Boat Shoes said:

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TecRecAg said:

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19.98...

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Typically when I imagine a worst possible outcome....

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$20.00 on the dot.

Anyone liking PLAN around this level? Has a big gap to fill.

aggiedaniel06 said:

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Yes, AAPL is in frothy territory. Just melting up. I can see a violent pullback to 325.

Btw, I have tomorrow as a red day.

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Most predictable trading day in a long time.

Vol supression in the morning followed by breakout.
SPX closing right at Max pain.

Monday and Tuesday should be explosive.

aggiedaniel06 said:

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aggiedaniel06 said:

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Yes, AAPL is in frothy territory. Just melting up. I can see a violent pullback to 325.

Btw, I have tomorrow as a red day.

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Most predictable trading day in a long time.

Vol supression in the morning followed by breakout.
SPX closing right at Max pain.

Monday and Tuesday should be explosive.

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Up or down? Or just one way or the other, but explosive.

Option now ceases to exist. Now, wipe that sweat off and go drink a beer.

f me yeah that wouldve been real bad.

TecRecAg said:

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Option now ceases to exist. Now, wipe that sweat off and go drink a beer.

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Can I have more than one?

OPEX close is so much crazy. I watched Apple for the last minute and that candle kept ticking above and below 350.00 until someone hit the dump button with like 10 seconds left. It doesn't show on the volume because of the major transactions just after close, but it was crazy.

topher06 said:

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aggiedaniel06 said:

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aggiedaniel06 said:

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Yes, AAPL is in frothy territory. Just melting up. I can see a violent pullback to 325.

Btw, I have tomorrow as a red day.

---

Most predictable trading day in a long time.

Vol supression in the morning followed by breakout.
SPX closing right at Max pain.

Monday and Tuesday should be explosive.

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Up or down? Or just one way or the other, but explosive.

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Same question. I'm debating to unload or add to TVIX after hours.

topher06 said:

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aggiedaniel06 said:

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aggiedaniel06 said:

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Yes, AAPL is in frothy territory. Just melting up. I can see a violent pullback to 325.

Btw, I have tomorrow as a red day.

---

Most predictable trading day in a long time.

Vol supression in the morning followed by breakout.
SPX closing right at Max pain.

Monday and Tuesday should be explosive.

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Up or down? Or just one way or the other, but explosive.

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The S&P closed ever so slightly under the 5day. Monday will set the tone.

0708aggie said:

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f me yeah that wouldve been real bad.

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It's fine if you get assigned. You can turn around and sell them on Monday. Heck, if it jumps over the weekend you could have made profit. If your buying power went to the negatives you have 3 days to pay it. Thus, selling the shares would make you even.

At least that's my understanding. I've never been assigned so someone fill me in...

i knew that, just wouldve been a 100k purchase.

Very valuable lesson. If you have to step away dont have options on quad witching. Expensive lesson.

Ok then yes you would have needed a lot of beer.

It could go either way. MM have literally been muzzling the VIX for the last 3 days to control this Max Pain close.

I was watching RCL closely to see what it does today. Back in February, I rode it to the ground with puts. Today, it did the same thing it did on Feb 21. If my prediction is right, it should gap down on Monday.

Just RCL or the market?

Because there were a **** ton of ITM calls for cruiseliners for next week. The CCL $17C were the ones that stuck out to me

Rookie question. 1600 shares of SPY, write weekly covered calls ITM? Do this one a week, whether I get assigned or not? What is the risk, taxes or assignment fees? This would make several thousands a week. It has to be to good to be true, right?

The risk is that you give up the upside, but if you're willing to do that then go for it. Yes, you would have to pay taxes when you get assigned (if you get assigned). I'm not going to say good luck cause that would require the market to drop, but I hope you make money.

aggiedaniel06 said:

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It could go either way. MM have literally been muzzling the VIX for the last 3 days to control this Max Pain close.

I was watching RCL closely to see what it does today. Back in February, I rode it to the ground with puts. Today, it did the same thing it did on Feb 21. If my prediction is right, it should gap down on Monday.

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Well if AH so far is any indication, the direction is down. Glad I didn't dump my minimal hedges I have for 7/17, cause it looks like my other stocks will be hurting.

EDIT: Understand that the first 30 minutes of AH are meaningless over a weekend, just idle commentary.

IrishTxAggie said:

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Just RCL or the market?

Because there were a **** ton of ITM calls for cruiseliners for next week. The CCL $17C were the ones that stuck out to me

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If you dig a little deeper on those and check out the time and sales, you'll see that not one of those were in blocks bigger than 100.

In fact, the only block bigger than 100, was a 320 block sold to close at 13:53:01 ET at bid $1.7.

The ones you are referring to in the morning at 09:51 and 10:04, look to be sold to open covered calls. You can tell by the fact that all the volume is at bid and probably robinhooders buying them, as I see the asks come in small quantities.

The biggest buys for the day were the 2000 block 7/17 17/12.5 put spread and the 1471 block of 7/17 15 puts.

Gotcha. I didn't pay that much attention to them. There were just so many that it stuck out

Look at those MM bastages, they muzzle the VIX all week, crushing premiums and then allow the dump.

This week for example I could sell 16 6/26 spy 306c for about 5.50. That would be about $8,800 in premium. Do that 48 times a year, that would be over 400k per year. That seems too easy, I must be missing something. Thank you for the input, I love this forum.

I have an algo that bothers me all day with UOA. Cruises were on my radar today, so I was paying close attention to them. Mine didn't pop the calls you are referring to, but RCL had heavy put volume. 3:1 ratio

Glitch said:

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This week for example I could sell 16 6/26 spy 306c for about 5.50. That would be about $8,800 in premium. Do that 48 times a year, that would be over 400k per year. That seems too easy, I must be missing something. Thank you for the input, I love this forum.

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Selling ITM calls, you should expect to get assigned out. If you don't get assigned out, you are losing some money due to the price of SPY falling.

Assuming you are pricing at close ($308.6). You collect the 5.50/share premium. However, you are either losing those shares on 6/26, or those shares have dropped at least $2.60 in the meantime. So your gain is really only $2.90/share. That might still be worth it to you, but selling an ITM call isn't going to be a repeatable exercise and SPY could drop more than $5.50/share before 6/26.

Thanks, I see it now.

aggiedaniel06 said:

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Look at those MM bastages, they muzzle the VIX all week, crushing premiums and then allow the dump.

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You weren't kidding. Immediately prior to close, we get a small collapse. Immediately after close, we are down another 1% on no news. The fix is in, just have to try to figure out how to ride with the big boys (which generally means selling premium, difficult for a small investor to do).

Robinhooders must be getting destroyed today (I mean their accounts an hour ago and now their BAC).

Glitch said:

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This week for example I could sell 16 6/26 spy 306c for about 5.50. That would be about $8,800 in premium. Do that 48 times a year, that would be over 400k per year. That seems too easy, I must be missing something. Thank you for the input, I love this forum.

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you are losing money with SPY over 311.50 to the tune of $1,600 for every $1 move.