We're in the Apr 17 $260's for now, but you could either buy a small position of those $256 and add on if the technical break hits or wait and determine if you want to risk it by buying in on any intraday bounce. Right now the bulls appear to be willing to let things settle.Touchless said:So do you wait for SPY to hit the $270 mark and then buy $253P or do you go in at like $256P to give a little cushion and target selling when SPY his $254 or something instead?oldarmy1 said:
Good indicators on continuation of pullback now but there should be an intraday push upward coming. We have a juicy gap down at $253.32 on SPY & 2538.18. If we hit $270 SPY/ 2660 SPX odds move way up for that to happen./\
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Last: 11 min ago by insulator_king
Every knee shall bow and every tongue shall confess
Eyy don't sweat it. We both left ~2.5 pts on the table. This newb missed it as well. At least we were onto something.BB675 said:
I got in at $6.40 and sold at $6.38. I couldn't handle how volatile it was! Kicking myself now. That is what happens when you don't know what you are doing...
BTW - I'll bookend SPY Puts with a cheaper daily $274 Call if we hit $270. We could bounce off of it and hold with today being only a pullback day versus the start of a trend top reversal. Everything is options as indicated Friday. Not placing capital back in unless I think I have full conviction of clarity. Right now my thinking is we do go lower since we caught our Model T wave top spot on.
How do we know its just a pullback and not a trend top reversal? I am really new to all of this. In fact, this question could be stupid and I wouldn't even know it.oldarmy1 said:
BTW - I'll bookend SPY Puts with a cheaper daily $274 Call if we hit $270. We could bounce off of it and hold with today being only a pullback day versus the start of a trend top reversal. Everything is options as indicated Friday. Not placing capital back in unless I think I have full conviction of clarity. Right now my thinking is we do go lower since we caught our Model T wave top spot on.
DIS is a good indicator stock right now. Trying to hold its intraday bottom set. Clear channel formed. Watch the break direction on volume (will take volume to break channel whichever way).
It's not a stupid question at all. It is THE question when making decisions. $270 is what I have calculated to be the key confirmation mark. Understand all about "flash" moves when you read numbers. A stock can flash below it to trigger the technical but then wickedly use that as a pivot point. Very key to use minute volume and average order size to get a purer view.
Dude, your AMZN 2200c lotto ticket is about ready to be cashed.
ERI - $15.70 down 13%
I know PROG was looking at $10 entry, still think that is a good buy level for Eldorado?
I know PROG was looking at $10 entry, still think that is a good buy level for Eldorado?
Spy is anchored by AMZN right now, if it weren't for that spiking, SPY would be trending lower faster by quite a bit.
I sold mine Friday.McInnis 03 said:
Spy is anchored by AMZN right now, if it weren't for that spiking, SPY would be trending lower faster by quite a bit.
Don't have those anymore. The price action was bothering me earlier and got out of them at a lossMcInnis 03 said:
Dude, your AMZN 2200c lotto ticket is about ready to be cashed.
There's the bounce.
I am sure glad I jumped on a TSLA call position this morning... ^^^
oldarmy1 said:
It's not a stupid question at all. It is THE question when making decisions. $270 is what I have calculated to be the key confirmation mark. Understand all about "flash" moves when you read numbers. A stock can flash below it to trigger the technical but then wickedly use that as a pivot point. Very key to use minute volume and average order size to get a purer view.
So if SPY hits the 270 mark, you think that is when we could see the trend top reversal? I just want to make sure I'm understanding what you're saying.
It's never a bad decision to book an almost 30% ROI. There is always something else to buy.RoyalOak00 said:
Bought into NFLX at $300. Up almost 5% today to 388. Thoughts on cashing out? I keep thinking eventually Disney will cut into NFLX not to mention some of the other steaming options.
The TSLA 680 calls I sold for a small loss last week are currently $7.45. Could've easily not gone this way though.
Yes, with the caveat of the flash scenario. Technical points fail or hold. If you're looking for the gap trade down at 253 area you want us to reach $270 and then fail. Almost certain to have a quick bounce off of that mark as bulls want it to hold.
oldarmy1 said:
Yes, with the caveat of the flash scenario. Technical points fail or hold. If you're looking for the gap trade down at 253 area you want us to reach $270 and then fail. Almost certain to have a quick bounce off of that mark as bulls want it to hold.
Okay.. that's what I thought you were saying. Thank you!
So I am watching some stocks today, are you thinking that it's likely we reach that $270 mark then drop down to $253 range, then bounce?oldarmy1 said:
Yes, with the caveat of the flash scenario. Technical points fail or hold. If you're looking for the gap trade down at 253 area you want us to reach $270 and then fail. Almost certain to have a quick bounce off of that mark as bulls want it to hold.
