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YNWA_AG
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In reply to IrishTxAggie • 3:05p, 3/10/20
AG
My order didn't get filled in the 1.60s.
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Harkrider 93
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In reply to ryanhnc10 • 3:08p, 3/10/20
AG
ryanhnc10 said:
Double bottom on S&P today with yesterday's low
does that count?

it looked dismal based on volume and advance/decline, but I have no clue what I am looking at
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IrishTxAggie
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3:11p, 3/10/20
AG
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Towns03
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In reply to IrishTxAggie • 3:11p, 3/10/20
AG
Will you help a noob with translation of this?
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gougler08
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3:11p, 3/10/20
AG
HEAR actually going up after earnings?
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IrishTxAggie
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In reply to Towns03 • 3:13p, 3/10/20
AG
Towns03 said:
Will you help a noob with translation of this?


Someone spent $1.4MM for the rights to buy 1MM SPY shares at $300/share on 3/16. It was an extremely extremely bullish bet.
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gougler08
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In reply to IrishTxAggie • 3:15p, 3/10/20
AG
IrishTxAggie said:
Towns03 said:
Will you help a noob with translation of this?


Someone spent $1.4MM for the rights to buy 1MM SPY shares at $300/share on 3/16. It was an extremely extremely bullish bet.
Man that's a lot of cash to throw around
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one MEEN Ag
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In reply to IrishTxAggie • 3:26p, 3/10/20
AG
IrishTxAggie said:
IrishTxAggie said:
$1.4MM just went to the SPY 3/16 $300C.

Tread lightly if you're planning to hold short positions overnight. That is a highly unusual play.
These were bought at $1.41 at 2:35...closed at $2.23 Someone made over 50% in 25 minutes.

Cheddar Flow paid for itself again
So correct me if I'm wrong here. This guy paid $1.4M to buy option granting him to ability to buy SPY at $300 on 3/16 (next Monday). Price is currently $288 a share of SPY. Since the overall market sentiment is malaise right now, and the timeline so short, it was cheap ($1.41 premium/100 shares-is that the right unit?) as there isn't much going for the market turning up that much on such short notice.

But you're saying that the market sentiment changed and the call option rose in value and even though the timeline is shorter (by a half hour) his calls were worth more. So he sold the option to buy SPY next monday at 300 for $2.23/100 shares?

So he made money on the growing sentiment (thus increased options demand) that the market will go up over SPY $300 by 3/16, not that it actually did crest 300 today.

Correct whatever I've got wrong.
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El Chupacabra
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3:31p, 3/10/20
Just for trivia:

The 3 largest positive POINT moves in DJIA history:
1 2020-03-02, +1,293.96
2 2020-03-04, +1,173.45
3 2020-03-10, +1,167.14

The 3 largest negative POINT moves in DJIA history:
1 2020-03-09, 2,013.76
2 2020-02-27, 1,190.95
3 2018-02-05, 1,175.21


If you like trading volatility...you'll either be ordering a couple new Ferraris soon....or selling your body for lunch money soon.

(If you expand the negative side to the top 11 moves, spots number 5, 6, 7 and 11 are all within the last 3 weeks as well.)
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oldarmy1
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In reply to El Chupacabra • 3:36p, 3/10/20
AG
Buying +5 SPY Call and -5 SPY Put continues to be the most consistent ROI available.
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claym711
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3:41p, 3/10/20
AG
All bottoms are made on a peak low price volume magnitude. Today wasn't it, though it's interesting to see a 5% round trip. This isn't an insult by any means, but this thread is retail traders and never came close to capitulation - it has been buy every dip.
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Charismatic Megafauna
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3:51p, 3/10/20
AG
Do you think most of the regulars here are a decent representation of your standard retail trader? Curious if the sentiment on r/investing is more cautious/"wait till things settle" than what we've got going on here

Edit: dammit I keep getting first page. Clay that was in response to your post
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McInnis 03
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In reply to oldarmy1 • 3:59p, 3/10/20
AG
oldarmy1 said:
Buying +5 SPY Call and -5 SPY Put continues to be the most consistent ROI available.
Strangle city.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
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thirdcoast
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In reply to Tree Hugger • 4:07p, 3/10/20
AG
Tree Hugger said:
Interesting news about SNSS, I considered selling mine today, I shall wait a short while longer.


