I just bought a 4 leg debit spread on SPX. Good freaking goodness.

Strikes? I'm looking for one for end of day

My internets been out for the past hour.... what do the Chinese have against Comcast?!

Every knee shall bow and every tongue shall confess

Time to cut losses on MOMO June 19 26 calls?

AggiePeeps06 said:

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Strikes? I'm looking for one for end of day

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bought 2990c
sold 2995c
bought 2945p
sold 2940p
XX TOTAL COST

MIND MY SIGNATURE.

EDIT: My cost was actually like $.63

HAVE YOUR TWITTER CALLS LOCKED IN AT THE ASK. YOU DO NOT WANT TO MISS IT.

Smaller traders should sell 100% right now...immediately

oldarmy1 said:

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HAVE YOUR TWITTER CALLS LOCKED IN AT THE ASK. YOU DO NOT WANT TO MISS IT.

Smaller traders should sell 100% right now...immediately

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Had already sold mine, but love watching these advance notices play out.

KT 90 said:

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oldarmy1 said:

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HAVE YOUR TWITTER CALLS LOCKED IN AT THE ASK. YOU DO NOT WANT TO MISS IT.

Smaller traders should sell 100% right now...immediately

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Had already sold mine, but love watching these advance notices play out.

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Stupid markets. As I was typing that TWTR was pushing towards $32 and by the time I hit enter the markets had a "woosh" move. It should get back up there for $2.35-$2.39. A flash above gets the grand slam.

Thoughts on AAPL? Are we at a spot where it can run up a bit? Will recent news with China push it down?

oldarmy1 said:

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HAVE YOUR TWITTER CALLS LOCKED IN AT THE ASK. YOU DO NOT WANT TO MISS IT.

Smaller traders should sell 100% right now...immediately

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just saw this but I sold my calls off the pull back from 32

Every knee shall bow and every tongue shall confess

DID the OVV poster execute your plan?

Y'all do realize that you're safe to predict SPX ends between 2990 and 2945 today because there is zero chacne this pays for me today.

Not sure how many of you have access or comfort level with shorting against calls but if you hold BJ call options into earnings you need to be up and at your computer ahead of earnings. If you get a major spike say $35+ then when you see it topping you short against your $30 Puts. Two reasons. The calls will lose premium value built up in earnings at the open tomorrow. Secondly you lock in $5+ gains on some or all for a nice win. I hardly ever carry a naked call into earnings and do not short a good portion of equivalent shares on a pop.

For beginners, a call gives you the right (the option) to buy BJ at $30/share. So if BJ is at $35, say, then you can short it and then use your call option to buy the shares at $30. BUT, no need to do so if the stock comes back down. In fact, I will sell the call on the open if the shares shorted are up $1+ over my short entry.

Looks like this. Say BJ opens at $34 after a $35 spike.

$30 Call opens at $4 in the money plus there would be maybe $0.40 premium so sell calls for $4.40 at the open. Now you have a short position up $1 and can cover if you see $35, or cover for an extra $1 and be done. But if you get some more downside then you are in command. You must have a good system and you must be deliberate for all of these strategies.

oldarmy1 said:

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Not sure how many of you have access or comfort level with shorting against calls but if you hold BJ call options into earnings you need to be up and at your computer ahead of earnings. If you get a major spike say $35+ then when you see it topping you short against your $30 Puts. Two reasons. The calls will lose premium value built up in earnings at the open tomorrow. Secondly you lock in $5+ gains on some or all for a nice win. I hardly ever carry a naked call into earnings and do not short a good portion of equivalent shares on a pop.

For beginners, a call gives you the right (the option) to buy BJ at $30/share. So if BJ is at $35, say, then you can short it and then use your call option to buy the shares at $30. BUT, no need to do so if the stock comes back down. In fact, I will sell the call on the open if the shares shorted are up $1+ over my short entry.

Looks like this. Say BJ opens at $34 after a $35 spike.