Betas having a very aggressive day, but then you look over at the indexes and they're down ~1.75%
Honestly, that I can't tell you or I'd be on every TV station tomorrow. This could all be just a pullback and right now is when buying some stocks pulled back $1-5 is an opportunity. I have options with limited exposure for now after such a great run up. If I were to do anything I would be selling naked Puts that either bank my premium if stocks do move upward or lowers my net entry into stocks where I would have bought first holdings anyways.Aggie_2463 said:So I am watching some stocks today, are you thinking that it's likely we reach that $270 mark then drop down to $253 range, then bounce?oldarmy1 said:
Yes, with the caveat of the flash scenario. Technical points fail or hold. If you're looking for the gap trade down at 253 area you want us to reach $270 and then fail. Almost certain to have a quick bounce off of that mark as bulls want it to hold.
You can get $5-10 naked put premiums on a lot of the favorites posted on here.
Missed out on 5 pts. Also, how come you can't short this one? Who decides that and what is it based on?AnyOtherName said:Take a look at $WORX. Jumped from 2.25 - 9.xx's pre-market. Supposedly going to be bringing in $35MM a week and had a $20MM market cap before announcement. Would like to get some seasoned eyes on this one. Currently trading around Model T at 6.08BB675 said:
Any plays for non-options traders this morning? I am trying to learn by reading this thread but I am not comfortable doing so just yet.
https://seekingalpha.com/news/3560067-scworx-rockets-95-premarket-on-order-for-2m-covidminus-19-blood-tests
Personally, I'd take it. Think of the compounding effect if you were able to take 30% on every trade.
What are the boards thoughts on the market? Have we already hit the bottom and on the way back up? Or do you think we go to new lows in the next few weeks or months?
I keep thinking with all the bad news and negative long term effects the market should be going down, yet it seems to continue inching upwards.
I keep thinking with all the bad news and negative long term effects the market should be going down, yet it seems to continue inching upwards.
aggieland09 said:
What are the boards thoughts on the market? Have we already hit the bottom and on the way back up? Or do you think we go to new lows in the next few weeks or months?
I keep thinking with all the bad news and negative long term effects the market should be going down, yet it seems to continue inching upwards.
The government is literally throwing everything they can at the market to prop it up at the moment. Unemployment is still insane though, and the countries still not open for business.
I think we'll see 218 again at least.
Read the previous 15 pages and you'll get a good idea of where everyone stands.
ETA;
I'm not being a dick but we seem to revisit this topic almost daily.
ETA;
I'm not being a dick but we seem to revisit this topic almost daily.
Depends if you think you can find opportunities that will outperform AMZN over [insert time period]. That really goes for any question of buying/selling.
An option might be to sell 11 shares to represent recouping your original capital to invest elsewhere and maintain 4 shares (your gain) in AMZN to "let it ride"
An option might be to sell 11 shares to represent recouping your original capital to invest elsewhere and maintain 4 shares (your gain) in AMZN to "let it ride"
the lows are in!@#@! buy buy buy. don't miss out on this once in a lifetime rally.aggieland09 said:
What are the boards thoughts on the market? Have we already hit the bottom and on the way back up? Or do you think we go to new lows in the next few weeks or months?
I keep thinking with all the bad news and negative long term effects the market should be going down, yet it seems to continue inching upwards.
serious answer: nobody knows but seems some decline from here is likely, probably 2300 S&P 500 at least.
Re: Amazon, I wouldn't sell. They are going to continue to prosper regardless of the coronavirus. If anything, they will continue to do better as covid accelerates the retail to digital shopping trend. My basis in Amazon is $900, so for me, watching it fluctuate between $1900 - $2200 isn't making me flinch in any way. I would consider adding in a big way sub $1700.
People have been buying the 1/15/21 3000C and 3200C today on AMZN$30,000 Millionaire said:
Re: Amazon, I wouldn't sell. They are going to continue to prosper regardless of the coronavirus. If anything, they will continue to do better as covid accelerates the retail to digital shopping trend. My basis in Amazon is $900, so for me, watching it fluctuate between $1900 - $2200 isn't making me flinch in any way. I would consider adding in a big way sub $1700.
Fun Fact of the Day:$30,000 Millionaire said:
Re: Amazon, I wouldn't sell. They are going to continue to prosper regardless of the coronavirus. If anything, they will continue to do better as covid accelerates the retail to digital shopping trend. My basis in Amazon is $900, so for me, watching it fluctuate between $1900 - $2200 isn't making me flinch in any way. I would consider adding in a big way sub $1700.
In Oct 2017 I made a rather risky options play with AMZN surrounding their 3rd Qtr earnings announcement. With the profit I purchased a World Series Game 5 ticket. The one where the Astros won 13-12 in the bottom of the 10th inning at home. Most epic game I have ever witnessed. I also went long at the time and hold to this day.
WHAT?!? Torbush wow. Selling 1800P would probably be an easy way to pocket premiums. I need to think about doing that.IrishTxAggie said:People have been buying the 1/15/21 3000C and 3200C today on AMZN$30,000 Millionaire said:
Re: Amazon, I wouldn't sell. They are going to continue to prosper regardless of the coronavirus. If anything, they will continue to do better as covid accelerates the retail to digital shopping trend. My basis in Amazon is $900, so for me, watching it fluctuate between $1900 - $2200 isn't making me flinch in any way. I would consider adding in a big way sub $1700.
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