I've got 4/6 calls at a strike of $10.5 that I got for $.11

I'll need to learn more before moving into that area.

tailgatetimer10 said:

---

I'll need to learn more before moving into that area.

---

if you own the underlying stock, say 100 shares. You can sell 1 call option contract against those 100 share. each contract being 100 shares. This is what old army does. Sells covered calls against his position. collect the premium, likely wait for the option to decay and buy it back at a lower price. you have now effectively lowered your cost basis of the stock you purchased.

FriscoKid said:

---

15min S&P chart. I'm buying puts at the top of this channel and selling thin. I just don't see it breaking out high. Overall trend is down even before the trade war talk last week.

---

Nice Darvis Box there. Good thing is of you do buy Puts at top of channel you have a clear stop.

SQ last trade on our options 47 cents.

We are right back to 1st morning resistance. Break that and we all get filled.

Is there a limit sell option on options on Robinhood that I can't find? I haven't found the function and I've basically been babysitting them my on my second screen.

Ragoo said:

---

tailgatetimer10 said:

---

I'll need to learn more before moving into that area.

---

if you own the underlying stock, say 100 shares. You can sell 1 call option contract against those 100 share. each contract being 100 shares. This is what old army does. Sells covered calls against his position. collect the premium, likely wait for the option to decay and buy it back at a lower price. you have now effectively lowered your cost basis of the stock you purchased.

---

Spot on Ragoo! My numero uno approach to clear resistance marks. Even more so on a well defined sideways channel.

I'll give it a swing

IrishTxAggie said:

---

Is there a limit sell option on options on Robinhood that I can't find? I haven't found the function and I've basically been babysitting them my on my second screen.

---

Yes...let me look and recall what I did

Ok I think when you enter your sell you put number of contracts to sell and it has a default current price for limit. Click on that price and you can adjust it.

OA, how are you calculating the price need to achieve your limit sell? Is this based on volatility?

Thanks!! The options platform is a bit different from the equities.

You don't have to be some stock guru to spot 1 minute resistance. Everyone should be able to see this...

Is the consolidation along this line a good thing, as long as it doesn't sit there for too long?

tailgatetimer10 said:

---

Is the consolidation along this line a good thing, as long as it doesn't sit there for too long?

---

Absolutely. And the market momentum ain't hurting the cause either.

Breakout attempt underway

SQ 15 minute chart

Options up 82%. Any sellers? You bunch of greedy Capitalists!

oldarmy1 said:

---

Breakout attempt underway

---

And this is where I get in trouble. I'm stubborn

FriscoKid said:

---

oldarmy1 said:

---

Breakout attempt underway

---

And this is where I get in trouble. I'm stubborn

---

Recall my approach back when building capital? I would always sell half when doubled and have my capital back.

Now if people have 2-3 contracts that makes less sense. I'd rather they sell it all somewhere above 50% ROI. My target is not necessarily everyone's target or even goal.

Bit if someone getting started has $260 in 10 contracts then sell 5 at 52 cents and it changes their entire mindset on the trade.

Everyone is unique. The cause of entering the trades should be similar.

Not seeing breakout on my end. Seeing SQ $53 calls at .41 cents

I stayed in because I'm stubborn and RSI was at 62 and volume was fading. I made my other biggest mistake though and got in to the trade too soon because I was afraid I would miss it. I'm almost green again, but that's where I screw up every time. I get in to soon and out too late.

AggiePeeps06 said:

---

Not seeing breakout on my end. Seeing SQ $53 calls at .41 cents

---

At a luncheon and see a high today at 47 cents

Yep that's what I show. On the move back up now. Will probably retest that high shortly

Boy it just doesn't want to hold that 49.45

Just broke it

Solid day today for the market. I was wrong again.

Ive got my option sell set at $.52!! So freaking close!!

I got a sale at .50. was happy to double money

Just sold mine at .50 bought at .28 cents. Not bad for one day!

Good job guys. Heading to the airport. Anyone who decides to hold will be looking for another gap up Monday coming off the Holiday weekend. Historically a positive day. Never be upset for taking a good profit!

Later!

Got into some MU and T calls before the late afternoon gains. Going to keep reading up and trying to actually have a strategy where I know what I'm doing.

leoj said:

---

Got into some MU and T calls before the late afternoon gains. Going to keep reading up and trying to actually have a strategy where I know what I'm doing.

---

I like it. They reported better than expected and their price dropped. The IC companies have huge lead times right now too. The distribution guys/gals keep warning me about it.

I don't know if MU is the best option, but I think semi's are a solid buy.

I work in semiconductor, memory is still very pricey and in high demand. I'd suspect micron will do pretty well this quarter with the Samsung power incident as well.

tailgatetimer10 said:

---

I work in semiconductor, memory is still very pricey and in high demand. I'd suspect micron will do pretty well this quarter with the Samsung power incident as well.

---

What part of the state/country? If you are in the metroplex we know some of the same people.

Been in the Austin area. The industry definitely feels small as you run into a lot of the same people