this could be next week! Walrus is the counter to this guy. Walrus thinks we hold 302 or better and reverse up and fly. If Trigger is right, we dump hard and possibly hit 2700's.

Trying to figure out what I'm going to do....I'm moving next week so won't be concentrating on the market. Have purposely kept all my expirations to no earlier than 7/17....just let it ride or go all cash? Haven't touched anything this week and thats done well.

Stuck in traffic and had a thought, pay attention Tyson call owners

so what is to stop someone who holds, let's say a 75 call for Tyson, from selling the 70 call on Tyson same-day and forming a vertical credit spread?

what you doing is instead of being bullish on the 75, now you're turning into a bear thinking you don't hit the 70 trying to keep some of that credit , turning a loser into a winner.

Is this line of thinking crazy? I'm not saying Tyson is the proper place for this, but if you're on the wrong side of the position what's to stop you from selling something on the other side to try and turn it into a winner ?

Quite frankly , if you're still bullish you could sell 2 70s and buy a 65 and now you form the butterfly that lowers your strike to profit if you're already on the wrong side of the trade. Am I going to far down the wormhole here?

Thoughts appreciated here.
I am a 25 year pro commodity futures trader who is wanting to transition to more equities in my business. My commodities business is almost fully algorithmic now and I want to eventually apply my IP to equities and raise more capital to manage. Anyways, my personal equities portfolio has a very large count of single issues; around 125 names (including ETFs), with position sizes ranging from $500k to $5k - amzn is king. While I love this diversification (albeit technology overweighted), I am finding it hard to mange/track and execute optimal trades on so many names. Even though my equity portfolio is up double digits year to date, I can't help but that think a more concentrated approach would benefit me.
I realize much of this is individual style but any advice from other pros here about the trade-offs of diversity vs concentration would help (as I don't consider myself a pro in equities). I am particularly concerned about a current bubble in equities and the need to liquidate at some point and I of course spend large sums (based on my current bias) on portfolio protection; but nonetheless wonder if I not managing optimally given the number of names. Kind of think I may do better to concentrate on a dozen names to trade for more wA Alpha. Thanks in advance for any thoughts here.

I'm a guppy in here just looking for thoughts on GNUS

GNUS kind of already had its run and didn't manage to stay up despite all the news. I would think it's a high risk play prior to earnings which I think are on the 30th.

this has got to be the week pfe bounces. Right? Especially because guess who sold his mvis november $2 calls thurs to reload (rolleyes)

I wish AMD would breakout of the damn box already.

McInnis 03 said:

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Stuck in traffic and had a thought, pay attention Tyson call owners

so what is to stop someone who holds, let's say a 75 call for Tyson, from selling the 70 call on Tyson same-day and forming a vertical credit spread?

what you doing is instead of being bullish on the 75, now you're turning into a bear thinking you don't hit the 70 trying to keep some of that credit , turning a loser into a winner.

Is this line of thinking crazy? I'm not saying Tyson is the proper place for this, but if you're on the wrong side of the position what's to stop you from selling something on the other side to try and turn it into a winner ?

Quite frankly , if you're still bullish you could sell 2 70s and buy a 65 and now you form the butterfly that lowers your strike to profit if you're already on the wrong side of the trade. Am I going to far down the wormhole here?

---

You could sell the weeklies against the 7/17 call to try to take premium. I got the impression OA really believes in this one. What gives me trouble is how far OTM we are on TSN right now.

$30,000 Millionaire said:

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McInnis 03 said:

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Stuck in traffic and had a thought, pay attention Tyson call owners

so what is to stop someone who holds, let's say a 75 call for Tyson, from selling the 70 call on Tyson same-day and forming a vertical credit spread?

what you doing is instead of being bullish on the 75, now you're turning into a bear thinking you don't hit the 70 trying to keep some of that credit , turning a loser into a winner.

Is this line of thinking crazy? I'm not saying Tyson is the proper place for this, but if you're on the wrong side of the position what's to stop you from selling something on the other side to try and turn it into a winner ?

