Maximus_Meridius said:

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aginlakeway said:

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tam2002 said:

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Wynn starting to drop

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Big time. I got out of what I had left earlier today. Crazy ride the last week.

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Looks like the most recent level of support was around 64.50ish, with a gap to about 59 if it doesn't hold there.

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I think it's at $100 this summer. But who knows.

All you beeches sold your LADR stock and dropped the value.

I agree. But I think it'll be a roller coaster getting there, and if it drops below 65, you might can get another good swing in along the way.

Or sell some puts if you're feeling ballsy.

Edit: I have the Model T at 70.99 based on the point we gapped up to today's high.

A little buyer fatigue after trying 260 5 times.

You short all rips above fast EMAs in a bear market, especially when detached above by 100 points, and short low liquidity rips to obvious resistance. Rug pull at any moment, like yesterday. Shorted today's rip as well. Above 2600 we will get sucked straight up to 2700, easy short with a quick stop and major profit potential. Lopsided R/R and stress free.

Maximus_Meridius said:

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I agree. But I think it'll be a roller coaster getting there, and if it drops below 65, you might can get another good swing in along the way.

Or sell some puts if you're feeling ballsy.

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Yep. I wouldn't buy back until it's a 60 or so. I did too well before to give it back. I'm more conservative than most.

Touchless said:

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oldarmy1 said:

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hedge_zer0 said:

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im sorry what is Model T?

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Fancy made up term for a 50% retracement of a major directional trend move that occurred.

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So would you character that as like a W chart (never heard of this so I'm making it up. You hear of V or U bottoms, but perhaps a W is more appropriate with the temp reversal)? Steep drop, 50% back to where it was and then another quick drop back to the bottom before returning back to the original starting point?

I've been trying to understand the math on this as it's been mentioned on the thread countless times. Is this accurate as an example? Start at $200 --> $100 --> $150 --> $100?

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Yes and when those occur you make your buys at the double bottom point but you ADD at the $150 mark versus sell.

Wait a minute, according to that other guy, you got stabbed and died! We're taking investing advice from a ghost!

oldarmy1 said:

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Now talk to me about LADR strategy again?

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Buy low, sell high!

in construction and going full force.

oldarmy1 said:

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You're all on notice! I was focused on mainly large caps during the selloff and missed the easiest money of them all.

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my big winner on buying the dip so far is SPCE, although ROKU not far behind. but I do wish I'd grabbed LADR and some others.
watching for a dip tomorrow or soon to add SPXL and ride it back up to model T territory. At least that's the plan.

I bought another huge '22 LEAP on CX. At some point Mexico will get with the program. Very long bear cycle on Mexico construction, but CX is global too. It will be my money pit I can't give up on. $40k per option wave. The $3 one paid off with the move above $4 but when I sold if I look across the other 2 option chunks I still am down 24% in net trade value. I went $2 call leaps at $0.50 this time with $3.50 planned exit. That would end me up nicely after 2+ years of excruciating patience.

Wondering the same. Surely we're going to see some defaults on junk debt holders from this. But who knows with these stimulus packages

oldarmy1 said:

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Now talk to me about LADR strategy again?

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Model T on the nose

puts back near even

bought $5p for LADR for .6, unloaded at .8. Quick in/out.

I'm ****ing sick of this market. Pick a direction.

Are there funds that only trade (Short) when there are these massive corrections? Why bother trading when you can just wait for the next crash if they are bound to happen every 10-15 years.

McInnis 03 said:

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bought $5p for LADR for .6, unloaded at .8. Quick in/out.

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LADR is crazy capitulation. Either a larger move coming or its going to die

Crazy question.

If you think a down day is coming, wouldn't it make a **** ton of sense to sell a NTM or ITM put on SPXS as the premiums there are ridiculously high, making your cost of ownership really low if for some reason things go the other way on you?

ie APR17 19P sells for about $5 right now, ownership price $14 if you truly get put? Am I doing something wrong here? (Current trading price is about 16.30)

So Model T question - is the 50% retracement more common occurrence than the 38.2% retracement? Would it be a prudent move to set a stop loss on the 38.2% once we pass through it in case it doesn't get all the way to the 50% before selling off in a major way? Or is that not how it works?

Trolley Problems said:

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Ok, need some input -

I'm sitting on a 248 x 258 SPY strangle, expiring tomorrow. The 258C are in the money, but the 248P are out of the money further than the calls are in the money. Options as I see them:

1. Close out the call for a slight profit, let the put ride to see if we swing the other way the second half of the day today / tomorrow morning.

2. Let them both ride, hoping for more run up today / tomorrow morning to put the call further in the money before closing out the whole position.

3. Close them both out now for a ~20% loss on the thought that time decay is going to kill me with expiry tomorrow and I'd be cutting losses.

What're everybody's thoughts? I'm kinda leaning towards #1, but I figured I'd ask since I'm still learning.

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did you get the answer to this? I thought the strategy here was to sell the call when the market trended up or started to approach resistance, then sell the put when it swung back down to model T? Unfortunately I can't ever afford a call and a put, so I have to pick the losing side and watch it expire worthless!

Do we think that we will continue to see this boost if the house passes the stimulus bill tomorrow?