AgEng06 said:

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Yeah. Read back a page or two.

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Thanks. Will do

BearkatRunner88 said:

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IrishTxAggie said:

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If it can't hold this 2835, it gives bears a chance to pull this thing back down. Need to close strong

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If you're looking for a SPY put to hedge against calls out to Jun 19 should you just pick up a put around that date as well? 260?

Any suggestions are appreciated.

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$260 or $250's but I'd want to see SPY $290 before any entries

Ya to clarify I'm looking at the top a little tighter because I had a short term position after a stop loss on TQQQ that triggered the other day, now I always buy back in way too fast because I set my stops at like $1.50 below current price, little break out in S&P and then stop loss triggered so I'm closer to where I was before the mini-dip, but I'm looking at a much tighter time frame and will now likely wait for the daily box break.

Curious to hear you guys' thoughts on the leveraged etf's, they've been easy money for me but I'm vindictive with my stops, you can get hurt on gap downs that way but overall I'm up around 15% last three months using it (21% before that little dip). Definitely have to be disciplined, I hear a lot of folks talking about the negative effects of volatility drift but really any positive directionality in the overall market and you don't have to really worry about that. Also again if you're disciplined in your stops you can protect yourself, I just need to set a rule that I wait for a day or so after a stop triggers before I buy back in as I always get in at about 50% of the total drawback.

UBER 6/19 33C. $1.9mm 2.56/

jsap said:

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gougler08 said:

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Boat Shoes said:

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gougler08 said:

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Boat Shoes said:

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oldarmy1 said:

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Boat Shoes said:

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Alright, if we're at the top of the box now, do we now buy the 6/19 SPY calls? $260 strike? And do you set a stop order once executed? Learning not how to take 100% loss on my hedges.

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OK so yes there was a form of an intraday box and yes breaking that means we move higher but I was referring to the DAILY box. Look back at the chart posted. That is a daily chart.

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10-4, so that box peaks just shy of $300. So enter puts if and when we hit $295 or so? Thanks!

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I've got the box limits at 278 and 294 give or take (on the daily chart), going to need volume confirmation either way to break it longer term but you can make decent hay on trading at the tops/bottoms

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Nice. Are you playing it with options or buying and shorting SPY itself? Or some other instrument?

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Options, but work has been hectic lately so haven't been trading much. CADE is a good stock in a box (5-7.50) that I've been just buying/selling the stock outright with the same principle

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Are you saying with CADE you would buy when it's near 5 and sell when it's near 7.5?

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Yep, I had my limit order fill at 5.02 this morning so cherry picked quite nicely and will look to sell between 7-7.5. My chart is below on where I see firm support/resistance (red lines)

Those 6/19 90s are up 45% for me, could have got them 20-30% under my cost basis within the past day or two. Which I should have done lol.

oldarmy1 said:

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BearkatRunner88 said:

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IrishTxAggie said:

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If it can't hold this 2835, it gives bears a chance to pull this thing back down. Need to close strong

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If you're looking for a SPY put to hedge against calls out to Jun 19 should you just pick up a put around that date as well? 260?

Any suggestions are appreciated.

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$260 or $250's but I'd want to see SPY $290 before any entries

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Found the earlier post you made on it now. Thanks for the additional info and response.

What a push in that last minute to close above 285!

This is good stuff, thanks for this post.

closed below 5EMA. we're going down.

$30,000 Millionaire said:

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closed below 5EMA. we're going down.

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i got a 280 hedge for tomorrow just in case.

Slight FOMO selling at a minor drawback in TQQQ after getting out a conservative amount over my cost basis, especially seeing that monster minute candle, but not trying to hold those shares overnight given the past few bad mornings.

I see a lot of people post about SPY.

Just curious, what are the benefits of having this ETF over the index funds like SWPPX or VOO?

Isn't the expense ratio significantly higher for SPY?

I figured, but SPY seems like a weird ETF want to do intraday trading with. Generally anything I put in the S&P 500, I just hold onto. I only ever buy more, but I never sell.

Not worth the higher expenses for me.

oldarmy1 said:

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stxag8 said:

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What a push in that last minute to close above 285!

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I sold 100% of my $283 calls and used some profits to buy $286 calls on the cheap. Don't risk awesome premium with one day expiration to go. Either be right directionally and score premium build gain or reduce loss to very small comparatively.


DO IT NOW!

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I just snagged one. Can't learn unless you try ..

Brian Earl Spilner said:

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I figured, but SPY seems like a weird ETF want to do intraday trading with. Generally anything I put in the S&P 500, I just hold onto. I only ever buy more, but I never sell.

