a good line to watch? This looks like strong resistance that has been tested a few times and it's close to the descending triangle line. I'm surprised at the Friday move so I don't know what to expect.

FLEX volume on april 27th with bottom holding April 30th gave another pure entry for the short term traders. So we have obvious major support level set around $13 and the initial move up over a dollar. How much of the major gap can get closed before consolidation interest kicks in?

It has some of the lowest premium Call options in the entire market. You can buy in the money $14 Strike calls for Friday at $0.33 cents and $14.50 at just above a dime. You can also buy the $14 Put on the early bid higher for under 20 cents. That's how I would trade it. Buy the Put early, look for a quick volume break taking it down and then enter under $14 so your Put protection lets you hold this week to see if that big gap gets some action.

yeah, I really think 267.9-268.1 is going to be the top

GILD is another volume bottom trade opportunity. I always look for the Put and long entry approach for wanting to hold these. If looking at them as short term trades then simply enter with a stop loss at $64.50.

oldarmy1 said:

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GILD is another volume bottom trade opportunity. I always look for the Put and long entry approach for wanting to hold these. If looking at them as short term trades then simply enter with a stop loss at $64.50.

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GILD bought a company called Kite Pharma that is at the forefront of CAR T cell therapy. CAR T is a huge game changer in the cancer world and I expect GILD to reap huge benefits of this technology.

CSCO broke recent resistance and testing left side of the cup. I'd go out to mid June $48 Strike

CSCO bit back at ANET's market climb(they have been on tear the last year)

ANET-Arista Networks got their start by providing cheap 100 and 40 gig switching and fabric design. Early players were with high frequency traders. They were running the arista boxes with custom software. Arista then starting attacking cloud and made a pretty sizable dent, cost were in the neighborhood of a 1/3 to 1/2 of a similar cisco offering. Various lawsuit troubles with blatantly copying cisco code, think all but 1 or 2 have been settled for now.

Some folks really like them because you can run custom code if you have the developers, so in a sense they just become a whitebox switch/router

CSCO- more recently they have had quite a few holes in their lineup that have given headway to the like of HPE, JNPR, and ANET. Until the last year or so cisco didn't have much in the way of 40 and 100 gig smaller form factor offerings that were under 500k. They originally said that the nexus 9k was going to be the 6500 replacement.....yeah right(500-700k router to repalce a 100k router), now they are moving forward with the 6809. They have upped the 100 gig and 40 gig density options available. They have really started to get a bit more aggressive with the pricing which seems to be reflected in this last quarter.

HPE- i look for HPE to make a hard move to get some of the access layer from cisco

JNPR- I really like the QFX and MX lines right now, they are feature rich and stout. The advanced licensing gets a little pricey but i think they will address that in short order.


In general, all the networking folks seem to be moving to a subscription model for the underlying code. Like, they will damn near give the hardware away and move to just charging for the feature sets/licensing you choose on a yearly basis.

The pullback from net neutrality could cause the isp's to really start sinking some money into retooling their core, upgrading all legacy 1 and 10gig interfaces to 100 and 400 gig.

Sold some ROKU puts for 1.10 at a 30.5 strike expiring this week.

What triggered the downturn for the DOW this afternoon?

gougler08 said:

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What triggered the downturn for the DOW this afternoon?

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Trump announced that he had made a decision on Iran and would announce it tomorrow at 1:00...

But, that is small potatoes and not really the reason IMO. the markets had entered some really strong resistance zones and there wasn't any buying at those levels. I think an elephant in Zimbabwe could have farted and the extra CO2 could have caused the selloff. Still stuck in the same trading range and we were close (not touching) the top of that zone.

Congrats to Frisco for once again nailing the top resistance intraday (within a .5 % margin of error). I award you 20 Master Trader Points.

FriscoKid said:

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gougler08 said:

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What triggered the downturn for the DOW this afternoon?

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Trump announced that he had made a decision on Iran and would announce it tomorrow at 1:00...

But, that is small potatoes and not really the reason IMO. the markets had entered some really strong resistance zones and there wasn't any buying at those levels. I think an elephant in Zimbabwe could have farted and the extra CO2 could have caused the selloff. Still stuck in the same trading range and we were close (not touching) the top of that zone.

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I bought shares of VDE. I think Trump is going to be pulling out of the Iran deal and Oil is going to $75.

SN decent numbers...up a little after hours.

never mind, I get it.

CNBCW is waving the war flag with Iran.

JD misses earnings estimate, but rev is +33.1%

oldarmy1 said:

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SN decent numbers...up a little after hours.

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and down nearly 10% in pre-market
will open down nearly 20% from yesterday's high

AVEO getting hammered PM. Missed EPS by -0.01, but the main thing is that the P3 readout has been pushed to Q3 due to not having enough PFS events which is actually a good thing. Basically a lot of unknowledgeable investors dumping on the news of not getting the P3 sooner.

The post-earnings selloff continue. Only 9% of earnings reports for the quarter have resulted in share appreciation. Sell the news.

Little TRX looks to be trying to continue its trend upward after the pure double. It's all net free for me from here. 50% sold.

oldarmy1 said:

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The post-earnings selloff continue. Only 9% of earnings reports for the quarter have resulted in share appreciation. Sell the news.

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Another stat of importance is that of that 91% of post-earnings drops 58% were back above pre-earnings drop at 30 days later. Q1 tracking only. Historical completely different.