There was a small tiny gap Thursday/Friday last week at 2881 I didn't see. We just filled that and had an initial move off of that higher. No change in my overall view and approach to sit on my hands for now.

Hasn't this pessimism on ROKU set in because of what people are presuming Apple will announce soon?

ROKU flash below $60 made it as low as $58.35. Only for professional traders buying large lots under $59 and leveraging covered calls as it pushes higher above $60. This is exactly what I was looking for premarket. Flash down below $60 for added bigger buys and then sell a good portion above $60 for a pure $1+ per share profit. Use 15% of those profits to buy $55 Puts and then sell $60 covered calls. Net-net of all will be a no risk trade.

Lot of moving parts that takes experience and quick decisions to accomplish so not a scenario for all.

Buying pressure on QCOM beyond obvious to all now. Down market and it rejects selling.

Our only other option, FEYE, stable as the stock is green and has an intraday cup and handle.

oldarmy1 said:

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Ragoo said:

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Buying the stock long under 60?

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I had sold more of long holdings as it approached $75 plus had 25% of my shares called out at $70 on those covered calls, so I wouldn't mind this intended trade to end up as a long hold.

$60 is a support level and on continuation after an expected flash down below $60 it could make it to between $50-$55.

I imagine premiums will be large in the first few minutes and will sell a $60 covered call out to wherever I can get a $5 premium. So either make $5/share clean or own it long at $55.

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So looks like mid-May 60 calls are $5+ right now...make sense to sell that as a naked call if I'm ok for the long hold?

AAPL $200 call

No change in my post stating its coming.

gougler08 said:

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oldarmy1 said:

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Ragoo said:

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Buying the stock long under 60?

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I had sold more of long holdings as it approached $75 plus had 25% of my shares called out at $70 on those covered calls, so I wouldn't mind this intended trade to end up as a long hold.

$60 is a support level and on continuation after an expected flash down below $60 it could make it to between $50-$55.

I imagine premiums will be large in the first few minutes and will sell a $60 covered call out to wherever I can get a $5 premium. So either make $5/share clean or own it long at $55.

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So looks like mid-May 60 calls are $5+ right now...make sense to sell that as a naked call if I'm ok for the long hold?

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You would sell naked puts not calls.

oldarmy1 said:

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gougler08 said:

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oldarmy1 said:

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Ragoo said:

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Buying the stock long under 60?

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I had sold more of long holdings as it approached $75 plus had 25% of my shares called out at $70 on those covered calls, so I wouldn't mind this intended trade to end up as a long hold.

$60 is a support level and on continuation after an expected flash down below $60 it could make it to between $50-$55.

I imagine premiums will be large in the first few minutes and will sell a $60 covered call out to wherever I can get a $5 premium. So either make $5/share clean or own it long at $55.

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So looks like mid-May 60 calls are $5+ right now...make sense to sell that as a naked call if I'm ok for the long hold?

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You would sell naked puts not calls.

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Yeah I'm dumb...thank you sir

Volume isn't really there for option plays, but I've been watching PUMP for months now and it's been one of the strongest o&g stocks on the market.

Seems like it's still green on every red day

oldarmy1 said:

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After big trade gains last couple of weeks I'm standing by to see if we go fill that S&P gap on 3/29 back to 2836 or can power upward. Plenty of opportunities will present themselves on either scenario, so simply a time for patience.

Frankly the markets would have more upside if we fill that gap and clean out weak long holders through a cycle period.

The only options trades left on the table are FEYE and QCOM and with the QCOM premium pop it received Friday allowed for selling the double down buys, to lower initial entry cost basis to a point where the trade is no longer a risk. Sometimes you get lucky.

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OA - are you not in the 4/18 NIO $6 calls anymore? Maybe I missed your exit time.

IrishTxAggie said:

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Hasn't this pessimism on ROKU set in because of what people are presuming Apple will announce soon?

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I am long ROKU and I don't think the competition is going to slow their growth.