Looks like they just cured cancer... finally...or at least that's the plan...

No idea what the expectation was on trial results, but a new partnership with DOT-1:

Quote:
Partnering TAK-580 and vosaroxin: In December, Sunesis consented to Takeda Oncology's assignment of our agreement relating to the pan-Raf inhibitor TAK-580 to DOT Therapeutics-1, Inc. ("DOT-1"). Coincident with the transaction, Sunesis and DOT-1 entered into a new agreement covering TAK-580 and DOT-1 paid Sunesis an upfront fee of $2.0 million. Under the new TAK-580 agreement, DOT-1 agreed to pay Sunesis up to $57.0 million in pre-commercialization milestone payments, plus royalties on future sales of TAK-580. Also in December, Sunesis licensed vosaroxin to Denovo Biopharma LLC ("Denovo"). Sunesis received a $0.2 million upfront payment and is eligible to receive up to $57.0 million in regulatory and commercial milestones, plus double-digit royalties on future sales of vosaroxin.


http://ir.sunesis.com/news-releases/news-release-details/sunesis-pharmaceuticals-reports-fourth-quarter-and-full-year-13
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Brewmaster
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In reply to thirdcoast • 4:19p, 3/10/20
AG
Yep, positive news on their call... not all the news that longs were looking for, but they will have 400 and 500mg data later this month. The 300mg showed 47% reduction in tumor burden.

As a professor of mine said "you can bet your sweet bippy" -- this will be 1.50 before long.
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Trolley Problems
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In reply to oldarmy1 • 4:49p, 3/10/20
oldarmy1 said:
Buying +5 SPY Call and -5 SPY Put continues to be the most consistent ROI available.

What timeframe do you target with these? Super short timeframe, no?
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leoj
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4:53p, 3/10/20
AG
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Ranger222
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4:54p, 3/10/20
AG
if you're buying today you have bigger stones than I. I believe we see lower prices in the next few weeks.
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Carlo4
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In reply to Ranger222 • 5:04p, 3/10/20
AG
Ranger222 said:
if you're buying today you have bigger stones than I. I believe we see lower prices in the next few weeks.
Personally, I'm with you.

My dad sent me a lengthy podcast he gets privilege of for having a trading/retirement account with Chase. I listened for the first 10 minutes, but will continue the rest on my commute home shortly.

I'll reply back later tonight on what it said. So far, they mentioned markets typically correct 20%, and we hit that target essentially this morning on the dip before the upswing this afternoon. I'll provide more details later, but they seemed positive in the sense that we hit the bottom yesterday/today.



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Harkrider 93
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In reply to claym711 • 5:26p, 3/10/20
AG
claym711 said:
All bottoms are made on a peak low price volume magnitude. Today wasn't it, though it's interesting to see a 5% round trip. This isn't an insult by any means, but this thread is retail traders and never came close to capitulation - it has been buy every dip.
Does this work with OBV? I saw that OBV hit a low not seen since 2008, so I just assumed it meant a turning point may be soon. Does the above give pause to that indication?
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IrishTxAggie
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In reply to one MEEN Ag • 5:30p, 3/10/20
AG
one MEEN Ag said:
IrishTxAggie said:
IrishTxAggie said:
$1.4MM just went to the SPY 3/16 $300C.

Tread lightly if you're planning to hold short positions overnight. That is a highly unusual play.
These were bought at $1.41 at 2:35...closed at $2.23 Someone made over 50% in 25 minutes.

Cheddar Flow paid for itself again
So correct me if I'm wrong here. This guy paid $1.4M to buy option granting him to ability to buy SPY at $300 on 3/16 (next Monday). Price is currently $288 a share of SPY. Since the overall market sentiment is malaise right now, and the timeline so short, it was cheap ($1.41 premium/100 shares-is that the right unit?) as there isn't much going for the market turning up that much on such short notice.
It is $1.41/share. Options contracts are /100 so each contract cost $141. So this buyer bought 10,000 contracts for $1.4MM for the right to purchase 1MM SPY shares at $300 on or before Monday.