$30 Call opens at $4 in the money plus there would be maybe $0.40 premium so sell calls for $4.40 at the open. Now you have a short position up $1 and can cover if you see $35, or cover for an extra $1 and be done. But if you get some more downside then you are in command. You must have a good system and you must be deliberate for all of these strategies.

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Thanks. How confident are you in BJ reaching $35?

OverSeas AG said:

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IF you have a bad trading day at least you are not this man...


Dude shorts TSLA and loses his life savings. Wife leaves him. He gets up, fills car with poop and starts throwing it at pedestrians.


https://thestonkmarket.com/florida-man-goes-bankrupt-shorting-tesla-fills-car-with-human-poop-and-throws-feces-at-pedestrians/



No idea if true or not, but found it at a couple of sites.

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Damn. I feel for the guy. What the heck is in the water in Florida?

Fightin_Aggie said:

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OverSeas AG said:

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IF you have a bad trading day at least you are not this man...


Dude shorts TSLA and loses his life savings. Wife leaves him. He gets up, fills car with poop and starts throwing it at pedestrians.


https://thestonkmarket.com/florida-man-goes-bankrupt-shorting-tesla-fills-car-with-human-poop-and-throws-feces-at-pedestrians/



No idea if true or not, but found it at a couple of sites.

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Damn. I feel for the guy. What the heck is in the water in Florida?

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It's fake

Tried, never got filled. Limit @ .80, currently .77, also have 25% waiting to sell at 7.75 and its sitting at 7.69

Every knee shall bow and every tongue shall confess

oldarmy1 said:

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Not sure how many of you have access or comfort level with shorting against calls but if you hold BJ call options into earnings you need to be up and at your computer ahead of earnings. If you get a major spike say $35+ then when you see it topping you short against your $30 Puts. Two reasons. The calls will lose premium value built up in earnings at the open tomorrow. Secondly you lock in $5+ gains on some or all for a nice win. I hardly ever carry a naked call into earnings and do not short a good portion of equivalent shares on a pop.

For beginners, a call gives you the right (the option) to buy BJ at $30/share. So if BJ is at $35, say, then you can short it and then use your call option to buy the shares at $30. BUT, no need to do so if the stock comes back down. In fact, I will sell the call on the open if the shares shorted are up $1+ over my short entry.

Looks like this. Say BJ opens at $34 after a $35 spike.

$30 Call opens at $4 in the money plus there would be maybe $0.40 premium so sell calls for $4.40 at the open. Now you have a short position up $1 and can cover if you see $35, or cover for an extra $1 and be done. But if you get some more downside then you are in command. You must have a good system and you must be deliberate for all of these strategies.

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Want to try, but not sure I'm clear. You are saying to do this?

- am already long $30c today
- at open, if BJ spikes, STO $30c? This leaves me with an open long and an open short, but not a 0 position.

Wouldn't that be the same as sell to close?

Alright, lets see a little run here to close the day..

OverSeas AG said:

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So spreads are Level III options not Level II, so I cannot try those. I have to "apply" for the next level.

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I got rejected for Options L2 earlier this month, so I'm stuck on the sidelines watching this thread and trying to learn so I can take advantage when I get approved at some point in the future

Anyon here use Power E*Trade? If so, has it been down for you the last 3-4 hours?

Make sure you fill out the application correctly. With Merrill it depends on what you choose as your investing style (Growth, income, etc.)

Are some of you able to trade 24 hrs a day? If so, how do you get that capability?

Every knee shall bow and every tongue shall confess

AgEng06 said:

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Are some of you able to trade 24 hrs a day? If so, how do you get that capability?

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You need to be approved for Futures trading which is not trading equities. It's trading indices

The application I filled out for Fidelity wouldn't even allow you to choose L2+ unless you chose certain investment objectives. The account I'm applying with has a few thousand in fun money

Got it. Thanks.

Every knee shall bow and every tongue shall confess

Yeah I had to have a margin account and choose speculative.