Have heard that approach too. "You can drink but only under my roof. " I see benefits of both. If you forbid it does the kid go wild in college?

CrazyRichAggie said:

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Have heard that approach too. "You can drink but only under my roof. " I see benefits of both. If you forbid it does the kid go wild in college?

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I had some friends who went crazy in college after a strict upbringing, but others who were wild in high school, but settle down when they were on their own. I guess it depends on the person. It also helped that my parents walked the walk. I never saw them drink so I knew they were not asking me to do something they didn't do. It probably also helped that I was too poor in college to buy beer or any other alcohol to drink. I did splurge occasionally and buy cheap beer to put in my bisquick to make great biscuits.

FJ43 said:

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You just gave me an idea.

I don't drink much at all and especially not whiskey or bourbon. But...I do have a little Woodford Reserve Double Oaked in the house.

Might just add a little to a glass and chart some more.

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Hit me! that is mighty good swill. Wish I had some right now.

$30,000 Millionaire said:

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FJ43 said:

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McInnis 03 said:

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$30,000 Millionaire said:

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this is fantastic analysis.

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We will bust those lines because everyone expects rejection

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Stop and let us be right for at least when the market is closed.

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I agree with McInnis. We're going to 5000. probably without anything more than an occasional 1% down day, met with a 1%+ up day the following day.

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December 31 495/500 spreads are .25 for a 20x. Why not, right?

Red Pear Luke said:

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jimmo said:

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yall loading up hedges up here?
(maybe you're already loaded up?)

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Yes - Aug 20 $405 Puts under $2.30

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thanks
got me some

jimmo said:

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Red Pear Luke said:

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jimmo said:

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yall loading up hedges up here?
(maybe you're already loaded up?)

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Yes - Aug 20 $405 Puts under $2.30

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thanks
got me some

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I had my sons buy Aug 420s today for round 2. They bought some last week then sold them yesterday and rebought today at the highs.

405s I think is what OA was buying. He's got a better bead on it than I do for sure.

FJ43 said:

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jimmo said:

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Red Pear Luke said:

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jimmo said:

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yall loading up hedges up here?
(maybe you're already loaded up?)

---

Yes - Aug 20 $405 Puts under $2.30

---

thanks
got me some

---

I had my sons buy Aug 420s today for round 2. They bought some last week then sold them yesterday and rebought today at the highs.

405s I think is what OA was buying. He's got a better bead on it than I do for sure.

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If you think it's going to 400 why not buy puts at today's close? Why buy down at where you think it'll be?

AG 2000' said:

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FJ43 said:

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jimmo said:

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Red Pear Luke said:

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jimmo said:

---

yall loading up hedges up here?
(maybe you're already loaded up?)

---

Yes - Aug 20 $405 Puts under $2.30

---

thanks
got me some

---

I had my sons buy Aug 420s today for round 2. They bought some last week then sold them yesterday and rebought today at the highs.

405s I think is what OA was buying. He's got a better bead on it than I do for sure.

---

If you think it's going to 400 why not buy puts at today's close? Why buy down at where you think it'll be?

---

They did buy puts close to today's high prior to close when premium was lower. Puts are bought at tops and calls at bottoms. Conversely puts are sold at bottoms and calls are sold at tops.

Each time we keep setting new ATHs I've upped the strike a bit. Finally just went to 420s. If we have a good pullback I don't know if we get to 400 or not. But 420 was an SR level I identified and 5% pullback seemed reasonable should it happen other than some major correction.

BlueTaze said:

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59 South said:

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I'm highly skeptical any of this has anything to do with covid concerns. Just an overheated market doing its thing to keep people honest. It was always going to happen but trying to time is difficult to say the least. 21 ema tests seem the most likely scenario but who knows.

The UK (delta ground zero now) has basically said ALL restrictions are done July 19 including masks and distancing, etc. no matter how high cases rise. A drastic shift in policy for sure. Did anyone not watch the England-Denmark game yesterday at Wembley? Somehow they've gone from zero fans and all staff fully masked to almost full capacity with no masks in less than 2 months. And I'm loving every minute of it.

TLDR covid is over and not causing markets disruption anymore.

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I also saw an interesting take the other day on put side vol, about so much hedging in market that it doesn't really work. And as those short instruments decay, they must be covered adding one last melt up before the rug is pulled after that capitulation. Seems like a lot of that hedging we see in SKEW is tied to Fed taper speculation....but in the end so much anticipation may not lead to as big a sell off as expected.

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I don't really understand most of this, but i think I'm going to stop trying to be cute with vix/spxs call hedges and just take bigger cash positions, maybe average into some gold and silver equity positions. The exits on the options hedges seem pretty narrow and i don't think I'm watching close enough to catch them.

FJ43 said:

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AG 2000' said:

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FJ43 said:

---

jimmo said:

---

Red Pear Luke said:

---

jimmo said:

---

yall loading up hedges up here?
(maybe you're already loaded up?)

---

Yes - Aug 20 $405 Puts under $2.30

---

thanks
got me some

---

I had my sons buy Aug 420s today for round 2. They bought some last week then sold them yesterday and rebought today at the highs.

405s I think is what OA was buying. He's got a better bead on it than I do for sure.

---

If you think it's going to 400 why not buy puts at today's close? Why buy down at where you think it'll be?

---

They did buy puts close to today's high prior to close when premium was lower. Puts are bought at tops and calls at bottoms. Conversely puts are sold at bottoms and calls are sold at tops.

Each time we keep setting new ATHs I've upped the strike a bit. Finally just went to 420s. If we have a good pullback I don't know if we get to 400 or not. But 420 was an SR level I identified and 5% pullback seemed reasonable should it happen other than some major correction.

