62strat said:

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Maroon Stormtrooper said:

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There's a way you can add options trading to even your IRA. Account Features, brokerage & trading, options. You can do options trading in your IRA but not margin.

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Found it. I had to apply.

What do you want do? - Purchase of calls/puts
What is your experience with purchasing options - NONE.

hah.

I guess they assume people start somewhere huh?

It wouldn't let me do it on rollover ira, only roth ira.

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You need to lie.

Hope all have been well. With a busy schedule all down time has been non-market related. What a freaking run the Trump-train has delivered. When I said bet on Trump I had no idea the run would be this significant this fast. We've never had a CEO leading the country and it ignited the forward looking investments.

I am posting at this point because the data started shifting to show declining issues outpacing advancing stocks significantly on the 28th and even on the record 1st the late selling took the number of sell lots above buying. With todays action it appears we are finding a short term pause and a sideways drift should be expected. The 7-10 day support level will be a key indicator for determining whether a covered call strategy can be initiated.

2017/02/28
Market, AdvIssues, DecIssues, UncIssues, AdvVol, DeclVol, UnchVol,
NYSE, 1083, 1914, 113, 27919479, 2847116629, 81837469,
AMEX, 120, 200, 22, 45028286, 88076785, 5395726,
NASDAQ, 647, 2243, 124, 550078215, 1627975788, 23676605,

welcome back

Buy and Hold plays for me. I want to buy and hold for at least a fiscal quarter or two...

Took gains today in PG (Proctor and Gamble) today. They recently announced a reduction in prices for Gillette razors which has been one of their highest profit centers ever in terms of margin. If this margin is eroding, it doesn't bode well for the rest of their product portfolio.

Riding HD (Home Depot) through the heavy Spring season. Will re-evaluate in Summer. This stock has a chance to get overbought if it hits the $160 per share range. Also, with rising profits, rising dividends, AND a company announced $15 Billion stock buy back program, I think this stock is ripe for a split. Usually, a company relies on one of the three things listed above to keep stock prices high. That's why I think a split could be forthcoming.

Riding DHI (DR Horton, Inc.) for the next two years. Homebuilding is going to boom, but only for the companies with great balance sheets. Builders are in a land and labor shortage, so the ones with stellar balance sheets who have the liquidity and size to demand special treatment from their market subcontractors will thrive. DR Horton is the one that stands out as they command such huge market share in markets that are booming. The subs will take care of Horton first in order to keep their business.

With PG sale proceeds, just bought FB (Facebook) and plan to hold for the rest of the year. They are starting to explore the live TV market which would be huge because of their dominant share of users on mobile devices. The Facebook Live feature hasn't really been accounted for in any of their earnings releases, and with a PE of 36, I think this is low for what is truly still an emerging technology company. I think this company has some profit legs that we really haven't even seen yet. Similar to the first few years after google's IPO, this is where I view FB.

Long term income plays in a few REITS - OHI (Omega Healthcare) a REIT for skilled nursing facilities. Paying a dividend yield of over 7% and attractively priced. IRT (Investment Realty Trust) a REIT for Multifamily housing in booming real estate markets that have low multifamily vacancy rates. Currently paying an 8% dividend yield.

Looking for anyone to throw in a red flag for me.

oldarmy1 said:

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JJMt said:

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I could easily be wrong, but didn't aggiemetal recommend tastytrade, not tastyworks?

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Tasty Trade didn't have their own trading service, I believe. They were analytics and market insight. But metal did say they were getting their own trading system so maybe this is it?

Metal?!

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tastytrade is the online network
...I highly recommend if you want to learn to trade and be consistently profitable without having to be right on direction all the time, or even just any or some of the time (edge from options done the right way)


tastyworks is their brokerage (platform formerly known as dough they developed when in partnership w/TDA but now expanded from that)
....with the above unbeatable rates and the platform which is awesome, especially for new options traders (they have a traditional format but also a visual one where you can see your strikes and probability of each, and slide them in and out away from price to visually see and put your strikes where you want them in relation to current price of the stock/underlying)

larry,
the confusion is, the tastytrade guys built Think or Swim, they sold that company/platform to TD Ameritrade for about 600million ....they had a close partnership with TDA for a long time (it's how I found them on one of the available broadcasts)....a few years ago tastytrade guys built the dough platform for learning options traders that was exclusive to TDA at the time, that platform has now evolved and now is software based (not just web based as it used to be) and repackaged under new brokerage tastyworks

