oldarmy1 said:

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Exiting 75% of TTOO here $2.20 Great pop

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Damn, you sent it back under $2

cottonpicker said:

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

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Where are you seeing a lawsuit?

Guess I won't be getting aapl 495.

Ragoo said:

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Guess I won't be getting aapl 495.

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Sure you will, post split.

ONTX halted

Prognightmare said:

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cottonpicker said:

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

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Where are you seeing a lawsuit?

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I see no news other than the expansion of a new 1200 seat facility in Utah.

Prognightmare said:

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cottonpicker said:

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

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Where are you seeing a lawsuit?

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ETA: found it

https://www.prnewswire.com/news-releases/goco-alert-johnson-fistel-launches-investigation-into-gohealth---stock-price-has-plummeted-since-ipo-investors-suffering-losses-encouraged-to-contact-the-firm-301116694.html

It's an ambulance chasing firm, I'm not concerned.

oldarmy1 said:

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ONTX halted

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For going which way!?!

Looks like bad news on ONTX

CrazyRichAggie said:

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oldarmy1 said:

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ONTX halted

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For going which way!?!

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The bad way.

oldarmy1 said:

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Good grief! Yeah that group is known for IPO harassment.

https://www.prnewswire.com/news-releases/goco-alert-johnson-fistel-launches-investigation-into-gohealth---stock-price-has-plummeted-since-ipo-investors-suffering-losses-encouraged-to-contact-the-firm-301116694.html

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Yeah, IIRC they wanted to sue FSLY when they dropped, OOPS

GoHealth Utah expansion

https://curated.tncontentexchange.com/states/utah/gohealth-breaks-ground-on-new-facility-bringing-nearly-1-200-jobs-to-lindon-utah/article_701e9f51-63d8-58fb-990d-d36ba5f2cb78.html

ONTX

HOLY HELL AAPLE

Just plummeted to almost a quarter.

I was only holding net free shares, but that stings.

I must have missed the beating zest took Friday too

Its flying right by the put McFly

Welp...there goes those net free shares of ONTX...

Buying all I can fill under $0.28 ONTX

So is ontx going to be a model t opportunity? Or just buy the dip? They have other stuff in the pipeline right? Rigosertib is just their myeloma drug, the breast cancer drug is still in play?
Edit: oa buys i buy...

oldarmy1 said:

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Buying all I can fill under $0.28 ONTX

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So you are still bullish I see

OA- future thoughts on ONTX since you are still a buyer?

wanderer said:

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Its flying right by the put McFly

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I have a broken put so the credit spread means it's still a winner!

Looks like I found my new entry point on ONTX. Geez

It's a drug company with a lot of development products. They just need one and this one failed. That's the game and why you get net free. But I love overreaction buying. I got 1.6 million shares filled under $0.28 and am selling half at $0.35+.

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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Take advantage of the pop and sell at open? Only sell half to see if SPY continues? Let them run and get assigned @ 341 (just kidding, but may actually be a choice for you)

McInnis 03 said:

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wanderer said:

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Its flying right by the put McFly

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I have a broken put so the credit spread means it's still a winner!

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boom! This seems to be an almost guarantee play unless the stock tanks. Runs up, keep the credit, pin the middle and double/triple up.

I sell 75% on expiring options at the open

omg ONTX. wowzers.

Competition was fierce under $0.28 for shares. I had a 3 million share order on with only 10000 showing and refreshing. You do that so if it sells under what you show because of larger market sells you benefit from lower fills on the refresh. You also can miss on a full order fill. But I love doing it that way.

Never know once market opens if we revisit or value buying shoots it up so if we make $0.35 or close premarket I take some quick gains and be prepared to buy.

Bob Knights Liver said:

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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.

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So I saw this reply last night and my mind has been swimming in the answer possibilities. There's more than one way to attack this....and I think how a person answers it is also a part of the insight into their trading process.

Butterflies (std and broken-wing (BWB)) can be traded directionally or neutrally. At this point in time I'm directional and I'm implementing on directional stocks. AMZN, APPL, CRWD, TSLA, etc are just a few I've been implementing on. Please understand that I'm taking a directional bias and implementing the play from there.

A standard fly is two vertical spreads joined at the midpoint, right? One is a debit spread, one is a credit spread. This is what brings the capital requirement down. To bring the capital down further, you can add a 2nd credit spread into the equation and THIS is what a BWB is.

EX1: Std fly -> buy 100C, sell 105C x2, buy 110C. Std fly with a 100/105 debit spread, and a 105/110 credit spread

EX2: BWB fly -> buy 100C, sell 105Cx2, buy 115C. BWB Fly with a 100/105 debit spread, 105/110 Credit Spread, and another 110/115 credit spread which becomes a 105/115 credit spread. Selling the 2nd credit spread here may net you a credit on the transaction.

If I'm going bullish, I'm expecting the stock to go UP. In this case I want to sell a put spread on the low side of the fly as that's where I can capture more profit if the stock goes my way, away from that spread I sold.

If I'm going bearish, I'm expecting the stock to go DOWN. In this case I want to sell a call spread on the high side of the fly as that's where I can capture more profit if the stock goes my way, away from that spread I sold.

Now I'm sure there are 10 more ways to do this. This play is so damn flexible, it's what makes it great. You can definitely play it the other way where if you're bullish you place a BWB call spread and if you're bearish you place a BWB put spread......but these are going to insulate you in the event the trade goes the WRONG way I believe. That's not what I'm doing as a directional play, I'm trying to get the MOST from my play in the direction I have confidence in.

I feel like I could write a book on this topic and I don't want to do that here. Hopefully this reply gives you a glimpse into my execution on these. Perhaps as things change and volatilities change my plays will change as well, but right now this is working REALLY well for me and my track record in other ways is not so good. This is where I will continue to live in trades for a bit

Ranger222 said:

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zwhag2010 said:

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Ranger222 said:

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New position -- FB OCT 18 300C

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Still in this or was this a scalp ahead of the spike that hit today. (Trying to see if this is too late to jump in on)

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sorry was away from computer most of afternoon...it was OCT 16 as some pointed out not 18

Still on...with that long date (two months) this will be a hold for a while. You could play it for a scalp with shorter dated calls. Someone mentioned Sept 280 and I like those too. Could ladder it with both and take profits on the Sept calls on a quick move up this week while still holding Oct

Tried that recently with SNAP...bought 8/21 and then 9/18 calls...didn't work as SNAP has never moved. Lost quite a bit on the 8/21 Cs. Still holding Sept

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Still holding SNAP shares or an option position?

Prognightmare said:

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Prognightmare said:

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cottonpicker said:

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

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Where are you seeing a lawsuit?

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ETA: found it

https://www.prnewswire.com/news-releases/goco-alert-johnson-fistel-launches-investigation-into-gohealth---stock-price-has-plummeted-since-ipo-investors-suffering-losses-encouraged-to-contact-the-firm-301116694.html

It's an ambulance chasing firm, I'm not concerned.

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Good deal. I did not get a chance to read it. Actually may be a buying opportunity then.