Quite frankly , if you're still bullish you could sell 2 70s and buy a 65 and now you form the butterfly that lowers your strike to profit if you're already on the wrong side of the trade. Am I going to far down the wormhole here?

---

You could sell the weeklies against the 7/17 call to try to take premium. I got the impression OA really believes in this one. What gives me trouble is how far OTM we are on TSN right now.

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The distance is my concern as well

Every knee shall bow and every tongue shall confess

McInnis 03 said:

---

Stuck in traffic and had a thought, pay attention Tyson call owners

so what is to stop someone who holds, let's say a 75 call for Tyson, from selling the 70 call on Tyson same-day and forming a vertical credit spread?

what you doing is instead of being bullish on the 75, now you're turning into a bear thinking you don't hit the 70 trying to keep some of that credit , turning a loser into a winner.

Is this line of thinking crazy? I'm not saying Tyson is the proper place for this, but if you're on the wrong side of the position what's to stop you from selling something on the other side to try and turn it into a winner ?

Quite frankly , if you're still bullish you could sell 2 70s and buy a 65 and now you form the butterfly that lowers your strike to profit if you're already on the wrong side of the trade. Am I going to far down the wormhole here?

---

suppose you own 10 call contracts at .35 or even .50 that is $500 risk. You sell the $70 strike for .85 and you have pocketed the difference, but instead of risking just $500 you are now risking $5,000. You are turning a bad trade into an even worse trade from a risk perspective.

I would sell the other side of the call if you want to scalp some premium back or just exit the trade altogether.

$30,000 Millionaire said:

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There is still a lot of time on TSN. I'll be nervous on 7/2 if we aren't moving.

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kind of my point. If you sell the other side of your $75 call you can take some risk off while still having a bull option. Limited upside but you have essentially scooped your 50% stop so can hold all the way to expiration.

Ragoo said:

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McInnis 03 said:

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Stuck in traffic and had a thought, pay attention Tyson call owners

so what is to stop someone who holds, let's say a 75 call for Tyson, from selling the 70 call on Tyson same-day and forming a vertical credit spread?

what you doing is instead of being bullish on the 75, now you're turning into a bear thinking you don't hit the 70 trying to keep some of that credit , turning a loser into a winner.

Is this line of thinking crazy? I'm not saying Tyson is the proper place for this, but if you're on the wrong side of the position what's to stop you from selling something on the other side to try and turn it into a winner ?

Quite frankly , if you're still bullish you could sell 2 70s and buy a 65 and now you form the butterfly that lowers your strike to profit if you're already on the wrong side of the trade. Am I going to far down the wormhole here?

---

suppose you own 10 call contracts at .35 or even .50 that is $500 risk. You sell the $70 strike for .85 and you have pocketed the difference, but instead of risking just $500 you are now risking $5,000. You are turning a bad trade into an even worse trade from a risk perspective.

I would sell the other side of the call if you want to scalp some premium back or just exit the trade altogether.

---

This is why I type! Good response, thank you!

Ragoo said:

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McInnis 03 said:

---

Stuck in traffic and had a thought, pay attention Tyson call owners

so what is to stop someone who holds, let's say a 75 call for Tyson, from selling the 70 call on Tyson same-day and forming a vertical credit spread?

what you doing is instead of being bullish on the 75, now you're turning into a bear thinking you don't hit the 70 trying to keep some of that credit , turning a loser into a winner.

Is this line of thinking crazy? I'm not saying Tyson is the proper place for this, but if you're on the wrong side of the position what's to stop you from selling something on the other side to try and turn it into a winner ?

Quite frankly , if you're still bullish you could sell 2 70s and buy a 65 and now you form the butterfly that lowers your strike to profit if you're already on the wrong side of the trade. Am I going to far down the wormhole here?

---

suppose you own 10 call contracts at .35 or even .50 that is $500 risk. You sell the $70 strike for .85 and you have pocketed the difference, but instead of risking just $500 you are now risking $5,000. You are turning a bad trade into an even worse trade from a risk perspective.

