We've spoken about the goal post runs and here is a great example on V. The red/green reversal bottom with huge volume and then the green/red reversal top. After exiting the last $155 calls successfully I now won't touch V.

Whether this is also a macro market top signal remains to be seen but I wouldn't be chasing entries right now and the V Put I posted is doing well. Right now is a time to sit back and count your gains, while waiting to see what this pullback looks like.

OA, are the April AAPL calls a longer term play or did you have a stop limit price?

See the head and shoulders clearly followed by 2 attempts to hold the neck line. Once it failed down we went into "h" patterns. Smaller head and shoulders formed with quick fail on that one for continuation.

Pignorant said:

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OA, are the April AAPL calls a longer term play or did you have a stop limit price?

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Went out to April 18th for time value. Sticking with them and notice the big 3 are green. Markets find support bottom and those will race.

Buying a weekly GS $200 for a buck with stop at 75 cents, as my test the support trade.

SUM below $17 again. Be cautious after taking it for some easy support gains two previous times. If entering here at $16.87 have a quick trigger exit at $16.71 for small loss.

I've made a killing on SUM and am not trading it going forward unless a huge opportunity entry unfolds.

TRNX is the most hard luck stock ever. Anyone else notice that any time they have news with upward bounce the markets are dropping? EVERY. DANG. TIME.

Dang, was hoping SUM would reach $20 by end of spring

BenRev09 said:

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Only slightly ahead of you in terms of experience, but I'd recommend buying multiples of the same option. Gives you the flexibility to lock in profits (or mitigate risk) while letting the option run. Example would be selling half if the price doubles, to leave yourself in a net free position. I'm not as confident in my understanding of price targets, so I've gained a lot just by having that flexibility.

Also, be patient or take your profits, a lot can happen between now and 4/18

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FIFY

Obviously depends on everybody's risk tolerance and specific situation, but just because you're up on an option, don't assume you've got guaranteed money. Things can and do change quickly with options.

Case in point, I sold NIO $7 puts for $0.40 when it was at $8 before it ran up to $10. At one point they were at $0.15 and stock price was 40% above exercise price with less than a month until expiration. So guaranteed premium pocketed, right? Not in this case. I'm in NIO at $6.60 and have some additional 4/18 puts I sold that I will be okay owning if it comes to it. But, this is just one example of don't be afraid to take profits if your risk tolerance is low, because they may not be there tomorrow.

Reason I entered the GS trade was the S&P is formed an intraday reverse H&S. Those are up 25% and I closed out 50% of them, since I bought 100 and that gives me 50 to hold to the 75 cent stop risk free. Will post the intraday S&P update on here to show.



So markets get a support move upward GS will easily get into the money taking the $1 calls to over $2.30 (if happens today) Take 30 cents off for time value decay if not until tomorrow.

oldarmy1 said:

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SUM below $17 again. Be cautious after taking it for some easy support gains two previous times. If entering here at $16.87 have a quick trigger exit at $16.71 for small loss.

I've made a killing on SUM and am not trading it going forward unless a huge opportunity entry unfolds.

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3rd time it's bounced off just over 16.80 in the past couple weeks

gougler08 said:

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oldarmy1 said:

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SUM below $17 again. Be cautious after taking it for some easy support gains two previous times. If entering here at $16.87 have a quick trigger exit at $16.71 for small loss.

I've made a killing on SUM and am not trading it going forward unless a huge opportunity entry unfolds.

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3rd time it's bounced off just over 16.80 in the past couple weeks

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Why I posted it. Most trade the support with a small loss exit if it fails. $17.71 would be a negative but it held and bounced back above $17. Remains to be seen if it has upward support or if this was a predictable bounce to draw in buyers.

Those V $152.50 Strike Puts came into the money on a flash down and you sell on that. I'm out.

Thanks.
Sold mine a bit earlier today. I didn't want to hold them through the fed.

We spoke about AMZN needing market continuation to see a breakout. Well yesterdays market trend highs before reversing had it bump up on that resistance. Today its holding just below it but it is noteworthy to see that each failure came after a two day attempt - the markets then really went into sell-off mode.

Today's 170 point drop is a blip and the markets could roar back and bust out or be down 300+ tomorrow. I say this because you can watch AMZN to know what's going to happen, based on the last 3 times being the indicator.

I bought some weekly AMZN 1750's as a hedge (I own it net free long across all accounts), because its either going to breakout or fail hard.

1k DIS $110 weeklies just bought by someone

oldarmy1 said:

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1k DIS $110 weeklies just bought by someone

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OH, I guess my order got filled?

Prognightmare said:

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oldarmy1 said:

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1k DIS $110 weeklies just bought by someone

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OH, I guess my order got filled?

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Then you're up $11k dollars. Well played.

No more Fed rate hikes this year

Banks didn't like that news.

AMZN broke yesterdays highs.

Gold was down 10 and now up over $6. Gold stocks all reversed upward

See how post-enthusiasm bounce plays out.

oldarmy1 said:

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GOLD was down 10 and now up over $6. Gold stocks all reversed upward

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OA, I know you are in your 3rd round of GG. What is your get out point when it hits around $11.40? That seems to be where the ceiling hits (give or take a little).

Our CX entry is looking good on the chart for a probable candle sending it into the $5's

tramaro1 said:

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oldarmy1 said:

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GOLD was down 10 and now up over $6. Gold stocks all reversed upward

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OA, I know you are in your 3rd round of GG. What is your get out point when it hits around $11.40? That seems to be where the ceiling hits (give or take a little).

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As it approaches that I'm selling into it. Trade shares and options bought down here only. At some juncture it won't stop and will just zoom on upward.

Gotcha, thanks!

tramaro1 said:

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Gotcha, thanks!

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Fingers crossed that today is first day of a red/green reversal. Setting up that way on the daily

AMZN on 1800 magnet flash protocol.

NFLX resistance breakout

AAPL resistance break

oldarmy1 said:

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NFLX resistance breakout

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Sold calls on HEAR Monday, close the position now for 60% of what I originally sold them for and pocket the difference or continue to wait?

Edit to add: I guess the real question would be, is this the floor?