---

Thanks. Wasn't sure if I was missing something drastic on options. I've got August puts layered up from 420 to 435. Felt like I was missing something when people were throwing around buying the 400s.

AG 2000' said:

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FJ43 said:

---

AG 2000' said:

---

FJ43 said:

---

jimmo said:

---

Red Pear Luke said:

---

jimmo said:

---

yall loading up hedges up here?
(maybe you're already loaded up?)

---

Yes - Aug 20 $405 Puts under $2.30

---

thanks
got me some

---

I had my sons buy Aug 420s today for round 2. They bought some last week then sold them yesterday and rebought today at the highs.

405s I think is what OA was buying. He's got a better bead on it than I do for sure.

---

If you think it's going to 400 why not buy puts at today's close? Why buy down at where you think it'll be?

---

They did buy puts close to today's high prior to close when premium was lower. Puts are bought at tops and calls at bottoms. Conversely puts are sold at bottoms and calls are sold at tops.

Each time we keep setting new ATHs I've upped the strike a bit. Finally just went to 420s. If we have a good pullback I don't know if we get to 400 or not. But 420 was an SR level I identified and 5% pullback seemed reasonable should it happen other than some major correction.

---

Thanks. Wasn't sure if I was missing something drastic on options. I've got August puts layered up from 420 to 435. Felt like I was missing something when people were throwing around buying the 400s.

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If me I would be trading these out periodically when you can. Sell for gains on slight pullbacks and scale in on uptrend at tops. Roll them out or other plays. No reason to watch them decay. Assuming you have time to manage them periodically.

When, not so much if IMO, we have a larger correction a larger cash position is where I hope to be positioned than any hedges. I view hedges as partial insurance.

AG 2000' said:

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oldarmy1 - any chance we can get that options class video from you? I have been getting my butt kicked on options plays and need to reset on those.

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This!

BucketofBalls99 said:

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AG 2000' said:

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oldarmy1 - any chance we can get that options class video from you? I have been getting my butt kicked on options plays and need to reset on those.

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This!

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I just to put an * on this. If I just set money aside and followed the FJ lottos I'd be retired. But I'd like to dabble in other stuff too and getting my ass beat. Need the oldarmy1 sermon.

Is someone willing to chart/TA on ISIG this weekend? Looks like may be coming out of cup formation. A handle away from a rocket? Buzz on Twitter and elsewhere and apparently some insiders just bought shares?

Has low float and outstanding shares but is not heavily shorted. Is this one gonna fly with next month's earnings report?

Thanks in advance.

I barely know my ahole from my elbow, so take this with a grain of salt, but if I understand your question correctly, why not buy 435 puts instead of 405 puts if you think SPY is headed for 400, and I think the answer is that the premium on 405 is lower so if you're wrong, you don't lose as much. If you're right you don't gain as much either so it's all back to the age old risk/reward calculation and personal tolerance.

BaylorSpineGuy said:

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Is someone willing to chart/TA on ISIG this weekend? Looks like may be coming out of cup formation. A handle away from a rocket? Buzz on Twitter and elsewhere and apparently some insiders just bought shares?

Has low float and outstanding shares but is not heavily shorted. Is this one gonna fly with next month's earnings report?

Thanks in advance.

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I'll take a shot for you later today unless someone cranks one out before then.

Earnings plays are always risky to me as a trade. But this might the one that goes to the moon and doesn't come back below where it began.

BaylorSpineGuy said:

---

Is someone willing to chart/TA on ISIG this weekend? Looks like may be coming out of cup formation. A handle away from a rocket? Buzz on Twitter and elsewhere and apparently some insiders just bought shares?

Has low float and outstanding shares but is not heavily shorted. Is this one gonna fly with next month's earnings report?

Thanks in advance.

---

Morning

I couldn't wait until later.....sheesh.

First things I noticed was related to volume. Lack of it on a daily basis then the volume spikes. Biggest volume since 90s was since Oct 20 which had me looking. That volume is there for something.

To get a better view I went back to the early 90s of what the heck this has done. Relevant? Dunno....but it did show me the lower end.

• Looks like a ballpark base is around $5 then $4.17ish. That would have been the entry IMO
• More recent range has been between $5-$12ish and close to top at the moment.
• Since 1999 has a history of going to its home of $5
• Approaching upper Oct 20 trendline.
• Has irrational spikes that are not supported. Would be great to be in on one then exit but have no idea how to 'time' that.
• IMO this will see $6, maybe $5 or even $4.17 again without a catalyst.

Short/Mid term or as a trade for me I look for something else as the RR (risk/reward) isn't there for me anyway.

Insider buying, M&A activity or something cooking could change it all though. That volume though since Oct 20 means something.

Didn't check if an options chain.

Could be missing something though but just my 2 cents on it....

Daily, Weekly, Monthly charts below.

From that daily chart, this might have been a good goal post play to follow back in April. In hindsight it demonstrates how those sometimes move. Massive spike in price and volume, then sold off a bit on lower vol and consolidated before the buyers came back and mass accumulated over a couple of months, driving that price back up.

Volume and price (candles) along with their history are everything IMO.

EMAs come next for me.

Tomas Hermensa said:

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From that daily chart, this might have been a good goal post play to follow back in April. In hindsight it demonstrates how those sometimes move. Massive spike in price and volume, then sold off a bit on lower vol and consolidated before the buyers came back and mass accumulated over a couple of months, driving that price back up.

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Yep. That play could be great long term but I don't know anything fundamentally about them. If it just does more of the same it'll be 2022 before it makes a decision.

Some catalyst though can always make that move earlier of course.

Anyone know if there is a setting in IBKR TWS Pro to get the company logo of a stock on the chart like other platforms?

Well earned I'm sure