S&P just back tested the 2950. Should move higher again. It's now done it 2X there. Still hanging around here. Needs to move off

oldarmy1 said:

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RUBI/TLRA moved below 50 DMA. Be slow to accumulate as RUBI it could see $8's which puts TLRA in low $9's or below. If you went net free just sit on it. I will likely sell a lot of April naked $7.50 Puts once RUBI comes under $9.


Ebbs and flows of hard runners.

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exactly what I was looking for, cutting bait on mine, will buy back when it hits 9 or below. Looks like gaps back at around 9 or below as well.

Trolley Problems said:

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leoj said:

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Trolley Problems said:

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oldarmy1 said:

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FriscoKid said:

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Prognightmare said:

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I won't be surprised if we go positive today

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No way I'm taking a long position here. No way at all.

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Great time for straddles, spreads and such. Look at ADBE. It well have 50 point directional move on either a failure or a rebound. Inflection points are when option combos are THE THING

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Need to do some reading on that type of options trading. I still don't fully understand the strategy.

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Tasty trade is great for this, they have videos for all types of combo strategies.

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Thanks. Being a newb on spreads, I guess I'm having trouble seeing what's the best strategy in this market.

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Yeah understood. Their videos go over everything and also have great graphics to help you visualize the profit/loss scenarios and the math.

IrishTxAggie said:

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Besides recommendation, what in the world are they gonna do, travel bans?? Tax incentives for cancelled trips? Writeoffs? WTF

Please help with my somewhat newbie questions.

If we need to retest lows, which are they? the close low or the interday low?

If interday low (pretty sure it is that), wouldn't we need to touch and hold around 2855-2860ish?



Read that if we don't hold at 2960, we have issues. Does that mean if we don't close above 2960?



Let's say today is great on hitting and staying above support. Why wouldn't you buy? Isn't that a signal to traders, or does the "never on a Friday" come into play?

Thanks and Gig'Em!

Wow I'm allergic to money today. Got to a good number and put in my orders to just go all out for the day.

Spy puts filled. Spy calls and amd calls didn't. Immediately spy dropped like a rock and now I'm big red.

IrishTxAggie said:

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S&P just back tested the 2950. Should move higher again. It's now done it 2X there. Still hanging around here. Needs to move off

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Didn't hold on the 3rd test time...

claym711 said:

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Plan is scalp open long if there's a surge. Then short to below the AH low. Short pending some post open stats

If surge down at open, limit down rules may come into play today.

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Yup

TXAG14 said:

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In at .65 XOM APR 17 37.5 PUT

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can someone explain this to me..trying to learn and understand shorthand lingo

is this saying he has a put option (shorting) for XOM starting at $65 and is expecting value to be $37.5 by April 17th?

Aggie95 said:

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TXAG14 said:

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In at .65 XOM APR 17 37.5 PUT

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can someone explain this to me..trying to learn and understand shorthand lingo

is this saying he has a put option (shorting) for XOM starting at $65 and is expecting value to be $37.5 by April 17th?

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He paid $0.65/ share ($65/contract) for the April 17th 37.5 Put

claym711 said:

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claym711 said:

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Plan is scalp open long if there's a surge. Then short to below the AH low. Short pending some post open stats

If surge down at open, limit down rules may come into play today.

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Yup

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Quoting your own posts. Well done sir

oldarmy1 said:

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FriscoKid said:

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Prognightmare said:

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I won't be surprised if we go positive today

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No way I'm taking a long position here. No way at all.

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Great time for straddles, spreads and such. Look at ADBE. It well have 50 point directional move on either a failure or a rebound. Inflection points are when option combos are THE THING

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So let me ask why a strangle strategy as opposed to a straddle strategy here? I'm definitely new to the spreads, so I'm curious as to what indicators you look for to tell you which type of spread you're doing here.

IrishTxAggie said:

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Aggie95 said:

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TXAG14 said:

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In at .65 XOM APR 17 37.5 PUT

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can someone explain this to me..trying to learn and understand shorthand lingo

is this saying he has a put option (shorting) for XOM starting at $65 and is expecting value to be $37.5 by April 17th?

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He paid $0.65/ share ($65/contract) for the April 17th 37.5 Put

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so does this make money only at $37.50 or can you still make money if it only falls to say $45? sorry... I know these are dumb questions.
$37.50 seems like a crazy valuation for XOM in only 4 weeks or so.

OSTK at 52 wk lows - 5.90's, tempted but hmmmm

Aggie95 said:

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IrishTxAggie said:

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Aggie95 said:

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TXAG14 said:

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In at .65 XOM APR 17 37.5 PUT

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can someone explain this to me..trying to learn and understand shorthand lingo

is this saying he has a put option (shorting) for XOM starting at $65 and is expecting value to be $37.5 by April 17th?

