Boat Shoes said:

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khaos288 said:

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khaos288 said:

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Charlie Kelley said:

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khaos288 said:

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Going to try a strangle today. Will buy 270 puts at 282 levels, and will buy 285 calls at 276 levels, and sell the opposite

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What expiration are you targeting on these? 3/13?

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Yep. Haven't quite hit a buy yet, but I want to wait for the broader levels. This right channel stuff isn't giving anything away.

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Actually ended up with 3/13 290c just now. But same principle

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I picked up the same.

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What kind of profit management strategy are you following? I got in at 1.46.

GarlandAg2012 said:

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Boat Shoes said:

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khaos288 said:

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khaos288 said:

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Charlie Kelley said:

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khaos288 said:

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Going to try a strangle today. Will buy 270 puts at 282 levels, and will buy 285 calls at 276 levels, and sell the opposite

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What expiration are you targeting on these? 3/13?

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Yep. Haven't quite hit a buy yet, but I want to wait for the broader levels. This right channel stuff isn't giving anything away.

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Actually ended up with 3/13 290c just now. But same principle

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I picked up the same.

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What kind of profit management strategy are you following? I got in at 1.46.

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Profit management???

I bought hoping we run up into the close. If we do, I'll try to go net free and hold the rest overnight.

GarlandAg2012 said:

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Boat Shoes said:

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khaos288 said:

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khaos288 said:

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Charlie Kelley said:

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khaos288 said:

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Going to try a strangle today. Will buy 270 puts at 282 levels, and will buy 285 calls at 276 levels, and sell the opposite

---

What expiration are you targeting on these? 3/13?

---

Yep. Haven't quite hit a buy yet, but I want to wait for the broader levels. This right channel stuff isn't giving anything away.

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Actually ended up with 3/13 290c just now. But same principle

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I picked up the same.

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What kind of profit management strategy are you following? I got in at 1.46.

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Personally I like to buy 4, sell at 25%, 40%, and 100%. Then hold the last to see what happens or if there's a good push and big number sell.

Stop loss at 35%

Anyone Buying TLRA ???

khaos288 said:

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GarlandAg2012 said:

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Boat Shoes said:

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khaos288 said:

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khaos288 said:

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Charlie Kelley said:

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khaos288 said:

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Going to try a strangle today. Will buy 270 puts at 282 levels, and will buy 285 calls at 276 levels, and sell the opposite

---

What expiration are you targeting on these? 3/13?

---

Yep. Haven't quite hit a buy yet, but I want to wait for the broader levels. This right channel stuff isn't giving anything away.

---

Actually ended up with 3/13 290c just now. But same principle

---

I picked up the same.

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What kind of profit management strategy are you following? I got in at 1.46.

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Personally I like to buy 4, sell at 25%, 40%, and 100%. Then hold the last to see what happens or if there's a good push and big number sell.

Stop loss at 35%

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I also bought 4. Maybe I'm being too aggressive. Was hoping to go net free with 2 and hold the other two.

SPY 3/31 307C FOR $2.8MM AT $1.11

Over 25,000 contracts

Boat Shoes said:

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khaos288 said:

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GarlandAg2012 said:

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Boat Shoes said:

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khaos288 said:

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khaos288 said:

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Charlie Kelley said:

---

khaos288 said:

---

Going to try a strangle today. Will buy 270 puts at 282 levels, and will buy 285 calls at 276 levels, and sell the opposite

---

What expiration are you targeting on these? 3/13?

---

Yep. Haven't quite hit a buy yet, but I want to wait for the broader levels. This right channel stuff isn't giving anything away.

---

Actually ended up with 3/13 290c just now. But same principle

---

I picked up the same.

---

What kind of profit management strategy are you following? I got in at 1.46.

---

Personally I like to buy 4, sell at 25%, 40%, and 100%. Then hold the last to see what happens or if there's a good push and big number sell.

Stop loss at 35%

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I also bought 4. Maybe I'm being too aggressive. Was hoping to go net free with 2 and hold the other two.

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In a non-insane market, I definitely normally do the hold for net free. In this market, I'm taking profit on the way up and hoping for one contract net free at the end.