Not worth the higher expenses for me.

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Trading mainly options unless using shares to leverage an option that's gone into the money near resistance/support points.

Did the Bulls take the reins from the Bears? Or have the Bears set out a Bull trap?

Tune in tomorrow to find out!

Can someone ELI5 the benefits of trading options?

I've tried learning multiple times, but I'm just not getting it. Or its benefits.

Great win for the bulls today. Super high odds we were going to flush that and it was a big edge save.

jeromePOWell said:

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Ya to clarify I'm looking at the top a little tighter because I had a short term position after a stop loss on TQQQ that triggered the other day, now I always buy back in way too fast because I set my stops at like $1.50 below current price, little break out in S&P and then stop loss triggered so I'm closer to where I was before the mini-dip, but I'm looking at a much tighter time frame and will now likely wait for the daily box break.

Curious to hear you guys' thoughts on the leveraged etf's, they've been easy money for me but I'm vindictive with my stops, you can get hurt on gap downs that way but overall I'm up around 15% last three months using it (21% before that little dip). Definitely have to be disciplined, I hear a lot of folks talking about the negative effects of volatility drift but really any positive directionality in the overall market and you don't have to really worry about that. Also again if you're disciplined in your stops you can protect yourself, I just need to set a rule that I wait for a day or so after a stop triggers before I buy back in as I always get in at about 50% of the total drawback.

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FAS and FAZ crushes me in the past. I wasn't as attentive as I am now. Use leveraged ETF only as trading vehicles. Treat them like options and don't get married or greedy with them. Don't want you or anyone else to have happen what happened to me. Took a prolonged period to recover from that mistake and cluster**** on my part.

Any you lucky whales on NEWR at close?

oldarmy1 said:

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Doing some after market study and I missed that bottom pivot call on SPY by 8 cents. So sorry I really cost you Put holders some coin! Even I am freaked out at seeing markets drop multiple days and getting a bottom pivot within 8 cents. Heading to buy some lotto tickets now.

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It took me about 45 mins to believe you were right. Cost me like $75. So nothing major.. was still a profit for me. Lesson learned: OA is right, you're an idiot for second guessing.

Every knee shall bow and every tongue shall confess

Brian Earl Spilner said:

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Can someone ELI5 the benefits of trading options?

I've tried learning multiple times, but I'm just not getting it. Or its benefits.

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Keep reading this thread and seeing what happens with post recs on here. It's cloudy for you right now but one day it's all going to click and you'll see what's happening.

Also, if your firm has paper trading feature, like TDA, follow some of the recs and watch how they work in real time. None of your capital is at risk but it's an excellent learning tool.

Welcome to the thread.

There was a pick 5 stocks yearly contest over on Tigerdroppings. Once again, if only I had actually followed my gut.

leoj amzn 28.53% se 31.82% docu 35.41% amd 23.42% tdoc 106.96% overall 45.228%

Every knee shall bow and every tongue shall confess

Serious question, has anyone here figured out why Wayfair went from 21.7 to 197.06 in 2 months? The gap up from 135 to 185 or whatever it did has me wondering if there isn't a really nice opportunity to play a fill.

Surprised they haven't tried to have an offering up here

CODX is why you shouldn't get greedy. If trading and a stock gives you a profit you're happy with, take it.

Prognightmare said:

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CODX is why you shouldn't get greedy. If trading and a stock gives you a profit you're happy with, take it.

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Yep. Hard sometimes not to do this. I managed to get out earlier today for a nice profit on this one.

Ranger222 said:

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just going to long APT

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I respect your posts more than you know.

I bought AMD 5/22 $50p right before you posted that you bought the $60 calls a few days ago.

I closed out my puts yesterday for a small profit and purchased the 5/22 $55c today at the open.

Thanks.

Probably a dumb question but let's use the following assumptions for this exercise. I'm not even sure I fully understand the basics.

Jan 1 - Stock: XYZ trading @ $100 a share
Jan 1 - purchase 1 call contract for $1.00 , strike of $105, expiration Jan 5.
Jan 2 - stock XYZ closes at $103 a share, contract is trading for $1.05
Jan 3 - stock XYZ closes at $102 a share, contract is trading for $1.04
Jan 4 - stock XYZ closes at $104 a share, contract is trading for $1.06 a share.
Jan 5 - stock XYZ closes at $104 a share, contract is worthless

Jan 4th you should've sold your call and realized a small gain or are you only in the money when XYZ stock is trading above $105 a share?

Am I way off here?