People are hesitant to prescribe it as it's being used in high high quantities. The zpack should be in good supply as it's commonly used, but there aren't huge stores of an anti-malaria drug that have been stockpiled just in case there's a virus that it can be used for.

Ideally everyone would get it, but it's having to be used as judiciously as possible.

Every knee shall bow and every tongue shall confess

Is SPY on the downside of a month long h pattern?

Every knee shall bow and every tongue shall confess

SPY 160?

https://www.zerohedge.com/markets/sp500-could-decline-1600-stocks-facing-worst-outlook-2008

OverSeas AG said:

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McInnis 03 said:

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Even with good oil news, good virus news, etc.....I feel like we're on day 2 of one of the crappiest quarters our country will see for awhile. Long term trend still yucky for 2 months IMO? Am I nuts?

P.S. What I wouldn't give to sit at a really good Tex-Mex restaurant and eat some chips and drink some margaritas with a hand full of y'all right now lol

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I doubt I qualify to be at the table, but hopefully I could sit at the next table and listen in.

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I'm lucky to get into the restaurant.

Lot of support on DIS just above $95

Boredom of WFH is setting in.

Bought SPY $250 puts for tomorrow betting on risk-off going into the weekend and went costless synthetic long with Jun 19 $247P and Jun 19 $251C.

BAC huge volume

jh0400 said:

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Boredom of WFH is setting in.

Bought SPY $250 puts for tomorrow betting on risk-off going into the weekend and went costless synthetic long with Jun 19 $247P and Jun 19 $251C.

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Same here, bought a bit of LK to see if it bounces back today/next few days

we seem to be breaking through SPX 2510. Curious to see what happens the rest of the day.

LK creeping down right now...sub 7 right now. Do we see an upswing at some point again?!

oldarmy1 said:

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If you bought under $5 you can sell the Jan 21 $15 for $2.30 The $12.50 for $2.65 - the $10 for $3.20 or the $5 for $4.60

Heck sell the $5 versus taking a loss if bought here at $7.50. Options are the greatest gift to traders in the world.

I bought APPL: premarket at $238 and missed my sell at $244.50 (it hit $244.35 while I was on the phone distracted). I see it at $244 dropping down and so I simply sell an April 17 $244 covered calls at $10.65. Now I get either $255.65 or lower my $238 entry down to net $227.35.

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For someone like me that's a noob, this is one of the better posts I've seen on here. Detailed in a way that really spells out how the covered call works to make a profit on the premium where you can also be happy with the return if it ends up being called on you.

Only way you lose on LK in the example above is if the close price on Jan 21 is $5.20 or under. If it ends up exercised on the $15 option, you still walk away with a 130% profit over 9 months and can use the premium received to get on other things as well.

AnyOtherName said:

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LK creeping down right now...sub 7 right now. Do we see an upswing at some point again?!

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Yep, be patient, just daytraders taking profit. My avg is 7.50, but not selling any til 14+.

AMRN got dropped hard the other day and did the same thing. Bounced back, then sold off a bit, now climbing steadily daily.

Closed both sides of the costless for an 8% intraday gain.

Every knee shall bow and every tongue shall confess

jh0400 said:

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Closed both sides of the costless for an 8% intraday gain.

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Can you explain how this works a little? I tried looking into it as I'm not familiar with it.

I'm guessing you sold to open a $248P and bought to open a $251C. You used the premium you collected from the P to pay for the C making it 'costless'. The C then increased at a rate higher than the decrease in the P so you sold to close the C and bought to close the P using the premium from the sale of the C.

So in this strategy, you're essentially banking on the premium of one to increase at a rate higher than the decrease in the premium of the other? I'm assuming this works better on options that are further out so time decay isn't as much of an issue?

Rumors floating of second stimulus plan on twitter

La Bamba said:

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Rumors floating of second stimulus plan on twitter

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For who?

AnyOtherName said:

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La Bamba said:

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Rumors floating of second stimulus plan on twitter

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For who?