But you're saying that the market sentiment changed and the call option rose in value and even though the timeline is shorter (by a half hour) his calls were worth more. So he sold the option to buy SPY next monday at 300 for $2.23/100 shares?
Not necessarily the entire sentiment. Just that this person took an extremely bullish position during extreme volatility where we've gapped up or down everyday the last 10 or so I believe. The timeline is now shorter, but the market rallied a lot in the last 25 minutes. The Delta increased rapidly whereas the Theta wasn't really of importance in so little time. If he closed his position at market close, yes he sold the right to buy those shares and had over a 50% return in 25 minutes. I'm not sure if he sold. I didn't look at the volume at the close. If he's still holding them, the value of the contracts settled at $2.23.

So he made money on the growing sentiment (thus increased options demand) that the market will go up over SPY $300 by 3/16, not that it actually did crest 300 today.
Correct. He made money off of the assumption that the market will be at 300 by close Monday. Assuming he held the calls until close Monday, for him to be completely b/e he would the SPY to settle at $301.41 (cost of contract + cost of share).

Correct whatever I've got wrong.
Sorry for the delay. Answers and corrections in bold.
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ProgN
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5:47p, 3/10/20
Took my 4 yr old son to see "Onward" by Pixar this afternoon. It's a really good movie and I teared up at the end.
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jmcfar_98
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In reply to ProgN • 5:49p, 3/10/20
AG
Prognightmare said:
Took my 4 yr old son to see "Onward" by Pixar this afternoon. It's a really good movie and I teared up at the end.


Because you finally looked at your portfolio balance?
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ProgN
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In reply to jmcfar_98 • 6:02p, 3/10/20
No, but thanks. I took some positions out yesterday on some longer term options and they're looking ok.

"Onward" is about a father and his sons. I lost my dad in January so it triggered some emotions. If you have little kids, they'll like it and so will adults.
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gougler08
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In reply to ProgN • 6:03p, 3/10/20
AG
Prognightmare said:
No, but thanks. I took some positions out yesterday on some longer term options and they're looking ok.

"Onward" is about a father and his sons. I lost my dad in January so it triggered some emotions. If you have little kids, they'll like it and so will adults.


Looking forward to going to see it soon
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azul_rain
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8:42p, 3/10/20
was today a dead cat bounce ?
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Talon2DSO
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In reply to azul_rain • 9:01p, 3/10/20
AG
hedge_zer0 said:
was today a dead cat bounce ?


I'm thinking so. Tomorrow will be a good day for SPY puts
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azul_rain
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In reply to Talon2DSO • 9:03p, 3/10/20
260 ?
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topher06
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In reply to azul_rain • 9:11p, 3/10/20
Not saying no, but I think talon is an energy attorney. Nothing wrong with that, but I think timing the market is a guess in this case.
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azul_rain
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In reply to topher06 • 9:12p, 3/10/20
based off what happened last week will continue this week, im expecting another 500-700 pt drop by close.
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khaos288
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9:21p, 3/10/20
AG
Swinging 3/11 265p today paid a pretty penny.
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claym711
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9:30p, 3/10/20
AG
Mnuchin held a call with PPT in the last day. They're gonna throw everything they've got to extend the bubble, but it's only a matter of time.

The run away derivatives market that generates a massive amount of tangible wealth, and the enormous debt bubble across corporations, governments, and individuals is going to pop in the first recession.

When the Fed started the Repo op, I posted how concerning that was. Why are banks needing billions per night in Fed created liquidity to stay alive? Why was the Fed cutting rates near all time highs?

Now, why are worldwide central banks and governments throwing everything in their arsenal at a "20% correction"? Because it isn't a correction.

Understand the risk the current enviro has created. There's a reason guys like OA are almost entirely in cash and using heavy leverage to chase yield.

Worldwide actions from power sources and market behavior is saying this debt bubble is in danger of popping.

Last thought, price will fluctuate wildly in a bear market. For those that weren't trading during the last bear market, go check out some the swings before a low was in.
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azul_rain
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In reply to claym711 • 9:31p, 3/10/20
i believe it whole heartedly
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Talon2DSO
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In reply to azul_rain • 9:48p, 3/10/20
AG
hedge_zer0 said:
260 ?


279p
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Carlo4
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9:51p, 3/10/20
AG
So RCL added $550 million just to stay afloat?

https://finance.yahoo.com/news/royal-caribbean-may-cut-junk-143118077.html
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