Lets see if the PPP trimmed these numbers some.

This will play big today. Japan's healthcare system is pretty damn good. The ES_F popped as this tweet went out

Carlo4 said:

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I think this is why futures are so high. CDC guidelines have been completely scrapped for how to re-open country. Basically, anyone can do anything if approved on a state and local level.

https://apnews.com/7a00d5fba3249e573d2ead4bd323a4d4

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That's the way it should've been from the start

I've got the PTON 39c expiring tomorrow. What's everyone thinking for exit? Sell at open since premium will disappear quickly with the expiry window? Sell half and let 'er ride for the day?

TheCellarDoor said:

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I've got the PTON 39c expiring tomorrow. What's everyone thinking for exit? Sell at open since premium will disappear quickly with the expiry window? Sell half and let 'er ride for the day?

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Unless you think a LPSN post earnings run is in play the opening pop capturing sleeping premium drop buyers would be the way to go. Sell 75% and hold 25% with a nice profit and net free ride if you think it can rally.

What does Roku do today, tomorrow And beyond with earnings tonight?

oldarmy1 said:

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TheCellarDoor said:

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I've got the PTON 39c expiring tomorrow. What's everyone thinking for exit? Sell at open since premium will disappear quickly with the expiry window? Sell half and let 'er ride for the day?

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Unless you think a LPSN post earnings run is in play the opening pop capturing sleeping premium drop buyers would be the way to go. Sell 75% and hold 25% with a nice profit and net free ride if you think it can rally.

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Any chance we see a short squeeze drive it higher when it opens?

Unemployment up another 3.17 million. Trend slowing. Markets not completely spooked so I assume we continue to move higher.

Boat Shoes said:

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oldarmy1 said:

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TheCellarDoor said:

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I've got the PTON 39c expiring tomorrow. What's everyone thinking for exit? Sell at open since premium will disappear quickly with the expiry window? Sell half and let 'er ride for the day?

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Unless you think a LPSN post earnings run is in play the opening pop capturing sleeping premium drop buyers would be the way to go. Sell 75% and hold 25% with a nice profit and net free ride if you think it can rally.

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Any chance we see a short squeeze drive it higher when it opens?

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Anything can happen. It's been moving upward already into earnings so some shorts could have covered. It's all about risk/reward when you have a nice win on the platter with options that expire working against you.

Woke up this morning with a notification on my phone saying "PENN missed expectations by 79%". Checked and it didn't plummet like normal.

All the degenerates that are invested in PENN must still be asleep from gambling all night...

oldarmy1 said:

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I shorted some SPY at $288.30 against those $295 calls. I have 1000 calls representing 100000 shares at $9k investment. Assuming an opening around here would get $50-$60k ROI on those. If we breakout above $290 I can cover but if markets fail on jobs report I have 1000 shares shorted. Can't lose with getting early futures within range of breakout.

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Ok so when you say you shorted the SPY at 288.30 against the 295 calls, does that mean essentially you are limiting your downside at the cost expense of 288.30 minus 295 (as your total loss). This is in addition to buying the $9K in SPY calls, as theorectically, as they can have premium reduced to zero.

Just trying to learn how you use options, cause I think a lot of us (myself included) usually are playing naked options, while others have it figured out while owning the underlying. Knot on every trade but most.

jtmoney03 said:

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Unemployment up another 3.17 million. Trend slowing. Markets not completely spooked so I assume we continue to move higher.

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It dipped .1%, pauses, and is now rising again.

Rice and Fries said:

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oldarmy1 said:

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I shorted some SPY at $288.30 against those $295 calls. I have 1000 calls representing 100000 shares at $9k investment. Assuming an opening around here would get $50-$60k ROI on those. If we breakout above $290 I can cover but if markets fail on jobs report I have 1000 shares shorted. Can't lose with getting early futures within range of breakout.

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Ok so when you say you shorted the SPY at 288.30 against the 295 calls, does that mean essentially you are limiting your downside at the cost expense of 288.30 minus 295 (as your total loss). This is in addition to buying the $9K in SPY calls, as theorectically, as they can have premium reduced to zero.

Just trying to learn how you use options, cause I think a lot of us (myself included) usually are playing naked options, while others have it figured out while owning the underlying. Knot on every trade but most.

