QD going the wrong way

McInnis 03 said:

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RISK time.

Putting in an order for a Broken Wing Put Fly on TSLA

1790/1850/1900 p for Aug 21

This may be able to be intitiated for a credit, mine is currently in to get filled at $1.35 credit to me. Max loss is $8.65, max gain is $51.35.


Oh. It filled.

Management:
If TSLA continues to climb, we can continue to monitor this. We can do a couple of things here.....if it climbs so much that we can buy the 1790/1800p spread to make this a standard butterfly for less than $1.35, that means we'll have a 50 wide fly at no capital risk that we will continue to watch. Or, we can continue to let it climb knowing that if it's over 1799 at expiry the loss risk goes away as we can let the fly go to the end while still maintaining the credit.

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So you did a deep in the money put fly?? Interesting. Maybe I should consider a similar put fly at a lower price to try and guarantee some profit. My break even is at $1,670 for my current vertical.

Anyone buying SDC today? It's down significantly over the past few days.

Orlando Ayala Cant Read said:

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0708aggie said:

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RLFTF has been good to me the past few days. Anyone still in?

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Yup. Re-averaging .57 since my sell off of the original run up.

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On, RLFTF it's my understanding (and someone can correct me if I'm wrong here) that some trading apps are not allowing this to be traded still until it passes a $1 but its in a lot of those users radars right now. Is it accurate at all to say that if this thing can hit $1 it'll see an immediate secondary surge from those buyers who couldn't get in before?

Touchless said:

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McInnis 03 said:

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RISK time.

Putting in an order for a Broken Wing Put Fly on TSLA

1790/1850/1900 p for Aug 21

This may be able to be intitiated for a credit, mine is currently in to get filled at $1.35 credit to me. Max loss is $8.65, max gain is $51.35.


Oh. It filled.

Management:
If TSLA continues to climb, we can continue to monitor this. We can do a couple of things here.....if it climbs so much that we can buy the 1790/1800p spread to make this a standard butterfly for less than $1.35, that means we'll have a 50 wide fly at no capital risk that we will continue to watch. Or, we can continue to let it climb knowing that if it's over 1799 at expiry the loss risk goes away as we can let the fly go to the end while still maintaining the credit.

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So you did a deep in the money put fly?? Interesting. Maybe I should consider a similar put fly at a lower price to try and guarantee some profit. My break even is at $1,670 for my current vertical.

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I didn't have confidence in my ability to actually hit a standard call fly. And a broken wing Call Fly is great if you want to protect yourself from a down movement, but on this play I feel more confident that TSLA will continue to climb.

That's why I went with an ITM broken put fly. On a put fly you break the bottom wing and if the fly moves all the way against you (say we're at 1950 on Friday) I can just let it expire worthless and keep the credit I received when I opened it. If it's in the window then I'll profit that way. If for TSLA never breaks 1799 then I bite the bullet and admit how wrong I was

Broken wing butterflies, when played properly, have an immensely higher probability of profit over their standard counterparts.

True, but your risk is only the 1790-1800 range. If it falls below that then you're also good. Pretty small window of risk which is nice. Especially since TSLA is so volatile. I'm sure it will be all over the place this week.

oh, and I typically don't have the gonads to play wide fly's like this, but you guys last week that killed it on the 1640/1690/1740 fly gave me no other option.

This must feel pretty nice.

but now the real challenge - when to take profit?

Redler and a few others I follow on Twitter have brought up SPAQ a few times in the past week. I entered Friday and It's trying to break out of its downtrend today. Just putting it on yalls radar if it wasn't already.

Sell the 1800 and get a piece back, while still holding the 1700/1800 spread?

oldarmy1 said:

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In.

In

McInnis 03 said:

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Sell the 1800 and get a piece back, while still holding the 1700/1800 spread?

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probably smart, but that caps gains.

yikes, yeah definitely leaning toward "mistake"

$30,000 Millionaire said:

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McInnis 03 said:

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Sell the 1800 and get a piece back, while still holding the 1700/1800 spread?

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probably smart, but that caps gains.

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I'm all about risk abatement. But $10,000 in gains is a nice cap IMO

CW2011 said:

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Redler and a few others I follow on Twitter have brought up SPAQ a few times in the past week. I entered Friday and It's trying to break out of its downtrend today. Just putting it on yalls radar if it wasn't already.

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Are you familiar with the story behind SPAQ?

oldarmy1 said:

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I bought a pretty large lot of MBIO based on volume spike and it being within it's recent range. Any bounce will set off all kinds of alerts and signals to the masses.

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Shares or options?

boyz05 said:

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CW2011 said:

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Redler and a few others I follow on Twitter have brought up SPAQ a few times in the past week. I entered Friday and It's trying to break out of its downtrend today. Just putting it on yalls radar if it wasn't already.

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Are you familiar with the story behind SPAQ?

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I am not. Tell us a tale, my good man.

MBIO has options too! No brainer for me.

price just shot up on MBIO

Not sure what your basis was, but just say it was $20 per option. Could sell the $1,900 to recoup your risk and have a wider range of profit. That would net you $20k per option ($1,900 - $1,700) if it goes over $1,900. Selling the $1,800 right now at $50 would guarantee a nice return and max you out at $150 total per option.

Thats what I'm in. In for 60

Never want to pump a stock but MBIO has all the early signs for a big pop move. Just DO NOT get caught flat-footed. Explore options and determine strategy. I have sells hidden above $4.50 and also a covered call strategy mapped out at that point using March $7.50 calls.


Baseline support intraday $3.29 before attention caught it. Not too concerned over any drifting. No where to go.

oldarmy1 said:

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Bought shares.

0708aggie said:

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Thats what I'm in. In for 60

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In for 30, average price of $.23.