Been on a plane the last 10 hours. Not a good day for my SFIX and TWTR options.

For as red as today was I was able to roll out and down some contracts to sell time. Sell because I took in more credit for a longer duration, hopefully enough time to correct. Only 3 contacts are currently in the money on my naked Puts. OLED need to come back to 85 but I have until 8/3. JD needs to come back to 39.50. All in all, in trades longer but no real losers yet. Any rally off today will decay the extrensic value quick.

Shouldn't have looked at my portfolio today

gougler08 said:

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Shouldn't have looked at my portfolio today

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Never look after a bad market day. Haven't looked at my IRAs since March.

i look at mine everyday like the idiot i am

Nasdaq and Russell have been on a tear lately. It's impossible to keep that trajectory, so pullbacks are inevitable.

Although my 401k took a pounding today, it was a nice day for my options portfolio.

All cashed out and in CDs. I'm not gambling on political insanity. Nobody wins that game.

JDCAG (NOT Colin) said:

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Been on a plane the last 10 hours. Not a good day for my SFIX and TWTR options.

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SFIX was doing so well too. Still may be okay with a backtest of the breakout.

Two stocks I'm following that had great days today -- SMAR and ZUO

GE officially announces its intent to sell off its Baker Hughes position and spin off health-care unit.

https://www.cnbc.com/2018/06/26/ge-plans-to-spin-off-its-health-care-unit-and-shed-its-stake-in-baker-.html

Put selling strategy yesterday looks solid today with NFLX leading the way, up over $7.

Usually the worst down day during waves become short term bottoms. With outside influences clearly able to disrupt markets what looks to be a day of early uncertainty (flat futures) typically has an early negative before jumping and making a push higher.

I like the current strategy and am not entering much in trades.

Those head and shoulder patterns have played out into JPM and BAC moving lower

LADR dropped back under 16 so I hopped in, like the 8% dividend after going after some riskier tech/bio stocks lately

Also, WMT may be breaking out of the downward wedge its been in

TWTR textbook Flag pattern.

oldarmy1 said:

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TWTR textbook Flag pattern.

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If a similar flag pole builds, that puts us around $55 or so right? (Still learning the technical patterns)

What are you reading to learn technicals?

ZN made a big move back up towards previous support.

Ragoo said:

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What are you reading to learn technicals?

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Just various websites when OA calls something out and then trying to re-create their examples with his stock (TWTR in this case).

Haven't gotten nearly far enough to be able to find them myself though

So if I understand the flag technical right...it would basically look like either the yellow or blue lines on this chart (I'm not as fancy as some of you so take my drawing at Kindergarten level). I'm just not sure where to classify a flag pole and just normal gains so I'm not sure which line is more accurate. Obviously, the theory is the next gain will follow a very similar pattern in length and growth as the first flag pole once it breaks out of the flag box (red line)

What do you recommend reading to learn more about technical trading?

Tasty trade

Big Cat 05 said:

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What do you recommend reading to learn more about technical trading?

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i am not a technical trader. I do plan to pick up the book "signals" by Kirk Du Plessis at Option Alpha.

https://optionalpha.com/signals

Big Cat 05 said:

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What do you recommend reading to learn more about technical trading?

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I've learned a ton just from reading what OA and Ranger post on here and then googling the various terms and charts to see if I can replicate it.

The hard part is finding these type of things before they actually happen

I believe OA previously recommended The Handbook of Technical Analysis by Darrell Jobman. I picked it up but haven't had the time to start going through it yet.

IrishTxAggie said:

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Tasty trade

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TastyTrade has a good log of articles and for many their ecasts are great for daily insights.


BTW- Do I have to thank Trump for easing talk on techs since my TWTR flag trade paid off this morning?

SN...big pop this morning. Me likey.

Man, PBI has been a pile of dog **** for me.

snowmnag970 said:

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SN...big pop this morning. Me likey.

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The 3 buy trade of SN, CHK and SWN is up 78% from entry but actual gain is sitting at 134% due to layering buy/sell waves and options. I am planted on 2 of the 3 with only SWN remaining.

I need $5.87 on SWN to finish all trading activity on the 3 before transitioning to long hold.

That said, if you aren't active traders then a simple sell 50% as each doubles from entries to free up your initial capital is how I used to do it, and thats fine.

I like my capital back as fast as I can, factoring returns to include for capital gains. In retirement accounts I trade I am even more aggressive due to no tax consequence.

Love NFLX eliminating need to buy back naked Puts.

SWN having layoffs today according to the Houston we have a problem thread.

oldarmy1 said:

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Love NFLX eliminating need to buy back naked Puts.

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IV is an option seller's best friend

Where are you guys on MU & OLED? On the sidelines or holding?

Aggie09Derek said:

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Where are you guys on MU & OLED? On the sidelines or holding?

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i have sold naked puts out to Aug 3rd at $85 strike in OLED.

JNPR signaling. Options trades all over the place for continued move higher.