I see Roku as a market maker. Any streaming service will be on Roku. Roku brings streaming buyers and sellers together. They also have the largest market share and they own the word 'streaming'.

I knew they were going to kill in Q4 2018 because I went to Best Buy and bought 4 of them for family gifts, and could see the shelves how well they were selling. I thought, "Wait, Im buying 4 of these things! If I'm buying 4, I doubt I'm the only one."

Because of that I bought some shares before the Q4 results, and some more after.

Amazon doesn't have as many apps, and their streaming prime is available through Roku.

Apple smart TV device has an awkward controls with the touch pad. Those are my friends comments who designs software interfaces and has also used Apple TV but chooses to own Roku.

Roku owns the word "streaming" in the consumers mind and therefore I believe
will win the segment. Being first in the consumers mind is important.

Is anyone who owns a Roku going to run out and dump it for Apple or Amazon product?


I don't understand the pessimism on Roku.

I got $6.50 fills on a few ROKU May 10 $60 covered calls and raising my ask 25 cents each fill.

Agree 100%

OA, are there any good books out there that you recommend for option trading? I understand the basics but looking for strategies.

Sold 200 shares of Roku last week at $70 bought back another 100 here at 59.

AAPL is running, my $200 call is looking good!

oldarmy1 said:

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Buying pressure on QCOM beyond obvious to all now. Down market and it rejects selling.

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bid ask spread on my calls was up to 30 cents this morning

What do you guys think about SQ here?

I'm with you. I have owned every streaming device, from Roku-AppleTV-Amazon-Chromecast. Roku is hands down the easiest to navigate. And where is Disney+ going to publish their content? Through devices like Roku.

tramaro1 said:

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OA, are there any good books out there that you recommend for option trading? I understand the basics but looking for strategies.

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ThinkOrSwim on TastTrade has good resources for learning option fundamentals.

https://www.ivolatility.com/roller/page/trader?entry=volume_19_issue_14_br gives a little more advanced read.

tons of books out there, although most are pitching selling premium (naked Puts) as the desired strategy.

Thanks

ROKU $59.50 buyback of shares sold at $60.80. Geez this is fun.

jayelbee said:

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Is anyone shorting TSLA? I'm looking at the put options for July and September and they seem ridiculously expensive. Does the market anticipate a much more rapid decline than I do?

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They're ridiculously expensive because a lot of people are shorting TSLA. TSLA's Q1 and Q2 reporting is not going to be pretty.

AAPL $200 calls up 188%. Flash and dash AAPL!

You selling? I'm up 50%

oldarmy1 said:

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tramaro1 said:

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OA, are there any good books out there that you recommend for option trading? I understand the basics but looking for strategies.

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ThinkOrSwim on TastTrade has good resources for learning option fundamentals.

https://www.ivolatility.com/roller/page/trader?entry=volume_19_issue_14_br gives a little more advanced read.

tons of books out there, although most are pitching selling premium (naked Puts) as the desired strategy.

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When I was in college I found an old book from the 80s in the university library on options. It covered all of the fundamentals and dozens of positions, the profit and loss requirements (and graphs) of each along with the risks. It didn't promote any one strategy over others.

I don't recal the the name or author, but for the person asking the question, some older non glamorous books are out there that cover the fundamentals well.

AggiePeeps06 said:

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You selling? I'm up 50%

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I sold 50% but it will break $200.

This one caught my eye. Hell of a buy for an in the money option.

You people with wives: what kind of feel do you/they have for Pinterest?
https://www.nytimes.com/2019/04/07/technology/pinterest-ipo.html

SUM still making me nervous.

IrishTxAggie said:

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You people with wives: what kind of feel do you/they have for Pinterest?
https://www.nytimes.com/2019/04/07/technology/pinterest-ipo.html

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i feel like Pinterest missed a bigger opportunity 3-5 years ago. IG stories are more popular.

The phrases/words obsessed, bane of my existence, expensive crafts all come to mind.