Dan Scott said:

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

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Wynn went from 120 to 20 during 2008/9. Not arguing in that I'm watching them closely, along with others.

I'm showing their drop can be potentially substantial.

Intraday does look a hell of a lot like last Friday. The boys spike the last 15 minutes 100 points that day.

claym711 said:

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Intraday does look a hell of a lot like last Friday. The boys spike the last 15 minutes 100 points that day.

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LOL-->don't mention last Friday. I played the spread then. Bought at .47 and could have sold at 9 Monday if Robinhood had been functional.

spud1910 said:

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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?

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Same for now....getting late in the day so best to just wait to see the setup for Monday. As you've seen the close to open is the largest spike.

And again, if you are going to try this intraday, I'd buy the $291 Put if you see $296 broken and then see if $293 you buy the nearest strike at the same Premium value as your $291 Put at REAL time. Your Put premium bought would have been moving upward and would be higher than your entry naturally. Use the premium juice to lower your call strike closer from $296 to likely $295 or $294.50 for the premium equalization.

I had my mom buy it last Friday at $49 in her account.

GILD with a strong day. I'm already net free, so debating whether to cash the rest in on this runup or see if it breaks out. Thoughts?

Dobre casy said:

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GILD with a strong day. I'm already net free, so debating whether to cash the rest in on this runup or see if it breaks out. Thoughts?

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Same position. Watching into close, but thinking I will hold.

Oil is beat down.

IMO the permian is the true swing player. They will need to bring production down in conjunction with OPEC to see any realized normalization in oil prices.

With the influx of VC seeking returns, I don't see that happening this year. Cutting off the nose to spite the face.

Meaning my amateur opinion is that we have at least a few quarters till they figure it out. XOM, OXY, great names with diminishing value when their production can't bring them the types of profits they need.

Add in the global slowdown in consumption from the ole 'rona virus.

It's gonna get messier.

And I'm just about all out of committable dry powder at this point.

Here's to officially being on the sidelines for the next 6 months. Ideally, there won't be anymore similar opportunities to go long again by the end of that time period.

I want to give you a huge shout out for saving all of our asses today with this one.

wow, nice knowing you TLRA, see you at $8? I spoke too soon, a couple big buys at just under $9.

ROKU looks like good support at 99.

TLRA flashed below $9

YNWA_AG said:

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TLRA flashed below $9

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they released it from their death grip! already back to 9.40's. I nibbled at 9.

BREwmaster said:

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wow, nice knowing you TLRA, see you at $8? I spoke too soon, a couple big buys at just under $9.

ROKU looks like good support at 99.

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I can't seem to find support looking at the Roku chart lol... What do you look at in this case? I guess the last few times it touched 99 it stabilized but I thought it was going to find support around 110-115.

My Twitter PM's went off the charts for posting to buy down here.

I was just posting that off of feel, it kept bouncing off 99...but if you look at the chart a year or so out, there are a couple other times it was dropped to around 99 area -- after which it rocketed! Also, the bottom of the bollinger band is near 99 ( I may be off by a buck or 2).

Why is the price so high to buy when the stock is 8.54 to to buy it is 9.02?

I was just posting that off of feel, it kept bouncing off 99...but if you look at the chart a year or so out, there are a couple other times it was dropped to around 99 area -- after which it rocketed! Also, the bottom of the bollinger band is near 99 ( I may be off by a buck or 2).

PPT going to show up again to save Friday close?

BREwmaster said:

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I was just posting that off of feel, it kept bouncing off 99...but if you look at the chart a year or so out, there are a couple other times it was dropped to around 99 area -- after which it rocketed! Also, the bottom of the bollinger band is near 99 ( I may be off by a buck or 2).

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I'll just pray that you are right hah ever since that dude said he got in at $106 and jinxed us, I've been kicking myself. He even apologized to us hahaha.

Come out come out wherever you are!

You down with PPT?

dear goodness I just sold my first bull put spread. Did it on RUBI with a 7.5/10 strike setup.

Someone hold me.

IrishTxAggie said:

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PREACH ELON

khaos288 said:

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Anyone else thinking a big sell off into the weekend?

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I like being wrong

Quote:

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With this morning gap down, today's value is to the upside I think. Shorting after a 3% gap down just doesn't seem like the value. Remember what happened last Friday the end of the day.

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So does everyone feel good having a down day close with a up ending? Man these could be bear traps or they could be successful retest of lows. I'd stick with spreads for now.

The S&P is down over 50 but end of day makes people feel good. Caution

Yup. PPT the close

IrishTxAggie said:

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Quote:

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With this morning gap down, today's value is to the upside I think. Shorting after a 3% gap down just doesn't seem like the value. Remember what happened last Friday the end of the day.

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Shorts covering to avoid being left exposed over the weekend? With this news cycle and panic, one weekend is like one dog year. Better to close out positions and re-open them on Monday than risk some government bailout or improved infection/spread rate news.

The only positions I've been holding overnight are options that don't expire until June. Everything else is day trading.

Hypothetical question (I don't think this is happening anytime soon):

When the dust begins to settle and the market begins its march upward at a normal pace... IVs will be imploding... does that mean VXX puts become an outstanding idea? Or does their IV shrink too?