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I hope this one is gas-guzzling sports cars for everyone. Help oil and manufacturing in one swoop. Also after traffic accidents soar, folks will remember how safe airlines are and start traveling that way again. Win-win-win. Only loser is the national debt, but that's not really a real thing, right?

NIO hasn't seen the bounce other Chinese stocks have over the last 1-2 weeks. This has me concerned -- Oil prices tanking hurting their valuation & projections? It's currently testing its recent lows. Time to buy more, hold, or dump?

There is no point in another stimulus until we can go back to work and be out and about. In fact they are not stimulus at this point they are lifelines, or life-rafts. Once we have lifted restrictions and are actively encourage to go out and about, then we can see fairly quickly which areas of the economy are likely to recover well and which ones will take more time and then the "Stimulus" can be better directed (As well as government can).

OverSeas AG said:

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Does volume seem low today outside of O&G? Half way through day SPY's volume is only 30% of a full day.

are people just waiting for the next shoe to drop? Have they readjusted their portfolios enough? Fatigue setting in?

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They're waiting for tomorrow's number at 7:30 am.

SPY will most likely capitulate around the 250 line the rest of the day.

Every knee shall bow and every tongue shall confess

Agnzona said:

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There is no point in another stimulus until we can go back to work and be out and about. In fact they are not stimulus at this point they are lifelines, or life-rafts. Once we have lifted restrictions and are actively encourage to go out and about, then we can see fairly quickly which areas of the economy are likely to recover well and which ones will take more time and then the "Stimulus" can be better directed (As well as government can).

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Disagree. Well funded and expanded unemployment, plus the checks are going to keep a lot of people on time with their bills.

You do not want a surge of delinquency and homelessness.

khaos288 said:

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Agnzona said:

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There is no point in another stimulus until we can go back to work and be out and about. In fact they are not stimulus at this point they are lifelines, or life-rafts. Once we have lifted restrictions and are actively encourage to go out and about, then we can see fairly quickly which areas of the economy are likely to recover well and which ones will take more time and then the "Stimulus" can be better directed (As well as government can).

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Disagree. Well funded and expanded unemployment, plus the checks are going to keep a lot of people on time with their bills.

You do not want a surge of delinquency and homelessness.

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So we just print cash until our hearts desire? The money has to come from somewhere.

IrishTxAggie said:

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khaos288 said:

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Agnzona said:

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There is no point in another stimulus until we can go back to work and be out and about. In fact they are not stimulus at this point they are lifelines, or life-rafts. Once we have lifted restrictions and are actively encourage to go out and about, then we can see fairly quickly which areas of the economy are likely to recover well and which ones will take more time and then the "Stimulus" can be better directed (As well as government can).

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Disagree. Well funded and expanded unemployment, plus the checks are going to keep a lot of people on time with their bills.

You do not want a surge of delinquency and homelessness.

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So we just print cash until our hearts desire? The money has to come from somewhere.

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not really. Been that way from the beginning of the treasury when the federal government assumed all states debt.

Irish- Or anyone else that uses Cheddar Flow, what filters do you set and how exactly are you using their information. I got on Cheddar today and it is a bit of data overload for me. Any advice?

Touchless said:

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jh0400 said:

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Closed both sides of the costless for an 8% intraday gain.

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Can you explain how this works a little? I tried looking into it as I'm not familiar with it.

I'm guessing you sold to open a $248P and bought to open a $251C. You used the premium you collected from the P to pay for the C making it 'costless'. The C then increased at a rate higher than the decrease in the P so you sold to close the C and bought to close the P using the premium from the sale of the C.

So in this strategy, you're essentially banking on the premium of one to increase at a rate higher than the decrease in the premium of the other? I'm assuming this works better on options that are further out so time decay isn't as much of an issue?

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You're correct on the structure, and based on put call parity this structure should deliver returns that approximate the returns to the underlying over time. I was far enough out that there wasn't a lot of liquidity, and I was able to close both sides for a profit. I still like the underlying trade, so I'll roll back in on a down day in hopes of picking up more premium on the put.