Trumps feed is full of infrastructure grants. CLF chart looks good. Will enter tomorrow.

Every knee shall bow and every tongue shall confess

TxAG#2011 said:

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Trumps feed is full of infrastructure grants. CLF chart looks good. Will enter tomorrow.

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Futures are flat

IrishTxAggie said:

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Mainly just keeping my eye on it with options flow. I have a price alert set for $226 after today. If it gets through there, I think $231 is on deck on short order

I'm in the 7/17 $240C with a decent size position already

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This is why I'm watching $226 area and it is a big number. Over 41K offered (~$10MM). If those get taken out, this thing has legs.

ETA:
Through $226. Starting to take some of the $226.20. Takes out $226.30 an then she's off to the races

IrishTxAggie said:

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IrishTxAggie said:

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Mainly just keeping my eye on it with options flow. I have a price alert set for $226 after today. If it gets through there, I think $231 is on deck on short order

I'm in the 7/17 $240C with a decent size position already

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This is why I'm watching $226 area and it is a big number. Over 41K offered (~$10MM). If those get taken out, this thing has legs.

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Haha, they're going around the roadblock in premarket

Slappy007 said:

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MOMO over 20 premarket. Maybe that 6/19 20C option isn't dead.

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I dumped mine the other day for a nice loss... you are welcome

Every knee shall bow and every tongue shall confess

Didn't know what to think about ROKU so I pinned a sub $1.00 fly on 127 and another on 132. One of those working will cancel the other out 2x.

Other pinned fly yesterday was SHOP 885.....woo baby.....that one could pay back really nice.

While the attractive part of butterflies is the potential 10x (or more) max situation, the reality is that turning it for a a 3x-5x is the really pretty second place contender.

And last night I spent time studying the purchasing and selling of Iron Condors so this sideways BS (and potential large unknown swings) that we encounter sometimes may become something I can deal with.

Slappy007 said:

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MOMO over 20 premarket. Maybe that 6/19 20C option isn't dead.

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Let's go!!

Every knee shall bow and every tongue shall confess

An someone explain the run up on UONE? Seems like a prime candidate to short.

OverSeas AG said:

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So when one says they "pinned" something. What does that mean exactly.

I understand that market makers and big institutions are trying to pin a price so options expire worthless. But how does an individual do it (other than our resident whales who have recourse to ba-jillions of $s)?

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So with a long (debit) butterfly, you're buying two long strikes and selling two short strikes. The short strikes is where you are "pinning" the butterfly, meaning if you pin at $100 and the equity closes exactly at $100 on day of expiration, you obtain max profit. "Pinning" in regards to a fly means that is where max profit is achieved. Your profit varies as you approach the long strikes you purchased.

Ie:
Buy a 110 call (or put), sell two 100 calls (or puts), buy a 90 call (or put, the type of options needs to be the same across the board for this exercise). This is a a "10 wide fly" or at least how I'll refer to it, and it's where you obtain max profit at 100 and can profit still as you approach the outer strikes.

When you break it down, you're really buying and selling a vertical spread (each wing is a spread, one debit, one credit) which is why the cost to purchase a fly can be low with high potential returns, but the probability of max return is low. Probability of profit (non-max) can be high though if your sense of direction and purchase execution goes well.

anyone getting in on the ipos today? (FMTX, GTH, PROG, RPTX)

When you buy the bf, do you buy/sell them individually or do you use a bf option and enter all of the buy/sell points? Also, how do you close out of the bf? Assuming you just do a sell to close or something?

I don't have a bf option, but I can do the vertical call/put spreads.

Touchless said:

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When you buy the bf, do you buy/sell them individually or do you use a bf option and enter all of the buy/sell points? Also, how do you close out of the bf? Assuming you just do a sell to close or something?

I don't have a bf option, but I can do the vertical call/put spreads.

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I can do it manually in the TDA web site but I prefer to use thinkorswim as it has a butterfly option that does it all for you, you just pick your strikes. I can buy to open and sell to close very easily. They can take awhile to move though so I set a buy/sell price and walkaway.

McInnis 03 said:

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Didn't know what to think about ROKU so I pinned a sub $1.00 fly on 127 and another on 132. One of those working will cancel the other out 2x.

Other pinned fly yesterday was SHOP 885.....woo baby.....that one could pay back really nice.

While the attractive part of butterflies is the potential 10x (or more) max situation, the reality is that turning it for a a 3x-5x is the really pretty second place contender.

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If I don't hit my 850 fly, I'll pray for your 885

Sam in the simpler room sees ROKU going to all time highs if it can close over 131.35, which is a fib level. Market is strong pre market. Since its quad witching, it will be interesting to see how volatile it is today

Slappy007 said:

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MOMO over 20 premarket. Maybe that 6/19 20C option isn't dead.

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Welp

Just a reminder for anyone else that has been running success on opening gap fade plays.....today's a no play for me despite volume saying it's OK. OPEX Friday is a no-play due to unreliable gap filling behavior.

Irish - what service are you using to get the Action screenshot you posted for BABA? Thanks.

DDP

astroaggie13 said:

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Slappy007 said:

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MOMO over 20 premarket. Maybe that 6/19 20C option isn't dead.

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Welp

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Be not afraid and have patience. That big ass 30 min red candle has now been mostly rejected.

DDP

Fidelity Active Trader Pro

IrishTxAggie said:

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Fidelity Active Trader Pro

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You've got your BABA entry on deck

12thMan86 said:

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Sam in the simpler room sees ROKU going to all time highs if it can close over 131.35, which is a fib level. Market is strong pre market. Since its quad witching, it will be interesting to see how volatile it is today

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Good to see a 'pro' corroborating my technical read and drum I've been beating to death here. Although I mostly ignore fib levels and go with a more simplified approach.

Thank you for posting BILI yesterday, I grabbed a few calls.

Anyone hop in those BILI calls I posted yesterday?

ROKU hit it's daily pivot heading down, but bounced back up. R1 is at 133.9, really big space between P and R1 today. Shoudl give it some room to play.

Premium is literally insane right now. I have a handful of things expiring next week, and the stock is up while the option is down 30%