Congress grilling Zuckerberg is analogous to a baby grilling Clarence Thomas or Gorsuch. Most congressmen can't even turn on a computer much less effectively question and play verbal programming chess with a computer genius.

If Congress is going to reign in the censorship and spying and selling of personnel information going on at Facebook, they would need to hire Google or Booze Allen or some other geniuses to stand any kind of chance.

I get how it works, I'm more curious to know how much the regulars on this thread are playing with on a daily basis. IE. how much do you have to invest to justify making it a full time/mostly full time job.

BoilerAg10 said:

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I get how it works, I'm more curious to know how much the regulars on this thread are playing with on a daily basis. IE. how much do you have to invest to justify making it a full time/mostly full time job.

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Ha, can't answer that one for ya. Def still need my day job.

BoilerAg10 said:

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I get how it works, I'm more curious to know how much the regulars on this thread are playing with on a daily basis. IE. how much do you have to invest to justify making it a full time/mostly full time job.

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It's subjective. Every trader has their own level of tolerance for risk as well as what they would need to live off of if they were to do it full time.

That's what I figured, but thought it might ask anyway. I've been toying around making the switch for a few years and just have never been comfortable with my savings cushion should things go awry to pull the trigger.

My thought was to set aside money into a trading account that I managed and establish a proof of concept.. I think you'd be about to answer that question yourself based on how comfortable you came and how much your returns paid off.

Huge insider volume purchases on AVEO after hours!

Yeah, I was looking at that. A bunch of them exercised their options. Was a pleasant surprise, as I bought back the shares I sold yesterday at peak.

Icing on the cake for today's gains, was a great day today!

BBBY? Earnings after hours today. Near multiyear low and no real bad news that I can see. Most analysts have it as a hold. I'm considering taking a long position depending how it performs today.

FriscoKid said:

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BBBY? Earnings after hours today. Near multiyear low and no real bad news that I can see. Most analysts have it as a hold. I'm considering taking a long position depending how it performs today.

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Increasing volume last 3 days. Why wouldn't you take a close Friday option if you think its going to "pop" and head higher?

Another way to approach it is to sell naked Put options. The Friday $21 Strikes are above $0.90. Say you were planning to buy 1000 shares of BBBY. You sell the $21 Puts and are paid $900 for the 10 options. If the stock drops below $21on Friday expiration then you own the shares for $21 less $0.90/share premium for a net ownership of $20.10. Of course if it spikes higher you only pocket the $900 and own no shares.

When I do this on a stock I am wanting to own I'll sell the naked Put close to the money (and nearest to expiration) and then purchase a Call out several weeks to a month out of the money. I typically make sure the options would offset each other, and usually pocket me some coin if the stock were to not make a move.

oldarmy1 said:

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FriscoKid said:

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BBBY? Earnings after hours today. Near multiyear low and no real bad news that I can see. Most analysts have it as a hold. I'm considering taking a long position depending how it performs today.

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Increasing volume last 3 days. Why wouldn't you take a close Friday option if you think its going to "pop" and head higher?

Another way to approach it is to sell naked Put options. The Friday $21 Strikes are above $0.90. Say you were planning to buy 1000 shares of BBBY. You sell the $21 Puts and are paid $900 for the 10 options. If the stock drops below $21on Friday expiration then you own the shares for $21 less $0.90/share premium for a net ownership of $20.10. Of course if it spikes higher you only pocket the $900 and own no shares.

When I do this on a stock I am wanting to own I'll sell the naked Put close to the money (and nearest to expiration) and then purchase a Call out several weeks to a month out of the money. I typically make sure the options would offset each other, and usually pocket me some coin if the stock were to not make a move.

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Interesting on the naked put. I don't really want to own the stock outright though.

Oh, I misread your intent. Then a Call option to for an earnings trade makes sense.

GG is trying to breakout and continue its move higher.

Loving AVEO action.

SWN moving to test major resistance.

oldarmy1 said:

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Oh, I misread your intent. Then a Call option to for an earnings trade makes sense.

GG is trying to breakout and continue its move higher.

Loving AVEO action.

SWN moving to test major resistance.

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Isn't the IV decay going to kill a lot of it though post earnings?

And yeah, AVEO is top 10 mover today. Irish FTW.

If it tanks on earnings, yes.


My little TRX continues its move.

New to investing though I have been watching this thread for a while. Have a small amount that I have started investing but not much.

Question is: do you have a goal in mind to pull money out of a stock? Say it goes up 6-8 percent do you take the win and move on if you don't see major action coming. On the inverse, do you have an acceptable loss limit before pulling out?

Welcome! I believe the approach one should take in terms of managing trades is to have well defined set of rules and disciplines that you use to judge if a trade is taking the desired action or not. Then the type of trader comes into the formula, i.e. Daytrader, Swing Trader, Breakout resistance trader, Options, etc. OR a combination of two or more of these.

In short you need to determine temperment on managing risk and skill levels your willing to develop in being effective on any or all of these.

Thanks! Do you have any resources you would recommend reading to get a better handle on trading?

I wish we could somehow rally to ~2667 again. We are kind of stuck in no man's land right now.

Oldarmy, any thoughts on strangles with IV increasing?

FriscoKid said:

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I wish we could somehow rally to ~2667 again. We are kind of stuck in no man's land right now.

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My GLD play is up today.

We're getting no real push past key resistance levels like 2667 and right now are stuck in this range. It's going to get real interesting if there are major political developments (Syria, rumors of Trump firing DOJ on Saturday night) over the weekend, but then right into earnings season with Netflix reporting Q1 numbers on Monday AH.

Great call on TRX. I should've jumped in. Any predictions on whether it continues to go up?

I agree, if we are going to see movement upwards it'll have to be from earnings season

I thought about it all day and strongly considered buying the stock outright and selling puts against it.

In the end I just went with a straight call. The IV decay is going to kill me though even if it pops.

If I would have bought the stock and sold the puts I could have benefited from the decay, taken the premium and whatever gains the stock made, but I didn't want that kind of downside risk if they miss.

Holy crap amba never quit running today

Looks like the $13 GE Support has become resistance, according to the 5 minute chart. Not sure how to post the chart

BBBY beats est, gets crushed AH.

Glad I went thin.

Wonder what it was the markets didn't like?

Once people start using Amazon for wedding registries, Bed Bath & Beyond is dead. The only time I ever buy anything from BB&B is either for a wedding registry or if their price, with the 20% off coupons they hand out like candy, is cheaper than Amazon.

All Amazon needs to do is make creating an Amazon wedding registry in another brick & mortar store easier and the process more well-known. Not many people realize that the Amazon app has a barcode scanner in it. Allowing people to walk around BB&B and other retail stores, scanning physical items to add to an Amazon wedding registry, instead of BB&B, is how Amazon kills BB&B.

$NVCN

One to keep an eye on. It's a "penny stock", but it hit its floor at about $0.035 last week and it just broke through a resistance with attitude after a warrant exercise. Their bread and butter is a product called Tiara which is a transcatheter device designed to treat mitral regurgitation (MR).

AggiePeeps06 said:

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Wonder what it was the markets didn't like?

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Guidance for the rest of the year is way down from what they wanted/expected.

Just sharing something that I'm invested in. Everyone is responsible for their own DD.

I like their products.

Good call on this one. Looks like it already doubled

What caused the huge crash earlier this year though?