I would sell the other side of the call if you want to scalp some premium back or just exit the trade altogether.

---

But now I need to do the math on selling the 72.5c and the 62.5p and buying the 60p...

McInnis 03 said:

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Ragoo said:

---

McInnis 03 said:

---

Stuck in traffic and had a thought, pay attention Tyson call owners

so what is to stop someone who holds, let's say a 75 call for Tyson, from selling the 70 call on Tyson same-day and forming a vertical credit spread?

what you doing is instead of being bullish on the 75, now you're turning into a bear thinking you don't hit the 70 trying to keep some of that credit , turning a loser into a winner.

Is this line of thinking crazy? I'm not saying Tyson is the proper place for this, but if you're on the wrong side of the position what's to stop you from selling something on the other side to try and turn it into a winner ?

Quite frankly , if you're still bullish you could sell 2 70s and buy a 65 and now you form the butterfly that lowers your strike to profit if you're already on the wrong side of the trade. Am I going to far down the wormhole here?

---

suppose you own 10 call contracts at .35 or even .50 that is $500 risk. You sell the $70 strike for .85 and you have pocketed the difference, but instead of risking just $500 you are now risking $5,000. You are turning a bad trade into an even worse trade from a risk perspective.

I would sell the other side of the call if you want to scalp some premium back or just exit the trade altogether.

---

But now I need to do the math on selling the 72.5c and the 62.5p and buying the 60p...

---

that doesn't work either....

McInnis 03 said:

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Ragoo said:

---

McInnis 03 said:

---

Stuck in traffic and had a thought, pay attention Tyson call owners

so what is to stop someone who holds, let's say a 75 call for Tyson, from selling the 70 call on Tyson same-day and forming a vertical credit spread?

what you doing is instead of being bullish on the 75, now you're turning into a bear thinking you don't hit the 70 trying to keep some of that credit , turning a loser into a winner.

Is this line of thinking crazy? I'm not saying Tyson is the proper place for this, but if you're on the wrong side of the position what's to stop you from selling something on the other side to try and turn it into a winner ?

Quite frankly , if you're still bullish you could sell 2 70s and buy a 65 and now you form the butterfly that lowers your strike to profit if you're already on the wrong side of the trade. Am I going to far down the wormhole here?

---

suppose you own 10 call contracts at .35 or even .50 that is $500 risk. You sell the $70 strike for .85 and you have pocketed the difference, but instead of risking just $500 you are now risking $5,000. You are turning a bad trade into an even worse trade from a risk perspective.

I would sell the other side of the call if you want to scalp some premium back or just exit the trade altogether.

---

But now I need to do the math on selling the 72.5c and the 62.5p and buying the 60p...

---

nm

59 South said:

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Well guys, y'all have at it. I'm going to drink beer.

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Totally the right decision.

On deck for next week+.... getting ready to take a lot of profits from JD. Eyeing AMD. It's gonna go at some point. Need to study it more. I like swing trade shares vs options. It could dilly dally for awhile.

Anybody else have any medium term swing tickers to look at? Still in SQ as well.

I like BABA to watch.

59 South said:

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59 South said:

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Well guys, y'all have at it. I'm going to drink beer.

---

Totally the right decision.

On deck for next week+.... getting ready to take a lot of profits from JD. Eyeing AMD. It's gonna go at some point. Need to study it more. I like swing trade shares vs options. It could dilly dally for awhile.

Anybody else have any medium term swing tickers to look at? Still in SQ as well.

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Take a look at CVNA and tell me what you think. A good friend, a and sophisticated investor, recommended it to me a few weeks ago and I've been watching it. I wish I would've bought it then. The chart looks great and it's great for swing trades.

ETA: wrong emoji

That move up to 110 and then basing around there would have been a nice entry .

Thanks! Seems my plays always move against me immediately and rarely recover. Perhaps my timelines are faulty.

This is believing in your DD. Marc shorted WDI immensely in the 60s, 70s, and 80s. Thursday it dropped to 30s and he did it again

Every knee shall bow and every tongue shall confess