Testing this out.. haven't posted a pic from TOS before...

Based on a few fib levels, there's a price cluster I marked in the 3440 - 3470 range based off extensions and symmetry moves. There will also be the ATH to move through to get there which has a 127.2 extension overlap as well. You could base some fly strategies around either/both levels.

there will be opportunities on Amazon and Apple next week.

Remember - market has been near/around ATH for a while in a fairly narrow range. higher probability of a break up, but we should see a pull back before a push higher.

McInnis 03 said:

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Ragoo said:

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Thoughts on an AAPL 490/505/515 butterfly for next week?

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Just a reminder, we break the low wing on put flys and break the high wing on call flys.

I play put flys on bullish moves.
Call flys on bearish moves.

You can use either on a play of no movement.

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Mind blown on these! I found a calculator online to test out some bull put flys on AMZN... I think the 3340/3400/3450 was a credit of 240 and could go to max profit of 5239 (if it expired there on 8/28, highly unlikely I know), but intriguing nonetheless.

Want the final nail in the standard butterfly coffin?

Check out the win percentage comparison

Would the bull put fly work on something less liquid than spy or amzn, like ostk? Premiums are insane on ostk, but I figure that or a call spread would rock this week.
Awesome, I'll check the video out!

BREwmaster said:

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Would the bull put fly work on something less liquid than spy or amzn, like ostk? Premiums are insane on ostk, but I figure that or a call spread would rock this week.
Awesome, I'll check the video out!

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Just remember it's hard to unwind a butterfly in a non liquid entity. You may have to break the legs one at a time.

Message board /internet rumors saying its most likely CYDY out of Canada.

Regardless, I think all other bios that have any kind of presence in covid (even if its not much) are going to take it on the chin tomorrow if he names a particular company.

A good amount have been taking it on the chin already, moreso the smaller ones.

Cover story on drudge says President trump is paranoid that we are waiting until after the election for anything via deep state. Now an announcement will be made today? So which is it?

Bonfire1996 said:

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Please be RLFTF. Would be amazing

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It would be. Sold out when it got back to $.70 getting sick of penny stocks.

If so, hope you guys all buy yachts!

Carlo4 said:

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Cover story on drudge says President trump is paranoid that we are waiting until after the election for anything via deep state. Now an announcement will be made today? So which is it?

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Drudge is anti-Trump so take it with a grain of salt.

You mean articles with "deep state" and "paranoid" aren't usually total bull*****

Wish we could get some journalistic integrity back in the world.

Looks like he's gonna talk up plasma therapy not RLFTF

Its not new so idk where the talk of a break through is coming from. Guess we'll find out soon enough.

$30,000 Millionaire said:

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BREwmaster said:

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Would the bull put fly work on something less liquid than spy or amzn, like ostk? Premiums are insane on ostk, but I figure that or a call spread would rock this week.
Awesome, I'll check the video out!

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Just remember it's hard to unwind a butterfly in a non liquid entity. You may have to break the legs one at a time.

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great point... I'd like to try a call spread on ostk, but last time I did it was hard to close it out (whereas I banked with ROKU spreads, and easy to close out). I may just have to bite the bullet and scalp the calls on OSTK.

Just a heads up....if anyone announces a split soon, otm call spreads is where you'll make MONEY

They primarily do it in conjunction with their earnings report, so keep that in mind in October/November.

BREwmaster said:

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$30,000 Millionaire said:

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BREwmaster said:

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Would the bull put fly work on something less liquid than spy or amzn, like ostk? Premiums are insane on ostk, but I figure that or a call spread would rock this week.
Awesome, I'll check the video out!

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Just remember it's hard to unwind a butterfly in a non liquid entity. You may have to break the legs one at a time.

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great point... I'd like to try a call spread on ostk, but last time I did it was hard to close it out (whereas I banked with ROKU spreads, and easy to close out). I may just have to bite the bullet and scalp the calls on OSTK.

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Ostk has been great - between the digital dividend and just selling calls along with the rise in base price it has been quite lucrative. The question now is how long to keep it going?

my plan is to keep riding it. I trust Hidden Pivots and his buddy Cohodes, they know more than me on the company. Marc thinks 200+ is going to happen, especially as their technology is going online. HP is still giddy about them as well. Credit Suisse and B of A wanted in on it and from what I hear there are big plans coming. 130C's (1 mil $ purchase) came in on Friday for 8/28, probably see some fireworks this week!

I've rolled profits from OSTK into OSTKO and bought back into OSTK when the offering hit and it dropped to the 80's. Back in and long since 28, but damn do I wish I had bought back at $3 or 4! Once OSTKO is available on several more brokers, it will pass OSTK in price and do so in a hurry.

I know I sound like I'm pumping it, but HP is the man. He told his members to buy OSTK at $5 and same for CWH in the single digits (he's been nails on TSLA since 58, same with NVDA and a bunch of other huge wins).

McInnis 03 said:

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I play put flys on bullish moves.
Call flys on bearish moves.
You can use either on a play of no movement.

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I'm not sure I follow you here, care to explain the thought process in more detail?

Also if you are bullish on a stock and target the price to move up, wouldn't you tend to break the downside leg a little and vice versa if you are bearish? You want to be free to put max profit at the price you think has highest probability of ending on put want that broken leg towards you in case it doesn't move as much as you anticipate.

Still bearish. We will decline some soon.

Lawsuit against goco? Hope it doesn't crater it's further and has been factored in

oldarmy1 said:

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Just went for a 100 SPY Monday $341 Calls. These are the times I'll risk a few thousand to see if a record set Friday results in a launch Monday.

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How ya doin'?

Exiting 75% of TTOO here $2.20 Great pop

Aapl 507
Tsla 2120

oldarmy1 said:

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oldarmy1 said:

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Just went for a 100 SPY Monday $341 Calls. These are the times I'll risk a few thousand to see if a record set Friday results in a launch Monday.

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How ya doin'?

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Kicking myself that I didn't see this before.