OA with another great call re: nflx puts...I bought a little early last week with the 350 puts at $3.28 cost for 9/7 expiration and thought they were dead, but I stayed the course. With the big rug pull today and I sold half at $10 and holding the other half in case the chart loses $340 tomorrow.

This thread is epic.

aggiehunter3 said:

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This thread is epic.

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I've learned so much since I started following this thread. Especially regarding options and analysis

Wondering what an 8-k means for stock prices. Any thoughts?

Depends on the company. It's basically a press release of a significant event. Could be bankruptcy, could be new chairperson, could be stock offering, etc..

Right. I think it is good news, but I haven't been able to sit down and read through it. Here is the beginning, from PNC...

On September 5, 2018, The PNC Financial Services Group, Inc. (the "Corporation") completed the public offer and sale of $500,000,000 aggregate principal amount of its 3.250% Senior Notes due September 3, 2021 (the "Notes"). The Notes were sold pursuant to an Underwriting Agreement, dated August 30, 2018 (the "Underwriting Agreement"), entered into by the Corporation, Morgan Stanley & Co. LLC and PNC Capital Markets LLC. The Underwriting Agreement is attached to this Current Report on Form 8-K as Exhibit 1.1 and is incorporated into this Item 8.01 by reference.

The Notes were issued under an Indenture, dated September 6, 2012 (the "Indenture"), between the Corporation and The Bank of New York Mellon, as trustee.

My worry is that this might dilute shares? Again, I haven't been able to sit down and do any DD.

aggiehunter3 said:

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OA with another great call re: nflx puts...I bought a little early last week with the 350 puts at $3.28 cost for 9/7 expiration and thought they were dead, but I stayed the course. With the big rug pull today and I sold half at $10 and holding the other half in case the chart loses $340 tomorrow.

This thread is epic.

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$355 call option expiring next Friday costing $0.85 ($85) on entry sold for $13.12 ($1312.00). Now that's an ROI I can live with.

As usual, you are right on the money it looks like. NFLX up 2+% in early trading

OA, what's your take on MU?

Prognightmare said:

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OA, what's your take on MU?

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Approaching $46 last wave support. MACD crossed negative yesterday so technical would have been short or Puts. Really hard to say but if anyone was looking to buy for a trade then why not sell the weekly $47 for $1 giving either effective entry at $46 or make a quick buck if it recovers above $47 by close tomorrow.

thanks

OA, still think PNC can recover for the 9/21 150C?

Looks like the Nasdaq want's to come back down to 7800.

UpstateAg said:

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OA, still think PNC can recover for the 9/21 150C?

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I think so. Its holding tough as s&p likely completes that gap fill. Will give way as it does.

On S&P. Yesterday lower high and lower low. Ignore the intraday action upwards later in the day as that gap is key.

And PNC and all options/stocks better hope this gap fill begins a wave back up because that next gap down around 2827 would not be fun for anyone except shorts.

NFLX jumping +$12 is more of a dead cat bounce IMO as I entered Puts out another week. We'll see in that as I'm trading less than 5% of the massive gains from yesterday.

Also, anyone who entered JD on that volume signal up over $1 should have already placed some strategies. Mine was selling all the buys from that entry and buying a split between March $31 calls and $25 Puts with 50% of the profits. If nothing happens with CEO then $31 should be no issue.

If it lingers or worse official allegations are made then hold on to your butts.

That post was for trading only. I didn't sell my net free shares. HOWEVER, I did include enough $25 Puts out to March '19.

You have to be very deliberate and have your strategies thought out. If you find yourself scrambling looking at the screen you likely have already lost. The stock was up $1 premarket. Since that held into the open it was almost certain a further weak short holder group would cover shooting the shares higher.

That was my plan and I sold into the big volume at $27.60-$27.67. I then immediately had my Puts placed and was risking further upside by counting on a pull back from such a large initial pop. It happened and I got my calls average 18% cheaper than where they topped out.

Plan and execute.

SWN under $5.

Youbsee PNC finally give in some from down 30+ cents to down 54 cents as we approach gap fill.

If gap fills (and we want it to for longs) then question becomes that rubberband mark. It usually overruns the gap down so all eyes will be on volume looking for the "v". Hopefully today but maybe not.

NFLX losing most of its $12 pop. I am selling 25% of new PUTS as markets filk gaps just in case. Right now with NFLX up onky $2 78

Ok we had a gap fill that extended down to 2871 area. 2 tails of support gave a bounce but that would be initial bottom speculators.

If new low comes in then not done.

Markets selling off stalwarts AMZN, GOOG, AAPL so clearing out ill prepared traders.

Not done yet...

I just bought MU calls weekly $45

$5 Move on AMZN upward in less than 2 minutes

check out MCHP

Prognightmare said:

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check out MCHP

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Bought an array across a lot things on hopeful bottom. So MU moved from $44.50 to $45.33. I repeat this strategy across them all.

Entered a wad of calls and just sold 50%

Options on house money into tomorrow now.

Here is how chart set up for decision to enter. We had that potential bottom with lots of red volume but couldn't continue lower. That caught my attention. Then you see each successive down move after ward was higher and finally the MACD I use gave a green arrow. I don't necessarily have to wait for the actual green arrow because you can see it coming.

So I entered a ton of options (which you can see on the options minute chart, if you have access. I was 2/3 of all those options and posted on here for the the ride. The exit decision is equally as important. Never get greedy, especially on options. You get a big move into the money you take it. That was an 8 minute trade.

nice

Need to see 2877 taken out on volume for good chance this reverses

Here is DOCU. When I make the decision to buy I have the array function buy across multiple stocks. Patterns never identical but volume and MACD right there.

oldarmy1 said:

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Need to see 2877 taken out on volume for good chance this reverses

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Rejected 1st attempt.

oldarmy1 said:

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Need to see 2877 taken out on volume for good chance this reverses

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Rejected 1st attempt.

saw that

Had taken a chance on DBX shares as it appeared they bottomed around ~26.75, with 26.5 being the line in the sand. My stop on that trade triggered yesterday, but I'd be sure to be all out today. That thing is heading for 22s.

Luckily I'm green for the week by anticipation of rotation in some industrial stocks....played the pop in BA, HON and UTX that worked in my favor. Clearing out positions when markets were making highs also played into my favor. 2 - 3 months ago I would have held onto all positions trying to earn more with greed, and my account may have been ripped apart with this downturn. Now I'm sitting in ~80% cash just waiting for the opportunity. Happy with my progress but just shows there is a lot to learn more than just picking the right stock to play and you have to continue to learn and adjust your strategy.

I also don't get MU. This is not an overbought stock with a high valuation. Want to load up shares at 45 here, but cautious as this is the 2nd time we are here in just a couple months. Is this weakness related to China?

Ranger222 said:

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I also don't get MU. This is not an overbought stock with a high valuation. Want to load up shares at 45 here, but cautious as this is the 2nd time we are here in just a couple months. Is this weakness related to China?

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It's related to this and a firm lowered the target price to $75 from $100. IMO, it's a huge overreaction, but I do see the Nasdaq wanting to go touch 7800.

https://www.marke****ch.com/story/micron-stock-falls-after-company-says-nand-pricing-fell-in-third-quarter-2018-09-06?siteid=bigcharts&dist=bigcharts

The filter blocks: MarkeT WATch in the link.