....their mission is basically they made their money and are there for teaching/empowering individual investors, tastytrade has always been free though they've put in thousands of hours of awesome research (and continue to) you can access through their site archives and education tab but they want changes in the industry (example, less restrictions in IRA's, that are archaic in "protecting the investor" but actually limiting ones that no what the hell they are doing, not being able to sell outright calls or short stock, hopefully can influence some change with margining in IRA's as well as it currently sucks etc) and the only way they could do it was being back on the inside with their own brokerage)

they are truly awesome, Tom & Tony (as well as all on air staff) will answer each and every email fielding questions or thoughts on trading...really amazing customer service for a product that's free
*no doubt their customer service on the brokerage side with tastyworks will be second to none (these guys get it and the customer is paramount to them, not just BS sales pitch from them I've dealt with it first hand for going on 4+ years now, they are amazing and again that's with what was a free service)

I'm waiting for them to roll out futures later this month before I make the move b/c I primarily trade /ES futures options. I can't wait, being full time my overhead is basically my data plan and commissions. I'm looking at 65%+ decrease in commissions from my current TDA rates when I can make the switch. The rates are awesome as is (see graphic a few posts up posted by Gator) but the the $0 closing cost is a true game changer.

BTW ya'll suck I want the referrals LOL. I've endorsed these guys wholeheartedly for 4 years, b/c they literally changed my life, long before they had referral code rewards:

aggiemetal's link, the guy who actually introduced you all to the awesomeness that is tastytrade and tastyworks

Also unlike other brokerages, it's really easy to apply. About five minutes. Easy way to switch is just transfer funds from old brokerage to your bank via ACH, and then fund tastyworks account via ACH from back. (I remember setting up my TDA years ago was a really overly long application.) Again they strip down the foreplay and make things way more easy and accessible for retail traders. Also previous restrictions or hoops you have to jump through trying to get access to upper level options/futures if you are a beginner is removed.

Gator2_01 said:

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This is true. They pretty much gloss over the fact that the buying power reduction is going to be your loss if you sell premium and then incur a 2 std dev move. However, in all the studies they show on Market Measures the Max Loss is always listed. Just last week they had sold premium on MBLY prior to Intel announcing the purchase. That ended up being an $800 loss per contract sold. The answer given was "This is why you stay small."

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I've done it for years and have endured several big outlier moves b/c of just that (staying relatively small). In fact each of those events causes a really nice opportunity ramp up in vol when I'm allowed to go out another 2SD's or beyond and collect a ton more premium for that. I stay small and those rare losses are temporary, all I lose is time my money would be working for me, but usually with that VOL ramp up and the extra premium I get that time back in regards to leapfrogging where I would have been on the previous pace.

If I'd have just picked and choose when and when not to follow the mechanics I'd have failed, the only way I'd have lost doing their method is if I'd stopped playing the game. Stay small, stay alive, make money slow and steady winning small battles most days, then in a big move against lose a battle not a war (again by being small), then if things ramp up against, assess the position and either lose a battle not a war or take advantage of the ramped up VOL and redeploy heavier, much farther away from the current price (as mentioned above).

It doesn't feel comfortable to many but it's why along with a skillset you learn first to manage fear, manage greed, take profits but also have the sense when to cut things down and wait for a more opportune time to redeploy. It works and it's why I'm full time. No matter the environment, it works. It's why before they had referral codes I've been endorsing these guys for the last 4 years (to the point my buddies bust my balls over it LOL).

They don't gloss, once you listen a lot, they address the outlier risk quite often and yes they reiterate following the model and staying small, across a number of uncorrelated underlyings to get up those number of occurences and further increase probability of success. Also with the new brokerage their low commission prices are meant to directly facilitate just that. That way for those out there less risk averse, they can do more defined risk trades and take them off, managing winners more aggressively, with no closing charge so they don't cut into those smaller profits. On TOS or other brokerages they really take a ding out of those defined risk vertical spread winnings.

Everyone must find their own risk tolerance and the style that works best for them. I can take more short term heat, so I'mmore short premium with various hedges built around the position. Some people can't do that and there are lots of ways to define risk and take advantage of vol ramp ups. It takes some live fire trading to find out who you are, many would be surprised just who they find themselves to be when the market pushes them. Pretty awesome discovery. But no matter where you fall on the spectrum, you find your own style using the options game to increase your probability of success and give you an edge over the 50/50 hit and miss, strait stock game. It's funny to me, people won't think twice about losing their ass on a stock (which no matter what they think may happen is a probabilistic coin flip), or pay tons of fees for the privilege of only winning on a mutual fund when the market obliges one direction, but the concept "options' scares them, even though it's the only way to get an edge over the market.