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He paid $0.65/ share ($65/contract) for the April 17th 37.5 Put

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so does this make money only at $37.50 or can you still make money if it only falls to say $45? sorry... I know these are dumb questions.
$37.50 seems like a crazy valuation for XOM in only 4 weeks or so.

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If it is $45 at time of expiration, the put would be worthless. He can sell it back into the market at anytime assuming there's a buyer for them before the expiration.

NRD09 said:

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george1992 said:

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Whitetail said:

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george1992 said:

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I'm going to put you guys, gals and in-betweens onto a stock that has made me a lot of money. It is Texas Pacific Land Trust. I'm part of a group that owns around 10% of the company. It trades under TPL. There is a lot of articles on the going ons lately for this company (considering converting to a c-corp, big fight over a trustee position etc). Things have settled down and our group has a representative on the Conversion Committee and that same person will likely be a board member once the company converts to a C corporation.

There is a lot of upside potential in this stock. It has traded as high as $915 recently and is currently trading around $620. There was a bad earnings report Q2 as a result of excessive legal fees. The majority of those fees are now gone and all lawsuits have been settled. The Q3 report was much better and now the stock appears to be back on a upward swing. I think it could hit $900 per share and then $2000 per share at the end of next year. At that point we will diversify away from this holding but still maintain a large position because we feel it can go much higher.

You can find some quick background on this company here:

http://www.tpltrust.com/

There is also a blog that keeps track of the comings and goings with the trust:

https://tpltblog.com/


It is a very lightly traded stock and the price of oil does affect the price of the stock. But its not an operating company is very different from the other mineral trusts out there. They have a water company, own a ton of land and most of the mineral interests of the trust have yet to be tapped.

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22% run since this post...

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TPL continues to climb. Its at 800 so far today. Up 29% since my original post. I'm thinking it will hit $900 before it finds a resting spot until the next earnings release.

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TPL increased dividend to $10, declared special dividend of $6. Eases the sting a bit

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The market has drug it down and now with oil spiraling downward it can't catch a break. Its a really good time to buy some more with the changes going on in the company I'm just a little low on cash with the recent damages caused by my lack of option trading knowledge.

McInnis 03 said:

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oldarmy1 said:

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RUBI/TLRA moved below 50 DMA. Be slow to accumulate as RUBI it could see $8's which puts TLRA in low $9's or below. If you went net free just sit on it. I will likely sell a lot of April naked $7.50 Puts once RUBI comes under $9.


Ebbs and flows of hard runners.

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Remind me the relations, is TLRA = 1.08 x RUBI?

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Correct

IrishTxAggie said:

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Covered calls?

I don't do much bar analysis but weekly bar looks pretty bad. Needs someone to spike the close today

Anyone else thinking a big sell off into the weekend?

claym711 said:

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I don't do much bar analysis but weekly bar looks pretty bad. Needs someone to spike the close today

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So far its a mirror of last Friday. Start low bounce and then sideways trend right near mid-range of daily candle. If we sink this afternoon like last week then another red/green open Monday for double bottom potential. Also obviously exits the potential breakdown.

spreads spreads spreads

I want to sell some OTM puts. Where do you guys see juicy premium?

What spread would you suggest

Ummmm everywhere?

YNWA_AG said:

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What spread would you suggest

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I'd wait for closer to end of day, or even after hours (you get 15 minutes after hours on SPY options). If you wanted to take a little risk to potentially move options spread closer together then on a $296 SPY bounce buy a $291 Put and then $293 buy the call. Making a tight spread for maximum impact Monday.

ADBE down $20 now from down $13 earlier. Creeping closer to $322 flash low off last week. $330 right now

There was $293, although when I was typing we were more towards $296. I would rather get the put in first because pressure is to the downside off ranges. If $293 breaks then I'd just wait until end of day.

WYNN $60 Puts for March 20th trading at $.90

Dan Scott said:

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WYNN $60 Puts for March 20th trading at $.90

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The land that the hotel/casinos sit on are worth more than what that would put it's market cap at with a slide that low. WYNN isn't out of the woods by any means, but their bread and butter is Macau and they are already back open.

Gonna sell those puts. I wouldn't mind being a owner of WYNN at $60

Lot of stocks losing their range moves. Expect SPY to drop.


Ah, or become a flash for a bounce. LOL. Sheesh these markets right now.

oldarmy1 said:

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Lot of stocks losing their range moves. Expect SPY to drop.

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Still looking at the SPY spread you mentioned earlier near close? Or with under 293 looking at something different?