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I want a breakout today to send those options to the moon. That breakout is above $289 so I shorted in case it doesn't materialize. Every 1cent premium = $1000 on 1000 call options, so any upward movement would offset loss on a short stock requiring $1 move upward to lose $1000. So $299.30 = loss of $1k on 1000 shares short but options would move likely 10-15 cents on same move making 10-15k. If we get no upward movement then markets won't be able to hold too long near resistance. This is me using the nature of market makers against themselves.

Who wants to have some fun with TSLA today?!

At 2900 I moved back to 35% bonds, and I'm going to hold here for a while. This news is severely testing my FOMO.

Exsurge Domine said:

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IrishTxAggie said:

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Congrats to you PTON holders. Looks like you'll get paod

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Something will happen and it will crash in the next few hours

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looking good 38 mins out.

Exsurge Domine said:

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So guys just to check my math, if the Delta of PTON is 1.0 it should rise perfectly with regard to the stock price, no? So if it is 7 points up in the morning and it closes at 3.22, it should be worth 10.22 tomorrow?

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Technically true. But a) only very deep ITM options have a delta of 1.0, you can tell which ones will have delta of 1.0 b/c they will essentially have zero time value; i.e. stock is at $100, a $50 call is worth about $50.01 so, $0.01 of time value. If you're option has time value, it does not have a delta of 1.0 and b) delta changes with moves in the stock (gamma) and with time. Unless you had an option already deep ITM prior to a move in the stock, even if as a result of the move, the option delta becomes 1.0, your option will not gain dollar for dollar; say you have an ATM call (delta approx 0.5) that you bought at 2:59 pm Wednesday. After earnings, stock jumps $10 and is set to open Thursday with that big gain. Well, at $10 ITM, let's say your option is deep ITM and has a delta near 1.0. But note that it didn't have a delta of 1.0, but rather 0.5 when the stock was $10 lower. So, you might say, your option gained $0.50 in value from the first $1 move of the stock; and $0.55 for second dollar move, and $0.60 for the third dollar move, etc. on average, your option will gain around $6-$7 in such a situation (since even at $10, and deep ITM, delta probably only reaches 0.9 to 0.95).

For those in the cheap SPY calls the opening price if SPY stays around $287.75 will be $0.38

TNXP

Anyone got an idea on Roku? Are we pretty much at our limit or hold shares thru earnings

zwhag2010 said:

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Anyone got an idea on Roku? Are we pretty much at our limit or hold shares thru earnings

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I'm going to sell 25% covered calls but use nearly all of that premium to turn around and buy $128 Puts for all shares. Obviously I'm hoping for a solar flare to $150 but will effectively eliminate risk with that strategy.

For anyone wanting their investment back on the SPY calls right now you would need to sell ~42%. I'm getting my money back no questions asked, with many thanks to poster who posted the large options purchase.

12thMan86 said:

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morning gents! Ready to feed the ducks on all the earning plays I had yesterday. PTON, MRNA(damn), PPYL! Bought low cost butterfly's on all and should cash in for anywhere from 2x to 7x in 24 hrs.

Carry on!

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Time for me to do more research on butterflies.

i signed up for a month of the duck. he made me enough to give him a month.

SQ why not?

it's time to dump that DIS 5/8 put @95...

That was on the Manic thread unfortunately. I missed it, but glad y'all are making out on it and hopefully it runs.

oldarmy1 said:

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Boat Shoes said:

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oldarmy1 said:

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TheCellarDoor said:

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I've got the PTON 39c expiring tomorrow. What's everyone thinking for exit? Sell at open since premium will disappear quickly with the expiry window? Sell half and let 'er ride for the day?

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Unless you think a LPSN post earnings run is in play the opening pop capturing sleeping premium drop buyers would be the way to go. Sell 75% and hold 25% with a nice profit and net free ride if you think it can rally.

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Any chance we see a short squeeze drive it higher when it opens?

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Anything can happen. It's been moving upward already into earnings so some shorts could have covered. It's all about risk/reward when you have a nice win on the platter with options that expire working against you.

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Sold 75% of my $40 5/8 Calls

Holding all my $41 5/15 Calls

RUBI $6.75 and I'm kicking myself for taking a run after market yesterday and missing the idiots selling it down.