For those of you playing SPY strangles, what is your timing, contract expiration, and pricing strategy?

I get the concept of how they work, but I'm having a little trouble translating it into a practical application on my own. Hoping for a little guidance from some folks here with more experience than I.

Is there a proper way to handle a long strangle with adjustments or do you just hope for a big overall move and then make your decision?

Ie:
current stock price 278
buy the 273 put
buy the 283 call

If the stock trends in a direction during the time you're holding it, is there a proper way to adjust the put or call, or do you just hope for the exceptional stock price travel?

Too late for 401k to cash? I know dumb question because nobody knows what will happen

Trolley Problems said:

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For those of you playing SPY strangles, what is your timing, contract expiration, and pricing strategy?

I get the concept of how they work, but I'm having a little trouble translating it into a practical application on my own. Hoping for a little guidance from some folks here with more experience than I.

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hahahaha, we must be about to play the same game.

I'm still bearish on the market, I think we have a steady decline this month at the very least

Please take my comment with a grain of salt but this seems to be working for me.

Right now in a drop, I look for an affordable call about 2 days out since those premiums are in a decline. I set my buy limit lower than the premium. For me this is a crap shoot. When those get picked up, i monitor for the upswing. On the upswing, I'll buy a put and monitor the call to see if it becomes profitable. Once profitable, I sell and use those proceeds to purchase another call or put depending on which way its trending.

At this point, yes it's too late. Just keep dollar cost averaging in regardless of the price and in a few years you'll be up bigly.

In fact, if you're not maxed out on contribtuons, I would start increasing it, if you can afford it.

Prognightmare said:

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Are you posting your own tweets?

IrishTxAggie said:

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SPY 3/31 307C FOR $2.8MM AT $1.11

Over 25,000 contracts

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As I type this, volume on those is 29.5k and OI is 4865.

That's got to be a closing transaction of short calls.

OI?

Talon2DSO said:

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OI?

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open interest, positions that were already taken prior to today. Volume is today's number of transactions

You guys expect an avalanche below if this level breaks?
Feels like a 3000 pt drop is almost here

the last of the bohemians said:

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You guys expect an avalanche below if this level breaks?
Feels like a 3000 pt drop is almost here

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I've been waiting for it. Sold the 279p, just waiting for the 274 to hit

the last of the bohemians said:

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You guys expect an avalanche below if this level breaks?
Feels like a 3000 pt drop is almost here

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I've been waiting for it. Sold the 279p, just waiting for the 274 to hit

the last of the bohemians said:

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You guys expect an avalanche below if this level breaks?
Feels like a 3000 pt drop is almost here

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below 273.09 on SPY next major stop is that Dec 2018 V ~235ish.

Nothing specific but, youtube is your friend here.

Type in 'thinkorswim .....' and get your answers.

Lots of great tips and tricks for setting up scanners, adjusting your windows, etc.

You'll find it's very powerful and the menus and functions repetitive so once you feel comfortable the ability to expand your knowledge comes quickly.

We break into new lows below 273.4 on spy and we will probably end up hitting circuit breakers.

leoj said:

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We break into new lows below 273.4 on spy and we will probably end up hitting circuit breakers.

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Yep.

leoj said:

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We break into new lows below 273.4 on spy and we will probably end up hitting circuit breakers.

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Getting really close here

Thanks for feedback. Hopefully it's a capitulation drop.

Nasdaq 7866
S&P 2713
Both look to be in play today. Those figures represent bear market territory- 20% from the highs.

The Russell 2k already in bear market. Hitting levels lower than the day Trump was inaugurated.

Time to put politics aside and get this fire under control.

Username checks out!

iluvpoker said:

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Nasdaq 7866
S&P 2713
Both look to be in play today. Those figures represent bear market territory- 20% from the highs.

The Russell 2k already in bear market. Hitting levels lower than the day Trump was inaugurated.

Time to put politics aside and get this fire under control.

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so just kick the can down the road again? eff it...rip the band-aid off. Let the people who started and fueled this crazy hysteria feel the full weight of their actions.